Competitive Situation: What will be the Future of Synthetic Camphor Market
Pune, New York, USA, November 20 2020 (Wiredrelease) Research Dive –:Camphor or Cinnamomum Camphor, to be termed scientifically is an ignitable, luminous white solid with piquant smell and sour taste. Its menthol-like, nose tingling fragrance appeals to some.
Extracted from Alpha-Pinene, synthetic camphor is transformed into camphene by esterification of bornyl acetate. It is a white crystalline chemical affluence which has a strong mothball like odor and a chemically sedentary substance.
Synthetic camphor is used as an ingredient in pharmaceuticals such as antipruritics, anti-infectives, and rubefacient medications that reduce pain and itching. It has also various applications in industries. The manufacturing process of plastics, cellulose nitrate, and polyvinyl chloride.
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Factors behind the Market Growth
Increasing popularity of over the counter (OTC) drugs that are used to treat arthritis-related problems as well as nasal blocking has surged the need of synthetic camphor. Moreover, the usage of synthetic camphor in the manufacturing process of plastic products and smokeless powder ingredients has positively impacted the growth of the global synthetic camphor market.
Pharma grade synthetic camphor is used in the production of OTC drugs owing to its antibacterial and antifungal properties. Approved by the FDA, the over the counter drugs are generally used to treat joint pain, common cold, cough, nasal blockage. OTC drugs such as Vaporex and Apanol Alcanfor contain 10% of camphor. These medicines are used to reduce joint pain, muscle pain, and back pain. In addition, synthetic camphor is also used in hair care products. It helps in reducing hair fall and its anti-microbial property kills head lice. Synthetic camphor is also found in skincare products. It is beneficial for skin health as it lessens skin redness, rashes, and improves the appearance of skin by imparting numbness to the nerve endings of skin. These are the main attributors behind the growth of the global synthetic camphor market in the forecast period.
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Recent Developments in the Industry
According to a recent report by Research Dive, the leading players of synthetic camphor market include Mangalam Organics Limited, Spectrum Laboratory Products Inc., Oriental Aromatics Limited, Kanchi Karpooram Limited, Aldon Corporation, Saptagir Camphor Limited, Nagase & Co. Ltd., Skyrun Industrial Co. Ltd., Wuzhou Huangpu Chemical Pharmaceutical Co. Ltd., Taiwan Tekho Camphor Co. Ltd., and others.
These market players are developing unique and smart strategies to take the market to another height. The strategies include product innovation and launches, technology and product upgradation, mergers and acquisitions, and partnerships and collaborations.
Some of the recent advances of the market are mentioned below:
Kanchi Karpooram Limited (KKL) expanded its production capacity of camphor and camphor derivative products of the facility located in Tamilnadu. KKL expanded its production capacity from 110 MT/Month to 330 MT/Month. This expansion helped the company to extend its production capacity and strengthen its product portfolio.According to a latest news, Mangalam Organics Limited (Mangalam Organics) entered into an alliance with Les Derives Resiniques Et Terpeniques SA (DRT) in Feb 9, 2018. Based out of France, DRT is a leading manufacturer of phenolic resin. The primary reason behind this agreement was to expand the global footprint of Mangalam Organics and strengthen the product portfolio.Saptagir Camphor Limited (SCL) and Camphor & Allied Products Limited merged their business in April 5, 2016. Camphor & Allied Products Limited is leading manufacturer of camphor products. This merger has expanded product portfolio of SCL and enhanced its business of camphor products.
Much like other industries, synthetic camphor market has also been impacted by the destructive wave of the pandemic. The global synthetic camphor market is witnessing a positive growth in the market because of all these advances in recent months. With the brilliant strategies taken by the lead players, the market will be sustaining its growth after the pandemic ends.
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