Butyric Acid Market is Projected to Exceed $405 Million by 2027, Says Global Market Insights Inc.
Growing demand for biofuel and gradually increasing consumer concern towards the environment is projected to fuel the butyric acid market across the globe, says this report.
SELBYVILLE, Del., March 25, 2021 /PRNewswire/ -- Based on Global Market Insights Inc., report, the global Butyric Acid Market size was estimated at $175 million in 2020 and is slated to surpass $405 million by 2027, registering a CAGR of 13.2% from 2021 to 2027. The report provides a comprehensive analysis of the top winning strategies, wavering industry trends, drivers & opportunities, top investment avenues, competitive scenarios, market estimations & size.
Changing lifestyles and lack of time to prepare and consume healthy food are shifting consumer attention toward ready-to-eat packaged food, thus raising the product demand and supporting market growth.
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Growing demand for aesthetic packing products is one of the significant reasons that fueling the butyric acid market sales from plasticizer applications. Moreover, the increasing working population especially from the women demographic has uplifted the market demand. Additionally, increasing infrastructural activities and supportive government regulation have driven the market demand for paints and coating as butyric acid is used as a solvent.
Rapid industrialization, growing food & beverage industries, and increasing demand for flavoring additives are stipulating towards the butyric acid market growth with the CAGR of 12.5% through 2027. Increasing individual spending on personal care products is witnessing favorable growth to the market by cosmetic application. The cosmetic industry is anticipated to grow over USD 17.5 million from the cosmetic application by the end of 2027.
Butyric Acid market from plasticizer application is growing at a CAGR of over 11% by the end of 2027 owing to demand for ready-to-eat and packaged food. Butyric acid is used as plastics as a raw material for cellulose acetate butyrate (CAB). Moreover, leather tanning application is projected to gain traction with a CAGR of 9.5% in the market owing to increasing demand for luxurious and fashionable products.
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Europe and Asia-Pacific region to witness remunerative growth:
Europe region is expected to witness considerable growth with a CAGR of 13 % in the global butyric acid market share in the coming years owing to rapidly increasing research and development activities for pharmaceutical preparations. Moreover, Asia Pacific is likely to grow with a CAGR of over 13.5 % by the end of 2027 owing to increasing its usage to promote animal health and production.
Robust demand for natural or less toxic chemicals in the region is primarily driven by rising government funding and heavy investments by major players in research & development activities. Furthermore, increasing innovations, research institutes, economic developments are some of the key factors that fuel the growth of the chemical industry and concurrently butyric acid market.
Leading market players:
Some of the key players operating in the butyric acid industry are OXEA GmbH, Beijing Huamaoyuan Fragrance Flavor Co., Ltd., Perstorp Holding AB, Dmitrievsky Chemical Plant, Eastman Chemical Company, Tokyo Chemical Industry Co. Ltd., Blue Marble Biomaterials, Snowco Industrial Co., Ltd., Alfa Aesar GmbH & CO KG.
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About Global Market Insights Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting and business intelligence services, Global Market Insights, Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.
GMIPulse, our business analytics platform offers an online, interactive option of exploring our proprietary industry research data in an easy-to-use and dynamic manner. Clients get to explore market intelligence across 11 top level categories and hundreds of industry segments within them, covering regional, company level and cross-sectional statistics that make our offering a stand-out for decision makers.
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Arun Hegde
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Global Market Insights, Inc.
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Butyric Acid Market Overview - 2027
SOURCE Global Market Insights Inc.
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