Hexanoic acid (caproic acid) is a short chain fatty acid, which is found in various plant oils including palm oil and coconut oil, and animal fats such as cow and goat milk.
The primary use of hexanoic acid is in the manufacture of its esters for artificial flavors, and in the manufacture of hexyl derivatives, such as hexylphenols.
During all applications, flavoring and perfuming agent is the largest consumption field which consumed 4319 MT in 2017.
Major raw material of hexanoic acid is palm oil. So, major production bases are in Malaysia and Indonesia. Global major suppliers include KLK OLEO, Pacific Oleochemicals, Oleon, Ecogreen Oleochemicals, Musim Mas Holdings, Hebei Kezheng, Zhengzhou YiBang and IOI Oleochemical. KLK OLEO is market leader in this industry with sales of 1672 MT in 2017.
Major consumption regions of hexanoic acid are China, North America, Europe and Southeast Asia. Europe is the largest consumption region which consumed 3229 MT in 2017. Southeast Asia and China separately is the second and third largest consumption region.
During past five years, global consumption increased from 8633 MT in 2013 to 10036 MT in 2017, with CAGR of 3.84%. Due to raw material price increase, global average Hexanoic Acid price also increase from 2017.
In the future, driven by increasing downstream demand, global consumption will continue to increase at a CAGR of 3.23% during 2019-2024. By 2024, global sales will be 12456 MT.
According to this study, over the next five years the Hexanoic Acid market will register a 2.9% CAGR in terms of revenue, the global market size will reach US$ 45 million by 2024, from US$ 38 million in 2019. In particular, this report presents the global market share (sales and revenue) of key companies in Hexanoic Acid business, shared in Chapter 3.
This report presents a comprehensive overview, market shares, and growth opportunities of Hexanoic Acid market by product type, application, key manufacturers and key regions and countries.
This study considers the Hexanoic Acid value and volume generated from the sales of the following segments:
Global Hexanoic Acid Market report features the major aspect of the market in terms of historic data, current market situations, market demand along with detailed analysis of the key players involved in the market.Hexanoic Acid Industry report also provides essential attributes associated with Hexanoic Acid market and act an essential tool to companies active across the value chain and to the newcomer by enabling them to capitalize the opportunities and develop business strategies.
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Global Hexanoic Acid Market focuses on the, especially in North America, Europe and Asia-Pacific, South America, Middle East and Africa.Hexanoic Acid business report categorizes the market based on manufacturers, regions, type and application. From a global perspective, this report represents Hexanoic Acid market in-depth outlook by analyzing historical statistics and future prospect.
TOP MOST PLAYERS:
Musim Mas Holdings
Market Segment by Type, covers:
Market Segment by Applications, can be divided into:
Flavoring and Perfuming Agent
Metal Working Fluid
The prospective of this Hexanoic Acid industry study delivers the key industry dynamic with respect to driving & limiting factors with their current and expected impact on market growth. Moreover, Hexanoic Acid present market share and future prospects of the segment in terms of has also been explored in this report.
Global Hexanoic Acid market report showcases qualitative and quantitative estimation by industry analysts, first-hand data, and assistance from industry experts along with each industry manufacturers by the market valuation. Hexanoic Acid report also gives extensive analysis of market share, latest industry trends and forecast data analysis with respect to sales revenue, market growth, and demand and supply scenario.
Conclusively, the Hexanoic Acid Market report provides major statistics on the state of the industry also it is considered as an essential source of guidance and direction for businesses and individuals involved in the market.