The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

Steady Growth and Projections

• The heptanoic acid market has experienced consistent growth, reaching $2.95 billion in 2023.
• A moderate CAGR of 2.7% is expected to drive the market to $3.03 billion in 2024.
• The forecast period indicates steady growth, projecting a market size of $3.4 billion by 2028, with a CAGR of 2.9%.

Cosmetics Industry as a Growth Catalyst

• The surge in the cosmetics industry is a pivotal driver for heptanoic acid market growth.
• Heptanoic acid finds application as a fragrance ingredient, contributing to the pleasant aroma of various personal care products.
• Notably, the UK’s cosmetic industry, as per CTPA’s 2022 Annual Report, reflects significant growth in fragrance and color cosmetics sales, showcasing the rising demand.

Key Players

• Thermo Fisher Scientific Inc.
• INEOS Group Limited
• International Flavors & Fragrances Inc.
• Arkema S.A.
• Lanxess AG

Additional Players

• EMD Millipore Corporation
• OQ Chemicals GmbH
• Sigma-Aldrich Corp
• Alfa Aesar GmbH & Co. KG
• MP Biomedicals LLC

Market Disruptions Amidst Russia-Ukraine War

• The Russia-Ukraine war has cast a shadow over the heptanoic acid market.
• Conflict-related destruction of chemical plants raises concerns about the production of heptanoic acid and related compounds.
• Fierce fighting in the Donbas region, as reported by Chemical World, poses the risk of a chemical disaster, hindering market growth.

Impact on Market

• Destruction of chemical plants disrupts production.
• Potential long-term consequences on the heptanoic acid supply chain.

Strategic Acquisition: Lanxess Expands Portfolio

• Lanxess AG’s acquisition of Emerald Kalama Chemical BV in August 2021 for $1.04 billion has strategic implications.
• The move strengthens Lanxess’s portfolio in plastics, paints, coatings, and adhesives industries.
• Emerald Kalama Chemical, a Netherlands-based company, contributes to Lanxess’s chemical prowess.

Strategic Significance

• Reinforcement of Lanxess’s position in key industries.
• Broadening product offerings for enhanced market presence.

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Market Segmentation

• Grade: Pharmaceutical Grade, Industrial Grade, Food Grade
• Application: Cosmetic, Flavors and Fragrance, Chemical Synthesis, Lubricant, Pharmaceutical Ingredients, Anti-corrosion Applications, Other Applications
• End-Users: Automotive, Aerospace, Food And Beverage, Cosmetics And Personal Care, Pharmaceuticals, Chemicals, Other End-Users

Regional Dominance and Outlook

• Asia-Pacific stands as the largest region in the heptanoic acid market in 2023.
• A significant market outlook in the region indicates sustained growth and opportunities.

Future Trends in Heptanoic Acid Market

• Technological Advancements:
  • Ongoing innovations in production processes.
  • Continued relevance in agriculture applications.
  • Innovations in cosmetics and personal care.
  • Advancements in surfactants and detergents.

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The Heptanoic Acid Global Market Report 2023  provides an overview of the heptanoic acid market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The heptanoic acid market forecast analyzes heptanoic acid market size, heptanoic acid market share, leading competitor and their market positions.

The Table Of Content For The Heptanoic Acid Market Include:
1. Heptanoic Acid Market Executive Summary
2. Heptanoic Acid Market Segments
3. Heptanoic Acid Market Size And Heptanoic Acid Market Growth Rate
4. Key Heptanoic Acid Market Trends
5. Major Heptanoic Acid Market Drivers
……
25. Key Mergers And Acquisitions In The Heptanoic Acid Market
26. Top Heptanoic Acid Companies
27. Heptanoic Acid Market Opportunities And Strategies
28. Heptanoic Acid Market, Conclusions And Recommendations
29. Appendix

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