Global Carboxylic Acids Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028
“Global Carboxylic Acids Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global carboxylic acids market report has been segmented on the basis of product, end user, and region.
Global Carboxylic Acids Market: Overview
Carboxylic acid class of organic compounds in which a carbon (C) atom is bonded to an oxygen (O) atom by a double bond and to a hydroxyl group (―OH) by a single bond. Carboxylic acids are classified according to the substituent bonded to the carboxyl group. An aliphatic acid has an alkyl group bonded to the carboxyl group, while an aromatic acid has an aryl group.
Compounds containing the carboxyl group are distinctly acidic and are called carboxylic acids. The carboxyl group is one of the most widely occurring functional groups in chemistry and biochemistry. In conclusion, the carboxylic acids have been widely applied in different areas, highlighting organic synthesis, nanotechnology and polymers, have been used in basic applications until relevant application.
Global Carboxylic Acids Market: Dynamics
Rapid industrialization in developed and developing countries and wide applicability of carboxylic acid in surface modification of nanoparticles such as carbon nanotubes, single wall and multiple walls, graphene, nanofibers, etc. are major factor expected to drive growth of the global market. In addition, increasing adoption of carboxylic acid in production of polymer films that have improved optical properties due to use of different long carbon chain atoms is another factor expected to further boost growth of the global market.
Moreover, increasing R&D activities by major players in co-operation with the government, increasing government expenditure on pharmaceutical sector, coupled with high demean for carboxylic acid by manufacturers in various medicinal preparation are among other factors expected to further support growth of the global market to certain extent.
However, high cost of carboxylic acid is a major factor expected to hamper growth of the global market. In addition, stringent government regulations related to production of petroleum-based carboxylic acids and easy availability of substitute are some other factors expected to limit growth of the global market to certain extent.
Global Carboxylic Acids Market: Segment
Among the product segments, the acetic acid segment is expected to dominate in the target market over the forecast period.
Among the end user segments, the food & beverage segment is expected to contribute significant revenue shares in the target market over the forecast period.
Global Carboxylic Acids Market: Region
The market in Asia Pacific is expected to dominate in the global market and is expected to continue its dominance over the forecast period. This dominance can be attributed to increasing demand for acetic acid, high adoption by textile industry, and presence of major manufacturers operating in emerging economies in this region.
The markets in North America and Europe are expected to contribute significant revenue shares. This is due to flourishing cosmetic industry and increasing demand for carboxylic acid by cosmetic manufacturers operating in these countries in this region. In addition, increasing public-private partnership for R&D activities is expected to further support growth of the target market in these region.
Global Carboxylic Acids Market Segmentation
Segmentation by product
- Acetic acid
- Valeric acid
- Isovaleric acid
- Formic acid
- Propionic acid
- Others (Butyric acid, Isobutyric acid, Citric acid, Caproic acid, Stearic acid, and Benzoic acid)
Segmentation by end-user
- Food & Beverages
- Animal Feed
- Personal Care & Cosmetics
- Others (Consumer Goods, Lubricants, Agrochemicals, Textiles, Chemical Intermediates, and Rubber)
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2020 Estimated Year 2021 Forecast Period 2021–2030 Revenue in US$
- BASF SE
- Celanese Corporation
- LyondellBasell Industries N.V.
- Jiangsu Sopo Group
- Eastman Chemical Company
- Dow Chemical Company
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