MarketResearch.biz announces publication of its most recently generated research report titled, “Global Carboxylic Acids Market by Product Type (Acetic Acid, Propionic Acid, Butyric Acid, Valeric Acid, Caproic Acid, & Other Product Types), End-Use Industry (Food & Beverages, Pharmaceuticals, Personal Care & Cosmetics, & Other End-Use Industries), and Region – Global Forecast to 2020 and 2030.”, which offers a holistic view of the global Carboxylic Acids market through systematic segmentation that covers every aspect of the target market. The first five-year cumulative revenue (2021–2025) is projected to be over US$ 19,605.0 Bn, which is estimated to increase moderately over the latter part of the five-year forecast period.
Carboxylic acids are organic compounds or short-chain fatty acids that belong to the carboxyl group (–COOH). They are also known as the and hydroxyl group & carbonyl group in the chemical structure. Formic, oxalic, succinic, citric, etc. are some of the organic acids that belong to aliphatic mono- and di carboxylic acid and have properties such as strong odor, high boiling point, high solubility in polar solvents, similar to that of water, alcohols, methanol, ethanol, etc.
Global Carboxylic Acids Market: Market Dynamics
Due to its pH balance and solubility properties, carboxylic acids’ demand has increased in the last few years. Moreover, increased consumption of products such as aerated drinks, cheese, or other dairy products among individuals that contain carboxylic acid. This increasing demand for carboxylic acid and its derivatives as a preservative and flavoring compound in the food & beverage industry is a factor expected to fuel market growth over the next 10 years.
However, regulations imposed by governments pertaining to international quality standards is among some of the key factors expected to hamper growth of the global Carboxylic Acids market to a certain extent.
Increasing focus on research and development activities for advances in manufacturing technology development for carboxylic acid used in several applications provides a beneficial opportunity to Carboxylic acid manufacturers.
Global Carboxylic Acids Market: Market Forecast
The comprehensive research report comprises a complete forecast of the global Carboxylic Acids market based on factors affecting the market and their impact in the foreseeable future. According to the forecast projections, revenue from the global Carboxylic Acids market is estimated to expand at a moderate CAGR of 5.3% during the forecast period.
Global Carboxylic Acids Market: Segmental Snapshot
The market report has been segmented on the basis of product type, end-use industry, and region. The product type segment includes acetic acid, propionic acid, butyric acid, valeric acid, caproic acid, & other product types. The end-use industry segment includes food & beverages, pharmaceuticals, personal care & cosmetics, & other end-use industries. The region covered in the analysis are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
By product type: The acetic acid segment is expected to register a CAGR of over 6.3%, thereby accounting for highest revenue share among the type segments.
By end-use industry: The food & beverages segment is expected to register a CAGR of over 37.3% over the forecast period, thereby accounting for highest revenue share among the application segments.
By region: The market in APAC accounted for highest revenue share in the global Carboxylic Acids market in 2020, and is estimated to register a CAGR of over 42.5% between 2020 and 2030.
Global Carboxylic Acids Market: Competitive Analysis
The research report on the global Carboxylic Acids market includes profiles of major companies such as BASF SE, Dow, Inc., Lyondellbasell Industries Holdings B.V., Thermo Fisher Scientific, Inc., Eastman Chemical Co., Celanese Corp, Perstorp Holding AB, Jiangsu SOPO (Group) Company Limited, Ashok Alco-Chem Ltd., OQ SAOC, Finetech Industry Limited.
The Global Carboxylic Acids Market: Global Industry, Size, Share, Growth, Trends, and Forecast, 2020–2030 report has been prepared based on an in-depth market analysis with inputs from industry experts. This report covers the present scenario and the growth prospects of the global Carboxylic Acids Market for 2020–2030.
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