Press release
Heptanoic Acid Market Report 2024: Strategies And Recent Developments | Thermo Fisher Scientific Inc., INEOS Group Limited, International Flavors & Fragrances Inc., Arkema S.A.
Heptanoic Acid Market Trends
The Business Research Company offers in-depth market insights through Heptanoic Acid Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth 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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Market Segmentation:
The main types of heptanoic acid grades are pharmaceutical grade, industrial grade and food grade. Pharmaceutical grade refers to a standard of purity and quality that is established by the United States Food and Drug Administration (FDA) or the United States Pharmacopeia (USP) for drugs, biologics, reagents and other substances that are approved for human or animal consumption. The various applications are cosmetics, flavors and fragrances, chemical synthesis, lubricants, pharmaceutical ingredients, anti-corrosion applications and others, used in automotive, aerospace, food and beverage, cosmetics and personal care, pharmaceuticals, chemicals and others.
Major Driver - Heptanoic Acid Market Surges As Demand For Cosmetic Products Soars
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.
Competitive Landscape:
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.
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Top Trend -
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Heptanoic Acid Market Characteristics
3. Heptanoic Acid Market Trends And Strategies
4. Heptanoic Acid Market - Macro Economic Scenario
5. Heptanoic Acid Market Size And Growth
…..
27. Heptanoic Acid Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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Product Name - Heptanoic acid
Molecular Weight - 130.18 g/mol
Chemical Formula - C7H14O2
Synonyms - Enanthic acid, 111-14-8, n-Heptanoic acid, Oenanthic acid
Currency - US$ (Data can also be provided in local currency)
Supplier Database Availability - Yes
Customization Scope - Our services can be customized as per the requirements of the customer
Post-Sale Analyst Support - 360-degree analyst support after service delivery
Region/Countries for which Data is available
Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines,…
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