Portland, OR, July 05 2022 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the brassylic acid market accumulated $61.30 million in 2021 and is expected to gross $90.40 million by 2030, registering a CAGR of 4.2% from 2022 to 2030. The report offers a detailed analysis of the changing trends of the market, major segments, major investment pockets, value chain, regional landscape, and competitive scenario.
The increase in the use of brassylic acid in the perfume, polymer, pharmaceutical, cosmetics and chemical sectors has led to an increase in the demand for brassylic acid. This is likely to be the major driving factor for the brassylic acid market over the forecast period. Favorable product characteristics such as low moisture holding capacity, strength and abrasion have made brassylic acid the best choice for nylon, lubricants and adhesives. This will create new growth opportunities for the market over the coming years.
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- The COVID-19 pandemic has resulted in the lockdown which has significantly affected the import and export services, thereby negatively affecting the growth of the global brassylic acid market.
- Brassylic acid finds many applications in a myriad of industries such as the chemical and polymer industries. However, these industries have been greatly affected by the imposed confinement, due to the COVID-19 epidemic. Additionally, a huge drop in brassylic acid sales was recorded in 2020, due to a decrease in labor and a disrupted supply chain.
The report offers a detailed segmentation of the global brassylic acid market based on form, application, and region.
Based on form, the powders segment contributed the largest market share in 2021, accounting for nearly two-thirds of the overall global brassylic acid market share. Moreover, this segment is expected to register the highest CAGR of 4.4% from 2022 to 2030. The report also discusses segments comprising of flakes and diluted.
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Based on application, the fragrance segment accounted for the largest share of the brassylic acid market in 2021, contributing nearly one-third of the overall global market share. However, the polymer segment is expected to register the highest CAGR of 5.0% from 2022 to 2030.
Based on region, Europe contributed the highest market share in 2021, accounting for nearly two-fifths of the global brassylic acid market. Moreover, the Asia-Pacific Brassylic Acid Market Expected to Register Fastest CAGR by 5.1% from 2022 to 2030.
Key players profiled in the global brassylic acid market research report are Beyo Chemical Co. Ltd, Cathay Industrial Biotech, Nangtong Senos Biotechnology Co. Ltd, Palmary Chemical, Evonik Industries, Unisource Chemical Pvt. Ltd, Zibo Guangtong Chemical Co. Ltd, Larodan AB and Shanghai Kaleys Holding Co. Ltd.
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Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global corporations as well as small and medium enterprises with unrivaled quality of “market research reports” and “Business Intelligence solutions”. AMR has a focused vision to provide business insights and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market area.
Pawan Kumar, CEO of Allied Market Research, directs the organization towards the provision of high quality data and information. We maintain professional relationships with various companies which helps us to extract market data which helps us to generate accurate research data tables and confirm the utmost accuracy of our market predictions. All data presented in the reports we publish are drawn from primary interviews with senior managers of large companies in the relevant field. Our secondary data sourcing methodology includes extensive online and offline research and discussions with knowledgeable industry professionals and analysts.