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Global Heptanoic Acid Market- Overview, Statistics and Top Key Players, 2020-2030

 

Heptanoic Acid: Introduction

 

·         Heptanoic acid is a vital organic element for the synthesis of a range of chemical compounds. Led by the high anti-corrosive profile of heptanoic acid and its exceptional performance at high and low thermal surroundings, it is widely employed in the form of esters for lubricants in industries such as automobile, aviation, refrigeration, and air-conditioning.

·         Heptanoic acid is also used for gas chromatography analysis of volatile acids. It is employed in the preparation of pharmaceutical ingredients; and esterification of steroids.

·         Heptanoic acid is a highly efficient corrosion inhibitor that protects iron, copper, zinc, and aluminum. When used as a salt derivative (sodium heptanoate), it exhibits good stability in hard water and inhibits calcium precipitation.

 

Key Drivers of Heptanoic Acid Market

 

·         Heptanoic acid possesses properties such as high thermal stability, good resistance to oxidation, low viscosity at low temperature, and low volatility at high temperature. Therefore, it is a first choice for lubricant applications.

·         Rise in in demand for metalworking fluids is likely to propel the demand for heptanoic acid in the next few years, as it offers strong anti-corrosive properties

·         Of late, demand for specialty lubricants has been rising owing to trends such as increase in construction activities, industrialization in emerging economies, and subsequent rise in demand for highly advanced equipment. Specialty lubricants is likely to be a lucrative area for the heptanoic acid market by 2030.

·         Demand for heptanoic acid is expected to be steady as a flavoring agent in the cosmetics & personal care industry by 2030 

·         Stringent environmental regulations associated with the use of lubricants is projected to be a key factor limiting the demand for heptanoic acid during the forecast period

 

Covid-19 Impact on Heptanoic Acid Market

 

·         The global chemicals industry is expected to suffer more than other manufacturing sectors post the coronavirus pandemic, owing to the rise in prices of feedstock and poor demand

·         The global spread of the COVID-19 has substantially disrupted supply chains in the global heptanoic acid market. Low production rates, stockpiled inventory issues, and decreased labor availability are likely to be significant supply-side factors hampering the heptanoic acid market in the immediate future. Weakened consumer sentiment is likely to hinder the global demand for heptanoic acid at least by 2023.

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Heptanoic Acid Market: End-use Industry Segments

 

·         Based on end-use industry, the global heptanoic acid market can be divided into automotive, aviation, HVAC, food & beverages, pharmaceuticals, cosmetics & personal care, and others

·         Heptanoic acid is widely used as a synthetic flavoring ingredient in the production of special lubricants for brake fluids. Demand for heptanoic acid estimated to be high in the automotive industry, especially for vinyl plasticizers and synthetic lubricants, wherein it is employed in the synthesis of polyol esters.

·         The cosmetics & personal care industry indicates high potential for heptanoic acid in the near future, as it is used as a chemical intermediate in the synthesis of bio-based skin conditioning agents, emollients, and viscosity controlling agents such as glyceryl triheptanoate and stearyl heptanoate

·         Demand for is anticipated to rise in the pharmaceuticals industry by 2030, particularly for the preparation of drugs including trenbolone enanthate, testosterone  enanthate, drostanolone enanthate, and methenolone enanthate

 

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North America to be Key Region of Global Heptanoic Acid Market

 

·         In terms of region, the global heptanoic acid market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa

·         Asia Pacific is estimated to lead the global heptanoic acid market during the forecast period. China’s leading position in production and consumption of heptanoic acid is expected to contribute to the region’s market share by 2030. Expanding manufacturing sector in India and Southeast Asian countries is likely to further propel the demand for heptanoic acid in the near future.

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Key Manufacturers Operating in the Market

The global heptanoic acid market was fragmented in 2019. Key manufacturers operating in the global market include:

·         Arkema

·         Tokyo Chemical Industry Co., Ltd.

·         ACME SYNTHETIC CHEMICALS

·         Akshay Chemicals

·         OQ Chemicals GmbH

 

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