Crotonic Acid Market Present Scenario And The Growth Prospects 2025

Crotonic acid is one of the vital ingredients used in the production of paints and coatings, due to its ability to develop copolymers when mixed with other chemical compounds. Additionally, crotonic acid monomer is also used for the formulation of a thickener, which is utilized in the production of glossy emulsion paints. These paints provide extra glowing effects and protective coatings to the interiors and exterior of buildings. Thus, the surging use of paints and coatings, owing to the booming construction and infrastructure industries, will fuel the adoption of crotonic acid in the coming years.

Moreover, the flourishing adhesives industry will help the crotonic acid market to grow at a CAGR of 7.9% during 2021–2025. According to P&S Intelligence, the market revenue stood at $592.0 million in 2020 and it is projected to reach $853.7 million by 2025. Huge quantities of the acid are used as a comonomer with vinyl acetate in the adhesive sector. The copolymers resulting from this chemical reaction are used in the formulation of acids. For example, hot melt adhesives are usually developed by grafting crotonic and acrylic acids onto metallocene ethylene–octene copolymers.

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In recent years, the pharmaceutical industry has been using large volumes of crotonic acid as an intermediate to produce crotamiton drugs. These drugs are used as an acaricide in the treatment of scabies. To meet the booming demand for the acid from various end-use industries, crotonic acid producers, such as Tianjin Jinhui Pharmaceutical Group Co. Ltd., WeylChem International GmbH, EUCLID, Henan Tianfu Chemical Co. Ltd., Penta Manufacturing Company, Kono chem co. Ltd., Zhengzhou Tuozhixiang Trading Co. Ltd., Central Drug House (P) Ltd., Spectrum Chemical Manufacturing Corporation, and ALB Technology Limited, are developing the acid in abundance.

Additionally, the automotive industry is also using a huge quantity of crotonic acid due to the increasing production of automobiles, especially in developing countries such as China, India, Brazil and Indonesia. According to the International Organization of Motor Vehicle Manufacturers (OICA), China produced 19,994,081 cars and 5,231,161 commercial vehicles in 2020. The OICA further states that India, Indonesia, and Brazil produced 2,851,268 units, 551,400 units, and 1,608,870 units of cars, respectively, in 2020. Paints and coatings containing crotonic acid are being used by the automobile industry to offer enhanced protection to vehicles.

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Geographically, China dominated the crotonic acid market in the recent past, and it is expected to retain its dominance in the coming years as well. Additionally, the country is also expected to consume crotonic acid at the highest rate in the foreseeable future. This can be attributed to the burgeoning demand for paints, coatings, and adhesives for the repair and renovation of residential and commercial buildings in the country. Moreover, the surging use of the acid as plasticizers, fungicides, and intermediates in the chemical, agriculture, and pharmaceutical industries, respectively, will augment the consumption of crotonic acid in the country in the coming years.

Thus, expanding paints and coatings and adhesives industries and burgeoning demand for automobiles will amplify the need for crotonic acid in the foreseeable future.

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This release was published on openPR.