Palmitic acid is also known as hexadecanoic acid in the International Union of Pure and Applied Chemistrynomenclature. The Palmitic acid is one of the most common saturated fatty acid found in plants, animals and microorganisms. The chemical formula for Palmitic acid is CH3(CH2)14COOH. As the name suggests, the Palmitic acid is the major component of oil found in meats, dairy products like cheese, butter, coconut oil and Palm Oil. The salts and esters of Palmitic acid are called Palmitate. The Palmitic acid is used in production of various esters, metallic soaps, fatty amines, fatty alcohols, oxazolines for paint binder, surfactants in cosmetics, liquid and transparent soaps and use in agricultural chemicals and food etc. The largest application of Palmitic Acid is used in making soaps and detergents.
Global Palmitic Acid Market: Region-Wise Outlook
They key regions which produce Palmitic acid complexes include Malaysia, Germany, China and Indonesia. These regions are known for producing high quality sustainable Palmitic acid from natural renewable raw materials. The Asia Pacific is considered as the largest market for Palmitic acid in terms of consumption. Europe, on the other hand, is another market playing key role in consuming Palmitic Acid.
Global Palmitic Acid Market: Drivers
The extensive use of soaps and detergents are the key factors driving the growth of the global Palmitic acid market. The increasing demands from the end use industries like personal care, surfactants, soaps, detergents, food additives and others are playing a major role in fuelling the growth of the global Palmitic acid market. Moreover, growth in end-user industries is predicted to outpour the global Palmitic acid market. Further, increasing cleansing methods adopted by various industries is sweeping up the growth of global Palmitic acid market.
Global Palmitic Acid Market: Restraints
Decrease in use of hard soaps and detergents is in turn decreasing the growth of the global Palmitic acid market. Further, changing preference of manufacturers from animal based raw materials to vegetable based raw materials is a challenge to the global Palmitic acid market. Moreover, rising awareness about animal fatty acids is tending the global Palmitic acid market to decline down the line.
Global Palmitic Acid Market: Key Players
The major companies involved in the manufacturing and production of Palmitic acid are AkzoNobel N.V., H. Foster and Company Ltd., BASF SE, Baerlocher GmBH, Emery Oleochemicals, VVF LLC and Vantage Speciality Chemicals, Inc., Harima Chemicals Group Inc., Meadvestvaco corporation, Forchem Oy, Acme-Hardesty, Pacific Oleo, KLK, IOI Oleochemicals, Emery Oleochemicals, Zouping Fuhai, Zibo Kehong, Acme Synthetic Chemicals and others.
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The global Palmitic acid market can be segmented on the basis of regions, contents and applications.
On account of regions, the global Palmitic acid market can be segmented into
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
On account of contents, the global Palmitic acid market can be segmented into
- Capacity and Production Volumes
- Raw Materials
- Consumption Structure
- Export and Import
- Consumers etc.
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