Overview and Scope
Heptanoic acid is an aliphatic carboxylic acid, also known as enanthic acid, an organic compound composed of a seven-carbon chain terminating in a carboxylic acid functional group. It’s a white, greasy liquid with a robust putrid stench. It helps to mask the odor of some rancid oils. It is merely soluble in water but highly soluble in ethanol and ether. Heptanoic Acid prepares esters for the fragrance industry, contributing to the scent and aroma of various products.
Sizing and Forecast
The heptanoic acid market size has grown steadily in recent years. It will grow from $2.95 billion in 2023 to $3.03 billion in 2024 at a compound annual growth rate (CAGR) of 2.7%. The growth in the historic period can be attributed to increase in pharmaceutical industry, increase in chemical industry, demand for textile industry, research and development.
The heptanoic acid market size is expected to see steady growth in the next few years. It will grow to $3.4 billion in 2028 at a compound annual growth rate (CAGR) of 2.9%. The growth in the forecast period can be attributed to rising demand from the cosmetic and personal care industry, expansion of the processing industry, increasing demand for lubricants, growing automotive industry. Major trends in the forecast period include technological advancements in production processes, continued relevance in agriculture, innovations in cosmetics and personal care, surfactants and detergents.
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The heptanoic acid market covered in this report is segmented –
1) By Grade: Pharmaceutical Grade; Industrial Grade; Food Grade
2) By Application: Cosmetic; Flavors and Fragrance; Chemical Synthesis; Lubricant; Pharmaceutical Ingredients; Anti-corrosion Applications; Other Applications
3) By End-Users: Automotive; Aerospace; Food And Beverage; Cosmetics And Personal Care; Pharmaceuticals; Chemicals; Other End-Users
Asia-Pacific was the largest region in the heptanoic acid market in 2023. The regions covered in heptanoic acid market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
Growing demand for cosmetic products is expected to propel the growth of the heptanoic acid market going forward. Cosmetics refers to products or procedures used to enhance or improve the appearance of the face, skin, hair, nails, or other body parts. Heptanoic acid is a chemical compound that can be used in the production of cosmetics. It is a fatty acid derived from natural sources such as coconut oil and used as an emollient, skin conditioning agent and fragrance ingredient in cosmetic products. For instance, in February 2023, according to L’Oréal S.A., a France-based personal care company, sales of consumer products increased from 11.8% to 14.6% and active cosmetics from 28.0% to 30.6% from the 4th quarter of 2022 to December 31, 2022. With a growth of +21.9% like-for-like and +30.6% based on reported numbers, the dermatological beauty division closed the year with an exceptional gain. Therefore, the growing demand for cosmetic products is driving the growth of the heptanoic acid market.
Key Industry Players
Major players in the heptanoic acid market are Thermo Fisher Scientific Inc., INEOS Group Limited, International Flavors & Fragrances Inc., Arkema S.A., Lanxess AG, EMD Millipore Corporation, VWR International LLC, OQ Chemicals GmbH, Sigma-Aldrich Corp, Alfa Aesar GmbH & Co. KG, MP Biomedicals LLC, Spectrum Chemical Mfg. Corp., Cayman Chemical Company, Tokyo Chemical Industries Co.Ltd., Santa Cruz Biotechnology Inc., Synerzine Inc., Chem-Impex International Inc., Central Drug House (P) Ltd., Larodan AB, VIVAN Life Sciences Pvt Ltd., Kalpasutra Chemical Pvt. Ltd., Seqens Group, Akshay Chemicals Private Limited, The Good Scents Company, Acme Synthetic Chemicals, Wujiang New Sunlion Chemical Co. Ltd., Intellichemie Industries LLP, Jinan Chenghui Shuangda Chemical Co. Ltd., Neuchatel Chemie Specialties.
The heptanoic acid market report table of contents includes:
1. Executive Summary
2. Heptanoic Acid Market Characteristics
3. Heptanoic Acid Market Trends And Strategies
4. Heptanoic Acid Market – Macro Economic Scenario
…
32. Global Heptanoic Acid Market Competitive Benchmarking
33. Global Heptanoic Acid Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Heptanoic Acid Market
35. Heptanoic Acid Market Future Outlook and Potential Analysis
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