Global Azelaic Acid Market Forecast: Key Players and Emerging Opportunities

Azelaic Acid Market Revenue to Hit USD 422.21 Bn by 2032; North America dominates with 38.7%

PORTLAND, OR, UNITED STATES, December 16, 2024 /EINPresswire.com/ -- According to Allied Marker Research, The azelaic acid market size is projected to grow from USD 218.29 million in 2022 to USD 422.21 million by 2032, at a CAGR of 7.0%. Azelaic acid, a naturally occurring acid with anti-inflammatory and antimicrobial properties, is one such example. This acid has been used in treating skin conditions such as rosacea and acne due to its comedolytic, keratolytic, and antioxidant effects commonly found in hair care products.

Azelaic acid is an organic compound with the molecular structure C9H16O4 saturated dicarboxylic acid, which is a powder. This compound has biological activities and can be found in food products like barley, wheat, and rye; it inhibits enzymes involved in respiratory chain respiration as well as DNA synthesis. Produced from oleic and ozone when exposed to oxygen acting as a catalyst, Azelaic Acid has remarkable biological effects.

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Key Takeaway:

By Product Type, in 2022, the azelaic acid market was dominated by the pharma-grade segment, with a revenue share of 49.6%.
By Application, the plastic segment administrated the demand with a revenue portion of more than 38.6% % in 2022.
In 2022, North America dominated the market with the highest revenue share of over 38.7%.
Factors affecting the growth of the azelaic acid industry.

Several factors can have an impact on the growth of the azelaic acid industry. Some of these factors include:
Azelaic acid's curative properties will be a driving factor in the cosmetic industry's growth.
Azelaic acid will become an increasingly important ingredient in personal care products due to rising disposable income and improved lifestyles.
This market will expand across various industrial segments such as plastics, electronics, pharmaceuticals, and petrochemicals; however, growth may be hindered due to fluctuating raw material prices or side effects from continued usage.
Azelaic acid can also be used in soft drinks as an aroma compound. In addition, barley's azelaic acid is precious, serving as a wine preparation cleanser.
These factors make azelaic acids highly sought-after ingredients in personal care products and the food industry - with forecasts for strong growth in this market over the coming years.
Market Restraints

Due to the abundance of di-carboxylic acids such as sebacic, the market potential for azelaic acid may be limited. Sebacic acid is produced from castor oil by heating it with caustic soda to form ricinoleic acid and then purifying it to produce sebacic.

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Market Growth

The target market has experienced an exponential rise in demand for polymers globally. As a result, azelaic acid, a key building block in polyamides and polyesters, has become increasingly important. Azelaic acid can also be utilized in high-performance copolyesters, which are popular in industrial adhesives, films, and polymeric plasticizers. Forecasts indicate that azelaic acids will experience increased demand due to increased polymer demand over the forecast period. In addition, azelaic acid is expected to experience growth in the market due to increasing demand for lubricants. These acids, which come from bio-based feedstocks, have become widely used as sources of lubricants.

Bio-lubricants are becoming more widely used, increasing demand for azelaic acids. Petroleum-based oil was once the go-to lubricant, but it had poor biodegradability. Additionally, petroleum-based lubricants can pose environmental issues by building up and damaging aquatic life. Therefore, bio-lubricants will remain in demand due to increasing awareness of eco-friendly lubricant options. Over the forecast period, the global azelaic acids market size will expand due to rising demand for environmentally friendly alternatives to petroleum-based lubricants. According to the Department of Ecology Washington (USA), lubricants are safer than their petroleum-based counterparts due to higher flashpoints, constant viscosity, and less oil mist or other vapour emissions.

Regional Analysis

Based on the regional outlook, North America accounted for 38.7% of azelaic acid consumption by revenue. Europe followed closely behind in terms of revenue at approximately 20%. Due to the variety of applications provided by end-use industries, North America and Europe provide ample opportunities for key players in the azelaic acids market, such as those from the U.S.A., Germany, France, and other regions. Over the next decade, there will be numerous mergers and acquisitions among core players in these regions. Asia Pacific - particularly India and China - offers exciting investment opportunities. India's economy is expected to experience a substantial compound annual growth rate over this timeframe while China follows behind. Middle East & Africa experience slower market expansion than Latin America.

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Market Drivers

Azelaic acid's curative properties will be a driving factor in the cosmetic industry's growth. More personal care products are being created with this ingredient thanks to rising disposable income and lifestyle changes. This market will expand across various industrial segments such as plastics, electronics, pharmaceuticals, and petrochemicals; however, growth may be restricted due to fluctuating raw material prices or side effects from continued usage.

Azelaic acid has also found used as an aroma compound in soft drinks. Barley's azelaic acid is particularly valuable because it is a cleanser during winemaking, making it an invaluable ingredient for personal care products and food industries. Forecasts predict strong growth for this market over the coming years.

David Correa
Allied Market Research
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