Global Lauric Acid Market Will Reach USD 702 Million by 2026
The global Lauric Acid market is estimated to be USD 603 million in 2019 and is expected to reach USD 702 million by 2026, with a CAGR of 2.2% during the forecast period.
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.
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Key Players:
Leading companies have the advantages of better performance, richer product types, better technology, and impeccable after-sales service. Therefore, they occupy most of the market share in the high-end market. Looking forward to the next few years, the slowly declining price trend in recent years will remain unchanged. As competition intensifies, the price gap between different brands will narrow. Similarly, the gross profit margin will fluctuate.
Key players in the Lauric Acid market include Wilmar, KLK OLEO, IOI Oleochemicals, Musim Mas, Oleon, KAO, Permata Hijau, Pacific Oleochemicals, PT. Cisadane Raya, Emery, PT. SUMI ASIH, Bakrie Group, SOCI, Godrej Industries, AAK, VVF, Sensnutrition, Acme Chem, Parchem fine & specialty chemicals, Timur OleoChemicals, Volac Wilmar Feed Ingredients, and etc.
It is expected that the industry will continue to be dominated by innovation, and frequent acquisitions and strategic alliances will become key strategies for participants to increase their influence in the industry. The market stays in a mature period of definite concentration. At the same time, optimize the product mix, further develop value-added capabilities and maximize profit margins.
Market Driver and Restraint
The factors that fuel the growth of the Lauric Acid Market include increasing demand, industrialization, and urbanization. Besides, a wide range of applications such as in soaps, shampoos, acne fighter, etc. also significantly fuel the market growth. On the flip side, there are also factors that may hamper the growth of the market such as strict government regulations.
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Forecast by Geography
From a geographical perspective, the global lauric acid market is spread across North America, Asia-Pacific, Europe, Latin America, and the Middle East & Africa. The North American region consists of the U.S., and Canada. The European region consists of Germany, Italy, France, England, Spain, Poland, and Russia. Asia Pacific region consists of China, India, ASEAN, Australia & New Zealand. Latin America region consists of Mexico and Brazil. The Middle East and Africa region consist of GCC, South Africa, and North Africa.
In 2018, the global lauric acid market is led by Asia-Pacific, capturing about 36% of global lauric acid sales volume. North America is the second-largest region-wise market with 33% global Share, followed by Europe (21%). The Asia-Pacific will occupy for more market share in the following years, especially in China, also fast-growing India and Southeast Asia regions. North America, especially The United States, will still play an important role which cannot be ignored. Any changes from the United States might affect the development trend of Lauric Acid. Europe also plays important roles in the global market, with market size of USD 128 million in 2016 and will be USD 134 million in 2022, with a CAGR of 0.73%.
Type Segment Analysis
Important types of the product covered in this report include ≥99%, ≥95%, and Other. The market for ≥99% Lauric Acid accounted for the largest market share in 2016, mainly owing to their high purity.
Application Segment Analysis
Lauric acid downstream is wide and recently lauric acid has acquired increasing significance in various fields of Coatings, Household Chemicals, and Other Applications. Globally, the lauric acid market is mainly driven by the growth in demand for household chemicals and coatings. In 2016, household chemicals and coatings will account for nearly 87% of the total consumption of lauric acid downstream in the world.
Target Audience:
• Lauric Acid manufacturers
• Raw material suppliers of Lauric Acid
• Small and Medium-sized Enterprises (SMEs)
• Distributors and resellers of Lauric Acid
• Lauric Acid industry associations
• Product managers, Lauric Acid industry administrator, C-level executives of the industries
• Market Research and consulting firms
Table of Content
1 Report Overview
1.1 Product Definition and Scope
1.2 PEST (Political, Economic, Social and Technological) Analysis of Lauric Acid Market
…
2 Market Trends and Competitive Landscape
3 Segmentation of Lauric Acid Market by Types
4 Segmentation of Lauric Acid Market by End-Users
5 Market Analysis by Major Regions
6 Product Commodity of Lauric Acid Market in Major Countries
7 North America Lauric Acid Landscape Analysis
8 Europe Lauric Acid Landscape Analysis
9 Asia Pacific Lauric Acid Landscape Analysis
10 Latin America, Middle East & Africa Lauric Acid Landscape Analysis
11 Major Players Profile
11.1 Wilmar
11.1.1 Wilmar Company Profile and Recent Development
11.1.2 Market Performance
11.1.3 Product and Service Introduction
11.2 KLK OLEO
11.3 IOI Oleochemicals
11.4 Musim Mas
11.5 Oleon
11.6 KAO
11.7 Permata Hijau
11.8 Pacific Oleochemicals
11.9 PT.Cisadane Raya
11.10 Emery
11.11 PT. SUMI ASIH
11.12 Bakrie Group
11.13 SOCI
11.14 Godrej Industries
11.15 AAK
11.16 VVF
11.17 Sensnutrition
11.18 Acme Chem
11.19 Parchem fine & specialty chemicals
11.20 Timur OleoChemicals
…
Base Year: 2018
Estimated Year: 2019
Forecast Period: 2019 to 2026
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