Carboxylic Acid Market Size was valued at USD 15.68 Billion in 2023. The carboxylic acid market industry is projected to grow from USD 16.51 Billion in 2024 to USD 23.72 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.63% during the forecast period (2024 - 2032). Due to market driver like the rising demand for cosmetics and personal care products, the carboxylic acid industry has experienced tremendous expansion. Additionally, the leading players in the carboxylic acid market are benefiting greatly from the growing consumer awareness of cosmetics and beauty products as well as the rising disposable income.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Increases in the demand for vinyl acetate monomer, the use of organic acids in animal feed, and the rise of the cosmetic and personal care industries are all factors that will likely contribute to the growth of the carboxylic acid market. Additionally, the expanded use of carboxylic derivatives, particularly in the food and beverage and cosmetic industries, is anticipated to fuel the market. The production of soft drinks, vinegar, cheese, vegetable oils, and other food products calls for a lot of carboxylic acid derivatives. During the anticipated term, these variables will accelerate market CAGR.
Furthermore, the significant increase in the market for carboxylic acids is mostly due to the rising prevalence of radiation dermatitis. Mice's skin may be prevented from developing irradiation-induced dermatitis by administering Benzene-Poly-Carboxylic Acid and Molybdenum Complex (BP-C2) as a preventative medication. These results are crucial for the management of human irradiation-induced cutaneous dermatitis. Additionally, the development of catalytic methods for producing carboxylic acids from biomass has significantly expedited market growth. However, the growth rate of the carboxylic acid market will be further boosted by the rising use of organic acids as animal feed additives and agrochemical-market-749'>agrochemical formulations due to their antibacterial advantages and high nutritional value. The rising consumption of poultry and swine due to their high protein content and favorable health effects would also contribute to market value expansion. The increasing use of organic acid in the animal feed industry to stop the growth of microbes, along with awareness of its advantageous qualities like high strength, lightweight, corrosion resistance, immense flexibility, and good holder of thermal and electrical conductivity, are also anticipated to support the market's expansion.
However, farmers are becoming more aware of the benefits of dietary augmentation, which opens up lucrative potential for market participants. Further driving the future expansion of the carboxylic acid market will be the restrictions prohibiting antibiotic growth boosters in animal feed, particularly for pigs, poultry, and cattle. Thus, driving the carboxylic acid market revenue.
The carboxylic acid market segmentation, based on product, includes acetic acid, ascorbic acid, azelaic acid, formic acid, valeric acid, citric acid, stearic acid, caproic acid, benzoic acid and others. The acetic acid segment dominated the market. Acetic carboxylic acid is a colorless liquid with a strong smell, also called acetic acid or ethanoic acid. It is the vinegar's primary ingredient and has various industrial and culinary purposes. One oxygen atom, two carbon atoms, four hydrogen atoms, and acetic carboxylic acid comprise this organic molecule, which has the formula C2H4O2. In diluted concentrations, the acid is relatively safe to handle even though it has a sour taste and is corrosive to metals.
The carboxylic acid market segmentation, based on end-use, includes food & beverages, aromas, animal feed, pharmaceuticals, agrochemicals and others. The food & beverages category generated the most income due to its expanding use in a range of products, including flavorings, preservatives, and colorants. Due to their capacity to introduce a sour flavor and their acidic qualities, carboxylic acids are frequently utilized in the food and beverage sector. Particularly in industrialized and growing countries like the U.S., the U.K., China, Russia, Brazil, South Africa, India, and Japan, the use of carboxylic acid in the food and beverage industry has been steadily increasing. The industry's expansion can be attributed to rising processed food consumption as well as an increase in government measures in developing nations like India to promote foreign investment in the food and beverage sector.
