The global Butyric Acid market was valued at USD 163.6 million in 2016 and is projected to reach USD 557.8 million by 2025, growing at a CAGR of 14.6% from 2017 to 2025.
Butyric Acid is a fatty acid majorly derived from animal fats. It is majorly used in the manufacture esters that are used in various applications such as pharmaceuticals, food and chemical intermediates. The development of renewable butyric acid is expected to play a major role in driving market demand.
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1. Market Drivers
1.1 Rising demand in end-use industries
1.2 Growing demand for renewable butyric acid
2. Market Restraints
2.1 Fermentation process of butyric acid is relatively expensive than chemical synthesis.
The global Butyric Acidmarket is segmented on the product, applicationand region.
1. By Product:
1.1 Synthetic Butyric Acid
1.2 Renewable Butyric Acid
2. By Application:
2.1 Chemical Intermediate
2.2 Animal Feed
2.5 Food and Flavors
3. By Region:
3.1 North America (U.S., Canada, Mexico)
3.2 Europe (Germany, UK, France, Rest of Europe)
3.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
3.4 Latin America (Brazil, Argentina, Rest of Latin America)
3.5 Middle East & Africa
The major players in the market are as follows:
1. Eastman Chemical Company
2. Oxea GmbH
3. Blue Marble Biomaterials LLC
4. Tokyo Chemical Industry Co. Ltd.
5. Perstorp Holding AB
6. Snowco Industrial Co. Ltd.
7. Beijing Huamaoyuan Fragrance Flavor Co. Ltd.
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
RESEARCH METHODOLOGY OF VERIFIED MARKET INTELLIGENCE:
Research study on the Butyric Acid market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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