Capric Acid Market to reach US $302.8 Million globally by 2021
Deerfield Beach, FL -- (SBWIRE) -- 09/02/2016 -- Zion Research has published a new report titled "Global Capric Acid Market for Artificial Fruit Flavors and Perfumes, Pharmaceuticals and Chemical Syntheses (Lubricants, Greases, Rubber, Dyes, Plastics, etc.), 2014 - 2020." According to the report, global demand for capric acid was valued at USD 192.5 million in 2014 and is expected to generate revenue of USD 302.8 million by end of 2020, growing at a CAGR of 7.8% between 2015 and 2020. In terms of volume, the global capric acid market stood at 70,000.0 tons in 2014.
Capric acid is also called decanoic acid. It is the saturated fatty acid with a chain of 10 carbon atoms. It is used in the production of perfumes, lubricants, greases, rubber, dyes, plastics, food additives and medicines. Capric acid is used as an intermediate in chemical syntheses. It is used in organic synthesis and industrially in the manufacture of perfumes, lubricants, greases, rubber, dyes, plastics, food additives and pharmaceuticals. Decanoate ester prodrugs of various pharmaceuticals are available. Since, capric acid is a fatty acid, forming a salt or ester with a drug will increase its lipophilicity and its affinity for fatty tissue. Since, distribution of a drug from fatty tissue is usually slow, one may develop a long-acting injectable form of a drug (called a Depot injection) by using its decanoate form. Some examples of drugs available as a decanoate ester include nandrolone, fluphenazine, bromperidol, and haloperidol.
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Capric acid is used in the manufacture of perfumes, lubricants, greases, rubber, dyes, plastics, artificial flavorings in food, and pharmaceuticals. Capric acid is also used as an intermediate in chemical syntheses. The natural antimicrobial properties of capric acid make it useful as a sanitizer for food contact surfaces and equipment. Flavors and perfumes was second largest application market for capric acid in 2014. Chemical synthesis was the largest market for capric acid in 2014. Capric acid is used as an intermediate in the manufacturing of lubricants, greases, rubber, dyes and plastics. Demand for capric acid for chemical synthesis is expected to grow at second fastest CAGR during the forecast period.
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Asia Pacific was the most dominant regional market capric acid in 2014 and accounted for around 36% share in the total consumption. Asia Pacific is expected to exhibit the fastest growth rate during the forecast period. It is expected to increase in its market share by 0.96% by the end of 2020. Europe was the second leading regional market for capric acid in 2014, followed by North America.
Some of the leading manufacturers and suppliers of the capric acid includes Chemical Associates Inc., Oleocomm International Ltd., Acidchem International Sdn. Bhd, Bcogreen Oleochemicals (Singapore) Pte Ltd, Henan Eastar Chemicals Co. Ltd, and Chemceed. Companies are mainly focused on capacity expansion owing to increasing demand for capric acid.
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Global Capric Acid Market: Application Segment Analysis
-Artificial fruit flavors and perfumes
-Chemical syntheses (Lubricants, greases, rubber, dyes, plastics, etc.)
Global Capric Acid Market: Regional Segment Analysis
-Rest of the World
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