Lauric Fatty Acids Market Scope
Lauric fatty acid is naturally found in coconut oil which mainly consists of approximately 12-carbon atoms chain. Lauric fatty acid is a solid at room temperature but melts easily in boiling water. A lauric fatty acid is inexpensive, non-toxic and has a longer shelf-life and hence has a wide range of applications in many end-use industries. Growth in various industries such as pharmaceuticals, cosmetics, healthcare, etc. expected to drive the demand for lauric fatty acid over the forecasted period.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Oleon NV (Malaysia), Cayman Chemical Company (United States), Caila & Pares (Spain), Kao Corporation (Japan), KLK OLEO ( Malaysia), Mitsui & Co., Ltd. (Japan), Acmechem Limited (India) and Parchem fine & specialty chemicals (United States) |
CAGR | % |
Research Analyst at AMA estimates that Malaysia Vendors will contribute to the maximum growth of Global Lauric Fatty Acids market throughout the predicted period.
Oleon NV (Malaysia), Cayman Chemical Company (United States), Caila & Pares (Spain), Kao Corporation (Japan), KLK OLEO ( Malaysia), Mitsui & Co., Ltd. (Japan), Acmechem Limited (India) and Parchem fine & specialty chemicals (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Timur Oleochemiacls Malaysia Sdn.Bhd. ( Malaysia) and Konimpex (Poland).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Lauric Fatty Acids market by Type , by Application (Facial Cleansers, Body Washes, Shower Gels and Shampoo) and Region with country level break-up.
On the basis of geography, the market of Lauric Fatty Acids has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In June Mitsui & Co., Ltd. has decided, and agreed with Celanese Corporation ("Celanese"), a leading American chemical company, to acquire a 70% stake in its wholly owned subsidiary Nutrinova Netherlands B.V. ("Nutrinova"), which manufactures and sells functional food ingredients, and concluded related agreements.
In January 2019, Acme-Hardesty, a division of Jacob Stern and Sons, Inc. and an industry leader in sustainable specialty ingredients, has entered into a distribution agreement with Eckart, a manufacturer of pearlescent and metallic pigments and rheological additives. Acme-Hardesty will be Eckart’s channel partner for the personal care market across the United States for the Eckart and BYK product ranges, and channel partner for the BYK product range in Canada.
Influencing Trend:
Increasing R&D in Lauric Fatty Acid Product
Market Growth Drivers:
Growing pharmaceutical and healthcare industries is driving the lauric fatty acid market. Also, due to the low toxicity, it is widely used in the cosmetic industry to manufacture a range of shampoos and soaps. Along with this, a lauric fatty acid used as a vegetable shortening which is attracting the buyers in huge amounts.
Challenges:
Stringent Government Regulations and Intervention in the Approval Process
Restraints:
Lack of Awareness in Underdeveloped Nations
Opportunities:
Innovation in Product with Respect to Formulation and Growth in the Cosmetic Industry in Developing Countries
Key Target Audience
Lauric Fatty Acids Manufacturers, Lauric Fatty Acids Suppliers/Distributors, Raw Material Suppliers, Potential Investors and Research and Development Organization