The global choline chloride market accounted for US$ 662.5 Mn in 2018 and is expected to grow at a CAGR of 5.0% during the forecast period 2019 - 2027, to account to US$ 1,019.5 Mn by 2027
NEW YORK, Nov. 27, 2019 /PRNewswire/ --
The global choline chloride market accounted for US$ 662.5 Mn in 2018 and is expected to grow at a CAGR of 5.0% during the forecast period 2019 - 2027, to account to US$ 1,019.5 Mn by 2027. Choline chloride is defined as an organic compound containing both quaternary ammonium salt and alcohol and is bi-functional. Choline chloride is primarily used as a feed additive for accelerating animal growth in which the animal feed has experienced a significant increase in the past few years. Choline chloride is soluble in water and alcohol. It consists of deliquescent white crystals of neutral pH that makes it compatible to be consumed in the powdered or liquid form. It is naturally found in hop, fungi, kingcups, and internal part of lecithin. Choline chloride has also found a profound place in the feed and oil and gas industry and has been estimated to create a significant opportunity for the choline chloride market all over the globe.
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Based on the end-use industry, the choline chloride market is categorized into the feed industry, human nutrition, oil and gas industry, and others.Choline chloride is used as a clay stabilizer in the oil and gas industry.
Clays contain typically sodium, cations that form the base, exchange sites, or positions, and it swells in the presence of water.Choline chloride is low viscosity liquids, non-toxic, and is readily available for use.
The choline chloride is highly active clay stabilizer liquids that have an activity of 75% that can be used in all environments and doesn't face the issue of crystallization as compared to potassium chloride.These properties of choline chloride have been the contributing factors for its application in the oil and gas industry.
The growing awareness of the features of choline chloride as a clay stabilizer in the oil and gas industry has been estimated to create an upsurge in the coming years all over the globe.
Growing demand by the poultry feed is driving the growth of the choline chloride market.Choline chloride is a vital feed additive that is primarily used in poultry feed.
Choline chloride, i.e., 2-hydroxyethyl-trimethyl ammonium hydroxide, is a rich source of vitamin B4 that has recently been claimed as a performance promoter in poultry. Choline in poultry feed helps in the prevention of conditions such as liver enlargement and perosis. Most significantly, the compound acts as a lipotropic agent that helps avoid the abnormal fatty infiltration in the liver and ensures proper metabolism of the body. The increasing awareness and implementation of choline chloride coupled, with the functional properties of choline, have also favored the choline chloride market growth all over the globe.
Some of the players present in global choline chloride market are BASF SE, Jubilant Life Sciences Ltd., Balaji Amines Ltd., Be-Long Corporation, Balchem Corporation, Algry Química S.L., NB Group Co., Ltd., Pestell Minerals & Ingredients Inc., Eastman chemical company, and GHW Eurochemicals S.R.O among others.
The overall global choline chloride market size has been derived using both primary and secondary source.The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the choline chloride market.
Also, multiple primary interviews were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the choline chloride market.
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