Camphor Oil Market

CAMPHOR OIL MARKET REPORT OVERVIEW

The global Camphor Oil Market size was USD 87.8 million in 2023 and the market is projected to touch USD 111.8 million by 2031, exhibiting a CAGR of 3.5% during the forecast period.

Camphor oil is aromatic and easily absorbed by the skin. It mainly provides numerous health benefits, such as pain relief and easing of skin irritation. Camphor oil usually extracted from the wood of camphor trees, scientifically known as Cinnamomum camphora, which has a strong aroma. It can also be synthesized directly from turpentine. Camphor oil has a variety of uses which includes its anti-inflammatory properties which is often used as an ingredient in vapor rubs, liniments and balms. Several people use its magical benefits to relieve irritation, itching and pain. As an ingredient in various other products, it can also be used to ease inflammatory conditions and chest congestion. One of the major benefits of using camphor oil is that it can also help reduce chronic muscle and joint pain over longer periods.

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

The COVID-19 pandemic threw a wrench into the gears of market growth, putting a damper on camphor oil due to disruptions in the supply chain. The way things are usually made and moved around faced a lot of challenges, affecting the smooth distribution of camphor oils. With factories closing down or slowing production and difficulties in transporting goods, the usual flow of things got disrupted. This had a direct impact on the growth of the market, slowing down the pace at which camphor oils could expand or improve. While the hope is that as the situation improves, the market will recover, the immediate impact of the pandemic has been a roadblock for camphor oils.

"Increasing Research and Development (R&D) on Camphor Oil to accelerate the Market Growth"

With the rise in demand of camphor oil, researchers have been working on the use of this oil as an additive in diesel engines. Moreover, Less Viscous and Low Cetane (LVLC) fuels have emerged as better alternative fuels in comparison to fossil fuels. Camphor oil is one such potential LVLC fuel which is used as a fuel additive in diesel engines as well. Camphor oil is added to diesel engines to rise the brake thermal efficiency of an engine at all loading conditions enhancing the efficiency of that engine, which in return improves the life cycle of the vehicle. Furthermore, due to its high viscosity, the use of fresh Cashew Nut Shell Liquid (CNSL) as a fuel in injection diesel engines depicts major problems of incomplete combustion and low brake thermal efficiency.

CAMPHOR OIL MARKET SEGMENTATION

By Type

Based on type the market can be categorized into Compound Essential Oil, Unilateral Essential Oil.

• Compound Essential Oil: Compound essential oilsare mainly naturally synthesized while plant essential oils are naturally extracted from plant extracts. Though their ingredients may differ, they mainly achieve similar purpose.
• Unilateral Essential Oil: These unilateral essential oil plants are pure extracts of plants which do not contain the fatty acids mainly found in traditional oils with a high concentration of distillate obtained from plants. Furthermore, not all plants can produce certain flavors of these essential oils.

By Application

Based on application the market can be categorized into Medical, Spa and relaxation & others.

• Medical: Camphor oil is an ingredient used for pain relief medications and it may also help cure muscle aches and pain while stimulating circulation.
• Spa and relaxation: These oils can be used after activities such as gardening, jogging and trekking and also as an additive during spa sessions, meditation or yoga.

"Therapeutic Properties Of Camphor Oil To Accelerate Market Growth"

One of the key driving factors in the Camphor Oil Market growth is rising demand and therapeutic properties. These elements serve as a driving force behind the advancement of market dynamics. Camphor Essential Oil is mainly known for various medicinal purposes such as to reduce hair loss, boost growth, clean and disinfect the scalp and to improve texture by contributing smoothness and softness. Camphor's other properties such as hair-softening and acting as a refreshing scent make it a much more effective ingredient in hair care formulations used in shampoos, conditioners, scalp scrubs and serums.

"Growing globalization, urbanization and industrialization to propel the Market Growth"

Rapid industrialization in various sectors including gas, oil, chemicals, food and beverages is a major factor increasing the demand for camphor oils. With growing globalization and urbanization there is a massive surge in the requirements of camphor oils across the globe. This rise is mainly due to its medicinal properties and increased usage by several users.

"Concerns over the Safety Of Using Camphor Oils Due To Toxicity To Decrease Market Growth"

One of the major hindrance is the high safety concerns associated with it. Ingestion of Camphor by people can lead to hepatoxicity mainly liver damage and neurotoxicity which means damage to the nervous system. Camphor can cause eye and skin irritation on contact. Inhalation and skin exposure can also result in acute toxicity which may lead to symptoms such as muscular excitability resulting in tremor and twitching, nausea, vomiting, headache and dizziness.

CAMPHOR OIL MARKET REGIONAL INSIGHTS

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.

"Asia Pacific to Dominate the Market due to its climate, production and rich biodiversity"

Asia Pacific has emerged as the most dominant region in the Camphor Oil Market share due to its climate, production and rich biodiversity. Camphor oil is extracted from camphor tree scientifically named Cinnamomum camphora, which is indigenous to Vietnam (Asia) and in an area extending from southern part of China to southern area of Japan. Due to the rise of industrialization and urbanization this region is witnessing rapid growth and is contributing to the market revenue growth.

"Key Players Transforming the Camphor Oil Landscape through Innovation and Global Strategy"

Major industry players are pivotal in shaping the Camphor Oil Market, driving change through a dual strategy of continuous innovation and a well-thought-out global presence. By consistently introducing inventive solutions and staying at the forefront of technological progress, these key players redefine the industry's standards. Simultaneously, their expansive global reach enables effective market penetration, addressing diverse needs across borders. The seamless blend of groundbreaking innovation and a strategic international footprint positions these players as not only market leaders but also as architects of transformative shifts within the dynamic domain of camphor oils.

• Albert Vieille (France)
• Berje (U.S.)
• Elixens (U.S.)
• Ultra International (Netherlands)
• Penta Manufacturing Company (U.S)
• Treatt Plc (U.K.)

October, 2021: Berje Inc. (Australia) offers camphor oil such as white Chinese camphor oil mainly used as base material for several perfumery products.

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.