Hydroxypropionic Acid Market: Overview

  • Hydroxypropionic acid or 3-hydroxypropionic acid is a carboxylic acid. It is used as an intermediate in the breakdown of branched-chain propionic acid and amino acids from the gut. It is a leading value-added chemical manufactured from renewable resources.
  • Hydroxypropionic acid is used in the production of various chemicals including acrylic acid, or acrylamide and 1,3-propanediol. Acrylic acid produced from hydroxypropionic acid is used in paints & coatings, adhesives, fabrics, water-based emulsions, etc.
  • Decrease in petroleum reserves and increase in environmental pollution are driving the demand for bio-based chemical products. This is boosting the global hydroxypropionic acid market.

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Rise in Demand for Refractories to Drive Hydroxypropionic Acid Market

  • Growth in demand for acrylates in various industries including fabrics, paints & coatings, and adhesives is estimated to propel the demand for hydroxypropionic acid during the forecast period
  • Demand for eco-friendly adhesives is expected to rise in the near future. This is anticipated to drive the global hydroxypropionic acid market.
  • Growth in construction activities in Asia Pacific and Europe is significantly augmenting the demand for acrylates, thus driving the consumption of hydroxypropionic acid
  • Demand for bio-based polymers has been increasing due to its eco-friendly nature. This is further boosting the hydroxypropionic acid market.
  • Availability of low cost synthetic substitutes is one of the major factors hampering the global hydroxypropionic acid market. Acrylate manufacturers choose synthetic polymers due to their lower prices. Volatility in prices of raw materials due to lack of availability of proper resources hampers the market.
  • The global hydroxypropionic acid market is facing supply-demand shortages due to the industrial shutdown triggered by the COVID 19 pandemic. Disruption in supply of raw materials is projected to hamper full-scale operations. Supply shortage also raises the prices of raw materials. Affected downstream supply chain might take longer for deliveries. The industrial shutdown has also adversely impacted product and inventory transportation, as logistic services have been hampered.

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Powder Form Segment to Offer Lucrative Opportunities

  • Based on form, the global hydroxypropionic acid market can be segmented into powder and liquid
  • The powder segment is anticipated to dominate the market due to growth in consumption of powder in the manufacture of acrylates used in various adhesives (including wood adhesives and bio-adhesives)

Construction Application Segment to Hold Major Share of Market

  • Based on application, the hydroxypropionic acid market can be divided into construction, adhesives & sealants, paints & coatings, and others
  • The construction segment is expected to dominate the hydroxypropionic acid market during the forecast period. Growth in industrial and residential construction is expected to drive the demand for hydroxypropionic acid during the forecast period.
  • The paints & coatings segment is anticipated to experience significant growth opportunities, due to the rise in adoption of paints and coatings in automotive and aerospace industries

Asia Pacific to Constitute Significant Share of Global Hydroxypropionic Acid Market

  • In terms of region, the global hydroxypropionic acid market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
  • Asia Pacific dominated the global market in 2019, due to the presence of key manufacturers as well as growth in trade activities from China
  • Expansion of the manufacturing industry and the construction sector in Asia Pacific is likely to boost the hydroxypropionic acid market in the region in the near future
  • North America is also estimated to hold key share of the global hydroxypropionic acid market during the forecast period
  • The market in Europe is expected to expand at a higher CAGR than that in other regions during the forecast period, owing to the rise in construction activities in Eastern Europe. Additionally, presence of large number of paints & coatings manufacturers in Germany and France is boosting the demand for hydroxypropionic acid in Europe.

Key Players in Market

Manufacturers of hydroxypropionic acid are highly consolidated in Asia Pacific. Trading activities from Asia Pacific countries, such as China, are increasing at a rapid pace. Prominent players operating in the market are investing in new product launch and technological developments in order to maintain their leading position.

Key players operating in the global hydroxypropionic acid market include:

  • Lion Apparel Inc.
  • Triveni Interchem Private Limited
  • BASF SE
  • TCI Co. Ltd.
  • Novozymes
  • ShanDong Fine Chemical
  • Hangzhou Dayang Chemical
  • Xiamen Hisunny Chemical
  • Shanxi Jinjin Chemical Co., Ltd.
  • Apollo Scientific
  • 3B Scientific

Global Hydroxypropionic Acid Market: Research Scope

Global Hydroxypropionic Acid Market, by Form

  • Liquid
  • Powder

Global Hydroxypropionic Acid Market, by Application

  • Construction
  • Adhesives & Sealants
  • Paints & Coatings
  • Others

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Hydroxypropionic Acid Market

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