Brassylic Acid Market to See Huge Growth During 2019 to 2026

Research Dive published a report, titled, "Brassylic acid market by Raw Material Type (Paraffin: Global Opportunity Analysis and Industry Forecast, 2019-2026". According to the report, the global market of brassylic acid was valued at $5.66 Billion in 2018, and is expected to garner $7.5 Billion by 2026 and grow at a CAGR of 3.7% from 2019 to 2026.
Brassylic acid is primarily used for the synthesis of fragrances and a potential alternative for polycyclic acid as it is an easily degradable chemical compound. Polycyclic mush such as Phantolide faces few challenges as they are not environmental friendly. Therefore, Brassylic Acid used for synthesis of macrocyclic musk

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Growth of perfume and fragrance industry, emerging applications of brassylic acid such as PVC & plasticizers, and increasing use of renewable feedstock is expected to boost the growth of the brasssylic acid market. Therefore, increasing applications of brassylic acid in plastics, lubricants and adhesive industry, is expected to fuel the demand of brassylic acid throughout the forecast period. However, adverse effects of brassylic acid and availability of alternatives is expected to hamper the growth of brassylic acid market during the forecast period.

Key drivers of the Brassylic Acid Industry
Increase in the use of brassylic acid in the manufacturing of perfumes is expected to drive the growth of the market in the near future. On the other hand, increase in the use of renewable sources such as vegetable oil that is low in price and easily obtainable, for the production of brassylic acid is also projected to fuel the growth of brassylic acid industry during the forecast period. However, adverse effects of brassylic acid and availability of substitutes are expected to hinder the growth of global brassylic acid market during the forecast period.

Chemical segment to maintain its dominating position by 2026:
By production method, the chemical segment held the largest market share in the brassylic acid market in 2017, contributing around 88% of the total share, and is anticipated to maintain its dominant position during the forecast period. Chemical production method is expected to gain highest market share mainly because of its low cost and easy to follow procedure. On the other hand, the fermentation segment is estimated to grow at the highest CAGR of 3.8% from 2018 to 2026. This is attributed to the numerous factors such as less requirement of skilled labor, low waste generation, and other.

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Market players holding the major share
o Palmary Chemical
o Nangtong Senos Biotechnology Co. Ltd
o Zibo Guangtong Chemical Co. Ltd
o Shanghai Kaleys Holding Co. Ltd
o Cathay Industrial Biotech
o Beyo Chemical Co. Ltd
o Unisource Chemical Pvt. Ltd
o Larodan AB, Evonik Industries

Key Finding of the Brassylic Acid Market:
o Based on raw material type, vegetable oil segment generated the highest revenue in 2018.
o Based on application, fragrances segment was the highest revenue contributor in 2018.
o Based on production method, Chemical method contributed the highest market revenue in 2018.
o Based on region, Europe is anticipated to exhibit the highest CAGR during the forecast period.

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