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Heptanoic Acid Market: Trends, Share, Size, Key Profiles, In-Depth Analysis And Forecast To 2033
Heptanoic Acid Market
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.
Market Overview -
Heptanoic acid is an aliphatic carboxylic acid, also known as enanthic acid, an organic compound composed of a seven-carbon chain terminating in a carboxylic acid functional group. It's a white, greasy liquid with a robust putrid stench. It helps to mask the odor of some rancid oils. It is merely soluble in water but highly soluble in ethanol and ether. Heptanoic Acid prepares esters for the fragrance industry, contributing to the scent and aroma of various products.
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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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Key Segments -
The heptanoic acid market covered in this report is segmented -
1) By Grade: Pharmaceutical Grade; Industrial Grade; Food Grade
2) By Application: Cosmetic; Flavors and Fragrance; Chemical Synthesis; Lubricant; Pharmaceutical Ingredients; Anti-corrosion Applications; Other Applications
3) By End-Users: Automotive; Aerospace; Food And Beverage; Cosmetics And Personal Care; Pharmaceuticals; Chemicals; Other End-Users
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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