Dodecanoic Acid Market - Regional Analysis
APAC Market Insights
Asia Pacific industry is estimated to hold largest revenue share of 43% by 2035, 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 Insights
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.
