Global Lauric Acid Market is Projected to Reach 96 million USD by 2024

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The Lauric Acid industry was 68 million USD in 2017 and is projected to reach 96 million USD by 2024, at a CAGR (Compounded Annual Growth Rate) of 2.5% between 2017 and 2024.

The leading companies own the advantages on better performance, more abundant product’s types, better technical and impeccable after-sales service. Consequently, they take the majority of the market share of high-end market. Looking to the future years, the slow downward price trend in recent years will maintain. As competition intensifies, prices gap between different brands will go narrowing. Similarly, there will be fluctuation in gross margin.

The industry is expected to remain innovation-led, with frequent acquisitions and strategic alliances adopted as the key strategies by the players to increase their industry presence. Market stays in mature period with a clear concentration. Meanwhile, optimize product mix and further develop value-added capabilities to maximize margins.

The Global Lauric Acid Market Research Report 2018 report released by QYResearch provides a basic overview of the Lauric Acid industry, including definition, classification, application and industrial chain structure. Discuss development policies and plans as well as manufacturing processes and cost structures.

The report then focuses on major industry players in Global, including company profiles, product images and specifications, sales, market share, and contact information. More importantly, the Lauric Acid industry development trends and marketing channels were analyzed. Providing the main statistical data on the current status of the industry is a valuable guide and direction for companies and individuals interested in the market.

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Market Segment by Regions, regional analysis covers

·        North America

·        Europe

·        China

·        Japan

·        Rest Asia

·        Other

Market Segment Applications, can be divided into

·        Coating

·        Household Chemicals

·        Others

Market Segment by Type, covers

·        ≥99%

·        ≥95%

Lauric Acid Competitive landscape and key vendors

·        Wilmar

·        KLK OLEO

·        IOI Oleochemicals

·        Musim Mas

·        Oleon

·        KAO

·        Permata Hijau

·        Pacific Oleochemicals

·        PT.Cisadane Raya

·        Emery

Lauric acid, also properly known as dodecanoic acid, is a saturated fatty acid commonly found in coconut and palm oils, as well as in milk. Appearing as a white, powdery substance, its main use in manufacturing is as an ingredient in soaps and shampoos. Infants consume it during breastfeeding, and children, teens and adults ingest it by eating the fruits and oils that contain it. Research suggests it can have multiple health benefits because of its antimicrobial properties, but more studies are necessary to confirm initial results.

The global sales volume of lauric acid increases to 466 K MT in 2016 from 416 K MT in 2012, at a CAGR of more than 1.9%. In 2016, the global lauric acid market is led by Asia-Pacific, capturing about 52.8% of global lauric acid sales volume. Europe is the second-largest region-wise market with 21.7% global Share, followed by North America (16.2%).

The Lauric Acid industry was 68 million USD in 2017 and is projected to reach 96 million USD by 2024, at a CAGR (Compounded Annual Growth Rate) of 2.5% between 2017 and 2024.

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 growing demand for Household Chemicals and Coatings which account for nearly 88% of total downstream consumption of lauric acid in global in 2016.

Based on types of lauric acid available in the market, the report segments the market into ≥99% Lauric Acid, 98-99% Lauric Acid, 70-75% Lauric Acid, Other Lauric Acid (92%, 85%, etc.). The market for ≥99% Lauric Acid and 98-99% Lauric Acid accounted for the largest market share in 2016, mainly owing to their high purity.

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