Borneol Market Size, Share, Growth, and Industry Analysis by Type (Synthetic Borneol, Natural Borneol), by Application (Pharmaceutical Industry, Flavors & Fragrances, Daily Chemicals), and Regional Forecast to 2027

Updated On: 08 April 2024

Report Overview

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The global borneol market size was USD 191.6 million in 2020. As per our research, the market is expected to reach USD 232.6 million in 2027, exhibiting a CAGR of 2.8 % during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with borneol market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market growth and demand returning to pre-pandemic levels once the pandemic is over. 

Borneol is a bicyclic organic compound and a terpene derivative. The hydroxyl group in this compound is placed in an end position. Borneol refers to a crystalline cyclic alcohol which is predominantly used for the making of perfumes and other smelling substances. It is often used as a messenger drug containing a number of herbs. It is also a part of several essential oils. It is also used to prevent cardiovascular disease in a combined solution as it tones the heart and enhances circulation. It provides many health benefits such as improved digestion and better blood circulation. The rising urbanisation and the improving living standards of the middle class due to the rise in disposable incomes are expected to drive the growth of the industry. The market is anticipated to achieve exponential industry growth over the given forecast period. Market opportunities are expected to open up growth window for the new entrants in the market. It helps to understand unmet needs or an untapped potential in the market. There have been several alterations in the production methods that are projected to drive the growth of the business. Technological advancements and innovation activate unique revenue augmenting opportunity which will upsurge the borneol market growth. Growing investment in research and development activities and growing awareness about benefits are expected to deliver profitable opportunities for the market. Constant development are one of the trends in the market. Restraining factors are important to examine so that the companies can develop plans to overcome their negative effect on the growth of the market. Participating are fixing their efforts on encouraging R&D. Technological development are supporting the regional market growth. Companies coming up with progressive technological solutions for firming their positions.

COVID-19 Impact:  Pandemic hampered the market due to unexpected disruption in the sector

Covid 19 pandemic has extremely affected the whole world. It caused many unexpected disruption and affected the industry. Covid 19 had negative impact on the market due to economic slowdown, unpredictability in financial sector and high unstable market. The pandemic resulted in decreased demand due to a disrupted supply chain, drop in sales of products, delivery schedules. Travel bans imposed affected business collaboration and partnership. Demand had recently reduced due to travel bans and lockdown during the COVID-19 pandemic. The continuous loss in the business due to the lockdown measures is projected to directly influence the growth of the investments in the market.

Latest Trends

"Use of innovative products to boost the market growth "

Technological improvement and development will further enhance the presentation of the product, allowing it to obtain a varied range of requests in the market. Technological advancement will improve performance and propel the market growth. Technological advancement with high demand are increasingly setting a force to increase the productivity. Some players focus on product improvement to meet consumer requirements and likings. Constant innovation in manufacturing of products is anticipated to stimulate product demand.

Segmentation

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• By Type Analysis

According to type, the market can be segmented into Synthetic borneol, natural borneol

Synthetic borneol to capture the maximum market share through forecast period.

• By Application Analysis

According to application, the market can be segmented into pharmaceutical industry, flavors & fragrances, daily chemicals.

Borneol market players cover segment as chemical industry will dominate the market share during forecast period.

Driving Factors

"Increasing demand in pharmaceutical sectors to boost the market growth"

Pharmaceutical sectors are expressively contributing to the demand for borneol market. The pharmaceutical industry has progressively grown in recent years as the population is senior and health services have been reinforced which is augmenting opportunity. It is widely used in the treatment for rheumatic diseases like spondyloarthrosis.

"Personal care industry to upsurge the market"

Perfumes and deodorants have become a vital part of the products of personal care that enhanced the awareness and importance of personal hygiene. Personal care industry are projected to witness a vigorous growth in the coming years thus forcing the growth of the business onwards.

Restraining Factors

"High cost of maintenance to hamper the market growth"

Allergy is hampering development of the market. Perfumes are made up of numerous ingredients that comprise a complex blend of natural and synthetic chemicals. Aroma chemicals can cause allergies in a human being. Contact to aroma chemicals-based products can cause eye, nose, throat irritation, headaches, nausea, forgetfulness, and loss of coordination. Some of these symptoms need instant medical attention. Some of the limiting factors including strict government regulations, supply chain disruptions, changing consumer preference are affecting the market growth in the near future.

Regional Insights

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"North America to dominate the region due to technological development"

North America is further expected to witness growth in the borneol market share. The region is dominating the market due to rising production of biologic medicines in the region. The rising inhabitants and increasing income levels are also contributing to the development of the market. Upsurge in investments by key market players for the R&D undertakings and enlargement of their production abilities and product portfolios are projected to upsurge the growth. The expansion of regional market is being aided by technological developments.

Key Industry Players

"Key players focus on partnerships to gain competitive advantage"

The key players are dynamically contributing in strategic events that are aimed at maintaining strong market position and increasing market share by merger, partnerships and others. Key players are motivated to introduce new innovative products. They are spending severely on research and development in order to arise with more new technology so that they can maintain and improve their existing market. The market changes are dynamic such as market expansion, partnership and merger.

List of Market Players Profiled

• Fujian Green Pine (China)
• Wuzhou Huangpu Chemical (China)
• Zhejiang Zhengrong (China)
• Taiwan Tekho Camphor (Taiwan)
• Yunnan Linyuan Perfume (China)

Report Coverage

The report provides scrutiny and information according to market sectors. Business overview, financial overview, product portfolio, new project launch, recent development enquiry are the factors included in the profile. The report incorporates completely examined and appraised evidence of the noticeable players and their position in the market by methods for various descriptive tools. The report covers national and regional level market size and forecast. The report gives businesses the facility to research new prospect in many areas. The report shows to be an operational tool that players can use to gain a competitive superiority over their opponents and ensure lasting achievement in the market.