Isobutyric Acid Market | Size, Demand, Growth, Industry Review till 2023
Iso-butyric Acid Market: Information by Application (Animal Feed, Chemical Intermediate, Food and Flavors, Pharmaceuticals, Perfumes and Others), Region — Global Forecast till 2023
Competitive Analysis:
Leading players in the global isobutyric acid market are Beijing Huamaoyuan Fragrance Flavor Co., ltd., Inc. (China), Perstorp Holding AB(Germany), OXEA GmbH (Germany), Blue Marble Biomaterials(U.S.), Tokyo Chemical Industry Co. Ltd.(Japan), , Snowco industrial Co., Ltd. (China) Eastman Chemical Company(U.S.) and others
Iso-butyric Acid Overview:
Isobutyric acid is a colorless and medium boiling liquid. Generally, the esters of isobutyric acid are used as solvents for various types of end use applications wherein characteristics such as flavor and odour plays an are important. The potassium salt of isobutyric acid is effective as a solubility promoter in the caustic extraction of mercaptans from sour petroleum stocks.
Based on application, the Isobutyric Acid Market is segmented in to animal feed, chemical intermediate, food and flavors, pharmaceuticals, perfumes and others. Food and flavors segment accounted for largest market share in the global market. The use of isobutyric acid as a sweetner and flavoring agent is expected to boost its demand in the segment in near future.
Moreover, properties of isobutyric acid such as it is high solubility in ethanol, ether and organic solvents are expected to increase its demand in applications such as chemical intermediate and pharmaceuticals.
Iso-butyric Acid Segmentation:
The global isobutyric acid market has been segmented on the basis application and region.
Based on application, the global isobutyric acid market has been segregated into animal feed, chemical intermediate, food and flavors, pharmaceuticals, perfumes and others.
The global isobutyric acid market has been studied with respect to five regions—Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa.
Regional Analysis:
Latin America, the Middle East & Africa, Asia-Pacific, North America and Europe are the five regions studied for the global isobutyric acid market. Asia-Pacific is projected to be the largest and fastest growing region in the global Isobutyric Acid market during the forecast period. Growing use of Isobutyric Acid as solvent in industries such as animal feed, perfumes, food and flavors are expected to increase its market in the region. Additionally, isobutyric acid is mostly used as a raw material for manufacturing of chemical intermediates such as varnishes, solvents, disinfectants, specialty chemicals, polymers and plastics are expected to fuel its demand in the region
Europe accounted for second largest market share in global market due to growing food industry and increasing use of the isobutyric acid as a sweetener in the food products. Germany accounted for largest market share of 24.2% in Europe followed by Russia of 18.2% in 2018. North America accounted for third largest market share of 19.8%. North American, isobutyric acid market is manly dominated by US. Rising consumer spending on health, growing pharmaceuticals industry is expected to boost its demand in the country during the forecast period.
The market in the Middle East and African region are projected to witness a positive growth during the forecast period on account of improvement of conditions of industries after the political and economic downfall in 2015.