Demand for Erucic Acid to Witness Rapid Surge During the Period 2018 - 2028
Added: (Wed Mar 27 2019)
Pressbox (Press Release) -
Global Erucic Acid Market Introduction
The growing trend for production of chemical from green feedstock, there has been significant rise in demand for Erucic acid. The demand for Erucic acid based chemicals has been improved significantly from the plastic additive industry and metal working industry. The High Erucic Acid Rapeseed Oil (H.E.A.R.) oil is increasingly being used in the oleo chemicals industry to manufacture erucamide which is used as slip additive chemical in the manufacture of polypropylene films and polythene and. Erucic acid is used as base oil and lubricity additive for lubricants and metal working industry. Erucic acid is a versatile product being used across a wide range of applications including lubricants, plastic, personal care and cosmetics, pharmaceutical amongst others. Its role as chemical intermediate to manufacture a range of chemicals for specialized applications has also created lucrative growth opportunities for the manufacturers.
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Global Erucic Acid Market Dynamics
Global Erucic Acid Market Drivers
The growing regulations for the use of environmental friendly additives for lubricants, polymers processing, metal-working industry amongst others has caused rise in demand for erucic acid. Thus the growing efforts by global manufacturers coupled with stringent regulations especially in North America and Europe is projected to drive the demand for erucic acid over the forecast period.
There global Erucic acid market has witnessed rise in demand from the manufacture of chemicals such as erucamide which is used as an important additive in plastic and polymer films industry. The slip additives are used to avoid the trouble which is caused while opening the plastic bag.
Global Erucic Acid Market Restraints
The high concentration of erucic acid in vegetable oils has posed some serious issues to human health such as deposition of triglycerides which could lead to heart problems.
Global Erucic Acid Market Trends
In the present scenario, only a fraction of potential for Erucic acid had been explored therefore, manufacturers are focusing on the exploring the potential applications for erucic acid. For instance: high erucic acid is used in continuous casting process in the steel processing industry.
Global Erucic Acid Market Segmentation
The global Erucic Acid market can be segmented on the basis of application, end use industry, source, grade and region
On the basis of application, the global Erucic acid market can be segmented as:
Chemical manufacturing
Erucic acid N Compounds
Erucamide
Erucyl ester
Erucyl alcohol
Behenic acid
Behenic alcohol
Glycerol tribehenate
On the basis of end use industry, the global Erucic acid market can be segmented as:
High temperature lubricants and metal working
Plastic
Printing ink
Personal care
Rubber
Pharmaceutical
Others
On the basis of source, the global Erucic acid market can be segmented as:
Rapeseed oil
Canola
Tame mustard
Fish
Others
On the basis of grade, the global Erucic acid market can be segmented as:
Erucic acid 43-50%
Erucic acid>50%
Global Erucic Acid Market: Regional Outlook
In terms of regional outlook, the global demand for Erucic acid is projected to be dominated by Europe and North America region. These regions also hold a noteworthy share in terms of production of Erucic acid as major production of rapeseed, canola amongst others is being cultivated across these regions. The stringent regulations and shift of manufacturers to use of eco-friendly additives has generated significant traction in the erucic acid demand in the regions. Regions such as Asia Pacific predominantly China and India are projected to expand at relatively higher growth rate over the forecast period owing to the significant growth of major end use industries such as lubricants for metal working, inks and pharmaceutical amongst others. Latin America is also projected to witness significant rise in demand for erucic acid. The growing agricultural production for major oil seeds in the region has also created its noteworthy share in production. Middle East and Africa is projected to expand at moderate growth rate over the forecast period.
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Global Erucic Acid Market Participants
Some of the market participants identified across the value chain of global Erucic Acid market are:
The global Erucic Acid market is a highly fragmented market
Wilmar International Limited
Bunge North America
Perdue Agribusiness
Naturescrops International
Vantage Specialty Chemicals