Press release
Global Carboxylic Acid Market | Newest Industry Data, Future Trends and Forecast 2024
Carboxylic Acid, Carboxylic Acid Market, Carboxylic Acid Market Size, Carboxylic Acid Industry, Carboxylic Acid Market share
Carboxylic Acid Market size is anticipated to surpass USD 20 billion by 2024; according to a new research report. Escalating vinyl acetate monomer (VAM) demand in food and beverage storage and packing industry will drive global carboxylic acid market growth. VAM market size was estimated to be worth over USD 7.4 billion in 2015 and is estimated to witness a healthy growth from 2016 to 2024. Population demographics and lifestyle dynamics will continue to drive packed food and beverage demand, which in turn will propel the food packaging industry. Acetic acid is used to produce vinyl esters that are used for coating of food packaging materials. Ethylene-vinyl acetate is a copolymer of VAM and is used in the production of adhesives.
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Global carboxylic acid market size is expected to be positively influenced by the rising cosmetics and personal care market. Stearic, butyric, and valeric acid, are extensively used for fragrance applications by esterification along with microbial prevention. Beauty products, skin care products, hair care products, and perfumes &deodorants comprise of the maximum share of the personal care products. Growing body care awareness and beauty consciousness will account for the rise of the cosmetics and personal care industry in the upcoming years, helping the carboxylic acid market grow consistently.
Growing demand as growth promoters in the animal feed additives industry is also likely to steer the global carboxylic acid market in the next eight years. Formic and propionic acid find application in prevention of salmonella growth in food products. Animal feed industry will witness steady gains owing to increasing consumption demand of animal products such as meat, milk, leather, wool, etc. Strict regulations against antibiotic growth promoters may have a beneficial impact on the global carboxylic acid market throughout the forecast period.
Demand in carboxylic acid market may be hindered by the availability of natural and organic substitutes that are used as growth promoters in the animal feed additives market. Amino acids, probiotics, antimicrobials, antioxidants, nutraceuticals, etc. are gradually gaining importance in the market and pose a threat to the global carboxylic acid market growth. Regulations against petro-based carboxylic acids will also hamper the market growth as they have massive carbon footprints.
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Key insights from the report include:
Global carboxylic acid market size is likely to cross USD 20 billion by 2024, growing with an estimated CAGR of 5.0% from 2016 to 2024.
Acetic acid market dominates carboxylic acid market landscape, accounting to more than 40% of the overall revenue. Exclusive applications across the food and beverages sector is expected to catalyze this dominance throughout the forecast period.
Stearic acid market, with over USD 3.5 billion consumption in 2015, finds usage in manufacturing of consumer goods such as soaps, detergents, etc. along with industrial products such as lubricants, softening and release agents, and several other products. It comprises of over a quarter of the total carboxylic acid market share.
Among the end-user industries, consumer goods find significant global carboxylic acid market share, with more than USD 4.5 billion in revenue for 2015, which is over one-third of the overall market share.
Asia Pacific region registered more than 45% of the carboxylic acid market share with revenue in excess of USD 6.5 billion in 2015. APAC is also expected to be the quickest growing region with CAGR above 5.0%.
Company level carboxylic acid market share is highly fragmented with top five companies accounting to less than 25% of the overall market share.
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Table of content:
Chapter 2 Executive Summary
2.1 Carboxylic acid industry 360 degree synopsis, 2013 - 2024
2.1.1 Business trends
2.1.2 Product trends
2.1.3 End-user trends
2.1.4 Regional trends
Chapter 3 Carboxylic Acid Industry Insights
3.1 Industry Segmentation
3.2 Industry Size and forecast, 2013 - 2024
3.3 Industry ecosystem analysis
3.3.1 Vendor matrix
3.3.2 Distributor matrix
3.4 Industry Impact forces
3.4.1 Growth drivers
3.4.1.1 Mushrooming demand of vinyl acetate monomer (VAM)
3.4.1.2 Growth in cosmetics and personal care industry
3.4.1.3 Increasing use of organic acid in animal feed industry
3.4.2 Industry pitfalls and challenges
3.4.2.1 Threat of organic and natural substitutes for animal feed
3.4.2.1 Stringent government regulations on production of petroleum-based carboxylic acids
3.5 Growth potential analysis
3.6 Porter's analysis
3.7 Company market share analysis, 2015
3.7.1 Strategic landscape
3.8 PESTEL analysis
3.9 Regional price trends
3.9.1 Cost structure analysis
Chapter 4 Carboxylic Acid Product Insights
4.1 Carboxylic acid market share by product, 2015 & 2024
4.2 Acetic acid
4.2.1 Global market estimates and forecast, 2013 - 2024
4.2.2 Global market estimates and forecast, by region, 2013 - 2024
4.3 Valeric acid
4.3.1 Global market estimates and forecast, 2013 - 2024
4.3.2 Global market estimates and forecast, by region, 2013 - 2024
4.4 Isovaleric acid
4.4.1 Global market estimates and forecast, 2013 - 2024
4.4.2 Global market estimates and forecast, by region, 2013 - 2024
4.5 Formic acid
4.5.1 Global market estimates and forecast, 2013 - 2024
4.5.2 Global market estimates and forecast, by region, 2013 - 2024
4.6 Propionic acid,
4.6.1 Global market estimates and forecast, 2013 - 2024
4.6.2 Global market estimates and forecast, by region, 2013 - 2024
4.7 Butyric acid
4.7.1 Global market estimates and forecast, 2013 - 2024
4.7.2 Global market estimates and forecast, by region, 2013 - 2024
4.8 Isobutyric acid
4.8.1 Global market estimates and forecast, 2013 - 2024
4.8.2 Global market estimates and forecast, by region, 2013 - 2024
4.9 Citric acid
4.9.1 Global market estimates and forecast, 2013 - 2024
4.9.2 Global market estimates and forecast, by region, 2013 - 2024
4.10 Caproic acid
4.10.1 Global market estimates and forecast, 2013 - 2024
4.10.2 Global market estimates and forecast, by region, 2013 - 2024
4.11 Stearic acid
4.11.1 Global market estimates and forecast, 2013 - 2024
4.11.2 Global market estimates and forecast, by region, 2013 - 2024
4.12 Others
4.12.1 Global market estimates and forecast, 2013 - 2024
4.12.2 Global market estimates and forecast, by region, 2013 – 2024
For details about this report: https://www.marketstudyreport.com/reports/carboxylic-acid-market
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