Erucamide Market Size, Share, Growth & Industry Trends [2031]

Report Description

Market Outlook:

The Global Erucamide Market was estimated at USD 335.2 Million in 2021 and is anticipated to reach USD 462.0 Million by 2031, expanding at a CAGR of 3.4% during the forecast period.

Erucamide is a primary long-chain fatty acid amide synthesized from the formal condensation of the carboxy group of erucic acid with ammonia.

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Erucamide is used: For lubrication and as a slip agent to decrease friction in the polymer and plastic industry, as a dispersing agent in printing and dying, In the paper and textile industry for water-proofing as well as a corrosion inhibitor in oil wells, As an ore floating agent, fabric softener, anti-static agent, germicide, insecticide, emulsifier, anti-caking agent, lubricant and water treatment agent.

Macro-economic Factors

Rising GDPs of Emerging Economies

An emerging market economy refers to a country that is in the process of development. Countries such as Brazil, Russia, India, China (BRIC), and other countries in Latin America & Southeast Asia are key developing economies. The economic growth of emerging countries is typically growing by 6% to 7% annually, whereas countries with an already well-established economy report growth rate below 3%. Therefore, the GDP growth rates for emerging market economies are outperforming those of developed countries. In 2017, the total contribution of the chemical industry to global GDP was USD 5.7 trillion, equivalent to 7% of the global GDP in the same year. Thus, the rising GDP of emerging economies plays a crucial role in the expansion of the market.

R&D Activities

Research and development (R&D) are crucial factors for economic growth, as they promote invention, innovation, and advancement. In 2017, China had the highest R&D spending in the chemical industry, investing around USD 14.6 billion, while the US ranked second, spending approximately USD 12 billion. In 2019, the US-led R&D performance globally with 28% of the global R&D total, followed by China with 22%.  Increasing investments from key market players for R&D activities and a rising focus on product innovations are creating opportunities for chemical companies across the globe.

Market Dynamics

Market Driver- Increasing Use in Food & Beverage Industry

Polymers (Erucamide) are extensively used in food and beverage packaging to shield against contaminants and external damage. The packaging area is the fastest-developing vertical of the food industry. Erucamide has barrier properties that help protect the goods inside the pack and prevent the loss of aroma and flavor. Advancements in the food packaging industry, such as edible packaging, smart packaging, anti-microbial packaging, self-cooling and self-heating packaging, and micro packaging are expected to increase the usage of erucamide. The use of edible polymers or biopolymers for food packaging is increasing due to the growing focus on reducing waste. Increasing the use of erucamide in the food & beverage industry is expected to drive the market in coming years, as it is an essential material for food safety and the extension of food shelf-life, which are the key goals of the food industry.

Market Driver- Growing Demand & Usage in Other End-Use Industries

In the marine industry, erucamide is used extensively as an anti-fouling agent, as it prevents biofouling induced by bacteria and algae. It is applied on a ship’s hull (main body). Anti-fouling is a surface treatment used to prevent the accumulation of unwanted organisms such as barnacles on ships. Marine biofouling of ship hulls causes enormous economic losses. Thus, efforts have been taken worldwide to eliminate biofouling. Erucamide is applied as an anti-fogging agent in food packaging and in various agricultural applications such as greenhouse covers. Erucamide prevents the formation of water droplets on the surface of films. Thus, the rising usage of erucamide in various end-use industries, such as marine and agriculture, is expected to propel the market during the forecast period.

Market Restraint- Stringent Regulations on the Use of Plastics

Stringent regulations on the use of plastic packaging are imposed in many regions such as North America, Europe, and the Asia Pacific, as plastic is a major source of pollution. Around 127 countries have plastic bag legislation, of which 91 countries have some type of ban or restriction on the production, importation, and retail distribution of plastic bags. Plastic packaging is mostly single-use, especially in business-to-consumer applications, and a majority of it is discarded the same year it is produced. In 2021, plastic packaging generated about 139 million metric tons of waste globally. Asia Pacific was the largest generator of plastic packaging waste followed by the US and European Union. In California, a bill was passed where plastic producers were asked to reduce plastic in single-use products by 10% by 2027 and increase to 25% by 2032. Thus, strict regulation by many countries on plastic is expected to restrain the market during the forecast period.

Market Opportunity- Technological Advancements

Slip additives are compounds added to polymers to control friction. It is widely used in polymer film and plastic packaging. Manufacturers are rapidly involved in developing bio-based polymer additives due to their growing customer base worldwide. In Ink & coating industry bio-based additives are used extensively to enhance and protect the appearance and durability of products. Bio-based additives control the processability of products making them easy to use in a variety of applications. Rising developments in bio-based slip additives are expected to create growth opportunities during the forecast period.

Scope of the Report  

The report on the global erucamide market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Segmental Outlook

Based on product form, the erucamide market is segmented into beads, powder, and others. The beads segment is expected to grow at a rapid pace during the forecast period, as beads have good stability at high temperatures and provide effective slip properties. The powder segment is predictable to expand at a significant CAGR of XX% during the forecast period. The powder form erucamide have good flowing property, a high melting point, and heat stability.

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Based on the purity type, the global erucamide market is segmented into high-purity erucamide and general erucamide. The high-purity erucamide segment is anticipated to boost at a significant rate during the forecast period, as it is widely preferred by the plastic industry and other industries. A quality or condition of being pure and free from contaminants and pollutants is considered high purity. High-purity erucamide ranges between 98% to 99.9%.

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Based on the function, the global erucamide market is segmented into lubricants, anti-block agents, slip agents, anti-sticking agents, and others. The slip agent segment is expected to hold a significant share of the market during the forecast period, as they are widely used in the manufacture of polyolefin films. The anti-block agent segment is projected to expand at a significant CAGR during the forecast period, as they help to minimize the film-to-film surface contact.

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Based on End-user, the global erucamide market is segmented into the plastic manufacturing industry, Pharmaceutical Industry, the ink and paint industry, the rubber industry, and other industries. The plastic manufacturing industry segment is projected to expand at a significant pace, as erucamide enhances plastic manufacturing and makes them last long. The other industry segment is expected to hold a substantial share of the market during the forecast period. Other industries include paper, textiles, and machinery.

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Regional Outlook

On the basis of regions, the global erucamide market is segmented into North America, Europe, APAC, Latin America, and the Middle East and Africa. The market in North America is projected to expand at a significant CAGR during the forecast period. North America is estimated to maintain its dominance in the market during the forecast period, due to increasing demand for erucamide from major sectors such as the plastic and paint industry.

The market in Asia Pacific is expected to grow at a significant pace and is projected to maintain its dominance in the market during the forecast period. The growth is anticipated due to growing erucamide production in countries such as China and India.

The market in Europe is projected to expand at a substantial CAGR, due to the increasing usage of erucamide in the food & beverage industry in the region. Latin America and the Middle East & Africa (MEA) are anticipated to hold a considerable share of the global Erucamide market.

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Key Benefits for Industry Participants & Stakeholders

• In-depth Analysis of the Global Erucamide Market

• Historical, Current, and Projected Market Size in terms of Value

• Potential & Niche Segments and Regions Exhibiting Promising Growth Covered

• Industry Drivers, Restraints, and Opportunities Covered in the Study

• Recent Industry Trends and Developments

• Competitive Landscape & Strategies of Key Players

• Neutral Perspective on Global Erucamide market performance