Azelaic Acid Market with Top Leading Players like to Witness Astonishing Growth During Forecast 2028 | BASF SE, Croda International plc, Emery Oleochemicals

Global Azelaic Acid Market, by Product Type (Polymer Grade, Pharma Grade, and Technical Grade), by Application (Pharmaceutical, Adhesives, Plastics, Lubricants, Personal Care & Cosmetics, and Others (Plasticizers, etc.)), and by Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis

The global azelaic acid market is estimated to be valued at US$ 393.35 million in 2028 and is expected to exhibit a CAGR of 6.2% over the forecast period (2021-2028), as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Azelaic acid is a naturally occurring acid with antimicrobial and anti-inflammatory properties. It is often used to treat skin conditions, such as acne and rosacea. It helps the skin to renew more quickly and hence reduces acne and blackhead formation, as well as kill bacteria that cause rosacea and acne. Moreover, it is used to clear swelling, lesions, and bumps caused by rosacea (a chronic inflammatory skin condition that usually affects the face), as well as used to treat swelling and pimples caused by acne. Azelaic acid is mild on the skin, however it is a very effectual treatment for inflammatory skin. Azelaic acid is drawn-out from barley, rye, and wheat and is available as cream, foam, and gel. Furthermore, the acid acts as a precursor to a number of industrial products such as organic syntheses, lubricants, alkyd resins, plasticizers, adhesives, lacquers, polyamides, urethane elastomers, etc.

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Competitive Landscape:

Major players operating in the global azelaic acid market are Croda International plc, BASF SE, Emery Oleochemicals, Nantong Hengxing Electronic Materials Co., Haihang Industry Co., Ltd, Matrica S.p.A., Wufeng Chicheng Biotech Co., Ltd., Nantong Jinghua Pharmaceutical Co., Ltd., Xi'an Sonwu Biotech Co., Ltd., and Jiangsu Senxuan Pharmaceutical And Chemical Co., Ltd., among others.

Key Market Drivers:

Increasing use of azelaic acid in pharmaceuticals and cosmetics is expected to boost the growth of the azelaic acid market during the forecast period. Azelaic acid is widely used to treat acne and rosacea. For instance, in November 2018, Glenmark Pharmaceuticals received the Food and Drug Administration (FDA) approval for Azelaic Acid Gel for the treatment of acne. It is a generic version of Finacea Gel (15 per cent) of Leo Pharma.

Moreover, increasing demand for polymers around the world is expected to propel growth of the azelaic acid market. Azelaic acid is often used to manufacture polymers such as polyamides, polyurethane, and polyesters. For instance, in September 2019, Huntsman Corp. announced the opening of its new polyurethanes systems house in Dubai, increasing its capacity to produce polyurethane systems and polyester polyols for customers across the region.

COVID-19 Impact Analysis:

The outbreak of COVID-19 has had a minor impact on the growth of the azelaic acid market, as azelaic acid is widely used for manufacturing many pharmaceutical products, and thus, the production of azelaic acid has not stopped. As it is one of the critical ingredient to manufacture pharmaceutical products, it faced a slight drop in sales due to the lockdown, but the market remained stable throughout the pandemic.

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Key Takeaways:

The azelaic acid market is expected to exhibit a CAGR of 6.2% during the forecast period due to the increasing demand for skin care products. For instance, in March 2022, Trinny London, the beauty brand, launched three liquid exfoliants; Tiptoe In PHA, Balance Me BHA, and Reveal yourself AHA. The trio consists of a PHA, a BHA and an AHA exfoliant, promising the quickest way to a vibrant glow.
Among regions, North America and Asia Pacific are expected to witness robust growth in the azelaic acid market due to the increasing prevalence of skin diseases, increase in use of azelaic acid in various end-use industries, increasing demand for polymers, rise in demand for skin care products, and increasing demand for bio-lubricants in these regions.

For instance, according to the American Academy of Dermatology (AAD), acne is the most common skin condition in the U.S., affects around 40 to 50 million people each year. This in turn is expected to increase the use of azelaic acid in this region.

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This release was published on openPR.