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Impact of Covid-19 on Isononanoic Acid Market

 Isononanoic Acid: Introduction

 

·         Isononanoic acid is a type of fatty acid with nine carbon atoms. It is also called pelargonic acid. Its chemical formula is C9H18O2. Isononanoic acid is obtained by oxidation of isononyl aldehyde. The acid is a mixture of isomers with 3, 5, 5-trimethyl hexanoic acid with weight percentage of about 90. Isononanoic acid is a clear, colorless liquid with faint odor. It is miscible with organic solvents. Isononanoic acid is sparingly soluble in water. The ECHA (European Chemicals Agency) classifies isononanoic acid as a dangerous material in CPA classifications, as it causes severe eye damage upon exposure and skin irritation if swallowed.

·         Isononanoic acid is primarily applied as a plasticizer in cosmetics and personal care products. It is used as a skin conditioning agent, cleansing agent, and emulsifying agent in surfactant formulations. It is also used as an herbicide to prevent growth of weeds, both indoors and outdoors, and as a blossom thinner for apple and pear trees. The Food & Drug Administration (FDA) has approved the usage of isononanoic acid as a food additive and has added it to the list of synthetic flavoring. Thus, it can now be added directly to food.

Key Drivers and Restraints of Global Isononanoic Acid Market

 

·         The market for Isononanoic Acid is primarily driving by rise in demand for the acid in the personal care & cosmetics industry. Rapid urbanization coupled with increasing disposable income is expected to drive the personal care & cosmetic products industry, thus driving the demand for isononanoic acid, as it is used as plasticizing agent.

·         Rise in demand for isononanoic acid in lubricants, metal soaps, corrosion inhibitors, and others is also driving the market. Isononanoic acid is also used on a large scale in cleaning & furnishing agents. This is further expected to propel the market during the forecast period. However, the recent outbreak of COVID-19 has severely impacted the demand for isononanoic acid. This is expected to restrain the market in the short term.

 

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Isononanoic Acid: Application Segment

 

·         Based on application, the isononanoic acid market can be segmented into cosmetics & personal care, food additives, and bio-pesticides

·         The cosmetics & personal care segment held the leading share in 2020, due to extensive usage of isononanoic acid in household and industrial detergents, soaps, face washes, spray washes, hypochlorite detergents/sanitizers, and dish wash liquids. However, toxicity of isononanoic acid and regulations imposed by ECHA are hampering the segment.

Covid-19 Impact on Isononanoic Acid Market

 

·         On January 30, 2020, the International Health Regulations Emergency Committee of the World Health Organization (WHO) declared the Coronavirus disease (COVID-19) outbreak a public health emergency of international concern. Originating in China, the virus has spread to at least 213 countries and territories around the world.

·         Shortage in supply of raw materials from various manufacturers around the globe has resulted in a severe demand-supply gap. Manufacturers are further expected to be stranded on raw material orders owing to the logistics industry being significantly impacted due to the lockdown amid COVID-19.

·         The shutdown in various countries across the globe has prohibited import of various products including isononanoic acid. This has adversely impacted end-use industries.

 

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Asia Pacific to Dominate Isononanoic Acid Market

 

·         Based on region, the global isononanoic acid market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa

·         In terms of consumption, Asia Pacific held major share of the global isononanoic acid market in 2020. This trend is likely to continue during the forecast period. The market in Asia Pacific is projected to register significant growth rate during the forecast period. Rise in consumption of cosmetics and personal care products and increase in preference for beauty products by people, especially in South Korea, Japan, and China, are major factors anticipated to fuel the demand for isononanoic acid in Asia Pacific in the next few years.

·         China and India are expected to hold major share of the isononanoic acid market in Asia Pacific during the forecast period. Europe and North America are anticipated to follow Asia Pacific between 2021 and 2031. The market in other regions such as Latin America and Middle East & Africa is anticipated to witness sluggish growth during the forecast period.

Key Manufacturers Operating in Global Isononanoic Acid Market

The global isononanoic acid market was consolidated in 2020. Major players have prominent presence in developed and developing countries. Key manufacturers operating in the global isononanoic acid market include:

·         Nease Co, LLC,

·         OXEA Chemicals,

·         KH NeoChem,

·         BOC Sciences,

·         FiniPharma Limited,

·         BASF

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