While the world is making a shift away from the use of chemicals in various products that are used on a daily basis, camphor is emerging as a popular chemical ingredient in most of the natural end products. Being a translucent terpene ketone, white/grey in colour, and crystalline in form, camphor does not only have a pleasant odour, but it also offers versatile physical properties – which usually depend on its species, origin, and other specific growing conditions.
Though camphor is commonly produced by the distillation of bark and wood of the camphor tree, it can also be manufactured synthetically; carrying out the synthesis of turpentine oil which is produced from rosin, kinleith, and pine wood among multiple other ingredients.
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Pharmaceuticals Industry will Create Lucrative Opportunities for Camphor Market Players
The global market for camphor is highly characterised with its association with a wide range of end-use industries. However, the pharmaceuticals industry is expected to account for a significant share in the increasing global demand for camphor. Especially in cough-related remedial products, such as vapour rub and ointments, camphor has witnessed complete acceptance from the healthcare and pharmaceuticals industry.
Furthermore, the pharmaceuticals industry is also accepting camphor oil as an integral ingredient in natural skincare products, as camphor oil can be positively used in the treatment of various skin-related infections. Its use in muscle relaxant ointments is also opening a new window of opportunities for stakeholders in the camphor market. In the coming years, leading players are likely to focus on expanding the target audience in a vast range of industries, and capitalize on the growing acceptance for camphor in most of the pharmaceutical and healthcare industries across the world.
Potential Impact of the COVID-19 Pandemic on the Supply of Pharma-grade Camphor
Though the global outbreak of the novel coronavirus has instigated a global lockdown, camphor market may continue to witness high demand in the coming years. Growing awareness about the medical properties of camphor that treat cough-related infections is triggering the use of camphor oil and tablets as a traditional and natural remedy to prevent the coronavirus infection. However, as most of the industrial activities have slowed down, this may be a negative impact on the production of pharma-grade camphor, and this may influence the growth dynamics of the global camphor market in the coming years.
Camphor Market: Region-wise Analysis
The global market for camphor is divided into seven geographical segments – North America, Latin America, Europe, East Asia, South Asia, Oceania, and Middle East & Africa. The Asia Pacific region is expected to account for a significant revenue share in the global camphor market, mainly accounting for the use of camphor in a variety of traditional medicinal products. As camphor is among the most commonly used household goods, leading manufacturers are aiming to maintain a healthy demand-supply balance in the Asia Pacific region, in the coming years.
North America is also emerging as a profitable regional market for camphor manufacturers, distributors, and other stakeholders. A mounting number of end-use industries are moving to replacing chemicals with camphor to avail its natural, medicinal properties, in order to sync with the consumer demand for ‘all natural’ products. As a result, leading players in the global camphor market will witness a burgeoning demand from the end-use industries situated in the North American region, in the foreseeable future.
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Camphor Market: Competitive Landscape
- Beijing Herbal Health Biotech LLC,
- Taiwan Tekho Camphor Co., Ltd
- Indukern Internacional
- Saptagir Camphor Ltd.
- Camphor and Allied Products ltd.
- Hunan Nutramax Inc.
Region-wise Analysis
- North America (U.S., Canada)
- Latin America (Mexico, Brazil)
- Europe (Germany, U.K., France, Italy, Spain, Poland, Russia)
- East Asia (China, Japan, South Korea)
- South Asia (India, Thailand, Malaysia, Vietnam, Indonesia)
- Oceania (Australia, New Zealand)
- Middle East & Africa (GCC Countries, Turkey, Northern Africa, South Africa)
The camphor market can be segmented on the basis of the following:
By Form
- Oil
- Tablets
- Powder
By End-use Industry
- Agriculture
- Pharmaceuticals
- Food & Beverage
- Chemicals
- Others
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