Hexanoic Acid Market Analysis - Global Industry Size, Share, Trends and Forecast, 2018 - 2026

Category : Chemicals and Materials | Delivery Format : PDF | Status: Forthcoming | Report ID : ARC617

Introduction

Hexanoic acid is a colorless oily liquid derived from hexane and has a wax like cheesy odor resembling to that of goats or other barnyard animals. It is used in production of esters that are required in manufacturing scents and perfumes. Hexanoic acid is used in food and beverage industry due to its antimicrobial properties. It is primarily used in breweries, wineries, and meat processing plants. The salts and esters of this acid are known as hexanoates or caproates.

Market Dynamics

Hexanoic acid is used as an emulsifier and emollient in the manufacturing of creams and body lotions. It also acts as a natural antimicrobial agent. Hexanoic acid assists in thickening cosmetic formulations and delivers lubricating properties. This helps in easy application of solutions on body, thus providing a smooth after-touch. Food and beverage is also one of the major end-user segments of hexanoic acid market. Besides this, pharmaceutical and industrial chemical segments are anticipated to account for a significantly high share in the hexanoic acid market in near future. Increased usage of personal care products across the globe is fueling the demand for hexanoic acid. Currently, a surge in the usage of hexanoic acid in food and beverage, pharmaceutical, and industrial chemicals sector is likely to augment the growth of global hexanoic acid market during the forecast period.

Market Classification

The global hexanoic acid market is segmented based on product type, application, end-user and geography. Based on product type, the market is segmented into 98% hexanoic acid and 99% hexanoic acid. Among these, 99% hexanoic acid segment is expected to hold the majority share in the market owing to its enhanced properties. On the basis of application, the market is segmented into flavoring and perfuming agent, metal working fluid, daily chemicals and others. Among these, the flavoring and perfuming agent segment is expected to drive the market during the forecast period due to increasing consumer preference. In terms of end-user, the market is segmented into food & beverage, industrial chemicals, personal care, pharmaceutical and others (rubber, plastic, etc.). Based on geography, market is divided into North America, Latin America, Europe, Asia-Pacific and Middle East & Africa (MEA). Asia-Pacific is poised to grow rapidly during the forecasted years due to increasing demand from perfume and flavoring industry in this geography.

Report Coverage

Market

Hexanoic Acid Market

Analysis Period

2015 – 2026

Historic Data

2015 – 2016

Base Year

2017

Forecast Data

2018 – 2026

Market Stratification

Product Type, Application, End-user, Geography

Regional Scope

North America, Europe, Asia-Pacific, Latin America, Middle East and Africa (MEA)

Report Coverage

Market Trends, Drivers, Restraints, Porter's Five Forces Analysis, Competitive Analysis,

Player Profiling, Value Chain Analysis

Market Participants

Some of the major players in the global hexanoic acid market include KLK OLEO, Pacific Oleochemicals, Oleon, Ecogreen Oleochemicals, Musim Mas Group, Zhengzhou Yibang, and Hebei Kezheng among others.

Market Segmentation

Market By Type

·         98% Hexanoic acid

·         99% Hexanoic acid

Market By Application

·         Flavoring and Perfuming Agent

·         Metal Working Fluid

·         Daily Chemicals

·         Others

Market By End-user

·         Food & Beverage

·         Industrial Chemicals

·         Personal Care

·         Pharmaceutical

·         Others (Rubber, Plastic, etc.)

Market By Geography

·         North America

o   U.S.

o   Canada

o   Mexico

·         Europe

o   UK

o   Germany

o   France

o   Rest of Europe

·         Asia-Pacific

o   China

o   Japan

o   India

o   Australia

o   Rest of Asia-Pacific

·         Latin America

o   Brazil

o   Rest of Latin America

·         Middle East and Africa (MEA)

o   South Africa

o   Saudi Arabia

o   Rest of MEA


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