Camphor Market Insights and Forecast - 2027
Camphor is a terpenoid with the formula C10H16O. It is flammable, waxy, and transparent solid with a very strong aroma. It can be formed both naturally as well as synthetically. The naturally occurring camphor is found in the wood of camphor Laurel (other Laurel trees) in evergreen forests of East Asia and Southeast Asia. Synthetic camphor is produced from the oil of turpentine. Camphor is also produced by biosynthesis method from geranyl pyrophosphate, followed by hydrolysis of borneol. It possesses various antibacterial, anti-inflammatory, and antifungal properties that make it suitable to be used in a wide variety of applications. It can be used in the form of powder, tablets, and oil. There are three grades of camphor, which include pharmaceutical grade, the food grade, and industrial-grade camphor. Pharmaceutical grade camphor is used in cosmetics and personal care products. The food-grade grade camphor is used to impart flavors and fragrances to different food items. Industrial-grade camphor is used in paints and lacquers, disinfectants, insecticides, agrochemical sectors, chemical Industries, paper industries, textile industries, and plasticizers for PVC.
COVID-19 Scenario Analysis
- Owing to the outbreak of the COVID-19 pandemic, the global camphor market is expected to witness a slowdown due to demand and supply chain disruptions.
- China, accounting for almost 80% of the world's production in synthetic camphor and the first to be affected by the COVID-19 pandemic has led the synthetic camphor market to experience a decrease in productivity rates.
- Chemical industries have been negatively impacted due to the COVID-19 outbreak. Camphor manufacturing units have also experienced a decrease in productivity rates and demand due to shutdown of temples and industries.
- However, rise in demand for antibacterial products where camphor is used extensively is expected to propel demand for camphor amid the COVID-19 scenario.
Top impacting factors: market scenario analysis, trends, drivers, and impact analysis
Rise in demand for various anti-bacterial and anti-fungal products where camphor is used extensively is expected to propel growth of the camphor market. In addition, rise in use of solid camphor (as disposable tablets) for religious rituals in various regions of Asia-Pacific is expected to propel growth of the camphor market. However, volatility in prices of camphor to be used for various applications is expected to hamper growth of the camphor market. In addition, side effects of camphor such as consuming camphor directly or inhalation of camphor may cause breathlessness, seizures, and even death, which restrains growth of the market. Conversely, developments in the use of camphor for various health-related disorders such joint treatment, cough infections, and skin related problems are expected to create lucrative opportunities for the global camphor market in the pharmaceutical sector. Moreover, owing to use of camphor in essential oils for creating light fresh cannabidiol (CBD) lotions also create new opportunities for the camphor market.
Key benefits of the report
- This study presents the analytical depiction of the global camphor market along with the current trends and market estimation to determine the imminent investment pockets.
- The report represents information related to key drivers, restraints, and opportunities along with a detailed analysis of the camphor market share.
- The current market is quantitatively analyzed to highlight the camphor market growth scenario.
- The report provides a detailed market analysis depending on competition and how the competition will take shape in the coming years.
- This report helps users in comprehending the key product segments and their future.
Questions answered in the global camphor market research report:
- What is the CAGR of the camphor market?
- Which are the leading players active in the camphor market?
- What are the current trends that will influence the camphor market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What should be the response of camphor market players amid the COVID-19 pandemic?
- What are the projections for the future that would help in taking further strategic steps?
- What is the outlook of the industry?
Camphor Market Report Highlights
Key Market Players
Taiwan Tekho Camphor Co., Ltd, Hunan Nutramax Inc., Beijing Herbal Health Biotech LLC, Camphor and Allied Products Ltd., Indukern Internacional, Saptagir Camphor Ltd.