Synthetic Camphor Market Research, 2031
The global synthetic camphor market was valued at $395.1 million in 2021, and is projected to reach $700.9 million by 2031, growing at a CAGR of 6% from 2022 to 2031. Synthetic camphor is a colorless, volatile chemical with a distinctive alcoholic odor. Synthetic camphor has extensive applications across plastic appliances, pharmaceuticals, paints & coatings, and medical industry, etc. Camphor, traditionally obtained by distilling camphor tree wood, is a key essential oil component of many aromatic plant species since it is biosynthetically synthesized; it may be chemically synthesized using mostly turpentine as a starting material.
Synthetic camphor contains a variety of biological properties, including insecticidal, antibacterial, antiviral, anticoccidial, anti-nociceptive, anticancer, and antitussive actions, in addition to its application as a skin penetration enhancer. Synthetic camphor is used to treat diseases such as joint discomfort, muscle pain, nerve pain, toothaches, pain, and itching, fungal infections of the toes, warts, cold sores, haemorrhoids, and others. Camphor oil contains camphor, a white crystalline powder with a characteristic penetrating, strong and fragrant odor.
However, camphor can cause difficulty breathing, convulsions, and even death. High quantities of camphor, whether inhaled or applied to the skin, can potentially be dangerous. They have the potential to induce skin irritation or seizures. This is a potential factor impacting the overall camphor market further hindering synthetic camphor market growth.
Camphor ingestion can be fatal, especially in children. Camphor poisoning is a major threat to children. Camphor should never be used on cuts or broken skin. It should not be used by pregnant or breastfeeding women.
It is a multifunctional chemical with a wide range of applications, ranging from treating medical ailments in people to being used as a natural toxin to kill insects, which seems contradictory. In reality, the toxicity of camphor in humans remains a source of concern, with several examples of unintentional poisoning resulting in significant symptoms. However, not just pure camphor should be examined; numerous items, plants, and essential oils contain camphor. Camphor's distinctive perfume has led to its widespread use in ointments and inhalants, particularly as an adjuvant in the treatment of the common cold. The biological effects of camphor have been connected to a number of biological processes, including antibacterial, antifungal, antimutagenic, antitussive, and insecticidal properties. Furthermore, the expanding range of plastics applications has also proven to benefit synthetic camphor because it is utilized as a softener in the production of celluloid and PVC plastics. Such applications of synthetic camphor will create numerous opportunities in the market further contributing to the synthetic camphor market growth.
The key players profiled in this report include Kanchi Karpooram Limited, Mangalam Organics Limited, Oriental Aromatics Limited, Aldon Corporation, Saptagir Camphor Limited, Nagase & Co. Ltd., Skyrun Industrial Co. Ltd., Spectrum Laboratory Products Inc., Wuzhou Huangpu Chemical Pharmaceutical Co. Ltd., Taiwan Tekho Camphor Co. Ltd., and others.
The global synthetic camphor market is segmented on the basis of grades, application, and region. By grade, the market is sub-segmented into pharma grade and technical grade. By application, the market is classified into pharmaceutical, personal care, plasticizer, paints & coatings, flavor & fragrances, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The synthetic camphor market is segmented into Grade and Application.
By grades, the pharma sub-segment is predicted to be the fastest growing in the market during the forecast period. The rise in demand for private-labeled camphorated medical items is also driving sales of pharma-grade synthetic camphor. Private-label analgesic medications, for example, have grown in popularity in the U.S. since they lack FDA (Food and Drug Administration) approval and are heavily promoted by retail enterprises.
By application, the pharmaceutical sub-segment is anticipated to be the fastest growing in the market during forecast period. Camphor has traditionally been used as a cold remedy to treat chest congestion and inflammation-related illnesses such as rheumatism, sprains, bronchitis, asthma, and muscle pain. It is commonly used to treat joint & muscular pain and inflammation as a balm, oil, or cream.
When camphor oil is combined with cotton seed oil, it generates a sensation of coldness on the skin, which is related to the activation of nerve endings sensitive to cold. Owing to the abovementioned factors, the synthetic camphor market size is expected to grow in the coming years.
