The Global Carboxylic Acid Market to grow from USD 16.58 billion in 2022 to USD 26.99 billion by 2030, at a CAGR of 6.28%.

PUNE, MAHARASHTRA, INDIA, November 10, 2023 /EINPresswire.com/ -- The "Carboxylic Acid Market by Product (Acetic Acid, Butyric Acid, Caproic Acid), Production Technology (Renewable Fermentation Process, Synthetic Process), Applicatiion - Global Forecast 2023-2030" report has been added to 360iResearch.com's offering.

The Global Carboxylic Acid Market to grow from USD 16.58 billion in 2022 to USD 26.99 billion by 2030, at a CAGR of 6.28%.

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Carboxylic acid, an essential component in the field of organic chemistry, is a type of organic compound characterized by the presence of a carboxyl group (COOH). The general molecular formula for carboxylic acids is R-COOH, where R represents an alkyl or aryl group. Carboxylic acids play a crucial role in various biological processes and industrial applications, and it is derived from a variety of sources, such as alcohols and aldehydes. The demand for animal feed has led to a surge in the need for carboxylic acids as essential ingredients in feed formulations. Moreover, there has been a notable rise in the utilization of carboxylic acid in the food & beverage sector, owing to its properties as a food preservative, flavoring agent, and pH regulator. Additionally, the continuous expansion of the pharmaceutical sector worldwide offers promising prospects for applying carboxylic acids in drug synthesis and formulation. Fluctuating costs and raw materials used in carboxylic acid production impact its affordability and availability in various industries. The storage and transportation of carboxylic acids represent significant challenges due to their corrosive nature and sensitivity to environmental conditions. However, the development of renewable fermentation of carboxylic acid from biomass sources, which can lead to sustainable and cost-effective production methods and utilizing CO2 for synthesizing carboxylic acids, presents an innovative approach that could contribute to reducing carbon emissions while generating valuable chemical compounds.

Production Technology: Significance of renewable fermentation process over synthetic production process
Renewable fermentation is a sustainable method of producing carboxylic acids by utilizing microorganisms and renewable feedstocks such as biomass or waste materials. The renewable fermentation method offers several advantages over conventional processes, including reduced environmental impact and lower raw material costs. The synthetic process involves creating carboxylic acids through chemical reactions using petrochemical-derived raw materials as starting points. Synthetic methods are well-established in the market due to the nature of production techniques and higher production capacities.

Product: Significant preferences for acetic and isobutyric acid depending on chemical properties
Acetic acid is an essential carboxylic acid widely utilized in the manufacturing of vinyl acetate monomer, acetic anhydride, and ester solvents for utilization in food & beverages, pharmaceuticals, and textiles industries. Butyric acid has antimicrobial properties and potential health benefits and finds applications in various industries, such as food flavoring, pharmaceuticals, and animal feed additives. Production of esters for the flavors and fragrances industry utilizes caproic acid in the manufacturing processes. Citric acid is a weak organic acid occurring naturally in citrus fruits and has a wide scope of applications, such as food & beverage manufacturing, pharmaceuticals, and personal care products, as a preservative, flavor enhancer, and acidity regulator. Formic acid is extensively used as a preservative and antibacterial agent in various industries such as agriculture, leather tanning, and textile printing. The increasing demand for isobutyric acid is attributed to its use as an intermediate chemical for the production of esters used in the flavors and fragrances industry. The demand for isovaleric acid has been increasing due to its applications in food flavoring and pharmaceuticals. The need for propionic acid has grown significantly due to its antimicrobial properties and use as an intermediate chemical for the production of various derivatives used in food preservatives, animal feed additives, and pharmaceuticals.

Application: Emerging utilization of the carboxylic acid in the pharmaceuticals and lubricants
Carboxylic acids, particularly short-chain fatty acids such as formic and propionic acids, are used as preservatives and pH regulators in animal feed formulations. Citric acid is widely used in formulating consumer goods such as detergents, cleaning agents, plasticizers, adhesives, and other household products due to its chelating properties and biodegradability. The food industry uses carboxylic acids such as acetic acid, lactic acid, malic acid, and tartaric acid for flavor enhancement, preservation, acidity regulation, texturization, or microbial control purposes. Carboxylic acids and their derivatives serve as critical building blocks for producing synthetic lubricants, corrosion inhibitors, or metalworking fluids. Carboxylic acids such as caprylic, glycolic, and salicylic acids play vital roles in skin care products as exfoliants, emollients, or antimicrobial agents. Adipic acid, sebacic acid, and terephthalic are essential constituents in the textile, leather, and rubber industries for use in nylon production and plasticizer manufacturing. Carboxylic acids exhibit diverse biological activities such as analgesic, antiviral, anti-inflammatory, or anticancer properties in the pharmaceutical industry.

