Technavio analysts forecast the global sebacic acid market to grow at a CAGR of over 4% during the forecast period, according to their latest market research report.
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Technavio has released a new market research report on the global sebacic acid market for the period 2018-2022. (Graphic: Business Wire)
The increasing demand for EVs is one of the major trends being witnessed in the global sebacic acid market 2018-2022. The rise in the global sales of EVs negatively affects the sales of bromine and its derivatives. EVs use zinc-bromine batteries due to their cost-effectiveness and display of enhanced performance characteristics. Moreover, their environment-friendly attributes make them preferable over lead-acid batteries. Thus, the increase in the sale of EVs has decreased the use of sebacic acid, as this acid is generally used in IC engines in conventional vehicles as a coolant.
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According to Technavio analysts, one of the key factors contributing to the growth of the global sebacic acid market is the increasing demand for sebacic acid in the automotive industry:
Global sebacic acid market: Increasing demand for sebacic acid in the automotive industry
In automotive, aircraft, and truck engines, sebacic acid is used as a corrosion inhibitor and also as a coolant fluid. Additionally, it is used to produce complex grease and lubricants as well as polyvinyl chloride materials. In the form of sebacate esters, sebacic acid is used as a plasticizer in PVC films to provide low-temperature flexibility and freedom from cracking. In the automotive industry, PVC is used in wide-ranging applications such as manufacturing cable insulation and grommets, dashboards, door panels seating, armrests, and exterior parts, which include body side protection strips, weatherstrips, and windows sealing profiles.
According to a senior analyst at Technavio for research on specialty chemicals, "Major automotive manufacturing countries, such as Germany, Italy, the US, India, China, and others have been using sebacic acid as a coolant as well as in the manufacturing of PVC. Therefore, during the forecast period, the increasing automotive vehicle production globally is expected to drive the demand for sebacic acid."
Global sebacic acid market: Segmentation analysis
The global sebacic acid market research report provides market segmentation by application (polymer manufacturing, coolants, industrial use, and ester manufacturing), and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The polymer manufacturing segment held the largest market share in 2017, accounting for 33% of the market. This application segment is expected to dominate the global market throughout the forecast period.
APAC led the market in 2017 with a market share of 85%. This region is expected to dominate the market through 2022, with over 1% increase in its market share.
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