Azulene Market Size & Share, by Application (Moisturizer, Skin Conditioning Agent, Antiseptic, Anti-inflammatory, Liquid Crystals, Polymeric Conductors, Electro-chromic Materials); End-User (Pharmaceutical, Cosmetics and Personal Care, Electronics); Form (Solid, Liquid) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 5893
  • Published Date: Mar 19, 2024
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024- 2036

Azulene Market size is poised to reach USD 1 Billion by the end of 2036, growing at a CAGR of 4% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of azulene was USD 360 Million. The reason behind the growth is due to the growing chemical industry across the globe. The chemical industry worldwide has seen significant expansion in several areas since chemical producers are making significant global investments in research and development (R&D). For instance, the global chemical industry generated over USD 5 trillion in revenue in 2022.

The growing consumption of naphthalene is believed to fuel the azulene market growth. Azulene is an isomer of naphthalene, which is an aromatic chemical molecule that is produced from coal tar or crude oil often used in the manufacture of mothballs, repellents, and deodorizers. For instance, the average annual growth rate of the world's naphthalene consumption is predicted to be around 2% between 2020 and 25.


Azulene Market
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Azulene Market: Growth Drivers and Challenges

Growth Drivers

  • Rising Need for Organic Materials – Advanced materials with an aromatic nature, such as azulene, have shown considerable promise in the development of improved organic materials, which are employed in many sectors of human society, including food.
  • Growing Production of Electronics- Azulene, a non-alternant aromatic calixarene made up of four azulene chromophores, is frequently utilized in organic optoelectronic devices' charge transfer components such as encompassing organic light-emitting diodes (OLEDs), organic field-effect transistors (OFETs), and organic photovoltaics (OPVs).
  • Increasing Pharmaceutical Industry- A naturally occurring substance with an intriguing chemical structure and biological characteristics, azulene is found in Achillea millefolium, Anthemis cretica, and other organisms, which is mostly utilized in pharmaceuticals, and its derivatives can also be employed as a structural theme in medicinal chemistry to create anti-inflammatory and anti-cancer drugs.

Challenges

  • Lack of raw materials – Azulene-the most significant component of known as chamomile-forms during the distillation process.  is among the oldest recognized therapeutic herbs to humans the scarcity of which can make it difficult for the producers to maintain a standard price. Moreover, the cost of chamomile essential oil depends on factors including seasonal availability which may hamper the production process.
  • Higher production costs may limit the production of azulene
  • Regulatory hurdles owing to its usage in cosmetics and pharmaceuticals may limit its adoption

Azulene Market: Key Insights

Base Year

2023

Forecast Year

2024-2036

CAGR

~4%

Base Year Market Size (2023)

~ USD 360 Million

Forecast Year Market Size (2036)

~ USD 1 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Azulene Segmentation

Form (Solid, Liquid)

The liquid segment in the azulene market is estimated to gain a robust revenue share of 60% in the coming years owing to its uses in several end-use industries. The essential oil of chamomile is the source of liquid azulene, which has important medicinal uses, owing to its anti-inflammatory, anti-allergic, and antibacterial qualities properties which makes it useful in formulations for a range of medical issues. Moreover, it can relieve skin irritation, lower inflammation, and accelerate the healing of wounds. Besides this, customers are looking for product formulations devoid of harsh chemicals, therefore liquid azulene is in line with consumers' increasing desire for unadulterated and natural products which is often incorporated into skincare, haircare, and personal care products.

End-User (Pharmaceutical, Cosmetics and Personal Care, Electronics)

The cosmetics and personal care segment in the azulene market is set to garner a notable share shortly. Numerous cosmetic items, such as soaps, cleansers, and moisturizers, contain azulene since it has potent anti-inflammatory qualities. One of the most popular components in skin care products for sensitive skin types is azulene, which is also present in hair care treatments and products, such as hair dyes, and conditioners, and also used in permanent hair straightening and permanent hair extensions. Additionally, moisturizers and skin care treatment serums, creams, and lotions include azulene since it aids in reducing the redness caused by imperfections, hastening the healing of the skin.

