Capric acid, also known as decanoic acid, is a medium-chain saturated fatty acid. It is used in several end-user industries due to its wide range of chemical properties. Capric acid is manufactured by wet fractionation of palm kernel oil. Coconut oil is also used in the manufacture of capric acid. Capric acid is used in multiple end-user industries such as food & beverage, industrial chemicals, personal care, pharmaceutical, and others. Capric acid acts as an emulsifier and emollient. It is used in the manufacture of creams and lotions in the personal care industry. Capric acid is also used in the manufacture of artificial flavors in the food & beverage industry. Capric acid acts as an antimicrobial agent. As a result, it is used in commercial food handling. It is primarily used in breweries, wineries, and meat processing plants. Capric acid is also used in textile treatment and manufacture of dyes. Additionally, capric acid is used in the pharmaceuticals industry. It is also useful in the manufacture of synthetic rubber. Capric acid is used as a plasticizer in the manufacture of range of plastics. In addition, it is well-known for manufacturing lubricating grease. Application of capric acid in the personal care industry is likely to boost the capric acid market in the next eight years. Additionally, the usage of capric acid in food & beverage, industrial chemicals, and personal care end-user segments is expected to increase demand for capric acid during the forecast period.
Personal care was the largest end-user segment of the capric acid market, accounting for more than 35% share in 2014. Personal care is also projected to be the fastest developing end-user segment, expanding at a CAGR of nearly 4% between 2015 and 2023. Food & beverage was also one of the largest end-user segments of the capric acid market in 2014, and is expected to expand at a decent pace during the forecast period.
Asia Pacific held the largest share of the market for capric acid in 2014. Growth in the region is ascribed to rising demand from personal care and food & beverage industries. In terms of volume, Asia Pacific accounted for more than 40% share of the global capric acid market in 2014. Personal care is anticipated to be the fastest-growing end-user segment of the capric acid market during the forecast period. Demand for capric acid in the region is estimated to be primarily driven by increase in consumption of capric acid in India, China, and countries in ASEAN. Growth in personal care and food & beverage industries is projected to drive demand for capric acid in Asia Pacific in the next few years. The capric acid market in Latin America and the Middle East & Africa is projected to expand considerably in the next eight years, primarily due to growth in food & beverage and personal care end-user industries. The capric acid market in Europe and North America is projected to witness accountable growth due to recovery from economic slowdown.
The global capric acid market is predominantly driven by increasing demand from personal care and food & beverage end-user industries. However, factors such as fluctuation in raw material prices and availability of application-specific substitutes are projected to hinder growth of the capric acid market in the next few years. Identification of new source of raw material is expected to act as an opportunity for the capric acid market in the next eight years. Key players in the capric acid market include Chemical Associates, Oleocomm Global SDN BHD, KLK OLEO, P&G Chemicals, IOI Oleochemicals, Ecogreen Oleochemicals, HENAN EASTAR CHEMICALS CO., LTD, Temix Oleo Srl, VVF L.L.C, and PT Bakrie Sumatera Plantations Tbk.
This report analyzes and forecasts the market for capric acid at the global and regional level. The market has been forecast based on volume (kilo tons) and revenue (US$ Mn) from 2015 to 2023. The study includes drivers and restraints of the global capric acid market. It also covers the impact of these drivers and restraints on demand for capric acid during the forecast period. The report also highlights opportunities in the capric acid market at the global and regional level.
The report includes a detailed value chain analysis, which provides a comprehensive view of the global capric acid market. Porter’s Five Forces Model for the capric acid market has also been included to help understand the competitive landscape in the market. The study encompasses market attractiveness analysis, wherein end-users are benchmarked based on their market size, growth rate, and general attractiveness.
The study provides a decisive view of the global capric acid market by segmenting it in terms of end-users. These segments have been analyzed based on present and future trends. Regional segmentation includes current and forecast demand in North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The report also covers demand in individual end-user segments in all regions.
The study includes profiles of major companies operating in the global capric acid market. Key players profiled in the report include Chemical Associates, Oleocomm Global SDN BHD, KLK OLEO, P&G Chemicals, IOI Oleochemicals, Ecogreen Oleochemicals, HENAN EASTAR CHEMICALS CO., LTD., Temix Oleo Srl, VVF L.L.C, and PT Bakrie Sumatera Plantations Tbk. Market players are profiled in terms of attributes such as company overview, financial overview, business strategies, and recent developments.
The report provides the estimated market size of capric acid for 2015 and forecast for the next eight years. The global market size of capric acid is provided in terms of both volume and revenue. Market volume is defined in kilo tons, while revenue is in US$ Mn. Market numbers are estimated based on key end-user segments of the capric acid market. Market size and forecast for each major end-user is provided in terms of global and regional markets.
In order to compile the research report, we conducted in-depth interviews and discussions with a number of key industry participants and opinion leaders. Primary research represents the bulk of research efforts, supplemented by extensive secondary research. We reviewed key players’ product literature, annual reports, press releases, and relevant documents for competitive analysis and market understanding. Secondary research includes a search of recent trade, technical writing, Internet sources, and statistical data from government websites, trade associations, and agencies. This has proven to be the most reliable, effective, and successful approach for obtaining precise market data, capturing industry participants’ insights, and recognizing business opportunities.
Secondary research sources that are typically referred to include, but are not limited to company websites, annual reports, financial reports, broker reports, investor presentations, SEC filings, TPE magazine, internal and external proprietary databases, and relevant patent and regulatory databases such as ICIS, Hoover’s, oneSOURCE, Factiva, and Bloomberg, national government documents, statistical databases, trade journals, market reports, news articles, press releases, and webcasts specific to companies operating in the market.
Primary research involves e-mail interactions, telephonic interviews, and face-to-face interviews for each market, category, segment, and sub-segment across geographies. We conduct primary interviews on an ongoing basis with industry participants and commentators to validate the data and analysis. Primary interviews provide firsthand information on market size, market trends, growth trends, competitive landscape, outlook, etc. These help validate and strengthen secondary research findings. These also help develop the analysis team’s expertise and market understanding.
The report segments the global capric acid market as follows:
Capric Acid Market - End-user Analysis
- Food & Beverage
- Industrial Chemicals
- Personal Care
- Others (Rubber, Plastic, etc.)
Capric Acid Market: Regional Analysis
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa (MEA)
- South Africa
- Rest of MEA