Global limonene market size was estimated at over 45 kilo tons in 2015 and is anticipated to exceed 65 kilo tons by 2023, with estimated gains at above 5%. Cleaning application accounted for more than 45% of the total demand in 2015 and is likely to grow at steady rates up to 2023.
The limonene market price trend experiences fluctuation which is expected to squeeze company profit margins. This is likely to challenge industry growth and price management efforts by manufacturers and blenders which use the product in degreasers or citrus cleaner applications. This is due to the orange production lag owing to innumerable weather which creates supply demand deficit.
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Some halogenated hydrocarbon solvents can cause adverse health effects for workers. Their use is curtailed under regulations or eliminated. Also, many solvents are flammable, thereby restriction use in situations where explosion and fire are safety concerns. Manufacturers are increasing preferring to green solvents, particularly, d-limonene to avoid the potential hazards. Global green solvent market size was over 2.5 million tons in 2015 and is likely to reach over 3.3 kilo tons by 2023, growing at a CAGR of more than 4.2%.
Halogenated hydrocarbons or Petrochemical derived solvents were majorly used for cleaning applications such as dirt, greases, asphalt deposits, oxidized films and grime. These cleaning materials used can be either hazardous or leave residues responsible for environmental pollutants. This factor is likely to drive limonene demand over the coming seven years.
It is used for maintenance cleaning for applications such as parking complexes, airport runways and concrete pads. The oil & greases which drip from cars could be lifted off the concrete floors using the product. Some of the product application also involves as small floor scrubbers for oil & fork lift tire marks removal.
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Other applications include adhesive removal, marine vessel cleaning, asphalt grading, solvent carriers, printing ink cleaners, spot & stain removers and release agents.
The global limonene market share is characterized by competition based on prices and service provided to clients. Major industry participants are based in the U.S. and Brazil. Major companies include Florida Chemical Company, Lemon Consentrate S.L., XR-2000, Inc. and Schepise Chemical Sales, LLC. Other prominent players include Orchidia Fragrances, Sharp Methanol India Ltd, Citroflavor Essential Oils, Hunter Sales, Inc., EZclean and Frutech International.
This latest Limonene Market research report offers in-depth analysis, key industry insights, market sizing & forecast on a granular level for key products, applications across number of regional markets. The report also analyzes the Limonene industry from business strategy perspective, describing in detail growth drivers, pitfalls &challenges for participants, accompanied by a detailed competitive benchmarking including company market share analysis and detailed business profiles.
Browse key industry insights spread across market data tables, figures & charts from the report “Limonene Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2023.” in detail along with the table of contents:
Key Insights in this Report
- Global Limonene Market size & forecast by product & application
- Growth drivers, pitfalls & industry challenges
- Key Limonene Market growth opportunities & emerging business models
- Competitive benchmarking with market share analysis and company profiles
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