Lauric Acid Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024

Lauric Acid Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024

  • Transparency Market Research
  • Ongoing
  • Chemicals

Report Description

Lauric acid is a saturated fatty acid naturally occur in many vegetable fats such as coconut and palm kernel oils. It is a white, powdery solid with a faint odor of bay oil or soap. Dodecanoic acid is the systematic name of lauric acid. Lauric acid constitutes a 12-carbon atom chain and thus it is categorized into the medium chain fatty acids. Lauric acid is comparatively inexpensive likewise other fatty acids and remains potent for a longer time which results in a prolonged shelf life.   

Lauric acids finds major application in soaps & detergents and personal care industry. It gets neutralized with sodium hydroxide to give sodium laurate (a popular soap type). On industrial scale, soap manufacturers usually carry out saponification directly from coconut oil rather than procuring lauric acid. Lauric acid is also an important constituent of skin care and hair care products. The U.S. Food and Drug Administration (U.S. FDA) has also listed lauric acid as "Generally Regarded as Safe (GRAS)" for cosmetic applications. The most popular choice of lauric acid in personal care products (including skin care and hair care) include facial cleansers, body washes, shower gels, and shampoos. Lauric acid mixes well with water, and thus forms a homogenous solution. Lauric acid is also used in conjunction with surfactants in a personal care product formulation to increase its efficacy. Lauric acid has also wide application as chemical intermediate and precursor in plastic, lubricants, pharmaceuticals etc. The usage of lauric acid can also be observed in the animal feed industry where it is used as a feed additive to improve the gut and gastrointestinal health.        

Increasing consumerism has spurred the demand for personal care products in recent past and is anticipated to remain a major driving factor for the lauric acid market in the coming year. Moreover, growing awareness about animals (both pet and livestock grown for meat) health has reflected an increase in demand for animal feed additives, most preferably natural derived. Stringent government regulations and intervention in the approval process is one of the major challenges in the market. As, lauric acid is directly used in the formulation of personal care products and animal feed, the manufacturers of these products have to undergo a strict approval before selling them to customers. Innovation in product with respect to formulation provides immense growth opportunity in the market.

Asia Pacific is expected to be the largest consumer of lauric acid primarily due to high demand for soaps and detergents as a result high population concentration. It is also anticipated to be the fastest growing market in the next few years. Economies such as China, India, Indonesia, Malaysia, and other South East Asian countries has witnessed high consumption of lauric acid for soaps & detergents and personal care applications. Additionally, the countries in the regions South America and the Middle East & Africa are showing swift economic growth and thus demand for lauric acid is projected to rise in the near future. North America is matured market in terms of demand for lauric acid; however increasing consumer awareness regarding health and well-being is expected to increase demand for lauric acid in pharmaceutical and personal care application. The steady demand for lauric acid in animal feed, personal care, and soaps & detergents application is expected to be driving factor for the Europe lauric acid market.    

Some key players in the lauric acid market include VVF LLC, Acme-Hardesty, Sensnutrition, Acme Chem, Parchem fine & specialty chemicals, Timur OleoChemicals, Volac Wilmar Feed Ingredients Limited.

The report offers a comprehensive evaluation of the market. It does so via in-depth insights, understanding market evolution by tracking historical developments, and analyzing the present scenario and future projections based on optimistic and likely scenarios. Each research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology developments, types, applications, and the competitive landscape. 

The study is a source of reliable data on:

  • Key market segments and sub-segments
  • Evolving market trends and dynamics
  • Changing supply and demand scenarios
  • Quantifying market opportunities through market sizing and market forecasting
  • Tracking current trends/opportunities/challenges
  • Competitive insights
  • Opportunity mapping in terms of technological breakthroughs 

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, Luxembourg)
  • Eastern Europe (Poland, Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, North Africa) 

TMR estimates the market size of various sectors using a combination of available data on the number and revenue of companies within each sub-sector and tiers of companies. The basic components used to determine market size and forecast for a specific product area are not only limited to supply-side data, but are also related to demand, industry trends, and the economic outlook. All the above data points are utilized to generate a statistical model targeting the sector marketplace. More than 300 TMR analysts across the world integrate these elements into a framework to determine the subsector market size for a base year and then forecast growth within each market. 

TMR regularly interviews technology and business professionals as an ongoing effort to track the latest developments within each sector. These continuous surveys are stratified by company size and industry segment and weighted to reflect the global market place.  All data are collected on an ongoing effort through a structured questionnaire rolled over the web or conducted via telephones. This provides the TMR team opportunities to request for detailed question sets, complex skip patterns, and real-time calculations, which assists respondents in answering questions involving numbers and percentages. Respondents, who are interviewed as experts, are screened and qualified based on certain criteria in addition to their decision-making authority and the scope of activity within their organizations.

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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