Global 7-Heptanediol Market Size (2023-2030)

The Global 7-Heptanediol Market was valued at USD 0.2 Billion and is projected to reach a market size of USD 0.37 Billion by the end of 2030. Over the forecast period of 2024-2030, the market is projected to grow at a CAGR of 9.6%.  The growth is attributed to the increasing demand for 7-Heptanediol in various applications such as pharmaceuticals, agrochemicals, and others. Additionally, it highlights the increasing focus of manufacturers on research and development activities to improve the efficiency of 7-Heptanediol, which is projected to drive market growth further. However, factors such as the high cost of 7-Heptanediol and stringent regulations imposed by the governments of various countries may hinder the growth of the market.

Industry Overview:

7-Heptanediol is a colourless & crystalline compound that is widely used in the manufacture of various products such as lubricants, adhesives, resins, and plasticizers. The market for 7-Heptanediol is primarily driven by its growing demand in the chemical and polymer industries. The compound is also used in the production of UV-cured coatings and printing inks, which further propels its demand in the market. The increasing adoption of 7-Heptanediol in the cosmetics industry, owing to its excellent moisturizing properties, is also a significant factor driving market growth. Additionally, the rising demand for eco-friendly and sustainable products is projected to further drive the demand for 7-Heptanediol in the near future. However, the availability of cheaper alternatives such as bio-based heptanediol & the fluctuating prices of raw materials used in its production are some of the factors that could hinder market growth. Nevertheless, the increasing investment in research and development to improve the production process of 7-Heptanediol is projected to create maturation opportunities in the market.

COVID-19 impact on the 7-Heptanediol Market:

The COVID-19 pandemic has had a significant impact on the 7-Heptanediol market, with disruptions across the supply chain & a decrease in demand from end-use industries. The global lockdowns and travel restrictions implemented to control the spread of the virus have led to a decline in demand for products that use 7-Heptanediol, such as cosmetics, personal care products, and lubricants. The restrictions on transportation and logistics have also disrupted the supply chain, resulting in delays in the delivery of raw materials and finished products. However, there have been some positive developments in the market as well. The increasing demand for hand sanitizers and disinfectants has led to a surge in demand for 7-Heptanediol as it is used as a key intermediate in the production of these products. The market has also seen a shift towards online sales channels, which have helped to sustain demand for 7-Heptanediol products. Overall, while the COVID-19 pandemic has presented challenges for the 7-Heptanediol market, there are opportunities for growth and recovery in the coming years.

Market Drivers:

• Growing Demand for Eco-Friendly and Sustainable Products helps to drive market growth:-
  • With the increasing awareness about environmental sustainability, there is a growing demand for eco-friendly & sustainable products in various industries such as automotive, construction, & packaging. 7-Heptanediol is used as a raw material in the production of bio-based & sustainable polymers such as polyesters & polyurethanes, which are widely used in these industries. The increasing request for such products is projected to drive the growth of the 7-Heptanediol market.
• Increasing Use in Personal Care and Cosmetics Industry helps to drive market growth:-
  • 7-Heptanediol is used as a key ingredient in various personal care & cosmetic products such as lotions, creams, and shampoos. It is used as a humectant and emollient due to its ability to retain moisture and provide hydration to the skin and hair. With the increasing request for personal care and cosmetic products, the demand for 7-Heptanediol is also projected to increase, thereby driving the growth of the market.

Market Restraints:

• The 7-Heptanediol Market's growth is being limited  by High production costs:
  • The production of 7-Heptanediol requires complex & sophisticated manufacturing processes, which can be expensive. The raw materials required for the manufacture of 7-Heptanediol are also costly, which can alter the overall production cost. This degree of production cost can conduct in an increase in the concluding price of the product, which can affect the economic process for 7-Heptanediol.
• The 7-Heptanediol Market's growth is being stifled by Limited application scope:
  • Although 7-Heptanediol has several applications, it is limited to certain industries, such as coatings, plastics, & adhesives. Its use in other industries is limited due to its specific properties & characteristics. This limited application scope can restrict the growth of the 7-Heptanediol market, as the demand for the product is largely dependent on the growth of these industries.

7-HEPTANEDIOL MARKET REPORT COVERAGE:

Market Segments:

This research report on the global 7-Heptanediol Market has been segmented based on Type, Application, and Region.

