Albany, NY -- (SBWire) -- 06/01/2016 --Carboxylic acids are organic acids containing carboxyl group (-COOH). These acids are named according to the number of carbon atoms present in the molecule. Carboxylic acids are primarily used in the manufacture of soaps, detergents, pharmaceuticals, rubber, plastics, dyes, textile, perfumes, and animal feed. Rising demand for carboxylic acids derivatives is anticipated to boost the global market for these acids during the forecast period. Additionally, increasing demand for acids such as formic, propionic, and butyric in the animal feed industry is estimated to drive the market. However, factors such as enactment of stringent government regulations on the production of petro-based carboxylic acids and availability of organic and natural substitutes in the animal feed industry hamper the carboxylic acid market.
This report provides detailed description of the global carboxylic acids market in terms of volume share (Kilo Tons) and revenue (US$ Mn) for the period from 2014 to 2023. It highlights factors contributing to the growth of the market. It also enumerates the restraints faced by the market. The market is described with respect to various segments along with opportunities that are expected to arise during the next six years.
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The carboxylic acids market has been segmented based on products such as acetic acid, valeric acids, isovaleric acid, formic acid, propionic acid, butyric acid, isobutyric acid, citric acid, caproic acid, and stearic acid. It is also segmented on the basis of end-user industries such as food & beverages, animal feed, personal care & cosmetics, lubricants, consumer goods, and others (including agrochemicals, chemical intermediary, textile, electronics, rubber, and leather). The study provides forecast and estimates for each product segment and end-user in terms of revenue and volume during the forecast period from 2015 to 2023. Each of the product segments and end-users has been further analyzed on regional (North America, Europe, Asia Pacific, Latin America and Middle East & Africa) and country levels for the period from 2014 to 2023 in terms of volume and revenue.
Value chain analysis and Porter's five forces model have been provided for a comprehensive view of the market. These throw light on the dynamics of the industry structure besides providing an overview of the degree of competitiveness in the market. The report also includes the manufacturing process of major carboxylic acids and price trend analysis of carboxylic acids from 2014 to 2023. Additionally, the report includes key research findings through primary interviews with major industry experts and opinion leaders in order to substantiate the secondary research.
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Secondary research sources referred to include company websites, annual reports, broker reports, investor presentations, financial reports, and SEC filings. In-depth interviews and discussions with a wide range of key industry participants and opinion leaders were conducted to compile this research report. Primary research represents bulk of research efforts, supplemented by an extensive secondary research. Key players' product literature, annual reports, press releases, and relevant documents were reviewed for competitive analysis and market understanding. This helped in validating and strengthening secondary research findings. Primary research further developed the analysis team's expertise and market understanding.
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The report covers a detailed competitive outlook that includes market share and profiles of key participants operating in the global market. Key players profiled in the report include BASF SE, Eastman Chemical Company, Celanese Corporation, The Dow Chemical Company, OXEA, Perstorp Holdings AB, LyondellBasell Industries N.V., and Finetech Industry Limited. Company profiles include attributes such as company overview, business overview, product portfolio, key competitors, business strategies, financial overview (financial year), and recent/key developments.
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Carboxylic Acids Market - Rising Usage of Organic Acids as Growth Promoters in the Animal Feed
In terms of volume, acetic acid was the largest product segment of the global carboxylic acids market in 2014. It is majorly used in the production of vinyl acetate monomer (VAM), PTA, acetic anhydride, etc. The segment is anticipated to exhibit the fastest growth rate from 2015 to 2023.