The butyric acid market was valued at US$ 183. 48 million in 2021 and is projected to reach US$ 484. 55 million by 2028; it is expected to grow at a CAGR of 14. 9% from 2021 to 2028. The butyric acid market is mainly driven by an increasing demand from the animal feed sector.
New York, April 22, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Butyric Acid Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Source and Application" - https://www.reportlinker.com/p06269983/?utm_source=GNW
Butyric acid offers many benefits when used in animal nutrition.
Moreover, the acid has many applications in the pharmaceutical industry.Butyric acid is one of the most beneficial short-chain fatty acids that play a key role in uplifting digestive health, managing weight, and preventing cancer.
The strong growth of the pharmaceutical industry in different countries across the globe is propelling the use of butyric acid for various applications.Furthermore, there is an increasing interest in using butyric acid as a precursor for producing biofuels.
This is expected to offer lucrative opportunities for the growth of butyric acid market during the forecast period.
The global butyric acid market, based on source, is bifurcated into renewable butyric acid and synthetic butyric acid.The synthetic butyric acid segment held a larger market share in 2020.
Synthetic butyric acid is majorly used at the industrial scale and produced via chemical synthesis.The synthetic butyric acid is utilized in the production of printing inks, disinfectants, flavors, medicines, and perfumes.
The synthetic butyric acid is also used to manufacture butyrate of cellulose acetate (CAB), which is used in a wide range of devices, components, and coatings.
In 2020, Asia Pacific held the largest revenue share of the global butyric acid market.The market in Asia Pacific is subsegmented into Australia, China, India, Japan, South Korea, and the rest of Asia Pacific.
Countries in the Asia Pacific region, such as China and India are major consumers of butyric acid.Butyric acid is used in the production of chemical intermediates utilized in the chemical synthesis of butyrate esters, cellulose acetate butyrate (CAB), and methyl butyrate.
These chemical intermediates find significant applications in perfumes, inks, paints, and coatings.Thus, the large-scale use of butyric acid in chemical intermediate production bolsters the market growth in Asia Pacific.
In India, growing demand of poultry meat and other chemical intermediaries are propelling the growth of the butyric acid market.
Eastman Chemical Company; OQ Chemicals GmbH; Tokyo Chemical Industry Co., Ltd.; Perstorp Holding AB; Alfa Aesar; MERCK KGaA; Vigon International, LLC.; Hefei TNJ Chemical Industry Co., Ltd.; KUNSHAN ODOWELL CO., LTD; and Yufeng International Co., Ltd. are among the players operating in the global butyric acid market. Market players operate their production and distribution services in various countries worldwide, which helps them cater to a wider customer base. Market players are highly focused on the development of high quality and innovative services offerings to fulfil the customer’s requirements.
The overall global butyric acid market size has been derived using both primary and secondary source.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
Also, multiple primary interviews have been conducted with industry participants to validate the data, as well as to gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the butyric acid market.
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