Research Nester published a report titled “Dodecanoic Acid Market: Global Demand Analysis & Opportunity Outlook 2031” which delivers detailed overview of the global dodecanoic acid market in terms of market segmentation by type, application, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global dodecanoic acid market is estimated to grow at a CAGR of ~10% over the forecast period, i.e., 2022 – 2031. The market is segmented on the basis of application into pharmaceutical, cosmetics, chemical research, and others, out of which, the cosmetics segment is anticipated to gain a substantial share in the market over the forecast period, owing to the increasing demand for personal care and cosmetic products. Moreover, the rising consumerism, self-care trends, and rising individual disposable income globally, is projected to boost the segment growth. For instance, the cosmetic industry generated a revenue of around USD 90 billion, in 2020.
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The global dodecanoic acid market is anticipated to witness growth on the back of increasing demand of dodecanoic acid or lauric acid in the cosmetic, and pharmaceutical industries. The growing use of lauric acid for manufacturing soaps and shampoos is anticipated to drive the market growth. Moreover, increasing use of the acid for making drugs and medicines for cardiovascular diseases, is projected to boost the market growth.
On the basis of geographical analysis, the global dodecanoic acid market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the Asia Pacific region is estimated to grow significantly over the forecast period on the back of the growing cosmetic industry in the region. Moreover, presence of a sizeable chemical industry in the region is also anticipated to boost the market growth. In fact, Asia accounted for more than 56% share of the global chemical industry revenue, in 2020.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Growing Demand for Cosmetics with Dodecanoic Acid to boost the Market Growth
A wide range of cosmetic products, ranging from soaps, facial cleaners, to shampoos and shower gels, contain lauric acid as an essential component. Lauric acid is reacted with sodium hydroxide, which produces sodium laurate, which is a soap. The growing demand for personal care and cosmetic products among consumers, backed by the growing self-care awareness amongst the people, is estimated to boost the market growth.
However, the increasing competition from herbal cosmetics is expected to operate as key restraint to the growth of global dodecanoic acid market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global dodecanoic acid market which includes company profiling of Croda International plc, Agarwal Industries Private Limited, ExcelVite Sdn. Bhd., Wilmar International Limited, Oleon NV, Kao Corporation, Timur Oleochemical, Lascaray S.A., Kraton Performance Polymers, and Inc, Chemol Company Inc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global dodecanoic acid market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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