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Global Hexanoic Acid Market Research Report 2020
SKU ID : QYR-15059112 | Publishing Date : 08-Jan-2020 | No. of pages : 90
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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.
Market Analysis and Insights: Global Hexanoic Acid Market
The global Hexanoic Acid market is valued at 40 million US$ in 2020 is expected to reach 48 million US$ by the end of 2026, growing at a CAGR of 2.7% during 2021-2026.
Global Hexanoic Acid Market: Drivers and Restrains
The research report has incorporated the analysis of different factors that augment the market’s growth. It constitutes trends, restraints, and drivers that transform the market in either a positive or negative manner. This section also provides the scope of different segments and applications that can potentially influence the market in the future. The detailed information is based on current trends and historic milestones. This section also provides an analysis of the volume of production about the global market and also about each type from 2015 to 2026. This section mentions the volume of production by region from 2015 to 2026. Pricing analysis is included in the report according to each type from the year 2015 to 2026, manufacturer from 2015 to 2020, region from 2015 to 2020, and global price from 2015 to 2026.
A thorough evaluation of the restrains included in the report portrays the contrast to drivers and gives room for strategic planning. Factors that overshadow the market growth are pivotal as they can be understood to devise different bends for getting hold of the lucrative opportunities that are present in the ever-growing market. Additionally, insights into market expert’s opinions have been taken to understand the market better.
Market Segment Analysis
The research report includes specific segments by Type and by Application. Each type provides information about the production during the forecast period of 2015 to 2026. Application segment also provides consumption during the forecast period of 2015 to 2026. Understanding the segments helps in identifying the importance of different factors that aid the market growth.
Segment by Type
0.98
0.99
Segment by Application
Flavoring and Perfuming Agent
Metal Working Fluid
Daily Chemicals
Others
Global Hexanoic Acid Market: Regional Analysis
The report offers in-depth assessment of the growth and other aspects of the Hexanoic Acid market in important regions, including the U.S., Canada, Germany, France, U.K., Italy, Russia, China, Japan, South Korea, Taiwan, Southeast Asia, Mexico, and Brazil, etc. Key regions covered in the report are North America, Europe, Asia-Pacific and Latin America.
The report has been curated after observing and studying various factors that determine regional growth such as economic, environmental, social, technological, and political status of the particular region. Analysts have studied the data of revenue, production, and manufacturers of each region. This section analyses region-wise revenue and volume for the forecast period of 2015 to 2026. These analyses will help the reader to understand the potential worth of investment in a particular region.
Global Hexanoic Acid Market:
This section of the report identifies various key manufacturers of the market. It helps the reader understand the strategies and collaborations that players are focusing on combat competition in the market. The comprehensive report provides a significant microscopic look at the market. The reader can identify the footprints of the manufacturers by knowing about the global revenue of manufacturers, the global price of manufacturers, and production by manufacturers during the forecast period of 2015 to 2019.
The major players in the market include KLK OLEO, Pacific Oleochemicals, Oleon, Ecogreen Oleochemicals, Musim Mas Holdings, IOI Oleochemical, Hebei Kezheng, Zhengzhou YiBang, etc.
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.
Market Analysis and Insights: Global Hexanoic Acid Market
The global Hexanoic Acid market is valued at 40 million US$ in 2020 is expected to reach 48 million US$ by the end of 2026, growing at a CAGR of 2.7% during 2021-2026.
Global Hexanoic Acid Market: Drivers and Restrains
The research report has incorporated the analysis of different factors that augment the market’s growth. It constitutes trends, restraints, and drivers that transform the market in either a positive or negative manner. This section also provides the scope of different segments and applications that can potentially influence the market in the future. The detailed information is based on current trends and historic milestones. This section also provides an analysis of the volume of production about the global market and also about each type from 2015 to 2026. This section mentions the volume of production by region from 2015 to 2026. Pricing analysis is included in the report according to each type from the year 2015 to 2026, manufacturer from 2015 to 2020, region from 2015 to 2020, and global price from 2015 to 2026.
A thorough evaluation of the restrains included in the report portrays the contrast to drivers and gives room for strategic planning. Factors that overshadow the market growth are pivotal as they can be understood to devise different bends for getting hold of the lucrative opportunities that are present in the ever-growing market. Additionally, insights into market expert’s opinions have been taken to understand the market better.
Market Segment Analysis
The research report includes specific segments by Type and by Application. Each type provides information about the production during the forecast period of 2015 to 2026. Application segment also provides consumption during the forecast period of 2015 to 2026. Understanding the segments helps in identifying the importance of different factors that aid the market growth.
Segment by Type
0.98
0.99
Segment by Application
Flavoring and Perfuming Agent
Metal Working Fluid
Daily Chemicals
Others
Global Hexanoic Acid Market: Regional Analysis
The report offers in-depth assessment of the growth and other aspects of the Hexanoic Acid market in important regions, including the U.S., Canada, Germany, France, U.K., Italy, Russia, China, Japan, South Korea, Taiwan, Southeast Asia, Mexico, and Brazil, etc. Key regions covered in the report are North America, Europe, Asia-Pacific and Latin America.
The report has been curated after observing and studying various factors that determine regional growth such as economic, environmental, social, technological, and political status of the particular region. Analysts have studied the data of revenue, production, and manufacturers of each region. This section analyses region-wise revenue and volume for the forecast period of 2015 to 2026. These analyses will help the reader to understand the potential worth of investment in a particular region.
Global Hexanoic Acid Market:
Competitive Landscape
This section of the report identifies various key manufacturers of the market. It helps the reader understand the strategies and collaborations that players are focusing on combat competition in the market. The comprehensive report provides a significant microscopic look at the market. The reader can identify the footprints of the manufacturers by knowing about the global revenue of manufacturers, the global price of manufacturers, and production by manufacturers during the forecast period of 2015 to 2019.
The major players in the market include KLK OLEO, Pacific Oleochemicals, Oleon, Ecogreen Oleochemicals, Musim Mas Holdings, IOI Oleochemical, Hebei Kezheng, Zhengzhou YiBang, etc.
Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
- By product type
- By End User/Applications
- By Technology
- By Region
The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
