Analysis of Erucic Acid market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
The evolving trend of manufacturing chemical substances from green feedstock is fueling the erucic acid market significantly. Increasing demand for erucic acid in the metalworking and plastic additives industry is also creating ample opportunities for manufacturers operating in the erucic acid market.
HEAR (High Erucic Acid Rapeseed Oil) is widely utilized by numerous industries, which contains about 43% of erucic acid. Global consumption of erucic acid for industrial applications stood at more than 1.2 Mn tons. Historically, demand for erucic acid in the food and pharmaceutical industry has witnessed stagnant growth in the recent past, however, the demand is likely to improve, especially in the food and pharmaceutical industry in the years to come.
A wide range of applications in plastic, personal care, and lubricants is likely to boost the demand for erucic acid in Asian countries. Certain drawbacks of erucic acid in terms of its end-use applications has been created concern among consumer groups. For instance, a high concentration of erucic acid in vegetable oils leads to severe heart-related issues such as the deposition of triglyceride. Rigorous R&D activities are essential to eliminate such drawbacks and thus improve the product lifecycle of erucic acid.
The global market of erucic acid is likely to experience substantial growth during the forecast period, owing to the increasing demand for food additives and various industrial applications. Erucic acid will grow substantially during the forecast period, largely dominated by East Asia, which is expected to continue throughout the forecast period. Europe and North America are expected to showcase a significant growth over the forecast period.
Key players in the erucic acid market are focusing on developing erucic acid, especially for the use of antioxidants in the preservation of edible oils. Growing regulations for use of environmentally friendly additives for polymer processing, lubricants, and the metal-working industry is expected to boost the market growth in developed countries. Demand for ercic acid by plastic and polymer industries in China is anticipated to create lucrative opportunities for the manufacturers for bulk orders.
Erucic acid has a long chain of fatty acids, which is essential for any animal feed ingredient. Erucic acid is present in several feed ingredients, where fish feed has been observed to be amongst the key end-use sectors. Plenty of research and development activities are being carried out by researchers to minimize side-effect of erucic acid on fish. Although, the usage of erucic acid in fish feed is in a nascent stage, these R&D efforts it has the potential to become an important end-use sector by the end of the forecast period.
Global erucic acid market is moderately fragmented with the presence of large and mid-sized players. While, large players are focusing on research and development to derive long-term results, mid-sized players are aligning their concentration towards building cuctomer-relationships.
Some key market participants are Bunge North America, Perdue Agribusiness, Vantage Performance Materials, Premium crops, Wilmar International Limited, Naturescrops International, Vantage Specialty Chemicals, among other prominent players.
The research report presents a comprehensive assessment of the erucic acid, and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data.
It also includes projections using a suitable set of assumptions and methodologies for the erucic acid. The research report provides analysis and information according to the erucic acid segmented into grade, application, source, end use industry and region
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The report is a compilation of first-hand information of qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain of the erucic acid. The report provides in-depth analysis of parent market trends, macro-economic indicators, and governing factors, along with market attractiveness as per segments of the erucic acid. The report also maps the qualitative impact of various market factors on market segments and geographies.
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The Erucic acid has been segmented into different parts based on grade, application, source, end use industry and region
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