Erucamide Market to gain $257.3 million by 2021

Erucamide Market to gain $257.3 million by 2021
Erucamide Market
Erucamide Market

According to the report, the global erucamide market was valued at approximately USD 213.6 Million in 2014 and is expected to reach approximately USD 257.3 million by 2020, growing at a CAGR of around 3.2% between 2015 and 2020. In terms of volume, global erucamide market stood at 421.2 Kilo Tons in 2014. Zion Market Research has published a new report titled “Erucamide Market for Food Packaging, Paper and Textile Industry, Surfactants, Printing & Dying and Other applications: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2014 – 2020”

Erucamide is anitrogen derivatives of erucic acid. It is derived from non-animal sources and more thermally stable than oleamide. Adding 0.05% to 0.2% of erucamide can decrease friction from 4.55 to 1.11 among polypropylene films. It has stability at high temperature and high melting point. Erucamide is perfectly suited for most high-quality food packaging applications owing to its excellent properties like chemical stability and low volatility.

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The most important application of erucamide is as anti-sticking lubricant, release and antistatic agent of polypropylene (PP) and polyethylene (PE). It is also widely utilized as a dispersing agent and to improve lubrication in the manufacturing of printing inks. Furthermore, it is used for making high-speed printing inks, typing ribbons, magnetic inks, metal decorating and carbon paper. Erucamide finds extensive application in dye dispersants, high-grade lube-oil, anti-fog and waterproof agent for paper making and textile industries, metal-wire drawing lubricant agent and foam-stabilizer among others. Erucamide is also employed in the manufacture of as antiseptics of sulfonate detergents and foam stabilizers.

The erucamide market is primarily driven by strong demand for food packaging and increasing usage of erucamide in plastic films and sheets. However, stringent regulations on the usage of erucamide owing to its toxic effects on health are expected to hamper the market growth during the forecast period. Nonetheless, technological advancement in the slip additives is expected to open up new opportunities for the erucamide market in the near future.

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Key application areas for erucamide includes food packaging, paper and textile industry, surfactants, printing & dying and others (emulsifier, lubricants etc.). Food packaging segment dominated the erucamide market in 2014, which accounted for 67.3% share of the global market. Food packaging market is primarily driven by the changing consumer preference towards specialty & processed food, advancement in food packaging material and rising consumer awareness in developing economies. The surfactant is another key outlet of erucamide market and expected to witness significant growth within the forecast period.

Geographically, the erucamide market has been segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.  Asia Pacific was the largest consumer of erucamide and expected to be the market leader during the forecasted period. This is mainly due to increasing demand for erucamide in food packaging and plastic films and sheets this region. Europe was the second largest regional segment of erucamide market and it accounted for over 26.3% of total volume consumption in 2014. Strong demand for erucamide in food packaging market from Germany, UK, and other European countries is expected to boost market growth in this region over the forecast period.

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Key players in the erucamide market include BASF SE, PMC Group, Nanjing Xinxu Industry Co., Ltd., ICC Chemical Corporation, Angene International Limited and Haihang Industry Co., Ltd.