The scope of the recent study on the “Butyric Acid Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Source (Renewable Butyric Acid and Synthetic Butyric Acid) and Application (Printing Inks, Animal Feed, Food Flavors and Food Fragrances, Chemical Intermediates, Pharmaceutical, and Others)” includes the factors fueling the market growth, revenue estimation and forecast, and market share analysis, along with the identification of significant market players and their key developments.
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. Butyric acid is a colorless liquid with a penetrating and unpleasant odor. The butyric acid market is a competitive one due to the presence of many domestic and global players. Market players adopt strategies such as research and development investments, and new product innovations to gain an edge over their competitors.
Based on application, the global butyric acid market is segmented into printing inks, animal feed, food flavors and food fragrances, chemical intermediates, pharmaceutical, and others. The animal feed segment held the largest share of the market in 2020. The butyric acid market for the animal feed segment is growing at a significant rate due to the rising demand for quality meat products across the world.
The global butyric acid market is segmented into five main regions - North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South & Central America. Asia Pacific held the largest market share in 2020. In Asia Pacific, there is a growing number of livestock farms because of the increased demand for superior-quality meat products due to improving per capita income and growing health consciousness among people in several Asia Pacific countries. This is subsequently leading to the proliferation of the market.
Many economies were adversely affected due to the COVID-19 pandemic. The butyric acid market in North America also experienced the tremors of the disturbed raw material supply chains and limited operational efficiencies. The disruptions in the raw material supply chain and reduced demand from the downstream sectors has adversely impacted the growth of the market. In Europe, animal feed production fell because the pandemic affected consumer demand for products of animal origin. In Europe, during the Q3 of 2021, the prices of butyric acid escalated due to the recovery of the various industrial activities.
Based on source, the global market is segmented into renewable butyric acid and synthetic butyric acid. Based on application, the market is segmented into printing inks, animal feed, food flavors and food fragrances, chemical intermediates, pharmaceutical, and others. By geography, the market is broadly segmented into North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South & Central America. North America includes countries like the US, Canada, and Mexico. Europe includes Germany, France, the UK, Italy, Russia, and the Rest of Europe. Asia Pacific includes China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. The Middle East & Africa (MEA) includes South Africa, Saudi Arabia, UAE, and the Rest of MEA. South & Central America includes Brazil, Argentina, and the Rest of South & Central America.
Reasons to Buy
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. Butyric acid is a colorless liquid with a penetrating and unpleasant odor. The butyric acid market is a competitive one due to the presence of many domestic and global players. Market players adopt strategies such as research and development investments, and new product innovations to gain an edge over their competitors.
Based on application, the global butyric acid market is segmented into printing inks, animal feed, food flavors and food fragrances, chemical intermediates, pharmaceutical, and others. The animal feed segment held the largest share of the market in 2020. The butyric acid market for the animal feed segment is growing at a significant rate due to the rising demand for quality meat products across the world.
The global butyric acid market is segmented into five main regions - North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South & Central America. Asia Pacific held the largest market share in 2020. In Asia Pacific, there is a growing number of livestock farms because of the increased demand for superior-quality meat products due to improving per capita income and growing health consciousness among people in several Asia Pacific countries. This is subsequently leading to the proliferation of the market.
Impact of COVID-19 Pandemic on Butyric Acid Market
Many economies were adversely affected due to the COVID-19 pandemic. The butyric acid market in North America also experienced the tremors of the disturbed raw material supply chains and limited operational efficiencies. The disruptions in the raw material supply chain and reduced demand from the downstream sectors has adversely impacted the growth of the market. In Europe, animal feed production fell because the pandemic affected consumer demand for products of animal origin. In Europe, during the Q3 of 2021, the prices of butyric acid escalated due to the recovery of the various industrial activities.
Global Butyric Acid Market Breakdown - by Region
The report includes the segmentation of the global butyric acid market as follows:
Based on source, the global market is segmented into renewable butyric acid and synthetic butyric acid. Based on application, the market is segmented into printing inks, animal feed, food flavors and food fragrances, chemical intermediates, pharmaceutical, and others. By geography, the market is broadly segmented into North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South & Central America. North America includes countries like the US, Canada, and Mexico. Europe includes Germany, France, the UK, Italy, Russia, and the Rest of Europe. Asia Pacific includes China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. The Middle East & Africa (MEA) includes South Africa, Saudi Arabia, UAE, and the Rest of MEA. South & Central America includes Brazil, Argentina, and the Rest of South & Central America.
Reasons to Buy
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the global butyric acid market, thereby allowing players to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth the market trends and outlook coupled with the factors driving the market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals
Table of Contents
1. Introduction
3. Research Methodology
4. Butyric Acid Market Landscape
5. Butyric Acid Market - Key Market Dynamics
6. Butyric Acid - Global Market Analysis
7. Butyric Acid Market Analysis - by Source
8. Butyric Acid Market Analysis - by Application
9. Butyric Acid Market - Geographic Analysis
10. Impact of COVID-19 Pandemic on Global Butyric Acid Market
11. Company Profiles
12. Appendix
List of Tables
List of Figures
Executive Summary
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. 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.
Companies Mentioned
- Eastman Chemical Company
- Oq Chemicals GmbH
- Toky- Chemical Industry Co. Ltd.
- Perstorp Holding Ab
- Alfa Aesar
- Merck Kgaa
- Vigon International, LLC.
- Hefei Tnj Chemical Industry Co.Ltd.
- Kunshan Odowell Co.Ltd
- Yufeng International Co.Ltd
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 159 |
| Published | March 2022 |
| Forecast Period | 2021 - 2028 |
| Estimated Market Value ( USD | $ 183.48 Million |
| Forecasted Market Value ( USD | $ 484.55 Million |
| Compound Annual Growth Rate | 14.9% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
