CAGR of 7.5% Envisions Market Size of $392 Billion by 2033
The Brainy Insights
The azelaic acid market is competitive, with key players constantly innovating to offer advanced products tailored to specific industry needs. Some prominent companies in the market include BASF SE, Croda International plc, Emery Oleochemicals, Haihang Industry Co, Jiangsu Senxuan Pharmaceutical and Chemical Co Ltd, Matrica S.p.A, Nantong Hengxing Electronic Materials Co Ltd, Nantong Jinghua Pharmaceutical Co Ltd, Wufeng Chicheng Biotech Co Ltd, Xi’an Sonwu Biotech Co Ltd
Newark, April 30, 2024 (GLOBE NEWSWIRE) — The Brainy Insights estimates that the USD 190 Billion Azelaic Acid market will reach USD 392 Billion by 2033. Increasing use from the pharmaceuticals industry, rapidly growing strategic initiatives from private players may fuel the growth of the Azelaic Acid Market. Ongoing advancements in pharmaceutical research are showing promising outcomes, especially regarding the utilization of azelaic acid for diverse dermatological conditions. Azelaic acid has demonstrated effectiveness in tackling issues such as acne and hyperpigmentation, including challenging conditions like melasma and rosacea. With the increasing demand for safer and more natural skincare remedies, the integration of azelaic acid as a key ingredient is gaining wider recognition.
The Full Study is Readily Available | Download the Sample Pages of this Report @
Data provided by the National Eczema Association highlights that over 31 million Americans grapple with eczema or atopic dermatitis. Recent clinical trials have emphasized azelaic acid’s potential as a therapeutic option, whether utilized independently or alongside other treatments, for managing eczema. Its notable anti-inflammatory and antimicrobial properties position it as a promising contender for addressing such dermatological concerns.
Scope of Biocontrol Agents Market
|
Report Coverage |
Details |
|
CAGR |
7.5% from 2024 to 2033 |
|
Market Size in 2023 |
USD 190 billion |
|
Market Size by 2033 |
USD 392 billion |
|
Largest Market |
North America |
|
Base Year |
2023 |
|
Forecast Year |
2024 to 2033 |
|
Historical Year |
2020-2022 |
|
Segments Covered |
by Type, Regions |
|
Regions Covered |
North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Azelaic Acid Market Size by Type (Polymer Grade, Pharma Grade, Technical Grade), Application (Pharmaceutical, Adhesives, Plastics, Lubricants, Personal Care &Cosmetics, Others), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2024 to 2033
Story continues
North America emerged as the largest global Azelaic Acid market, accounting for 40% of the total market. Owing to the presence of the largest competitors in the region coupled with the evolving and ever-increasing cosmetics industry and increasing use of tanning agents in the region. Whereas, Europe is expected to be the fastest-growing in the region owing to loads of mergers and acquisitions and collaborations.
The pharma-grade segment emerged as the dominant force in the market, commanding a substantial revenue share of 54%
The pharma-grade segment emerged as the dominant force in the market, commanding a substantial revenue share of 54%. This dominance is attributed to its high purity and extensive applications across cosmetics, pharmaceuticals, and personal care segments. Within the pharmaceutical sector, azelaic acid finds application in ointments for treating conditions like rosacea and acne. Moreover, it serves as a bleaching or whitening active compound in skincare products. Over the forecast period, azelaic acid is anticipated to witness continued robust demand, driven by the growing need for skincare products
Plastics is the dominant segment in the market, comprising of 45% of the market share in the global market.
Plastics is the dominant segment in the market, comprising of 45% of the market share in the global market. Owing to increasing skincare products and rapidly growing dermatological procedures in the market. Whereas, the Pharmaceutical segment is expected to be the fastest-growing in the region, owing to increase in the treatment of various skin care problems: rosacea and acne.
Latest Development:
• Hubei TuoChu Kangyuan Pharmaceutical Co., Ltd. declared in June 2023 that it had secured a patent for a novel technique to manufacture azelaic acid from renewable resources. This innovative process is anticipated to offer enhanced environmental sustainability and cost efficiency compared to conventional methods of azelaic acid production.
