The new report by Expert Market Research titled, ‘Global Erucic Acid Market Report and Forecast 2021-2026’, gives in-depth analysis of the global erucic acid market, assessing the market based on its segments like source, grade, application, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026):
Forecast CAGR (2021-2026): 3.2% (High Erucic Acid Rapeseed Market)
There has been a major increase in demand for erucic acid due to the increasing trend in the production of green feedstock chemicals. Demand for chemicals dependent on erucic acid has greatly increased in the plastic additive and metalworking industries. In the oleo-chemical industry, the high erucic acid rapeseed oil (H.E.A.R.) is increasingly used to produce erucamide, which is used as a slip additive chemical in the production of polypropylene films and polythene. Its function as a chemical intermediate for the manufacture of a variety of chemicals for specialised applications has also provided producers with lucrative growth opportunities.
Industry Definition and Major Segments
Erucic acid is used as a critical oil and lubricity additive in lubricants and in the metalworking industry. Erucic acid is a versatile material that is used in many ways, including lubricants, plastics, cosmetics and personal care, and pharmaceuticals. It has a long chain of fatty acids that is important for any feed ingredient.
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On the basis of source, the industry is divided into:
On the basis of grades, the industry is divided into:
On the basis of application, the industry is divided into:
On the basis of region, the industry is divided into:
Middle East and Africa
The increasing regulations for the use of environmentally friendly lubricant additives, the manufacturing of polymers, the metalworking industry and others have contributed to an increase in demand for erucic acid. Increasing efforts by global producers in accordance with strict regulations, especially in North America and Europe, are therefore projected to drive demand for erucic acid over the forecast period. The worldwide market for erucic acid is expected to be driven by regions in Europe and North America. These regions also hold a noteworthy share in the production of erucic acid, as canola is grown in these regions, among others, as the main production of rapeseed. Due to the significant growth of major end-use industries such as metalworking lubricants, inks, and pharmaceuticals, among others, regions such as Asia Pacific, mainly China and India, are projected to expand at a relatively higher growth rate over the forecast period. Important growth in demand for erucic acid is also expected in Latin America.
Key Market Players
The major players in the market are Bunge Limited, Perdue Farms Inc., Vantage Specialty Chemicals, Acme Soap Works, and Godrej Industries Limited, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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