Global Carboxylic Acid Market by Product Type (Acetic Acid, Propionic Acid, Butyric Acid and Others), By End-Use Industry (Food & Beverages, Pharmaceuticals, Personal Care & Cosmetics and Others) and by Region – Global Forecast to 2030

MarketResearch.Biz announces publication of its most recently generated research report titled, “Global Carboxylic Acid Market by Product Type (Acetic Acid, Propionic Acid, Butyric Acid, Valeric Acid, Caproic Acid, and Other Product Types), By End-Use Industry (Food & Beverages, Pharmaceuticals, Personal Care & Cosmetics, and Other End-Use Industries), and by Region – Global Forecast to 2030”, which offers a holistic view of the Global Carboxylic Acid Market through systematic segmentation that covers every aspect of the target market. The Global Carboxylic Acid Market is projected to be US$ 15,512.2 Mn in 2020 to reach US$ 25,760.1 Mn by 2030 at a CAGR of 5.3%.

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. Carboxylic acids are weaker than mineral acids such as sulfuric acid and hydrochloric acid, and acidic than other hydroxyl-containing organic compounds. For producing compounds such as amines, aldehydes, and ketones, the carboxylic acid is used as precursors. These are also derived from fossil fuels such as coal, gas, or oil. Earlier, some of the carboxylic acids were produced from sugar fermentation. Chemicals, pharmaceuticals, food, and fuel industries rare the application of carboxylic acids.

Global Carboxylic Acid Market Revenue (US$ Mn), 2020–2030 The 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.  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.

Citric acid is widely used in carbonated beverages and is one of the preferred additives for syrup concentrates. For swiss cheese production, propionic acid and acetic acid are used. Carboxylic acids such a benzoic and sorbic acid are used as food preservatives as they can kill microorganisms. Robust growth of the food & beverage industry is expected to support the carboxylic acid market's growth.

The increasing popularity of bio-based chemicals with advances in manufacturing technology in development for carboxylic acid use in several applications creates an opportunity for the market in the coming years.

Global Carboxylic Acid Market Attractiveness Analysis by Product Type, 2014–2030

Chemicals require approvals by regulatory authorities, and the rising number of regulations on chemicals might discourage some small players and may hamper the growth of the market. The laws also differ from country to country for chemical manufacturing, supply, registration, evaluation, etc. Particularly in developing countries, this may restrain market growth.

The research report on the Global Carboxylic Acid Market includes profiles of some of the 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.

Global Carboxylic Acid Market Segmentation:

By Product Type:

• Acetic Acid
• Propionic Acid
• Butyric Acid
• Valeric Acid
• Caproic Acid
• Other Product Types

By End-Use Industry:

• Food & Beverages
• Pharmaceuticals
• Personal Care & Cosmetics
• Other End-Use Industries

By Region:

• North America
• Europe
• APAC
• South America
• MEA