Sandarac is a resin mainly obtained from a tree Tetraclinis articulata. The tree found in the northwest part of Africa and other parts of the continent. The sandarac has various applications and creates ample opportunity for the manufacturers across the globe. The sandarac market is expected to witness growth owing to the demand from the fragrance industry in the forecast period. Sandarac gum is highly aromatic and used to manufacture perfumes and fragrance. Also, sandarac gum is used to manufacture lacquer and varnish as its coating becomes durable, lustrous and hard on the application. The global sandarac market is expected to grow with a high-end single-digit CAGR over the forecast period due to the growth in the production and demand for sandarac gum across the globe.
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Global Sandarac Market growth Triggered by Growing Cosmetic & Personal Care Industry
The sandarac market can be classified on the basis of form as powder form, liquid extract, and granular form. The demand for sandarac liquid extract segment in the fragrance industry likely to boost the market growth in the forecast period.
The sandarac market can also be classified on the basis of end-use industries as the cosmetic & pharmaceutical industry, flavoring industry, coating & pigmentation industry, the medical & pharmaceutical industry, and other end-use industry. The growing demand of sandarac in cosmetic & pharmaceutical and flavoring industry likely to contribute to the growth of the global sandarac market.
Consumer Demand for New Fragrance Products is expected to Create Ample of Opportunity for the Manufacturers in Sandarac Market
Some of the key players in the sandarac market are Kama Pigments, Samson Kamnik d.o.o. , Scents of Earth LLC, Guild of Limners, Earth Pigments Company, LLC., Pangaea Sciences Inc., Parchem Fine & Specialty Chemicals, Indigo Herbs Ltd, Sinopharm Chemical Reagent Co., Ltd. and other. The prominent players are concentrating on the extension of their production abilities and vertical integration for business development. The marketing strategy by manufacturers is expected to contribute for the growth of sandarac market in the forecast period, 2018-2028.
The research report presents a comprehensive assessment of the sandarac market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The sandarac market research report provides analysis and information according to market segments such as geographies, application and industry.
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Widespread Application of Sandarac in the Fragrance Industry will boost market growth
The growing demand of sandarac gum for making organic cosmetics & personal care products is expected to contribute for the growth of the sandarac market in the forecast period. The sandarac is also used to make varnish which works as a protective coating on antiques and paintings. The sandarac has aromatic properties and therefore used to manufacture different perfumes, incense, and other products. The wide application of sandarac in different end-use industries likely to push the demand and the global sandarac market.
Moreover, the sandarac is used to make mineral spirit which is used in medical and pharmaceutical applications. The macroeconomic factors of strengthen trade investment and relationship between different countries across the globe which is likely to boost the global sandarac market. The aforementioned factors related to demand and production of sandarac is anticipated to boost the growth of the global sandarac market over the forecast period (2018-28).
Global Sandarac Market expected to dominate by North America in the forecast period
The global sandarac market can be segmented on the basis of the geography as Western Europe, North America, Asia and Pacific excluding Japan (APEJ), Latin America, Eastern Europe, Japan, and the Middle East and Africa (MEA). The regional segments also include emerging countries such as China, South Africa, and Australia in the sandarac market. Among the segmented regions, sales and demand for the sandarac in North America are expected to hold a significant share in the global market. The North America sandarac market is growing due to the substantial growth in the cosmetic & personal care industry in the region. Moreover, the substantial growth of the coating & pigmentation (paint) industry in the developing regions such as Asia and Pacific excluding Japan (APEJ) and Latin America is expected to contribute for the growth of the global sandarac market in the forecast period. The Middle East and Africa being the prominent producer of the sandarac and create the growth opportunity for local manufacturers in the global market.
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