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Caprylhydroxamic acid, also referred as caprylohydroxamic acid or octanohydroxamic acid is an ample spectrum anti-fungal agent and a bactericide. Caprylhydroxamic acid is also abbreviated as CHA and unlike other common preservatives, it is considered to be effective anti-fungal agent especially at neutral pH levels. CHA is also a chelating agent for iron ions, although low iron environments show relatively lower levels of mold growth. CHA is used as an alternative of parabens. Parabens are widely utilized preservative chemicals but pose a large number of health and safety issues associated with them. Caprylhydroxamic acid is derived from coconut oil and is used in anhydrous and surfactant systems as well as emulsions. These surfactants and emulsions include lotions, creams, make-up products, shower gels, and others. CHA is often added to the water base, generally at ambient or hot temperatures and is also added after the emulsification process.
The global caprylhydroxamic acid market has foreseen a large number of potential growth opportunities in the past few years. Developing economies especially in Asia-Pacific and LAMEA are anticipated to dominate the market throughout the forecast period owing to increase in demand for non-toxic preservatives and rapid growth of the pharmaceutical industry. Moreover, developing countries such as China, India, Brazil, and Indonesia are projected to witness high demand for CHA owing to rapid urbanization and increase in influence of the western culture. Moreover, rise coconut production coupled with growth in support from the government also drive the growth of the global caprylhydroxamic acid market during the forecast period. However, due to increase in introduction of bio-based products along with volatility in the raw material costs hamper the overall market growth during the forecast period.
The global caprylhydroxamic acid market is segmented on the basis of application and geography. On the basis of application, it is classified into cosmetics additives, pharmaceutical intermediates, and others. By geography, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The major players operating in the global market focus on key market strategies such as mergers, acquisitions, collaborations, and partnerships. They also focus on strengthening their market reach to maintain their goodwill in the ever competitive market.
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