Azulene Market Trends

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