Hexanoic Acid Market Size, Share & Industry Analysis, By Type (0.98, 0.99), By Application (Cosmetic Industry, Food Industry, Metal Working Fluid, Daily Chemicals, Others) And Regional Forecast, 2024-2032
KEY INDUSTRY INSIGHTS
Hexanoic acid is also known as caproic acid. It is carboxylic acid which appears as a colorless to pale yellow clear oily liquid. It is derived from hexane and has a fatty, waxy, and cheesy odor resembling that of goats or other barnyard animals. Moreover, the salts and esters of this acid are known as caproates and hexanoates. Hexanoic acid is utilized in the manufacturing of esters, which are required in the production of scents and perfumes. Also, it is highly used in breweries, wineries, and meat processing plants. The product finds its applications in flavoring and perfuming agents, metalworking fluid, and daily chemicals.
The increasing product demand from food and cosmetic industries will aid to fuel the hexanoic acid market growth. In the food industry, the product is highly adopted in brown nuts, brown cocoa, brown coffee, dairy, savory meat, fruity citrus, and sweet. Similarly, in the cosmetics industry, the product is used as a cleansing agent, emulsifying agents, masking agents, perfuming agents, and surfactants. The rapid innovation in the flavors coupled with increasing demand for cosmetic products owing to the changing lifestyle of the people will boost the consumption of hexanoic acid.
However, high product demand causes unavailability sometimes. This limits its use in various applications and is anticipated to hamper the market growth.
Key Market Driver -
The rising demand for the hexanoic acid in the cosmetic and food industries to drive the market growth.
Key Market Restraint -
Unavailability of the product to hamper the market growth
Market Segmentation:
Based on type, the hexanoic acid market is segmented into 0.98 and 0.99. Based on application, the market is segmented into cosmetic industry, food industry, daily chemicals, and others. From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Key Players Covered:
The key players in the hexanoic acid market include KLK OLEO, Pacific Oleochemicals, Oleon, Ecogreen Oleochemicals, Musim Mas Group, Zhengzhou Yibang, Hebei Kezheng, The Good Scents Company (tgsc) ™, Proto Chemicals Industries, KH Neochem Co., Ltd., and Ahepra Healthcare Limited.
Key Insights
- Key Emerging Trends – For Major Countries
- Key Developments: Mergers, Acquisition, Partnership, etc.
- Latest Technological Advancement
- Insights on Regulatory Scenarios
- Porters Five Forces Analysis
Regional Analysis:
Asia Pacific is anticipated to witness the fastest growth in the hexanoic acid market. Here, the consumption of the product can be seen in countries like China, India, and Japan. The high demand is due to its antimicrobial properties. The increasing adoption of the product in the cosmetic industry will fuel the market growth in North America. In Europe, the growth is due to, increasing use of hexanoic acid in the food and beverage industries. The Middle East & Africa is anticipated to witness significant growth, owing to the adoption of the product in the metalworking fluid.
To gain extensive insights into the market, Request for Customization
Segmentation
ATTRIBUTES | DETAILS |
By Type |
|
By Application |
|
By Geography |
|
- Ongoing
- 2023
- 2019-2022
-
Get in Touch with Us
-
US +1 833 909 2966 ( Toll Free )
-
