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Global Capric Acid Market 2019 by Manufacturers, Regions, Type and Application, Forecast to 2024
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Global Capric Acid Consumption Had Increased From 54448 MT In 2014 To 62584 MT In 2018
Capric acid is a short-chain, saturated acid occurring naturally in palm and coconut oils, as well as certain types of milk. It is used for a variety of industrial and manufacturing processes. Also known as C10 fatty acid and decanoic acid, capric acid is commonly derived from both vegetable and animal sources.
Capric acid is used as a raw material for production of alkyl chlorides for agricultural products, methyl caprylate/caprate, fatty alcohols, acid chlorides, fatty acid isethionates, metallic soaps, fatty acid sarcosinates, imidazolines, fatty amines, caprylic capric triglyceride (MCT oil), polyol esters as lubricant in metal working and emollient in personal care products, oxazolines for paint binder ; Used in herbicide, animal feed, corrosion/rust inhibitors for antifreeze, flotation agents in mining, creams and lotions formulations, plasticizers etc. Daily chemicals is the largest consumption field of capric acid, which consumed about 38.75% in 2018.
Capric acid is mainly produced by palm oil and coconut oil, which are mainly produced in Southeast Asia region. So, global major capric acid suppliers are also based in Southeast Asia. In this report, we mainly research 13 suppliers such as KLK OLEO, Musim Mas, IOI Oleochemical, Permata Hijau Group, Emery Oleochemicals, Pacific Oleochemicals, Wilmar, P&G Chemicals, VVF LLC, Ecogreen Oleochemicals, Bakrie Sumatera Plantations, Kao Chemicals and Temix etc. KLK OLEO is market leader in this industry, which produced 6126 tons capric acid, with a production share of 9.79% in 2018.
Global major production regions include SEA, USA, Europe, China and Japan etc. SEA is the largest production region, whose production increased from 39509 MT in 2014 to 45216 MT in 2018. China and Europe is separately the second and third largest production region, with production share of 9.85% and 8.03% in 2018 separately.
Driven by increasing downstream demand, global capric acid consumption had increased from 54448 MT in 2014 to 62584 MT in 2018, with a CAGR of 3.54%. In the future, we predict global demand will be 79552 MT in 2025.
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