Limonene Market Analysis, Industry Trends 2019: Top Key Players Florida Chemical Company, Lemonconcentrate, S.L., Schepise Chemical Sales, LLC, Orchidia Fragrances, Citroflavor Óleos Essenciais, EZclean, Frutech International Corporation S.A. de C.V.
U.S. limonene market size was dominant and accounted for over 50% of the total demand in 2015. Central and South America, mainly driven by Brazil economy and orange production & export, is likely to be the fastest growing region up to 2023.
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Increase in workplace safety awareness coupled with decrease in chlorofluorocarbons (CFCs) and ozone depleting chemicals usage is likely to drive limonene market growth trend. It is an effective solvent for directly replacing toxic component in existing solvent blends. For e.g., d-limonene is substituted for 1,1,1-tri-chor or xylene in blends.
The limonene market price trend experiences fluctuation which is expected to squeeze company profit margins. This is likely to challenge industry growth and price management efforts by manufacturers and blenders which use the product in degreasers or citrus cleaner applications. This is due to the orange production lag owing to innumerable weather which creates supply demand deficit.
Some halogenated hydrocarbon solvents can cause adverse health effects for workers. Their use is curtailed under regulations or eliminated. Also, many solvents are flammable, thereby restriction use in situations where explosion and fire are safety concerns.
Increasing personal care product demand owing to health concerns is likely to drive limonene industry over the coming years. Global personal care ingredients market size was is likely to be worth over USD 18 billion by 2023, with estimated gains at over 5%.. Solvent derived hand cleaners contain almost 30% solvent. With 10%, d-limonene is proven to be much more effective than solvent derived hand cleaners.
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Increasing aerosol propellants demand is likely to drive market over the coming years. Global aerosol propellants market size was estimated at more than 9 million tons in 2015 and is likely to cross 13 million tons in 2023, at a CAGR of over 4.5%. It can be substituted for solvents such as xylene and tri-chor used in sprays for degreasing and cleaning applications.
Other applications include adhesive removal, marine vessel cleaning, asphalt grading, solvent carriers, printing ink cleaners, spot & stain removers and release agents.
Myralene use as industrial solvent is likely to challenge industry growth. Myralene is used as a substitute product owing to low cost and better cleaning properties without environmental concerns. Increasing investment in by companies to develop product at low costs for niche applications is likely to open new growth avenues for industry players.
The global limonene market share is characterized by competition based on prices and service provided to clients. Major industry participants are based in the U.S. and Brazil. Major companies include Florida Chemical Company, Lemon Consentrate S.L., XR-2000, Inc. and Schepise Chemical Sales, LLC. Other prominent players include Orchidia Fragrances, Sharp Methanol India Ltd, Citroflavor Essential Oils, Hunter Sales, Inc., EZclean and Frutech International.
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