Published: Sep, 2019
The global carboxylic acids market is foreseen to grow substantially with a steady 4.9% CAGR within the forecast period from 2015 to 2023, says a recently published report by Transparency Market Research.
Surging demand regarding personal care and cosmetic products will likewise catalyze the demand in the global carboxylic acids market. Broad use of valeric, butyric, and stearic acids in the making of these items will impact the global carboxylic corrosive market in the future. Increasing awareness among the individuals about beauty products, along with expanding discretionary cashflow, will push the market size impressively in the forthcoming years Utilization of the acids for esterification to give the scent and to avoidance of organisms, will in general affect the market. Over 80% of these are personal care items are for beautifiers, healthy skin items, scents, and hair care items.
Another significant carboxylic corrosive market share supporter is foreseen to be the developing utilization of natural acid in the animal feed sector so as to counteract development of microorganisms. Carboxylic corrosive, for example, formic corrosive and propionic acid avert the development of salmonella that defile the nourishment and makes infections creatures just as people. Increasing demand in healthcare industry is also propelling the demand.
Strict Government Regulations to Hinder Growth in Future
Then again, stringent administrative and authoritative activities against the extraction of oil based carboxylic acids are among the restrictions in the global carboxylic corrosive market. Moreover, effectively accessible substitutes for different applications are probably going to control carboxylic corrosive market development globally.
The demand in the global carboxylic acids market has been raising because of innovation in food sector, discovers Transparency Market Research (TMR). The market players in the global carboxylic acids market have been concentrating on extending their reach just as modern venture by getting into collaborations and mergers. Besides, these market merchants are anticipated to remain significant in the midst of the changing trends in the market leading thorough research activities.
Asia Pacific to Lead Due to Increasing Consumers of Carboxylic Acids Through Food Products
Asia Pacific in 2014, emerged as the biggest region with highest share of the global carboxylic acids market. Consumer products, food and beverage, oils, and others are the most rewarding sections of the carboxylic acids market in the region. Asia Pacific is additionally rising as the point of focus for the making of bio-based and chemical compounds. China drives the market, with the expansion of new capacities with regards to carboxylic acids. North America is foreseen to outpace Europe by 2023 because of surging for carboxylic acids in pharmaceutical and food and drinks sectors.
Market To Witness Highly Competitive Scenario
The competitive landscape of the global carboxylic acids market is extremely fragmented because of the emergence of countless market players. Around 22% of the overall market offer is held by the main five market players, The small market players are anticipated to deploy money related study methods so as to meet their revenues from the original investment focuses. Besides, the net revenues for the little and medium-sized players are tight because of the nearness of countless market merchants. They major players in the global carboxylic acids market are Celanese Corporation, The Dow Chemical Company, BASF SE, and Eastman Chemical Company.
The review is based on TMR’s report titled “Carboxylic Acids (Acetic, Valeric, Isovaleric, Formic, Propionic, Butyric, Isobutyric, Citric, Caproic, Stearic, and Others) Market for Food & Beverages, Animal Feed, Pharmaceuticals, Personal Care & Cosmetics, Consumer Goods, Lubricants, and Other End-users - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2023”.
This report segments the global carboxylic acids market as follows:
- Carboxylic Acids Market – Product Segment Analysis
- Acetic acid
- Valeric acid
- Isovaleric acid
- Formic acid
- Propionic acid
- Butyric acid
- Isobutyric acid
- Citric acid
- Caproic acid
- Stearic acid
- Others (including benzoic acid)
- Carboxylic Acids Market & End-user Analysis
- Food & beverages
- Animal feed
- Personal care & cosmetics
- Consumer goods
- Others (including agrochemicals, textiles, chemical intermediates, rubber, etc.)
- Carboxylic Acids Market – Regional Analysis
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa (MEA)
- South Africa
- Rest of Middle East & Africa
- North America
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