The global undecylenic acid market is expected to post a CAGR of nearly 5% during the period 2018-2022, according to the latest market research report by Technavio
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Technavio has released a new market research report on the global undecylenic acid market for the period 2018-2022. (Graphic: Business Wire)
A key factor driving the growth of the market is the growth of the antifungal drugs market. The use of undecylenic acid as an antifungal drug is a major application. Undecylenic acid is a fatty acid that treats fungal infection by preventing the growth of fungus and can be used for treating fungal skin infections. Antifungal drugs treat fungal skin infections such as Athlete's foot and Jock itch. These drugs perform functions such as prevention of cell division, prevention of cell wall formation, and cell membrane disruption.
This market research report on the global undecylenic acid market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the use of undecylenic acids as feedstocks for the synthesis of polyurethanes and polyols as one of the key emerging trends in the global undecylenic acid market:
Global undecylenic acid market: Use of undecylenic acids as feedstocks for the synthesis of polyurethanes and polyols
The demand for raw materials derived from renewable feedstock is attributed to the concerns regarding the toxic effects of synthetic chemicals. Vegetable oils are used as platform chemicals owing to factors such as universal availability, biodegradability, and low cost. Undecylenic acids are derived from vegetable oil and are used as renewable feedstock in the synthesis of polyurethanes and polyols.
"Polyurethanes are part of an important class of polymers and can range from thermoplastics to thermosetting materials. They are produced by the polyaddition reaction between isocyanates and polyols. Usually, both isocyanates and polyols are petroleum-based, and consumers prefer environment-friendly feedstocks. Manufacturers are replacing conventional petroleum-based polyols with those made from vegetable oils. This shift is expected to increase the demand for fatty acids such as undecylenic acid," says a senior analyst at Technavio for research on specialty chemicals.
Global undecylenic acid market: Segmentation analysis
This market research report segments the global undecylenic acid market by application (cosmetics and perfumes, and polyamides) and geographical regions (APAC, EMEA, and the Americas).
The cosmetics and perfumes segment held the largest market share in 2017, accounting for 45% 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 56%. This region is expected to dominate the market through 2022, with over 1% increase in its market share.
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