Technavio has announced the top five leading vendors in their recentglobal capric acid market report. This market is expected to grow at a CAGR of close to 7% during the forecast period, according to the research report.
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Technavio has published a new report on the global capric acid market from 2017-2021. (Graphic: Business Wire)
Competitive vendor landscape
According to the research analysis, the global capric acid market is mostly dominated by large global vendors such as Ecogreen Oleochemicals, Henan Eastar Chemicals, Procter & Gamble (P&G), Temix Oleo, and VVF. These players have a vast geographical presence with massive production facilities located globally. Nonetheless, there is a sizeable number of small local and regional vendors with significant shares in the market.
“The major players compete based on innovations, price, and quality of products. Also, the financial, technological, and other resources of the top few suppliers are better than their competitors. These suppliers can withstand changes and adapt to different market conditions,” says Ajay Adhikhari, a lead specialty chemicals research analyst from Technavio.
The report also states that the market for capric acid is growing exponentially due to its high demand from different applications in various end-user industries such as the cosmetics and personal care, food and beverage, and pharmaceutical industries. The high demand for processed and packaged food is also boosting the market for artificial flavors and coloring agents. Demographic changes and consumer awareness about cosmetics and personal care products is expected to impel the market growth for capric acid during the forecast period.
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Technaviochemicals and materials market research analysts identify the following key vendors:
Ecogreen Oleochemicals
The company offers capric acid through its fatty acid segment, which is traded under the brand name Ecoric that is available in a different series. Fatty acids are used in the manufacture of polyol esters for cosmetics, food, personal care products, pharmaceutical, and metalworking. These are used for many other derivatives, which include fatty alcohols, fatty amines, and soaps.
Henan Eastar Chemicals
Henan Eastar Chemicals is engaged in technological developments, production, and sales of food emulsifiers. The company offers capric acid that is widely used to produce esters of capric acid, as spice aids, wetting agents, plasticizers, and food additives.
P&G
P&G offers consumer goods that operate through a variety of products sold under different brand names. The company offers capric acid that is used in synthetic lubricants, refrigeration lubricants, and fire-resistant hydraulic fluids. Fatty acids offered by the company are Halal and Kosher certified as well as RSPO certified mass balanced.
Temix Oleo
Temix manufactures and markets chemical products made from renewable sources. It supports the principle of green chemistry in areas such as lubrication, textile and leather industry, auxiliary industry, production of resins, etc. The company manufactures Acitem 1098, capric acid from renewable resources. It also provides distilled, fractionated, unsaturated, and saturated fatty acids.
VVF
VVF is a multinational company, which manufactures and markets oleochemical and personal care products. The company provides capric acid, which is used in personal care items like soap bars, household items like fabric softeners, industrial applications like lubricants, metal soaps, and other intermediate chemicals. VVF's fatty acids are created from all-vegetable renewable feedstocks of palm and rapeseed.
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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