Press release
Carboxylic Acid Market Growth and Projection till 2024: Top key players are BASF, Dow, Celanese, Lyondellbasell, Eastman Chemical Company, VVF Group
Carboxylic Acid Market
The basic objective of this report is to deliver details pertaining to the growth of the carboxylic acid market, with respect to the rising demand from various sectors. The market report comprises an in-depth study of the current trends, growth opportunities, sectors likely to depict high growth prospects, industry drivers, and more, that would help shareholders undertake major decisions.
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This report also focuses on the Professional Global Carboxylic Acid Market size with respect to the volume and value - at the regional, company, and worldwide level. Market strategies undertaken, with regards to the current and future industry scenario have also been enlisted in the study.
Increasing awareness regarding personal care and health will lead to an increased demand for beauty products. Carboxylic Acid Market is expected to gain lucrative revenue over the next few years, pertaining to the aforementioned factor. In addition, the increased spending on personal care products due to surging per capita income will also provide a positive impetus to the overall business trends. Butyric, stearic, and valeric are the prominent products used to manufacture personal care products for skin and hair care. Of late, there has been a considerable change observed in the living standards. This has subsequently led to a rising adoption of packaged food, which will stimulate carboxylic acid industry size pertaining to growing demand of the product for packaging purposes.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. BASF
2. Dow
3. Celanese
4. LyondellBasell
5. Eastman Chemical Company
6. Thirumalai Chemicals Ltd
7. Alfa Aesar
8. Perstorp Group
9. Oxea
10. FINETECH INDUSTRY LIMITED
11. VanDeMark Chemical Inc
12. ASHOK ALCO CHEM LTD
13. Shenyang Zhangming Chemical Co., Ltd.
14. VVF Group
Asia Pacific carboxylic acid market accounted for more than 45% of the global share in 2015 and will collect notable revenue with an annual growth rate of more than 5% over 2016-2024. The product is extensively used in the food & beverage and consumer goods sectors. Japan, China, and India are expected to contribute significantly toward the regional growth.
North America carboxylic acid market generated a revenue of USD 2 billion in 2015 and will register substantial annual growth rate over 2016 to 2024. Deployment of strict rules and regulations by REACH about the usage of carboxylic acid will lower the manufacturing of the product across this region.
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Another vital professional sector that is estimated to increase the targeted revenue of carboxylic acid market is that of animal feed. The utilization potential of formic acid, propionic acid, and other such organic acids in animal feed to prevent the growth of microbes that contaminate the feed and cause health hazards to the animals and humans has been recognized widely in recent times. Naturally, leading business players have been focusing on upgrading their product portfolio in a bid to use these acids increasingly as animal feed additives. Oxea's production facility upgradation for propionic acid, for instance, supports the growth of animal feed acidifiers that help to develop animal feed devoid of antibiotic growth promoters. In addition, strict regulations with regards to banning antibiotic growth promoters in animal feed for cattle, poultry, and pigs will carve out a positive growth graph for carboxylic acid industry from animal feed applications.
The Worldwide carboxylic acid market report also delivers massive details pertaining to the information regarding the industry - these are inclusive of important facts and figures, the latest developments worldwide, and expert ideas. The study provides a complete assessment of the summary of this business sphere, is inclusive of the evaluation of the present scenario as well as the growth factors. In addition, the assessment includes details about the present market trends as well as current scenario analysis.
The key participants in carboxylic acid market are Celanese Corporation, BASF SE, Jiangsu Sopo (Group) Co., Ltd, Dow Chemical Company, LyondellBasell Industries, Alfa Aesar, Eastman Chemical Company, Perstorp Holding, and OXEA.
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Despite boasting of a widespread product and application spectrum, carboxylic acid market has its share of detrimental restraints, one of the primary ones being, the availability of organic substitutes in the animal feed sector. Formic acid, acetic acid, stearic acid, and other such products have reportedly lost their market share to products such as antimicrobials & antioxidants, amino acids, nutraceuticals, and probiotics, in the recent years. The governments of various countries and certain regulatory bodies have also imposed specific restrictions of the production of petroleum-based carboxylic acids encompassing long-chain hydrocarbons, which is likely to restrict carboxylic acid industry growth. Nonetheless, the innumerable product utilization across numerous professional domains is projected to catapult this market to greater heights over the years ahead.
Key questions answered in the report:
o What will be the market demand, size, share, and consumption between 2020 to 2025?
o What will the growth rate of market?
o What was the status of this market worldwide during the past years?
o What are the key factors that will drive the market?
o What are the risks, opportunities, and the overview of market?
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