The global brassylic acid market size is expected to experience considerable growth backed by the growing demand for premium perfumes and the growing demand for adhesives across the globe. This information is published by Fortune Business Insights in its upcoming report
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List of the Companies Profiled in the Global Market for Brassylic Acid:
- Cathay Industrial Biotech, Ltd.
- Palmary Chemical
- Unisource Chemicals Pvt. Ltd.
- Zibo Guangtong Chemical Co., Ltd.
- Beyo Chemical Co., Ltd
- Larodan Ab
- Evonik Industries
- Nantong Senos Biotechnology Co., Ltd.
- Shanghai Kaleys Holding Co., Ltd.
- Others
Market Segmentation:
We have segregated the global market for brassylic acid based on product type, application, process, and region. On the basis of product type, the market is segmented into paraffin oil and vegetable oil. Based on application, the market is divided into fragrances, adhesives, plastics and others. Moreover, on the basis of process, the market is segmented into chemical and fermentation. Lastly, based on the region, the market is categorized into Europe, Latin America, North America, Asia-Pacific, and the Middle East and Africa.
What does the Report Provide?
The global market for brassylic acid report provides a detailed analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies by them to introduce new products, announce partnerships, and collaboration that will further contribute to the market growth. Moreover, the research analyst has adopted several research methodologies such as PORTER’s Five Point Analysis and PESTEL to obtain information about the current trends and industry developments that will drive the market growth between 2020 and 2027.
DRIVING FACTORS
Increasing Demand for Premium Perfumes to Aid Growth
The rapid-paced urbanization and the high disposable income of the working population is expected to drive the demand for premium perfumes globally. Moreover, the growing demand for customization trend is propelling the manufacturers to introduce new fragrances to cater to the consumer’s demand. For instance, in February 2021, Bulgari announced the launch of new customized perfume fragrances with the launch of its Allegra collection that comes with magnifying essence to enable customers to personalize their perfumes as per personal taste. This is expected to boost the adoption of advanced brassylic acid for perfume manufacturing purposes. Moreover, the growing demand for adhesives in the construction sector is anticipated to bode well for the global brassylic acid market during the forecast period.
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REGIONAL INSIGHTS
Asia-Pacific – The region is expected to hold the largest global brassylic acid market share in terms of revenue during the forecast period. This is attributable to the high disposable income of the working population and the evolving lifestyle of consumers that will boost the adoption of brassylic acid for manufacturing premium grade perfumes in the region.
Latin America – The region is expected to experience moderate growth backed by the limited presence of manufacturers and sparse availability of substitutes that will impact the demand for brassylic acid in the region between 2020 and 2027.
COMPETITIVE LANDSCAPE
Prominent Companies Focus on Expanding Facilities to Strengthen Their Footprint
The global market for brassylic acid comprises small, medium, and large companies striving to maintain their stronghold by expanding their production facilities to cater to the growing industrial demand. Additionally, adoption of strategies such as partnership, collaboration, and merger and acquisition by other key players is expected to bode well for the growth of the market.
Industry Development:
- July 2020 - Evonik, a leading engineered polymer technology provider, announced the launch of its new manufacturing center for 3D printing located in Texas. The company aims to strengthen its position in the global marketplace with its proactive expansion strategies.
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