It has the power to minimize the signs of aging skin, and lessen the chance of fine lines and wrinkles, and can also help prevent cellular damage and is known to revitalize skin cells, which can help repair already-occurring cellular damage. It is capable of soothing skin; therefore, it is added to goods such as aftershave cream and wax oil.

Besides this, sunburn sufferers might also benefit from using azulene oil as it lessens redness, and is also applied by experts to avoid infection following skin procedures such as microneedling, laser hair removal, and other cosmetic procedures.

Our in-depth analysis of the global azulene market includes the following segments:

          Application

  • Moisturizer
  • Skin Conditioning Agent
  • Antiseptic
  •  Anti-inflammatory
  •  Liquid Crystals
  •  Polymeric Conductors
  •  Electro-chromic Materials

          End-User

  • Pharmaceutical
  •  Cosmetics and Personal Care
  • Electronics

          Form

  • Solid
  •  Liquid

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Azulene Industry- Regional Synopsis

North American Market Forecast

Azulene market in North America is predicted to the largest share of 40% by 2036, impelled by the growing spending in healthcare. This may raise the demand for pharmaceutical products such as anti-inflammatory cancer drugs which necessitate the use of azulene. For instance, the expense of healthcare is currently rising in the United States by around 1% faster than the GDP each year, and by 2028 the country is expected to spend over USD 6 trillion on healthcare. In addition, American women spend over USD 3750 per year on cosmetics and services. It has been found in a survey that each year, Americans spend more than USD 720 on skincare and cosmetics on average. This is expected to drive azulene market growth in the region.

APAC Market Statistics

The Asia Pacific azulene market is estimated to the second largest, during the forecast period led by the growing personal disposable income. As a result, the demand for cosmetics, such as skincare, makeup, and hair care products, is rising, leading to a higher demand for azulene in the region.  According to estimates, by 2027, India's household expenditure will surpass USD 2 trillion driven by a compound annual growth in disposable income of around 14%.

Research Nester
Azulene Market size
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Companies Dominating the Azulene Landscape

top-features-companies
    • Shanghai Zheyan Biotech Co., Ltd.
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Chemwill Asia Co., Ltd.
    • R & D Chemicals
    • Calibre Chemicals,
    • MEDIANS Co., Ltd.
    • Venus Concept
    • Sephora
    • Chemwill Asia Co., Ltd.
    • Haihang Industry Co., Ltd.
    • Guangzhou Fourto Sanitary Products Co., Ltd.
    • HONG KONG YASHA Bio-technology Company Ltd.
    • Mainchem Co., Ltd.
    • Hubei Xin Bonus Chemical Co. LTD

In-the-news

In The News

  • Calibre Chemicals announced the acquisition of Tina's laboratory to expand the scope of its Custom Development and Manufacturing (CDMO) Service offerings and provide customers with superior service with their experience and understanding in organic synthesis, electrochemistry, process development, and excellence in manufacturing.
  • Sephora announced a partnership with Reliance Retail Ventures to use RRVL's vast retail network to sell premium brands and merchandise and increase Sephora's visibility in India through a variety of platforms.

Author Credits:  Smruti Ranjan, Rajrani Baghel


  • Report ID: 5893
  • Published Date: Mar 19, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The growing chemical industry across the globe and the rising need for organic materials are the major factors driving the growth of the market.

The market size of Azulene is anticipated to attain a CAGR of 4% over the forecast period, i.e., 2024-2036.

The major players in the market are Chemwill Asia Co., Ltd., R & D Chemicals, MEDIANS Co., Ltd., Venus Concept, Chemwill Asia Co., Ltd., Haihang Industry Co., Ltd., Guangzhou Fourto Sanitary Products Co., Ltd., HONG KONG YASHA Bio-technology Company Ltd., Mainchem Co., Ltd., Hubei Xin Bonus Chemical Co. LTD, and others.

The liquid segment is anticipated to garner the largest market size by the end of 2036 and display significant growth opportunities.

The market in the North American region is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.
Azulene Market Report Scope
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