Carboxylic Acid Market is Probable to Influence the Value of USD 14820.96 Million by 2029, Size, Share, Trends, Demand, Growth, Challenges and Competitive Analysis

PRESS RELEASE
Published June 22, 2023

Carboxylic Acid Market research report delivers widespread analysis of the market structure along with the estimations of the various segments and sub-segments of the market. This industry report also contains detailed profiles of market’s major manufacturers and importers who are dominating the market. Furthermore, the statistical and numerical data such as facts and figures are represented very precisely in the market report by using charts, tables, or graphs. The transformation in market landscape is mainly observed due to the moves of key players or brands which include developments, product launches, joint ventures, mergers, and acquisitions that in turn change the view of the global face of the industry.

Global carboxylic acid market was valued at USD 9879.85 million in 2021 and is expected to reach USD 14820.96 million by 2029, registering a CAGR of 5.2% during the forecast period of 2022-2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.

Business intelligence is an essential aspect when it comes to accomplish thorough and wide-ranging market insights and the same is applied for building Carboxylic Acid Market research report. Commitment, quality, dedication, and transparency in the market research report are all followed throughout to give the best service to the clients. Not to mention, this report delivers an in-depth study with respect to present and upcoming opportunities which shed light on the future investment in the market. So, to achieve competitive advantage and to thrive in the market, go for the comprehensive Carboxylic Acid Market report.

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Market Definition

Carboxylic acid is a polar chemical molecule of the carboxyl functional group that deprotonates to create carboxylate anion. Because of the strong hydrogen bonding, these compounds have a higher boiling point than water. Carboxylic acid groups are more acidic than other organic molecules containing hydroxyl groups, but less acidic than mineral acids like sulfuric acid and hydrochloric acid.

Some of the major players operating in the carboxylic acid market are

  • Alcoa Corporation (U.S.)
  • Thirumalai Chemicals Ltd. (India)
  • Rio Tinto (Australia)
  • RUSAL (Russia)
  • Norsk Hydro A.S.A. (Norway)
  • Emirates Global Aluminium PJSC (U.A.E)
  • Aluminum Bahrain B.S.C. (Bahrain)
  • Century Aluminum Company (U.S.)
  • Vedanta Ltd. (India)
  • China Aluminum Corporation (China)
  • Merck KGaA (Germany)
  • REDOX INDUSTRIES LIMITED (India)
  • China Hongqiao (China)
  • H.P. (Australia)
  • East Hope Group (China)
  • ACURO ORGANICS LIMITED (India)
  • Emirates Global Aluminum (U.A.E.)
Carboxylic Acid Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers

  • High Demand Across End Users

The factors such as rising demand for vinyl acetate monomer, expanding use of organic acid in the animal feed sector, and expansion in the cosmetic and personal care industry are likely to boost carboxylic acid market growth. Moreover, the increased use of carboxylic derivatives, notably in the food and beverage and cosmetic industries, is expected to drive global market expansion. Carboxylic acid derivate are in high demand in the manufacture of soft drinks, vinegar, cheese, vegetable oils, and other culinary products. These factors will boost the market growth during the forecast period.

  • Increased Requirements for Biomass-derived Carboxylic Acids 

The high prevalence of radiation dermatitis is a key driver of the worldwide carboxylic acid market’s rise. Prophylactic treatment of Benzene-Poly-Carboxylic Acid and Molybdenum Complex (BP-C2) to the skin of mice may protect them from irradiation-induced dermatitis. Such findings are important in the treatment of irradiation-induced skin dermatitis in humans. Moreover, the advancements in catalytic routes for carboxylic acid production from biomass have largely accelerated the market growth.

The surging usage of organic acids due to their antimicrobial benefits as well as the high nutritional value as animal feed additives and agrochemical-market-749′>agrochemical formulations will further propel the growth rate of carboxylic acid market. Additionally, the escalating consumption rate of poultry and swine for their health beneficiary protein content will also drive market value growth. The growing use of organic acid in animal feed industry to prevent growth of microbes combined with recognition of its beneficial properties such as the high strength, lightweight, corrosion resistance, immense flexibility, good holder of thermal and electrical conductivity are also projected to bolster the growth of the market.

