Farnesene Market Share, Size, Analysis, Growth, Trends and Forecasts to 2024 | Hexa Research
Hexa Research
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Farnesene Market Share, Size, Analysis, Growth, Trends and Forecasts to 2024 | Hexa Research
The global farnesene market stood at over 8 kilotons in 2015 and it is estimated to grow rapidly at a CAGR of 27 % during the forecast period( from 2016 to 2024). The booming cosmetics industry in the European region is expected to augment the global market for farnesene. Farnesene obtained through biotechnology route shapes building block for a number of chemicals, including squalene which has an extensive application scope in antiageing and moisturizing creams. This is also expected to drive the product demands in the near future. However, various alternative aviation bio jet fuels, FT based on HPO and biomass may hinder the market growth. The global market is divided into applications and regions.
The applications sector comprises cosmetics & personal care, fragrances & flavors,
performance material, and fuels & lubes. The cosmetics & personal care sector dominated the overall market in 2015 with the demand share of over USD 12 million. The performance
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