Pelargonic Acid Market to Grow with a CAGR of 5.12% through 2028
Rising preference for bio-based herbicides is expected
to drive the Global Pelargonic Acid Market growth in the forecast period,
2024-2028.
According to TechSci Research report, “Pelargonic
Acid Market – Global Industry Size, Share, Trends, Competition Forecast
& Opportunities, 2028”, the Global Pelargonic Acid Market stood at USD
121.77 Million in 2022 and is anticipated to grow with a CAGR of 3.31% in the
forecast period, 2024-2028. pelargonic acid is a versatile organic compound
with a wide range of applications across various industries. The agriculture sector is one of the primary drivers
behind the robust growth of the global pelargonic acid market. Pelargonic acid
is widely used as an herbicide and weed control agent in agriculture. Its
effectiveness in eradicating unwanted weeds and plants without leaving harmful
residues in the soil or harming crops has made it a preferred choice for
farmers. With the increasing global population and the need to enhance
agricultural productivity, the demand for pelargonic acid-based herbicides has surged.
One of the prominent trends in modern agriculture is the shift towards
sustainable and environmentally friendly practices. Pelargonic acid aligns
perfectly with this trend due to its biodegradability and lower environmental
impact compared to many synthetic herbicides. As environmental concerns grow
and regulations become more stringent, the demand for eco-friendly herbicides
like pelargonic acid continues to rise.
In line with the growing awareness of environmental
sustainability, there is an increasing demand for bio-based herbicides.
Pelargonic acid, being derived from natural sources such as pelargonium plants,
fits the bill perfectly. It can be used in the formulation of bio-based
herbicides, meeting the demand for organic and natural alternatives to chemical
herbicides. The industrial sector is another significant driver of the
pelargonic acid market. Pelargonic acid is utilized in various industrial
processes, including its use as a corrosion inhibitor, solvent, and
plasticizer. Industries rely on this versatile compound for its ability to
enhance production processes, maintain equipment, and meet specific chemical
requirements.
The chemical industry plays a crucial role in the
demand for pelargonic acid. It is used as a precursor in the production of
various chemicals, including esters. Esters synthesized from pelargonic acid
are essential ingredients in the formulation of fragrances, flavors, and other
specialty chemicals. The diverse range of applications in the chemical industry
contributes significantly to the demand for pelargonic acid.
Browse over XX market data Figures spread
through XX Pages and an in-depth TOC on "Global Pelargonic
Acid Market.”
Advancements in formulation technologies have enabled
the development of more effective and safer products containing pelargonic
acid. Manufacturers are continuously innovating to create herbicide
formulations that maximize pelargonic acid's weed control properties while
minimizing any potential harm to desirable plants and the environment. These
innovations are driving market growth by expanding the range of applications
for pelargonic acid.
The Global Pelargonic Acid Market is segmented into Grade,
Application, Regional Distribution, And Company.
Based on the Grade, Synthetic Grade
emerged as the dominant segment in the global market for Global Pelargonic Acid
Market in 2022. Synthetic Grade pelargonic acid is produced through chemical
synthesis, which allows for precise control over its chemical composition and
purity. This consistency is vital for many industrial applications where the
exact composition of the compound is crucial. Synthetic production methods
ensure a steady and reliable supply of pelargonic acid, making it readily
available in the quantities required by various industries. This scalability is
essential to meet the high demand for pelargonic acid in applications such as
herbicides and detergents. Manufacturers can implement stringent quality
control measures during the synthesis of Synthetic Grade pelargonic acid,
ensuring that it meets industry standards and regulatory requirements. This
level of control over the production process reduces the risk of impurities and
inconsistencies that can arise in natural-grade products.
Based on the Application, the Herbicides segment
emerged as the dominant player in the global market for Global Pelargonic Acid
Market in 2022. Pelargonic acid
is widely recognized for its effectiveness as an herbicide in agriculture. It
is a valuable tool for farmers seeking to control unwanted weeds and vegetation
in crop fields. With the global demand for food production continuously
increasing to feed a growing population, the need for efficient weed control
solutions like pelargonic acid is on the rise. Pelargonic acid demonstrates effectiveness against a
wide range of weed species, making it versatile in various agricultural
settings. It can control both broadleaf and grassy weeds, contributing to its
popularity among farmers who face diverse weed challenges. Pelargonic acid's
ability to break down rapidly in the environment means it leaves minimal
chemical residues in the soil. This feature aligns with consumer preferences
for food products with reduced chemical residues, which has increased its
adoption in agriculture.
Asia-pacific emerged as the dominant player in the
global Pelargonic Acid Market in 2022, holding the largest market share. The
Asia-Pacific region encompasses some of the world's most populous and
agriculturally productive countries, such as China and India. As these
countries experience increasing urbanization and a growing middle class, there
is a rising demand for food products. This drives agricultural expansion and,
in turn, the need for effective weed control solutions like pelargonic acid. To meet the demands of a growing population, there's a
continuous push for higher crop yields in the Asia-Pacific region. Pelargonic
acid helps in achieving this by effectively controlling weeds that would
otherwise compete with crops for essential resources like nutrients and
sunlight. Asia-Pacific is home to several chemical manufacturing hubs with
advanced capabilities. This enables the production of pelargonic acid at a
competitive cost, making it more accessible to farmers and industries in the
region.
Major companies operating in Global Pelargonic
Acid Market are:
- Central Drug House
- Croda International Plc.
- Emery Oleochemicals
- Glentham Life Sciences Limited
- Haihang Industry
- Kunshan Odowell Co Ltd
- Matrica S.p.A
- OQ Chemicals GmbH
- Tokyo Chemical Industry Co., Ltd
- Zhengzhou Yibang Industry & Commerce Co., Ltd
Download
Free Sample Report
Customers can also request for 10%
free customization on this report.
“The global
pelargonic acid market is poised for significant growth in the coming years. The
increasing global population and the need for enhanced food production are
driving the demand for efficient and sustainable agricultural practices
including Pelargonic Acid. The rise of organic farming and the consumer
preference for organic produce are propelling the adoption of pelargonic
acid-based herbicides. Its biodegradable and eco-friendly attributes align
perfectly with the principles of organic agriculture. Moreover, the growing
awareness of chemical safety and environmental impact is fueling the shift
towards safer and greener herbicides. Pelargonic acid, with its low toxicity
and reduced environmental harm, is well-positioned to capitalize on this trend.”
said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based management consulting firm.
“Pelargonic Acid Market - Global Industry Size,
Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Grade (Natural
Grade, Synthetic Grade), By Application (Detergents, Lubricants, Lacquer &
Coatings, Herbicide, Food Additives, Others (Personal Care & Cosmetics,
etc.)) By Region and Competition”, has evaluated the future growth potential of Global
Pelargonic Acid Market and provides statistics & information on market
size, structure and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in Global Pelargonic
Acid Market.
Contact
Mr. Ken Mathews
Techsci Research LLC
420 Lexington Avenue, Suite 300,
New York, United States- 10170
Tel: +1-332-258-6602
Email: [email protected]
Website: www.techsciresearch.com