Impact of COVID-19 on the Global Synthetic Camphor Industry
- COVID-19 has negatively impacted various industries such as automotive which has led to a drastic decline in paints & coatings sales. As synthetic camphor is widely used in paints & coatings production, there was a significant reduction in the synthetic camphor market forecast globally.
- China holds major synthetic camphor market share and camphor exporter. However, with China being the epicenter of the coronavirus pandemic, its exports were affected, leading to a decline in synthetic camphor production.
- Manufacturers are working hard to build traction and attract clients globally in 2021 through inventive launches and technology breakthroughs after the lockout was lifted to enhance economic conditions.
- Government initiatives, a larger consumer base, lifestyle changes, more disposable incomes, and a greater emphasis on healthcare and sanitation are all factors contributing to recovery.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the synthetic camphor market analysis from 2021 to 2031 to identify the prevailing synthetic camphor market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the synthetic camphor market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global synthetic camphor market trends, key players, market segments, application areas, and market growth strategies.
Synthetic Camphor Market Report Highlights
| Aspects | Details |
 Market Size By 2031 | USD 700.9 million |
 Growth Rate | CAGR of 6% |
 Forecast period | 2021 - 2031 |
 Report Pages | 280 |
 By Grade |
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 By Application |
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 By Region |
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 Key Market Players | aldon corporation, Shanghai Huayi Group Huayuan Chemical Co., Ltd., SAPTAGIR CAMPHOR LIMITED, Rochem International Inc., Oriental Aromatics Limited, Wuzhou Huangpu Chemical Pharmaceutical Co, Ltd., Caesar & Loretz GmbH, Taiwan Tekho Camphor Co., Ltd., Mangalam Organics Limited, KANCHI KARPOORAM LIMITED |
Analyst Review
An increase in demand for use in medicines and in dermacosmetics is the key factor that is projected to drive the growth of the global synthetic camphor market during the forecast period. In addition, use of synthetic camphor in the production of paints and plastic appliances is expected to fuel growth of the market during the forecast period. However, increased rivalry in the chemical industry and cost associated with the production of synthetic camphor are the key factors expected to hamper the market growth. On the contrary, camphor advances for numerous health-related issues such as joint therapy, cough infections, and skin ailments are expected to provide lucrative opportunities in the upcoming years.
Among the analyzed regions, Asia Pacific is expected to account for the highest revenue in the market by the end of 2031, followed by Asia-Pacific, North America, and Europe. Rapid industrialization and advancement in chemical industry are the key factors responsible for leading position of LAMEA and Asia-Pacific in the global synthetic camphor market.
The diverse applications of synthetic camphor across chemical, pharmaceutical, and medical equipment are the major market drivers. In addition, the use of synthetic camphor in the agricultural sector, where pesticides such as moth and mosquito repellants are made with synthetic camphor, is estimated to generate excellent opportunities in the synthetic camphor market.
Rise in application of synthetic camphor in various health-related conditions such as joint therapy, cough infections, and skin disorders is anticipated to boost the synthetic camphor market in the upcoming years.
Asia Pacific will provide more business opportunities for the global synthetic camphor market in future.
The major growth strategies adopted by synthetic camphor market players are investment and agreement.
Kanchi Karpooram Limited, Mangalam Organics Limited, Oriental Aromatics Limited, Aldon Corporation, Saptagir Camphor Limited, Nagase & Co. Ltd., Skyrun Industrial Co. Ltd., Spectrum Laboratory Products Inc., Wuzhou Huangpu Chemical Pharmaceutical Co. Ltd., Taiwan Tekho Camphor Co. Ltd., and others the major players in the synthetic camphor market.
Pharmaceuticals sub-segment of the application acquired the maximum share of the global synthetic camphor market in 2021.
Pharmaceutical industry leaders and chemical manufacturers are the major customers in the global synthetic camphor market.
The report provides an extensive qualitative and quantitative analysis of the current trends and future estimations of the global synthetic camphor market from 2022 to 2031 to determine the prevailing opportunities.
The use of synthetic camphor in anti-bacterial and anti-fungal treatments in religious rites is estimated to drive the adoption of synthetic camphor.
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