Hexanoic Acid Market Size By Regional Analysis(Europe, Asia Pacific, America, Middle East And Africa), By Demand & COVID-19 Impact Analysis, By Type, By Applications And Forecasts 2023 - 2030
Report Overview
The market research report is created with a compilation of analytical research based on historic records, current statistics, and future predictions. The report contains details on the leading players operating in the Hexanoic Acid market including various factors related to and dependent influencing the market growth.
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 2020.
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 2020.
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 2020. 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 2020, with CAGR of 3.84%. Due to raw material price increase, global average Hexanoic Acid price also increase from 2020.
In the future, driven by increasing downstream demand, global consumption will continue to increase at a CAGR of 3.23% during 2019-2030. By 2030, global sales will be 12456 MT.
Global Hexanoic Acid market size will increase to 47 Million US$ by 2030, from 38 Million US$ in 2020, at a CAGR of 2.7% during the forecast period. In this study, 2023 has been considered as the base year and 2023 to 2030 as the forecast period to estimate the market size for Hexanoic Acid.
The report is prepared using analytical methods such as SWOT (strengths, weaknesses, opportunities, and threats)) analysis, PESTEL Analysis, Porter\'s Five Force Analysis, and value chain analysis. These methods provide a clear view of the market structure and analyze competition at a global level. They also provide detailed information on each segment in the global Hexanoic Acid market.
The aim of the report is to interpret the market sizes of various segments and countries for the forecast period. The study includes the qualitative and quantitative analysis of the market. The report analyses the Hexanoic Acid market on a regional and global level with a deep analysis of macro-and micro-economic factors impacting the growth of the market. This report also includes market information related to the latest industry trends, market developments, and analysis of products and end users contributing to market growth. An in-depth study of the current market scenario, major driving factors, and restraining factors for the market are also included in the report.
The Hexanoic Acid market report includes information related to market segmentation, market size and revenue forecasts, and regional forecasts along with information about the leading market players operating in the market, company revenue shares and, their recent developments. The market is classified regionally on country-level into North America, Europe, Asia Pacific, the Middle East and Africa, and South America.
Scope of the Hexanoic Acid Market:
The major competitors working in the market are:
, KLK OLEO, Pacific Oleochemicals, Oleon, Ecogreen Oleochemicals, Musim Mas Holdings, IOI Oleochemical, Hebei Kezheng, Zhengzhou YiBang
Market by Order Type
0.98
0.99
Hexanoic Acid Data by Application
Flavoring and Perfuming Agent
Metal Working Fluid
Daily Chemicals
Others
Hexanoic Acid Production Regions Covered in the Report are:
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Rest of the World
The information about the Hexanoic Acid market is obtained from several sources such as company websites, journals, annual reports, which were then assessed and verified by the industry experts. The information is represented in the form of diagrams, charts, pie charts, and infographics, which helps in a better understanding of the market.
Objectives of Hexanoic Acid Market Report:
- To analyze the factors driving the market growth including supply chain analysis, price analysis along with other analytical methods
- To provide an in-depth analysis of the Hexanoic Acid market with information on various segment and sub-segments
- To provide a regional analysis and global analysis for the Hexanoic Acid market size and their forecasts
- To provide strategic profiles of the key players operating in the Hexanoic Acid market, their key competencies, and market competition
- To provide a competitive scenario about the key factors driving, restraining, and challenging the market growth.
- The impact of COVID-19 pandemic on the Hexanoic Acid market
Target Audiences for Hexanoic Acid Market:
- Investors
- Investment Bankers
- Key Consulting Companies and Advisors
- Venture Capitalists
- Large, Medium-sized, and Small enterprises
Customization:
We also provide customized reports according to customer\'s specific requirements. We also provide customization for regional and country-level reports individually.
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