Capric acid, also known as Decanoic acid, is a saturated fatty acid naturally found in animal fats, milk of goats and cows, and plant oils such as palm and coconut oil. Capric acid is used in the manufacturing of esters for artificial flavoring, color, and aroma. Moreover, it is used in the production of personal care products, pharmaceuticals, synthetic rubbers, dyes, lubricating grease, and plastics products. It is a vital part of the delivery system that helps the diabetics absorb prescribed amounts of insulin. The world capric acid market is expected to witness dynamic growth, owing to the large number of end users and increasing industry applications.
Factors such as progressive demographic changes and consumer awareness regarding personal care have boosted the capric acid market. Moreover, increasing consumption of processed and packaged food products has fostered the demand for new artificial flavoring and coloring agents. However, the exposure in its refined form leading to skin or pulmonary irritation and irregular availability of raw materials are the major factors restricting the market growth. The prominent pharmaceutical companies intend to use the capric acid present in coconut oil to manufacture drugs for diabetic patients, which boosts the growth of the market.
The capric acid market is segmented on the basis of source, end user, and geography. Based on the source, the market is categorized into animal and plant sources. The end users of the market include food & beverages, industrial chemicals, personal care, and pharmaceuticals sectors, among others. The market is analyzed on the basis of four regions, namely North America, Europe, Asia-Pacific, and LAMEA.
Leading market players have adopted expansion as their key strategy, owing to the increasing demand and wide variety of end-use applications. In January 2013, Ecogreen Oleochemicals announced the expansion of its Batam (Indonesia) plant to increase its production capacity to 360,000 tonnes/year. In July 2015, Univar USA, Inc. acquired Chemical Associates, Inc. to foster the development of innovative products and optimization of chemical manufacturing methods.
The key players profiled in this report include Oleocomm International Ltd., Henan Eastar Chemical Co. Ltd., Ecogreen Oleochemicals (Singapore) Pte Ltd., Chemical Associates, Inc., Acidchem International Sdn. Bhd, and Chemseed, among others.
KEY BENEFITS FOR STAKEHOLDERS:
- The report provides a quantitative analysis of the current market and estimations for the period of 2014-2020 to enable stakeholders to capitalize on the prevailing market opportunities.
- Comprehensive analysis of the market segments provide a clear view and potential to the stakeholders.
- Current and future trends provide to determine the overall outlook and individual trends for better understanding of the market.
- Value chain analysis of the market provides a clear picture of the role of individual stakeholders in the value chain.
- The report provides information regarding key drivers, restraints and opportunities for North America, Europe, Asia-Pacific, and LAMEA regions.
- SWOT analysis highlights the internal and external environment of key market players for effective strategy formation.
KEY MARKET SEGMENTS:
Market By Source
Market By End Users
- Food & Beverages
- Industrial Chemicals
- Personal Care
Market By Geography
- North America
- Latin America
- Middle East