• Similarly, in March 2023, Emery Oleochemicals unveiled plans for the expansion of its azelaic acid production capacity at its Cincinnati, Ohio plant. Scheduled for completion in 2024, this expansion endeavor aims to double the company’s existing production capacity for azelaic acid.
Personalized your customization here:
Market Dynamics
Drivers: Increasing use of Azelaic Acid as a tanning agent
The use of azelaic acid as a tanning agent has seen a steady rise in recent years, significantly driving the growth of the azelaic acid market. As a naturally occurring dicarboxylic acid found in wheat, rye, and barley, azelaic acid triggers a melanin-based tanning effect when applied topically on the skin.
The escalating demand for natural sunless tanning alternatives is leading more consumers to prefer products containing azelaic acid over traditional self-tanning or UV ultraviolet methods. Research conducted by the Canadian Dermatology Association in 2022 revealed that over 50% of Canadians who used tanning products in the past year opted for sunless tanners to achieve a safer, natural-looking tan. This increasing preference for natural alternatives is positively influencing the azelaic acid market. Moreover, the compound is considered safe for sensitive skin types and does not produce the orange or green hues associated with some other self-tanner active ingredients.
Restraint: Rising innovations from new formulations in the market
Tremendous involvement of operation cost to cure the tumor is one major restraint that may hamper the growth of the Solid Tumor Therapeutics Market. With higher prices involved with curing tumor cells, patients get limited access to high-quality treatment for cancer.
Opportunity: Rising government initiatives towards cancer cases
Ongoing advancements in pharmaceutical research are showing promising outcomes, especially regarding the utilization of azelaic acid for diverse dermatological conditions. Azelaic acid has demonstrated effectiveness in tackling issues such as acne and hyperpigmentation, including challenging conditions like melasma and rosacea. With the increasing demand for safer and more natural skincare remedies, the integration of azelaic acid as a key ingredient is gaining wider recognition.
Data provided by the National Eczema Association highlights that over 31 million Americans grapple with eczema or atopic dermatitis. Recent clinical trials have emphasized azelaic acid’s potential as a therapeutic option, whether utilized independently or alongside other treatments, for managing eczema. Its notable anti-inflammatory and antimicrobial properties position it as a promising contender for addressing such dermatological concerns.
Challenge: Increasing competition from market players
With more players entering the market, there’s a risk of oversupply and market saturation. This can result in heightened competition for customers and limited growth opportunities for existing companies, particularly those without distinct value propositions. Which in turn poses a major challenge onto the growth of Azelaic Acid Market.
You can place an order or ask any questions, please feel free to contact at sales@thebrainyinsights.com | +1-315-215-1633
Some of the major players operating in the Azelaic Acid market are:
• BASF SE
• Croda International plc
• Emery Oleochemicals
• Haihang Industry Co
• Jiangsu Senxuan Pharmaceutical and Chemical Co Ltd
• Matrica S.p.A
• Nantong Hengxing Electronic Materials Co Ltd
• Nantong Jinghua Pharmaceutical Co Ltd
• Wufeng Chicheng Biotech Co Ltd
• Xi’an Sonwu Biotech Co Ltd
Key Segments cover in the market:
By Type:
• Polymer Grade
• Pharma Grade
• Technical Grade
By Application:
• Pharmaceutical
• Adhesives
• Plastics
• Lubricants
• Personal Care &Cosmetics
• Others
Immediate Delivery Available | Buy This Premium Research Report @
About the report:
The global Azelaic Acid market is analysed based on value (USD Billion). All the segments have been analysed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes Porter’s five forces model, attractiveness analysis, raw material analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company that provides actionable insights through data analytics to companies to improve their business acumen. They have a robust forecasting and estimation model to meet the client’s objectives of high-quality output within a short period. They provide both customized (client-specific) and syndicate reports. Their repository of syndicate reports is diverse across all the categories and sub-categories across domains. Their customized solutions meet the client’s requirements whether they are looking to expand or planning to launch a new product in the global market.
Contact Us
Avinash D
Head of Business Development
Phone: +1-315-215-1633
Email: sales@thebrainyinsights.com
Web:
