Isononanoic Acid Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2026
- Transparency Market Research
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 only 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 if exposed and causes 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 a 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. With this, it can now be added directly to food.
Isononanoic Acid Market: Overview
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 market share in 2017, 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. Oxea, a Germany-based manufacturer of isononanoic acid, announced on April 1, 2018 that prices of isononanoic acid in Europe are likely to increase by US$ 182.2 per ton (EUR 150 per ton) and will be followed by the end of the month.
Isononanoic Acid Market: Region-wise Outlook
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 a major share of the global isononanoic acid market in 2017 and the trend is likely to continue during the forecast period also. The market in Asia Pacific is projected to register a significant growth rate during the forecast period. Rise in consumption of cosmetics and personal care products and rising 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 a major share of the Asia Pacific market for isononanoic acid during the forecast period. Europe and North America are anticipated to follow Asia Pacific between 2018 and 2026. The market in other regions such as Latin America and Middle East & Africa is anticipated to witness sluggish growth during the forecast period.
Isononanoic Acid Market: Key Players
A large number of companies operate in the global isononanoic acid market. Several regional and local traders, distributors, and importers supply isononanoic acid to end-users. Prominent companies operating in the global isononanoic acid market are Nease Co, LLC, OXEA Chemicals, KH NeoChem, BOC Sciences, FiniPharma Limited, and BASF.
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