The global Hexanoic Acid market is valued at USD 40.8 million in 2020. The market will increase at a CAGR of 3.3% from 2022 to 2027, reaching USD 48.9 million by the end of 2027.
Hexanoic Acid Market Overview
Hexanoic acid is also known as caproic acid. It is a colorless to light yellow clear oily liquid that is a carboxylic acid. It is made from hexane and has a greasy, waxy, and cheesy odor that is similar to that of goats or other farm animals. Caproates and hexanoates are the names for the salts and esters of this acid. Hexanoic acid is used to make esters, which are necessary in the manufacture of fragrances and odors. Breweries, wineries, and meat processing factories all use it extensively. Flavoring and perfuming agents, metalworking fluid, and everyday chemicals all use the product.
Hexanoic acid market expansion would be aided by rising product demand from the food and cosmetics industries. Brown nuts, brown chocolate, brown coffee, dairy, savoury meat, fruity citrus, and sweet are all popular uses for the product in the culinary sector. Similarly, the product is utilized as a cleansing agent, emulsifying agent, masking agent, perfuming agent, and surfactant in the cosmetics business. Hexanoic acid use will be boosted by rapid flavor innovation along with rising demand for cosmetic items due to people's changing lifestyles.
What are the major Applications, Types, and Regions of the Hexanoic Acid Market?
Hexanoic Acid Market is segmented based on the type, applications, companies, and regions.
By Type, Hexanoic Acid Market has been segmented into
By Application, Hexanoic Acid Market has been segmented into
- Flavoring and Perfuming Agent
- Metal Working Fluid
- Daily Chemicals
- Others
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 hexanoic acid market is expected to develop at the quickest rate in Asia Pacific. China, India, and Japan are among the countries where the product is consumed. Its antibacterial characteristics account for the great demand. The market in North America will rise as the product becomes more widely used in the cosmetics industry. The increased usage of hexanoic acid in the food and beverage industries is driving expansion in Europe. Because of the product's usage in the metalworking fluid, the Middle East and Africa are expected to see significant growth.
Hexanoic Acid Market highlights the potential growth opportunities in upcoming years, while reviewing the market drivers, restraints, growth indicators, challenges, market dynamics, competitive landscape and other key aspects in the global market. The Global Hexanoic Acid Market report also conducted a PESTEL analysis of the industry to study the main influencing factors and entry barriers of the industry.
What is our Hexanoic Acid Market report scope?
Report Attributes
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Report Details
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Forecast Period 2022 to 2027 CAGR
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CAGR of 3.3% over the forecast period (2022-2027)
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By Type
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By Application
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- Flavoring and Perfuming Agent
- Metal Working Fluid
- Daily Chemicals
- Others
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By Companies
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KLK OLEO, Pacific Oleochemicals, Oleon, Ecogreen Oleochemicals, Musim Mas Holdings, IOI Oleochemical, Hebei Kezheng, Zhengzhou YiBang
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Regions Covered
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- North America
- Europe
- Asia-Pacific
- Rest of the World
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Countries Covered
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- US
- Canada
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
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Base Year
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2022
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Historical Year
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2017 to 2021
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Forecast Year
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2022 to 2027
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Number of Pages
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90
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Customization Available
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Yes, the report can be customized as per your needs
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Key Takeaways from this Hexanoic Acid Report
- Evaluate Hexanoic Acid market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, end use applications and by different industry verticals.
- Understand the different dynamics influencing the market - key driving factors, challenges and hidden opportunities.
- Get in-depth insights on your competitor performance - market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.
- Analyze the sales and distribution channels across key geographies to improve top-line revenues.
- Understand the industry supply chain with a deep dive on the value augmentation at each step, in order to optimize value and bring efficiencies in your processes.
- Get a quick outlook on the Hexanoic Acid market entropy - M&A's, deals, partnerships, product launches of all key players for the past 4 years.
- Evaluate the supply-demand gaps, import-export statistics and regulatory landscape for more than top 20 countries globally for the market.
Frequently Asked Questions
What is the growth rate of Hexanoic Acid Market?
The Hexanoic Acid Market is growing at a CAGR of 3.3% over the next 5 years.
Who are the key players in Hexanoic Acid Market?
KLK OLEO, Pacific Oleochemicals, Oleon, Ecogreen Oleochemicals, Musim Mas Holdings, IOI Oleochemical, Hebei Kezheng, Zhengzhou YiBang
What are the significant types of Hexanoic Acid Market?
0.98, 0.99
What are the major end-use applications of Hexanoic Acid Market?
Flavoring and Perfuming Agent, Metal Working Fluid, Daily Chemicals, Others
All our reports are customizable to your company needs to a certain extent, we do provide 5 free consulting hours along with purchase of each report, and this will allow you to request any additional data to customize the report to your needs.
SECONDARY RESEARCH
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
PRIMARY RESEARCH
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
MARKET ENGINEERING
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
EXPERT VALIDATION
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.
