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9 Decanoic Acid Methyl Ester Market

9 Decanoic Acid Methyl Ester Market Size, Share, Forecast & Growth Analysis, By Application (Flavors & Fragrances, Pharmaceuticals and other Applications), and Region - Global Market Insights 2022-2032

Analysis of 9 Decanoic Acid Methyl Ester Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more

9 Decanoic Acid Methyl Ester Market Outlook (2022-2032)

The global sales of 9 Decanoic Acid Methyl Ester Market in 2021 was held at US$ 207.5 Million With 6.6% CAGR during 2022 - 2032, the market growth is projected to reach a valuation of US$ 411.2 Million by 2032.

Flavors & Fragrances application of 9 Decanoic Acid Methyl Ester Market is expected to be the highest revenue-generating segment, projected to grow at a CAGR of over 6.9% during 2022 - 2032.

Report Attributes

Details

Global Market Size (2022)

US$ 217.6 Million

Global Market Size (2032)

US$ 411.2 Million

Global Market CAGR (2022-2032)

6.6%

U.S. Market CAGR (2022-2032)

5.4%

Key Companies Covered

  • BASF SE
  • Sigma-Aldrich
  • Elevance Renewable Sciences, Inc
  • Matreya LLC
  • Arkema
  • Chemsky International Co., Ltd
  • Adamas Reagent Ltd
  • Cayman Chemical
  • P&G Chemicals
  • Tokyo Chemical Industry Co. Ltd

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Revenue of 9 Decanoic Acid Methyl Ester Market from 2017 to 2021 Compared to Demand Outlook for 2022 to 2032

As per the Global 9 Decanoic Acid Methyl Ester Market research by Fact.MR - a market research and competitive intelligence provider, historically, from 2017 to 2021, the value of the 9 Decanoic Acid Methyl Ester Market increased at around 4.9% CAGR.

The key revenue drivers which affect the 9 Decanoic Acid Methyl Ester demand include an increase in the production of palm oil, in the flavors and fragrances industry and increase in demand of oleochemicals.

Foods like jams, jellies, dairy products, desserts, wines, and condiments use 9-decanoic acid methyl ester as an artificial flavoring. Due to its pleasant fragrance, it is also frequently used in perfumes. Some of the key factors driving the growth of the global 9-decanoic acid methyl esters market include shifting consumer lifestyles, and expansion of the food and beverage sector. Transesterification is the procedure used to produce the methyl ester of 9-decanoic acid.

Palm oil and coconut oil are the two main raw materials used to manufacture 9-decanoic acid methyl ester. The production of methyl decanoate and biodiesel is expected to expand with a sufficient supply of these natural oils. The majority of the palm oil produced in APAC at over 85%, is produced in Malaysia and Indonesia. It is estimated that Sumatra and Kalimantan will have a good capacity for producing palm oil during the projected period.

Companies like Wilmar International and Musim Mas Holdings are among Indonesia's largest palm oil producers. The top three countries importing palm oil in the APAC region are Pakistan, China, and India. As a result, the market for 9 decanoic acid methyl ester is expected to grow due to the global rise in palm oil production.

Oleochemicals, which are directly derived from plant and animal sources, are utilized to make decanoic acid methyl ester. Fatty acids, fatty alcohols, fatty acid methyl esters, and glycerol are a few of the essential oleochemicals. Decanoic acid can be extracted from renewable resources such as seed oils, animal fats, palm, coconut, and palm kernel oils. About 10% of decanoic acid is naturally present in coconut oil, and the remaining 5% is almost entirely derived from palm kernel oil.

Many hydrocarbons and volatile organic compounds are released directly into the environment by chemicals generated from petrochemical sources (VOCs). The World Conservation Organization (WNO), the United Nations Environment Program (UNEP), and the Environmental Protection Agency (EPA) have all pushed consumers to convert to biodegradable products and reduce their consumption of petrochemical products as a result.

