Over the next five years the Palmitic Acid market will register a 2.5% CAGR in terms of revenue, the global market size will reach US$ 257 million by 2027.
Palmitic Acid Market Overview
Palmitic acid is also known as hexadecanoic acid in the International Union of Pure and Applied Chemistrynomenclature. The Palmitic acid is one of the most common saturated fatty acid found in plants, animals and microorganisms. The chemical formula for Palmitic acid is CH3(CH2)14COOH.Palmitic acid is a saturated fatty acid which is found commonly in plants and animals. It is a primary element in the oils from palm like palm kernel oil, palm oil and coconut oil.As the name suggests, the Palmitic acid is the major component of oil found in meats, dairy products like cheese, butter, coconut oil and Palm Oil. Cosmetics, grease & lubricant and soap & detergent are some of the applications of palmitic acid out of which soap & detergent segment accounts for 49.99% market share which was the largest in 2020.The rising demands from the end use industries like personal care, surfactants, soaps, detergents, food additives and others are playing a major role in fuelling the growth of the global Palmitic acid market. Moreover, growth in end-user industries is predicted to outpour the global Palmitic acid market.According to the World Health Organization (WHO) , palmitic acid raises these LDL levels more than other saturated fats, like stearic acid. They say there is convincing evidence that high consumption of palmitic acid can increase the risk of cardiovascular disease.Palmitic acid benefits the skin by helping to restore the skin's natural barrier function. Fatty acids, including palmitic acid, along with ceramides and cholesterol make up the skin's lipid barrier. Without these essential lipids, the barrier is weakened.
What are the major Applications, Types, and Regions of the Palmitic Acid Market?
The palmitic Acid Market is segmented based on the type, applications, companies and regions.
By Type, Palmitic Acid Market has been segmented into
- Distilled Type
- Fractionated Type
By Applications, Palmitic Acid Market has been segmented into,
- Soap & Detergent
- Cosmetics
- Grease & Lubricant
- Others
Palmitic Acid Market Regional Analysis
The Asia Pacific is considered as the max market for Palmitic acid in terms of consumption. Europe, on the other hand, is another market playing key role in consuming Palmitic Acid.The report offers in-depth assessment of the growth and other aspects of the Palmitic Acid Market in important regions, including the
North America
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- Rest of the World
- Middle East & Africa
- Latin America
Palmitic 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 Palmitic Acid Market report also conducted a PESTEL analysis of the industry to study the main influencing factors and entry barriers of the industry. This Research Study compares the markets of Pre COVID-19 and Post COVID-19 with the impact of COVID-19 on the regional economy.
What is our Palmitic 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 2.5% over the forecast period (2022-2027)
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By Type
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- Distilled Type
- Fractionated Type
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By Application
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- Soap & Detergent
- Cosmetics
- Grease & Lubricant
- Others
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By Companies
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Wilmar International, KLK Oleo, IOI Oleochemical, PT Sumi Asih Oleochemical, PT. Cisadane Raya Chemicals, Shuangma Chemical, VVF, Pacific Oleo, Twin Rivers Technologies, PT. Musim Mas, Cailà & Parés, PMC
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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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116
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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 Palmitic Acid Report
- Evaluate Palmitic 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 Palmitic 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 study period of this market?
The Palmitic Acid Market is studied from 2017 - 2027.
What is the growth rate of Palmitic Acid Market?
The Palmitic Acid Market is growing at a CAGR of 5.2% over the next 5 years.
What regions does this Palmitic Acid Market report covers?
North America (the United States, Canada, and Mexico)
Europe (Germany, France, UK, Russia, and Italy)
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
South America (Brazil, Argentina, Colombia, etc.)
The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)
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.