Heptanoic Acid Market Poised to Garner Maximum Revenues During 2018 – 2028 | Future Market Insights
Enanthic acid or heptanoic acid, is primarily an organic compound which is composed of a seven-carbon chain terminating in a carboxyl acid. Heptanoic acid is utilized in the form of esters for industrial lubricants owing to its unique performance at both low and high temperature levels (aviation, automobile, refrigeration lubricants, etc.) and its good corrosion properties. Moreover, it is used in flavors and fragrance industry as well as in cosmetics.
Heptanoic acid is a colorless liquid with a pungent odor, and is less dense than water and poorly soluble in water. Heptanoic acid find its two major uses i.e. vinyl plasticizers that are used in automotive industry and other is synthetic lubricants where it is used in polyol esters.
Heptanoic acid is utilized as an organic building block for the synthesis of a variety of chemical compounds. It is involved primarily in the esterification of steroids and used in the preparation of pharmaceutical ingredients such as testosterone enanthate, drostanolone enanthate, and methenolone enanthate. Moreover, it is utilized as an internal standard during the gas chromatography analysis of volatile acids.
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Global Heptanoic Acid Market: Segmentation
Globally, the heptanoic acid market can be segmented on the basis of grades, application and end-use industry
Based on the grades, the global heptanoic acid market can be segmented into
- Pharmaceutical grade
- Food grade
- Other grade
Based on the application, the global heptanoic acid market can be segmented into
- Flavours & Fragrance
- Corrosion Inhibition
Based on the end-use industry, the global heptanoic acid market can be segmented into
- Food & Beverages
Global Heptanoic Acid Market: Dynamics
Over the recent past, utilization of heptanoic acid in metalworking fluids has grown significantly, amount of acid utilized in these products is small; therefore a dramatic change from the traditional oil based fluids would be required before there would be significant market impact. Thus, with the increase in demand for metalworking fluids, consumption of heptanoic acid is also expected to rise which in turn driving the global heptanoic acid market. Moreover, increasing local and foreign direct investments in the automotive sector are pushing the demand of lubricants which in turn is expected to boost the consumption of heptanoic acid
On the other hand, stringent environmental regulations associated with the use of lubricants is one of the key factor expected to restrain the demand of heptanoic acid. Further, regulations listed by environmental agencies pertaining to the utilization of various lubricants are lessening the consumption of heptanoic acid over the forecast period
Development of low cost and simple processes to convert the bio-degradable materials into high value carboxylic acids such as heptanoic acid, caproic acid, caprylic acid etc. is one of the key trends identified in the global heptanoic acid market across the globe. Various types of feedstock are utilized which include orange peels, food waste, palm oil mill effluent, corn ethanol stillage, crop waste etc.
Global Heptanoic Acid Market: Regional Outlook
Considering regions, the global heptanoic acid market is anticipated to be dominated by Asia Pacific region. Owing to the positive outlook of end-use industries supported by rising population, urbanization in the developing countries such as China and India. Asia-Pacific is anticipated to be followed by North America and Europe in the global heptanoic acid market over the forecast period. Latin America and Middle East & Africa are expected to account for small share in the global heptanoic acid market, due to the sluggish demand from end-users across the Brazil, Argentina, Turkey, etc.
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Global Heptanoic Acid Market: Market Participants
Examples of some of the market participants involved in the global Heptanoic Acid market include Arkema, Merck KGaA, Tokyo Chemical Industry Co., Ltd., ACME SYNTHETIC CHEMICALS, The global heptanoic acid market is expected to be one of the most consolidated in nature owing to the presence of large number of producers (both local as well as global) in the market.