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Which Factors Are Propelling 9 Decanoic Acid Methyl Ester Demand?

The key factors which are propelling the 9 Decanoic Acid Methyl Ester demand are an increase in demand for medical drugs, cosmetics, and personal care products.

In comparison to the time before to Covid-19, a recent study posted on JAMA Network found that there has been an increase in drug demand worldwide from public hospitals. Corticosteroids and heparin, for example, are said to have grown by 24.7% and 49.05%, respectively. The need for 9-decanoic acid methyl ester, which is necessary for the manufacture of medications, will rise dramatically in response to the rising demand for drugs and treatments, spurring market expansion in the years to come.

The fatty acid 9-decanoic acid methyl ester is frequently found in cosmetics and personal care items such moisturizers, lotions, lipsticks, soaps, shampoos, and other helpful skincare products for eczema, psoriasis, and dry skin. A recent analysis on Redseer found that India's beauty and personal care sector, which includes products like shampoo, soap, deodorant, shaving kits, hand cleaners, among others, has a sizeable market of 75% and is projected to rise by 9% by 2022.

The market for 9-decanoic acid methyl ester will expand in the forthcoming years as a result of the rising demand for cosmetics and personal care products, which also raises the need for the 9-decanoic acid methyl ester needed to produce those items.

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What Factors are restraining the growth of 9 Decanoic Acid Methyl Ester Market?

The market growth is hampered by the high cost of extracting esters from naturally existing oils. In general, it is relatively expensive to extract esters from naturally existing oils. The catalyst's high price, which is essential for the metathesis required for the creation of methyl esters, is the main cause for this.

In addition, as compared to the output from synthetic sources, the overall yield from natural sources is likewise extremely low. Another factor contributing to the high cost of methyl ester extraction is the erratic quality and output of glycerol. As a result, the market expansion is projected to be constrained by the high capital cost associated with the extraction of methyl esters.

Which Region is projected to offer the Largest Opportunity for 9 Decanoic Acid Methyl Ester Market?

During the projection period, North America is expected to be the largest 9 Decanoic Acid Methyl Ester Market. During the projected period the regional market is expected to grow at a CAGR of 5.4%. Various factors that are responsible for it include the high expenditure of North American countries. Growing consumer demand for natural products is expected to have a positive impact on the industry in North America.

Country-wise Analysis

U.S. 9 Decanoic Acid Methyl Ester Market Analysis

The United States is expected to account for the highest market of US$ 102.4 Mn by the end of 2032. It is expected to be projected to have an absolute dollar growth of US$ 42.5 Mn. The market for 9-decanoic acid methyl ester is expanding as a result of rising income levels and increased usage as a result of its extensive use in the food, flavor, and fragrance industries. The sedentary and quick-paced lifestyle of Americans is the core factor for the rise in its consumption.

The market for 9 decanoic acid methyl ester in the country is also growing due to the presence of companies such as BASF SE, Sigma-Aldrich, Elevance Renewable Sciences, Inc, Matreya LLC, Cayman Chemical, and P&G Chemicals, in the region.

U.K. 9 Decanoic Acid Methyl Ester Market Analysis

The market for 9 Decanoic Acid Methyl Ester in the U.K. is projected to reach a valuation of US$ 20.1 Mn by 2032. Growing at a CAGR of 7.4% during 2022 – 2032, the market is projected to garner an absolute dollar opportunity of US$ 10.3 Mn.

Japan 9 Decanoic Acid Methyl Ester Market Analysis

Japan is one of the most urbanized countries globally owing to which it stands as one of the key users of 9 Decanoic Acid Methyl Ester globally. The Japanese market is projected to grow at a CAGR of 8.1% during 2022 - 2032 to reach a valuation of US$ 21.6 Mn by 2032. The market is projected to register an absolute dollar growth of US$ 11.6 Mn during 2022 – 2032.