Opportunities

  • Surge in Awareness and Regulations

Furthermore, the rise in awareness about nutrition enrichment among farmers extends profitable opportunities to the market players in 2022 to 2029. Additionally, the various regulations regarding banning of antibiotic growth promoters in animal feed, especially for swine, poultry and cattle will further expand the future growth of the carboxylic acid market.

Restraints/Challenges

  • Stringent Regulations

The strict rules and norms associated with the production of petroleum-based carboxylic acids will create hindrances for the growth of the carboxylic acid market.

  • Health Hazards Associated with Carboxylic Acid

However, the health risks connected with the usage of some carboxylic acids in high concentrations are anticipated to stymie worldwide market expansion. For example, when a large amount of short-chain carboxylic acid accumulates in the human body, cytotoxic effects of short-chain carboxylic acid have been found in gingival epithelial cells.

  • Availability of Substitutes

Also, the threat of natural and organic substitutes will prove to be a demerit for the carboxylic acid market. Therefore, this will challenge the carboxylic acid market growth rate.

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Some of the major players operating in the carboxylic acid market are

  • Alcoa Corporation (U.S.)
  • Thirumalai Chemicals Ltd. (India)
  • Rio Tinto (Australia)
  • RUSAL (Russia)
  • Norsk Hydro A.S.A. (Norway)
  • Emirates Global Aluminium PJSC (U.A.E)
  • Aluminum Bahrain B.S.C. (Bahrain)
  • Century Aluminum Company (U.S.)
  • Vedanta Ltd. (India)
  • China Aluminum Corporation (China)
  • Merck KGaA (Germany)
  • REDOX INDUSTRIES LIMITED (India)
  • China Hongqiao (China)
  • H.P. (Australia)
  • East Hope Group (China)
  • ACURO ORGANICS LIMITED (India)
  • Emirates Global Aluminum (U.A.E.)
Global Carboxylic Acid Market Scope

The carboxylic acid market is segmented on the basis of product and end-users. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product

  • Acetic Acid
  • Valeric Acid
  • Isovaleric Acid
  • Formic Acid
  • Propionic Acid
  • Butyric Acid
  • Isobutyric Acid
  • Citric Acid
  • Caproic Acid
  • Stearic Acid
  • Others

End- Users

  • Food and beverages
  • Animal Feed
  • Pharmaceuticals
  • Personal care and Cosmetics
  • Consumer Goods
  • Lubricants
  • Others

Carboxylic Acid Market Regional Analysis/Insights

The Carboxylic Acid market is analyzed and market size insights and trends are provided by country, material type, end user and application as referenced above.

The countries covered in the Carboxylic Acid market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period of 2022-2029. The market growth over this region is attributed to the high demand for fiber cement Carboxylic Acid within the region. Asia-Pacific on the other hand, is estimated to show lucrative growth over the forecast period of 2022-2029, due to the prominent presence of fiber cement Carboxylic Acid market players within the region. Moreover, the high requirement for the residential and commercial building construction also boosts the regional demand.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter’s five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

The report answers questions such as:

  1. What is the market size and forecast of the Carboxylic Acid Market?
  2. What are the inhibiting factors and impact of COVID-19 shaping the Carboxylic Acid Market during the forecast period?
  3. Which are the products/segments/applications/areas to invest in over the forecast period in the Carboxylic Acid Market?
  4. What is the competitive strategic window for opportunities in the Carboxylic Acid Market?
  5. What are the technology trends and regulatory frameworks in the Carboxylic Acid Market?
  6. What is the market share of the leading vendors in the Carboxylic Acid Market?
  7. What modes and strategic moves are considered suitable for entering the Carboxylic Acid Market?

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