Regional Insights:
In the Americas region, the United States majorly contributes to the market growth with strong demand for high-performance polymers used in aerospace and automotive industries. The public and private sector in the Americas region is investing in developing renewable approaches to produce carboxylic acids from biomass feedstocks. European countries, including Germany, France, and Italy, contribute significantly to the demand for carboxylic acids due to their robust automotive, pharmaceutical, and consumer goods industries. The Middle East and Africa's market growth is influenced by the expanding oil & gas sector utilizing petrochemical derivatives containing carboxylic acids. The APAC region has witnessed significant market growth due to rapid urbanization and industrialization, leading to an increased demand for carboxylic acid products. In the APAC region, China and Japan have the presence of notable market players due to their massive manufacturing capabilities and growing application industries such as textiles, pharmaceuticals, automotive, and personal care products.

FPNV Positioning Matrix:

The FPNV Positioning Matrix is essential for assessing the Carboxylic Acid Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).

Market Share Analysis:

The Market Share Analysis offers an insightful look at the current state of vendors in the Carboxylic Acid Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.

Key Company Profiles:

The report delves into recent significant developments in the Carboxylic Acid Market, highlighting leading vendors and their innovative profiles. These include abcr GmbH, AFYREN SA, Ajinomoto Co., Inc., Alfa Aesar by Thermo Fisher Scientific Inc., ALPHA CHEMIKA, Ascentus Organics Pvt. Ltd., Ashland Inc., Ashok Alco - chem Limited, BASF SE, Celanese Corporation, Eastman Chemical Company, EBRATOR BIOCHEMICALS,INC., Evonik Industries AG, Finar Limited by Actylis, FINETECH INDUSTRY LIMITED, Firmenich SA, FUJIFILM Wako Pure Chemical Corporation, Hibrett Puratex, INEOS Group, Innospec Inc., JSR Corporation, Kakdiya Chemicals, Kaneka Corporation, Kanto Chemical Co., Inc., Kao Corporation, Koninklijke DSM N.V., LyondellBasell Industries Holdings B.V., Merck KGaA, Mitsui Chemicals, Inc., Noah Chemicals, INC., OQ Chemicals GmbH, Petroliam Nasional Berhad (PETRONAS), ProChem, Inc., Redox Industries Limited, The Dow Chemical Company, The Lubrizol Corporation, Thirumalai Chemicals Ltd., Tokyo Chemical Industry Co., Ltd., VanDeMark Chemical, Inc., Vigon International, LLC, Volu-Sol, VVF L.L.C., and Wacker Chemie AG.

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Market Segmentation & Coverage:

This research report categorizes the Carboxylic Acid Market in order to forecast the revenues and analyze trends in each of following sub-markets:

Based on Product, market is studied across Acetic Acid, Butyric Acid, Caproic Acid, Citric Acid, Formic Acid, Isobutyric Acid, Isovaleric Acid, Propionic Acid, Stearic Acid, and Valeric Acid. The Acetic Acid commanded largest market share of 14.12% in 2022, followed by Citric Acid.

Based on Production Technology, market is studied across Renewable Fermentation Process and Synthetic Process. The Synthetic Process is further studied across Carboxylation of Grignard Reagents, Oxidation of Alcohols and Aldehydes, and Hydrolysis of Nitriles and Esters. The Synthetic Process commanded largest market share of 67.12% in 2022, followed by Renewable Fermentation Process.

Based on Applicatiion, market is studied across Animal Feed, Consumer Goods, Food & Beverages, Lubricants, Personal Care & Cosmetics, Pharmaceuticals, and Textiles, Leather & Rubber. The Food & Beverages commanded largest market share of 22.12% in 2022, followed by Personal Care & Cosmetics.

Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Europe, Middle East & Africa commanded largest market share of 37.23% in 2022, followed by Asia-Pacific.

Key Topics Covered:

1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Carboxylic Acid Market, by Product
7. Carboxylic Acid Market, by Production Technology
8. Carboxylic Acid Market, by Applicatiion
9. Americas Carboxylic Acid Market
10. Asia-Pacific Carboxylic Acid Market
11. Europe, Middle East & Africa Carboxylic Acid Market
12. Competitive Landscape
13. Competitive Portfolio
14. Appendix

The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

The report answers questions such as:
1. What is the market size and forecast of the Carboxylic Acid Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Carboxylic Acid Market?
3. What is the competitive strategic window for opportunities in the Carboxylic Acid Market?
4. What are the technology trends and regulatory frameworks in the Carboxylic Acid Market?
5. What is the market share of the leading vendors in the Carboxylic Acid Market?
6. What modes and strategic moves are considered suitable for entering the Carboxylic Acid Market?

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Mr. Ketan Rohom
360iResearch
+1 530-264-8485
ketan@360iresearch.com

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