7-Heptanediol Market—By Type

• Purity 98%
• Purity > 98%

The 7-Heptanediol market can be segmented based on its type into Purity 98% & Purity > 98%. The Purity 98% segment holds a significant share of the market owing to its wide range of applications such as chemical intermediates, solvents, & others. The Purity > 98% segment is projected to see significant growth during the forecast period due to its high demand from end-use industries such as cosmetics, pharmaceuticals, & personal care. One of the key market insights & developments for the 7-Heptanediol market is the maturation demand for eco-friendly and bio-based chemicals due to increasing environmental concerns. The shift towards sustainable products and manufacturing processes is driving the demand for bio-based 7-Heptanediol, which is obtained from renewable sources.

7-Heptanediol Market – Application

• Pharmaceutical intermediates
• Chemical intermediates
• Others

7-Heptanediol finds applications in various industries, such as pharmaceuticals, chemicals, flavors, and fragrances. The pharmaceutical industry is a major consumer of 7-Heptanediol as it is a key intermediate used in the production of several drugs, including antibiotics, antidepressants, & antipsychotics. The demand for 7-Heptanediol in the pharmaceutical industry is driven by the increasing incidence of diseases and the need for effective and safe medicines. In the chemical industry, 7-Heptanediol is used as an intermediate in the production of various chemicals, such as nylon & polyester. The growing demand for nylon & polyester in various applications, including automotive, textile, & packaging, is projected to drive the demand for 7-Heptanediol in the chemical industry. Furthermore, 7-Heptanediol is also used in the production of flavors & fragrances, particularly for its woody & floral notes. The increasing demand for perfumes & personal care products, particularly in appearing economies, is projected to drive the demand for 7-Heptanediol in the flavors and fragrances industry. Overall, the increasing demand for 7-Heptanediol in various end-use industries, particularly pharmaceuticals & chemicals, is projected to drive the growth of the market in the coming years.

7-Heptanediol Market – By Region

• North America
• Europe
• Asia-Pacific
• Rest of the World

7-Heptanediol is a specialty chemical used in the manufacturing of a variety of products such as coatings, adhesives, & polymers. The market for 7-Heptanediol is segmented by region into North America, Europe, Asia Pacific, and the Rest of the World. In North America, the market for 7-Heptanediol is driven by modifying demand from various end-use industries such as automotive, construction, & packaging. The rising adoption of eco-friendly materials and regulations promoting the use of bio-based chemicals are also driving the growth of the market in the region. In Europe, the market for 7-Heptanediol is primarily driven by the growth of the automotive & construction industries. The increasing economic process for sustainable products & the adoption of advanced manufacturing technologies are projected to boost the growth of the market in the region. In the Asia Pacific region, the market for 7-Heptanediol is projected to develop at a significant rate during the forecast period. The increasing demand for 7-Heptanediol from emerging economies such as China & India, along with the growth of the construction & automotive industries in the region, are driving the growth of the market.

Major Key Players in the Market:

1. Merck KGaA
2. Tokyo Chemical Industry Co., Ltd. (TCI)
3. Alfa Aesar
4. Santa Cruz Biotechnology, Inc.
5. Haihang Industry Co., Ltd.
6. Capot Chemical Co., Ltd.
7. Matrix Scientific
8. Sichuan Huafamei Enterprise Co., Ltd.
9. Simagchem Corporation
10. Puyer BioPharma Ltd.

Market Insights and Developments:

• In August 2020, Kuraray Co. Ltd., a Japanese chemical company, announced the development of a new process to produce 7-Heptanediol using bio-based feedstocks. This development is projected to lead to a significant reduction in the carbon footprint of 7-Heptanediol production, in line with the gaining demand for sustainable & eco-friendly products.
• In March 2021, the Chinese company Tongling Reclay Group Co. Ltd. announced plans to grow its production capacity of 7-Heptanediol by setting up a new manufacturing facility. This expansion is purposed at meeting the growing request for 7-Heptanediol in the Asia-Pacific region, particularly in China, which is a major consumer of the compound.
• In June 2021, Evonik Industries AG, a German specialty chemicals company, declared the launch of a new grade of 7-Heptanediol that is suitable for use in the production of high-performance polyurethane coatings. This development is projected to grow the application scope of 7-Heptanediol in the coatings industry and drive the demand for the compound in the upcoming years.