Reliable Data You Can Trust
Reliable Data You Can Trust
A recent report published by Infinium Global Research on the carboxylic acid market provides an in-depth analysis of segments and sub-segments in the global as well as regional carboxylic acid market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional carboxylic acid market over the short term as well as the long term. The report is a comprehensive presentation of trends, forecasts, and dollar values of the global carboxylic acid market. According to the report, the global carboxylic acid market is projected to grow at a CAGR of over 5% over the forecast period of 2022-2028.
Carboxylic acid is an organic compound, the general formula of is R-C (O) OH. R is the alkyl or aryl group. Carboxylic acids are widely present in nature. The double bond found in carboxylic acid structures is crucial to the characteristics of the many carboxylic acid compounds. This compound has a strong odor and a high boiling point. Carboxylic acid is commonly used as an industrial compound for the manufacturing of products such as rubber, soaps, detergents, textiles, dyes, perfumes, and others. It is also preferred in the production of animal feed, and in the pharmaceutical industry, it is used in medication. Compounds with fatty acids are also used in the manufacture of plastics, crayons, and grease.
The Increasing demand for natural preservatives and additives for sour taste in food and drinks is driving the growth of the carboxylic acid market. The food and beverage industry is using this chemical for the production of a broad range of products, for instance, fermenting cider and honey in the presence of oxygen, helps to produce vinegar used in the food service industry for cooking. Along with this, Citric acid is also popular in the beverage industry and is widely used in carbonated beverages, due to its buffering properties. Moreover, an increase in the population is driving the pharmaceuticals segment leading to the growth of the carboxylic acid market. The strict rules applied to the production of petroleum-based carboxylic acids is hampering the growth of the carboxylic acid market. Although, high investment in production capacities of pharmaceutical, plastic, and lubricant industries in a number of countries like India, China, Indonesia, and South Korea is expected to provide lucrative opportunities in the growth of carboxylic acid during the projected period.
The carboxylic acid market is segmented into North America, Europe, Asia Pacific, and the rest of the world. Asia-Pacific is expected to hold a significant share of the carboxylic acid market due to the high development in the industrial sector. Asia-Pacific region includes the countries like China, Japan, and other developing countries like India, and Vietnam, which consist of high potential for growth in the different industrial sectors, which boosts the growth of the carboxylic acid market in this region. Additionally, the major growth factor of the carboxylic acid market is advancement in various industrial areas such as the consumer goods industry, food & beverages industry, and textile industries. North American region is also witnessing high demand for carboxylic acid owing to the large demand of products for the formulation of antibiotics, anticoagulants, cholesterol-lowering satins, and anti-inflammatory drugs. The increasing use of carboxylic acid in different sectors is supporting the growth of the market.
The report on the global carboxylic acid market covers segments such as product, and end user. On the basis of product, the sub-markets include acetic acid, propionic acid, butyric acid, and others. On the basis of end user, the sub-markets include food & beverages, flavors & fragrances, life sciences, and others.
The report provides profiles of the companies in the market such as The Ohio Water Environment Association, BASF SE, Celanese Corporation, Dow Inc., LyondellBasell Industries N.V., Eastman Chemical Company, FINETECH INDUSTRY LIMITED, Perstorp Group, Jiangsu SOPO (Group) Co., Ltd, and Hanwha Solutions Corporation.
The report provides deep insights into demand forecasts,
market trends, and micro and macro indicators. In addition, this report provides
insights into the factors that are driving and restraining the growth in this
market. Moreover, The IGR-Growth Matrix analysis given in the report brings insight into the investment areas that existing or new market players can
consider. The report provides insights into the market using analytical tools
such as Porter's five forces analysis and DRO analysis of the carboxylic acid
market. Moreover, the study highlights current market trends and provides
forecasts from 2022-2028. We also have highlighted future trends in the market
that will affect the demand during the forecast period. Moreover, the
competitive analysis given in each regional market brings insight into the
market share of the leading players.
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