South Korea 9 Decanoic Acid Methyl Ester Market Analysis

The South Korean market for 9 Decanoic Acid Methyl Ester is projected to reach a valuation of US$ 9.9 Mn by 2032, expanding at a CAGR of 5.7% during 2022 - 2032. During this period the market is likely to register an increase of US$ 4.2 Mn.

Category-wise Insights

Which application of 9 Decanoic Acid Methyl Ester is expected to be Most Lucrative?

9 Decanoic Acid Methyl Ester is widely utilized in Flavors & Fragrances. Its demand growth in Flavor & Fragrances application was recorded at 5.3% during 2017 - 2021, while it is expected to grow at a CAGR of 6.9% during 2022 - 2023.

With a demand of 452 tons in 2015, the flavors and fragrances application category became the market's largest application segment. The desire for tastes and fragrances made from natural sources and shifting consumer preferences are both factors that contribute to market penetration.

Esters are used to providing fruit flavors to a variety of goods, including jams, jellies, dairy products, and wine. Despite being expensive and time-consuming, these considerations have increased the demand for ester extraction from natural sources.

In the upcoming years, there will probably be an increase in demand for functional products created using eco-friendly manufacturing techniques and flavors created utilizing bio-based chemicals. The tendency of consumers to experiment with flavors is anticipated to open up new chances for market leaders in 9-decanoic acid methyl ester.

The fragrance industry is also been used for various aromatherapies, in countries like India various aroma therapies are practiced as well as usage of fragrances are done as ittar and incense have been used, Since ancient times, and the ancient royal lore included the use of essential oil scents. Ayurveda, which advocated the use of aromatic herbs and fragrant plants for mental well-being, beauty, the treatment of illnesses, hygiene, and age control, introduced the first perfumes that were employed.

Competitive Analysis

Some of the key players in the 9 Decanoid Acid Methyl Ester Market include BASF SE, Sigma-Aldrich, Elevance Renewable Sciences, Inc, Matreya LLC, Arkema, Chemsky International Co., Ltd, Adamas Reagent Ltd, Cayman Chemical, P&G Chemicals, and Tokyo Chemical Industry Co. Ltd.

Some of the recent developments in the 9 decanoic acid methyl ester market are :

  • In August 2021, according to a statement from BASF and SINOPEC, the Verbund subsidiary, managed by BASF-YPC Co., Ltd., a 50/50 joint venture between the two companies in Nanjing, China, has been enlarged. In order to meet the expanding Chinese market's demands, it entails expanding the production of multiple downstream chemical plants and constructing a new tert-butyl acrylate factory.
  • In July 2020, Larodan AB, a manufacturer and global marketer of high-purity, research-grade lipids, has been acquired by ABITEC Corporation.

9 Decanoic Acid Methyl Ester Market Segmentation

  • By Application :

    • Flavors & Fragrances
    • Pharmaceuticals
    • Other Applications
  • By Region :

    • North America
    • Latin America
    • Europe
    • APAC
    • MEA

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The global 9 Decanoic Acid Methyl Ester Market is worth more than US$ 217.6 Mn at present.

The value of 9 Decanoic Acid Methyl Ester Market is projected to increase at a CAGR of around 6.6% during 2022 - 2032.

While the market in South Korea is expected to grow at nearly 5.7%, the market in Japan is projected to register a CAGR of nearly 8.1% during 2022 - 2032.

The global demand for 9 Decanoic Acid Methyl Ester is being fueled by a considerable increase in the usage of 9 Decanoic Acid Methyl Ester for drugs, cosmetics and personal care products.

The growth of the market for 9 Decanoic Acid Methyl Ester in China is projected to expand at a CAGR of around 8% during 2022 - 2032.

The growth of the market for 9 Decanoic Acid Methyl Ester in United States is projected to expand at a CAGR of around 5.4% during 2022 - 2032.

The value of 9 Decanoic Acid Methyl Ester Market increased at a CAGR of around 4.9% during 2017 - 2021.

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