Figure 1: Carboxylic Acid Market, by End-Use, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American carboxylic acid market area will dominate this market. The food and beverages, pharmaceuticals, and chemical industries' increasing need for carboxylic acids is anticipated to fuel regional market expansion. Additionally, because of their potent scent, esters of carboxylic acids are employed in creating fragrances, which is expected to increase demand in the area.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: CARBOXYLIC ACID MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe carboxylic acid market accounts for the second-largest market share due to the widespread usage of derivatives of carboxylic acids in the production of cosmetics, personal care items, and colours. Since Germany has the greatest market in the region for cosmetics and personal care items, it contributes the most, followed by France and the UK. Further, the German carboxylic acid market held the largest market share, and the UK carboxylic acid market was the fastest growing market in the European region
The Asia-Pacific Carboxylic acid Market is expected to grow at the fastest CAGR from 2023 to 2032 due to the quick industrialization. The regional market is anticipated to increase as a result of the growing use of carboxylic acid derivatives as additives and preservatives in the expanding food and beverage industry. Additionally, it is anticipated that the usage of carboxylic acids, specifically butyric, propionic, and citric, in the manufacture of feed nutritional acidifiers for the animal feed business will assist the expansion of the regional market. Moreover, China’s carboxylic acid market held the largest market share, and the Indian carboxylic acid market was the fastest growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the carboxylic acid market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, carboxylic acid industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the carboxylic acid industry to benefit clients and increase the market sector. In recent years, the carboxylic acid industry has offered some of the most significant advantages to market. Major players in the carboxylic acid market attempting to increase market demand by investing in research and development operations include BASF SE (Germany), Eastman Chemical Company (US), Dow (US), Jiangsu SOPO (Group) Co. Ltd (China), FINETECH INDUSTRY LIMITED (UK), Celanese Corporation (US), Perstorp (Sweden), Alfa Aesar (US), LyondellBasell Industries Holdings B.V. (US), OXEA GmbH (Germany), Snowco industrial Co. Ltd (China), Blue Marble Biomaterials (US), Hydrite Chemical (US) and Pacific Oleochemicals Sdn Bhd (Malaysia).
A producer and seller of specialized chemicals is Eastman Chemical Co. It offers many cutting-edge items, including functional goods, specialized additives, chemicals, and fibers. The company's product portfolio consists of acetate yarn, adhesives, performance films, plasticizers, specialty plastics, plasticizers, plasticizers, plasticizers, plasticizers, and additives. The business also provides wet-laid nonwovens and specialized films. Among other industries, Eastman's products include coatings, food and beverage, building and construction, packaging, transportation, feed and agriculture, consumables, consumer durables, and health and wellness.
A supplier of technical solutions and specialized materials is Celanese Corp (Celanese). It provides ethylene-vinyl acetate, emulsion polymers, sophisticated engineered materials, food additives, intermediate chemistry, and other materials. The company's products are used in a variety of end-use markets, including paints and coatings, automotive, industrial, consumer and industrial adhesives, consumer and medical, filtration, paper and packaging, chemical additives, construction, energy storage, performance industrial, food and beverage, and textiles. The commercial offices, technological centers, and production facilities operated by Celanese are connected.
November 2019: The manufacturing of Penta (pentaerythritol), including the renewable grade Voxtar, will now be produced at a new facility in Gujarat, India, according to a statement from Perstorp Holding AB. Commercial manufacturing is anticipated to begin in Q1 2022.
July 2019: The multinational chemical corporation Oxea has decided to construct a new carboxylic acid production facility in Oberhausen, Germany, to meet the increasing demand.
| Report Attribute/Metric | Details |
| Market Size 2023 | USD 15.68 Billion |
| Market Size 2024 | USD 16.51 Billion |
| Market Size 2032 | USD 23.72 Billion |
| Compound Annual Growth Rate (CAGR) | 4.63% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product, End-Use and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | BASF SE (Germany), Eastman Chemical Company (US), Dow (US), Jiangsu SOPO (Group) Co. Ltd (China), FINETECH INDUSTRY LIMITED (UK), Celanese Corporation (US), Perstorp (Sweden), Alfa Aesar (US), LyondellBasell Industries Holdings B.V. (US), OXEA GmbH (Germany), Snowco industrial Co. Ltd (China), Blue Marble Biomaterials (US), Hydrite Chemical (US) and Pacific Oleochemicals Sdn Bhd (Malaysia) |
| Key Market Opportunities | Growing adoption in pharmaceutical sector |
| Key Market Dynamics | Increased use in food & beverages sector |
Carboxylic Acid Market Highlights:
Frequently Asked Questions (FAQ) :
The carboxylic acid market size was valued at USD 15.68 Billion in 2023.
The carboxylic acid market is projected to grow at a CAGR of 4.63% during the forecast period, 2024-2032.
North America had the largest share in the carboxylic acid market
The key players in the carboxylic acid market are BASF SE (Germany), Eastman Chemical Company (US), Dow (US), Jiangsu SOPO (Group) Co. Ltd (China), FINETECH INDUSTRY LIMITED (UK), Celanese Corporation (US), Perstorp (Sweden), Alfa Aesar (US), LyondellBasell Industries Holdings B.V. (US), OXEA GmbH (Germany), Snowco industrial Co. Ltd (China), Blue Marble Biomaterials (US), Hydrite Chemical (US) and Pacific Oleochemicals Sdn Bhd (Malaysia).
The acetic acid category dominated the carboxylic acid market in 2023.
The food & beverage category had the largest share in the carboxylic acid market.
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