The North America Malonic Acid Market would witness market growth of 2.6% CAGR during the forecast period (2023-2030). In the year 2019, the North America market's volume surged to 3614.2 tonnes, showcasing a growth of 1.8% (2019-2022).
Malonic acid is a carboxylic acid with the chemical formula C3H4O4. It dissolves in ethanol and water and is a crystalline powder with a sharp taste. It is a key precursor in the synthesis of barbiturates, which are central nervous system depressants used as sedatives and anticonvulsant medications.
Additionally, it is vital in synthesizing thiamine (Vitamin B1), an essential nutrient in energy metabolism and nerve function. It produces agrochemicals and pesticides, improving crop protection and agricultural productivity.
As per the International Trade Administration (ITA), in the first half of 2022, the Canadian cosmetics industry was the fastest-growing industry in the country. In 2022, Canada's personal care and beauty sector earned around $11 billion in revenue. This and its derivatives are known for their moisturizing properties, which can benefit anti-aging skincare formulations in Canada.
The US market dominated the North America Malonic Acid Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $22324.1 Thousands by 2030. Canada market is experiencing a CAGR of 3% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 3.6% during (2023 - 2030).
Based on Application, the market is segmented into Flavor Enhancer, API, Additive, pH Controller, Precurser, and Others. Based on End Use, the market is segmented into Food & Beverage, Pharmaceutical, Agriculture, Plastics, Paints & Coatings, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Malonic acid is a carboxylic acid with the chemical formula C3H4O4. It dissolves in ethanol and water and is a crystalline powder with a sharp taste. It is a key precursor in the synthesis of barbiturates, which are central nervous system depressants used as sedatives and anticonvulsant medications.
Additionally, it is vital in synthesizing thiamine (Vitamin B1), an essential nutrient in energy metabolism and nerve function. It produces agrochemicals and pesticides, improving crop protection and agricultural productivity.
As per the International Trade Administration (ITA), in the first half of 2022, the Canadian cosmetics industry was the fastest-growing industry in the country. In 2022, Canada's personal care and beauty sector earned around $11 billion in revenue. This and its derivatives are known for their moisturizing properties, which can benefit anti-aging skincare formulations in Canada.
The US market dominated the North America Malonic Acid Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $22324.1 Thousands by 2030. Canada market is experiencing a CAGR of 3% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 3.6% during (2023 - 2030).
Based on Application, the market is segmented into Flavor Enhancer, API, Additive, pH Controller, Precurser, and Others. Based on End Use, the market is segmented into Food & Beverage, Pharmaceutical, Agriculture, Plastics, Paints & Coatings, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
List of Key Companies Profiled
- Trace Zero LLC
- Lygos Inc.
- Wuhan Amino Acid Bio-Chemical Co., Ltd
- Hefei TNJ Chemical Industry Co.,Ltd.
- Hebei jingye group
- Shandong Lixing Chemical Co. Ltd.
- Nanjing Perlove Medical Equipment Co., Ltd.
- Wacker Chemie AG
- Thermo Fisher Scientific, Inc.
- Lonza Group Ltd.
Market Report Segmentation
By Application (Volume, Tonnes, USD Million, 2019-2030)- Flavor Enhancer
- API
- Additive
- pH Controller
- Precurser
- Others
- Food & Beverage
- Pharmaceutical
- Agriculture
- Plastics
- Paints & Coatings
- Others
- US
- Canada
- Mexico
- Rest of North America
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 5. North America Malonic Acid Market by Application
Chapter 6. North America Malonic Acid Market by End-Use
Chapter 7. North America Malonic Acid Market by Country
Chapter 8. Company Profiles
Companies Mentioned
- Trace Zero LLC
- Lygos Inc.
- Wuhan Amino Acid Bio-Chemical Co., Ltd
- Hefei TNJ Chemical Industry Co.,Ltd.
- Hebei jingye group
- Shandong Lixing Chemical Co. Ltd.
- Nanjing Perlove Medical Equipment Co., Ltd.
- Wacker Chemie AG
- Thermo Fisher Scientific, Inc.
- Lonza Group Ltd.
Methodology
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