The report is titled “Capric Acid Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023.” The report provides information that helps a reader make clear, decisive decisions in the global capric acid market, based on the important information provided in the report regarding the challenges that new entrants face, the strategies used by leading companies in the capric acid market, and also the present and future trends in the market.
Transparency Market Research (TMR) has announced the release of a new market study based on the capric acid market. The report analyzes the drivers and restraints of the capric acid market, and the impact of these on the demand for capric acid during the forecast period from 2015 to 2023. The report studies the attractiveness of the capric acid market on the basis of factors such as growth rate and market size. According to the report, the global capric acid market is expected to expand at a CAGR of 5.0% during 2015 to 2023, reaching a value of US$1.8 bn by the end of 2023.
Capric acid, also known as decanoic acid, is a saturated fatty acid. Capric acid has a wide range of applications across various industries such as the food and beverages industry and the perfumes and scents industry. Capric acid has antimicrobial properties, which make it useful in the aforementioned industries, driving the global market for capric acid. It is used in various processing plants such as wineries, breweries, and meat processing, along with finding its application in the pharmaceuticals and textile industries. Capric acid is used for manufacturing artificial flavors and synthetic rubbers as well as being used as a plasticizer for the manufacture of plastics. Owing to the wide range of applications of capric acid, the demand for capric acid is increasing, propelling the global market for capric acid.
While manufacturing body creams and lotions, capric acid is used as an emulsifier and emollient for thickening the formulations of various cosmetic products. Capric acid is used in the manufacture of personal care products because it has lubricating properties and spreads easily. An increase in the usage of personal care products worldwide, coupled with the high usage of capric acid in the food and beverage as well as the chemicals and pharmaceutical industries, is one of the major reasons for the high demand from the capric acid market.
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While the report says that availability of new sources of raw materials can provide a lucrative opportunity for the capric acid market, fluctuation in the prices of the raw materials could be a challenge to the capric acid market’s growth.
The capric acid market has been segmented on the basis of end use and region in the report. The regions included for the purpose of study are Europe, Asia Pacific, North America, Latin America, and the MENA region.
Key companies profiled in the report to help a reader understand the current trends, market competition, and business strategies are: Chemical Associates, KLK OLEO, IOI Oleochemicals, P&G Chemicals, Temix Oleo Srl, Oleocomm Global SDN BHD, HENAN EASTAR CHEMICALS CO., LTD., Ecogreen Oleochemicals, PT Bakrie Sumatera Plantations Tbk., and VVF L.L.C.
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