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Carboxylic Acid Market Size to showcase significant growth via animal feed additives industry

Author : Ronak Bora | Published Date : 2019-08-07 

Growing demand as growth promoters in the animal feed additives industry is also likely to steer the global carboxylic acid market in the next eight years. Formic and propionic acid find application in prevention of salmonella growth in food products. Animal feed industry will witness steady gains owing to increasing consumption demand of animal products such as meat, milk, leather, wool, etc. Strict regulations against antibiotic growth promoters may have a beneficial impact on the global carboxylic acid market throughout the forecast period.

Demand in carboxylic acid market may be hindered by the availability of natural and organic substitutes that are used as growth promoters in the animal feed additives market. Amino acids, probiotics, antimicrobials, antioxidants, nutraceuticals, etc. are gradually gaining importance in the market and pose a threat to the global carboxylic acid market growth. Regulations against petro-based carboxylic acids will also hamper the market growth as they have massive carbon footprints.

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The consumer goods sector covered more than 35% of the overall carboxylic acid market share in 2015 and will exhibit a CAGR of more than 5% over the coming seven years. The growth can be attributed to the increasing requirement of the product for agriculture, construction, electronics, and packaging applications, where plastic materials are prominently used.

Stearic and acetic acids find huge applications in the abovementioned sectors as well. Stearic acid, especially, is abundantly used for the manufacturing of various consumer goods such as detergents, cosmetics, and soaps. On these grounds, stearic carboxylic acid market, having had a revenue of USD 3.5 billion in 2015, is slated to witness considerable growth rate over the years ahead.

The requirement of animal feed has been increasing exponentially across the globe, owing to the escalating demand for animal products such as leather, meat, wool, and milk etc. Carboxylic acid based products help to avoid the infection of salmonella in poultry farms, which will influence carboxylic acid industry share over the coming years.

Asia Pacific region registered more than 45% of the carboxylic acid market share with revenue in excess of USD 6.5 billion in 2015. APAC is also expected to be the quickest growing region with CAGR above 5.0%.

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.

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.

Glimpse of Table of Content (ToC)

Chapter 4    Carboxylic Acid Product Insights

4.1    Carboxylic acid market share by product, 2015 & 2024

4.2    Acetic acid

4.2.1    Global market estimates and forecast, 2013 - 2024

4.2.2    Global market estimates and forecast, by region, 2013 - 2024

4.3    Valeric acid

4.3.1    Global market estimates and forecast, 2013 - 2024

4.3.2    Global market estimates and forecast, by region, 2013 – 2024

4.4    Isovaleric acid

4.4.1    Global market estimates and forecast, 2013 - 2024

4.4.2    Global market estimates and forecast, by region, 2013 – 2024

4.5    Formic acid

4.5.1    Global market estimates and forecast, 2013 - 2024

4.5.2    Global market estimates and forecast, by region, 2013 – 2024

4.6    Propionic acid,

4.6.1    Global market estimates and forecast, 2013 - 2024

4.6.2    Global market estimates and forecast, by region, 2013 – 2024

4.7    Butyric acid

4.7.1    Global market estimates and forecast, 2013 - 2024

4.7.2    Global market estimates and forecast, by region, 2013 – 2024

4.8    Isobutyric acid

4.8.1    Global market estimates and forecast, 2013 - 2024

4.8.2    Global market estimates and forecast, by region, 2013 – 2024

4.9    Citric acid

4.9.1    Global market estimates and forecast, 2013 - 2024

4.9.2    Global market estimates and forecast, by region, 2013 – 2024

4.10      Caproic acid

4.10.1    Global market estimates and forecast, 2013 - 2024

4.10.2    Global market estimates and forecast, by region, 2013 – 2024

4.11      Stearic acid

4.11.1    Global market estimates and forecast, 2013 - 2024

4.11.2    Global market estimates and forecast, by region, 2013 – 2024

4.12      Others

4.12.1    Global market estimates and forecast, 2013 - 2024

4.12.2    Global market estimates and forecast, by region, 2013 – 2024

Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/carboxylic-acid-market

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About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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