27-Aug-2020 | Zion Market Research
Based on the analytical study carried out by the Zion Market Research analysts, the global butyric acid market is projected to boost from around USD 256 million in 2019 to more than USD 666.42 million by the end of 2026, mounting at a CAGR of nearly 14.9% in the forecast period. Butyric acid is a carboxylic acid and is soluble in both organic and organic solvents. The acid is used to prepare low molecular weight butyrate esters, of which one is methyl butyrate. The compound has strong odor and taste, therefore, it is used as perfume and food additive. Even EU FLAVIS has approved it as a food flavoring product.
The global market report has summarized the leading manufacturers of butyric acid implementing several approaches to hold the major share of the global market. Some of the global players are Beijing Huamaoyuan Fragrance Flavor Co. Ltd. , Blue Marble Biomaterials, Perstorp Holding AB, Eastman Chemical Company, Tokyo Chemical Industry Co. Ltd., OXEA GmbH, and Snowco industrial Co. Ltd.
Scarcity Of Gasoline And Hike In Petroleum Prices Likely To Boost The Butyric Acid Market
The waste processing and agriculture industry have accounted for higher production of butyric acid. The compound has a wide range of applications particularly in the pharmaceutical, chemical, and food industries. Butyric acid holds a key significance in the chemical industry, as it is being used as a precursor to biofuels. Within the past few years, more focus has been directed toward research and development activities on butyric acid as the petroleum price is constantly hiking and crude oil is scarce. Biofuels offer several ecological advantages over petroleum such as adequate availability and a considerable decline in the emission of greenhouse gases. Besides being used as an important industrial solvent, bio-butanol is expected to be used as a commercial transportation fuel in the coming few years. All the above-mentioned factors are pointing toward the rising demand of the acid during the forecast period.
The global butyric acid market report has segmented the market on the basis of product type, application, and geography. Based on the product type, the global market is categorized into natural/renewable and synthetic butyric acid. Natural or renewable butyric acid is manufactured from several natural resources such as corn husk, whereas the method for the production of the latter ones involves oxidation of butyraldehyde and is used at the industrial scale. By application, the market is bifurcated into food, chemical intermediate, animal feed, perfumes, pharmaceuticals, and others. Among the application, the animal feed was holding a prominent position in the global market.
Highly Developed Agriculture Sector Encourages The Asia Pacific To Grab The Major Share In The Butyric Acid Market
The butyric acid market in the Asia Pacific is likely to develop at a remarkable CAGR owing to rising demand for the compound in the animal feed and pharmaceutical applications. The countries with well-established agriculture sector such as India and China are likely to further boost the market growth during the projected period. Moreover, the establishment of a large number of butyric acid manufacturers in the region also augments the product demand. After the Asia Pacific, North America and Europe are the next two dominant regions in the market particularly due to the establishment of renowned pharmaceutical and food industries.
Browse the full “Global Butyric Acid Market - By Product Type (Natural/Renewable And Synthetic Butyric Acid), By Application (Food, Chemical Intermediate, Animal Feed, Perfumes, Pharmaceuticals, And Others), And By Region - Global Industry Perspective, Comprehensive Analysis, And Forecast, 2020 – 2026.” Report at https://www.zionmarketresearch.com/report/butyric-acid-market
The global butyric acid market is segmented as follows:
By Product Type:
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