Dodecanoic Acid Market size is poised to reach USD 1 Billion by the end of 2036, growing at a CAGR of 14% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of dodecanoic acid was USD 165 Million. The reason behind the growth is impelled by the growing burden of cardiovascular diseases across the globe which are usually brought on by several risk factors, including low-density lipoprotein (LDL) cholesterol, diabetes, high blood pressure, smoking, secondhand smoke exposure, obesity, poor diet, physical inactivity. Moreover, dodecanoic acid is used to treat cardiovascular diseases, as it can potentially increase the secretion of LDL (good cholesterol) in the body. For instance, the number of CVD-related deaths worldwide rose from around 12 million in 1990 to more than 19 million in 2022.
The growing awareness regarding personal hygiene is believed to fuel the market growth. Globally, people's everyday knowledge of hygiene has altered owing to social media awareness, and different health education efforts run by healthcare facilities, which help to clarify the relationship between general health and personal cleanliness.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
~14% |
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Base Year Market Size (2023) |
~ USD 165 Million |
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Forecast Year Market Size (2036) |
~ USD 1 Billion |
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Regional Scope |
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Application (Food & Beverage, Textile, Pharmaceutical, Chemical, Cosmetics)
The cosmetics segment in the dodecanoic acid market is estimated to gain a robust revenue share of 45% in the coming years owing to the growing sales of beauty and skin care products. For instance, the skincare, fragrance, cosmetics, and haircare segments of the global beauty market brought in about USD 425 billion in revenue in 2022. Particularly, the number of beauty orders increased by over 12%, while Indian consumers' willingness to pay increased by over 1% for cosmetics and self-care. The skincare industry is huge and expanding mostly driven by the need for routines, online sales of natural skincare, and the growing penetration of the internet.
This has increased demand for dodecanoic acid or lauric acid 99% which is a multipurpose oleochemical that has a slight smell similar to soap or bay oil and can be found in coconut oil among other natural sources. It is a dazzling white, powdery solid and can be applied topically, it is safe for cosmetic usage. Wetting agents, soaps, alkyd resins, and cosmetics are all made with decanoic acid which comes from RSPO-certified farmers and is non-GMO, allergen-free, and BSE-free. This product is used to emulsify lotions and creams for the face since it benefits the skin by lowering bacteria and inflammation in the skin, is frequently used to treat acne, and aids in skin restoration.
Type (Fractionated Fatty Acids, Distilled Fatty Acids)
Dodecanoic acid market from the distilled fatty acids segment is set to garner a notable share shortly. Distilled fatty acid is a by-product of the refining of vegetable oil which is a viscous, brownish-yellow liquid with a faint that is often used in industry to make lubricants, soaps, and detergents that can be used to produce various products that are utilized in detergents and cosmetics via saponification, sulphonation, or sulphation. Moreover, dodecanoic acid can be obtained by further distilling the content, which ranges from around 40% to 75%.
Our in-depth analysis of the global market includes the following segments:
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Type |
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Application |
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APAC Market Forecast
Dodecanoic Acid market in Asia Pacific is predicted to account for the largest share of 43% by 2036 impelled by the growing chemical sector. The Indian chemicals industry stands out as one of the fastest-growing worldwide. It is known as a favored center for the production of specialty chemicals for both local and international markets. that provided over 5% of the nation's Gross Domestic Product (GDP) in 2022. Moreover, the country’s chemical sector has a bright future driven by increasing import replacements, robust export growth, and rising domestic consumption across end-user industries.
North America Market Statistics
The North America dodecanoic acid market is estimated to be the second largest, during the forecast timeframe led by rising personal disposable income. For instance, the United States' disposable personal income rose by over 0.2% in October 2023 compared to the same month the previous year. As a result, consumers have been spending more of their discretionary cash on cosmetics in the region which is expected to drive the demand for lauric acid.
Author Credits: Smruti Ranjan, Rajrani Baghel
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