Carboxylic Acid Market Research Report - Global Forecast till 2027

Global Carboxylic Acid Market Research Report: Information by Product (Acetic Acid, Ascorbic Acid, Azelaic Acid,  Formic Acid, Valeric Acid, Citric Acid, Stearic acid, Caproic Acid, Benzoic Acid and others), End-Use (Food & Beverages, Aromas, Animal Feed, Pharmaceuticals, Agrochemicals and others) and Region (Asia-Pacific, North America, Europe, Latin America and Middle East & Africa) - Forecast till 2027

ID: MRFR/CnM/6766-HCR | February, 2021 | Region : Global

Market Synopsis

Global Carboxylic Acid Market is projected to register a CAGR of 5.3% during the forecast period. The global market, in terms of value, accounted for USD 14 billion in 2018.


Carboxylic acid is a polar organic compound that belongs to the carboxyl functional group, which on deprotonation forms carboxylate anion. These chemicals tend to have a high boiling point than water on the account of strong hydrogen bonding. Carboxylic acid groups are generally more acidic than other organic compounds containing hydroxyl groups, but weaker than mineral acids such as sulfuric acid and hydrochloric acid.


The growing use of carboxylic derivatives particularly in the food & beverage and cosmetic industries is expected to drive the global market growth during the forecast period. The demand for carboxylic acid derivates is high in the production of soft drinks, vinegar, cheese, vegetable oils, and other food products. For instance, propionic acid and acetic acid are used in the production of swiss cheese. Besides, the surging demand for carboxylic acid derivatives, such as azelaic acid and oleic acid, in the production of shampoos and skincare products is likely to fuel the demand for the product in the coming years. In addition, the increasing use of organic acids owing to their high nutritional value and antimicrobial benefits as animal feed additives and agrochemical-market-749'>agrochemical formulations is also projected to boost the demand for carboxylic acids globally. Furthermore, the adoption of carboxylic acid derivatives is increasing in the pharmaceutical industry to produce drugs, which is expected to create lucrative opportunities for the players operating in the global carboxylic acids market.


However, the health hazards associated with the use of certain carboxylic acids in high concentration is likely to hamper the growth of the global market. For instance, on accumulation of high amount of short-chain carboxylic acids in the human body, cytotoxic effects of short-chain carboxylic acid have been observed in the gingival epithelial cells.


Global Carboxylic Acids Market Share, by End-Use Industry, 2018 (%)  Carboxylic Acids Market


Source: MRFR Analysis


Regional Analysis


The global carboxylic acids market is analyzed for five major regions, namely North America, Asia-Pacific, Europe, Latin America, and the Middle East & Africa.


Asia-Pacific was the dominant market for carboxylic acids in 2018 and is projected to register the highest CAGR during the forecast period owing to the rapid industrialization. The increasing use of carboxylic acid derivatives in the expanding food and beverage industry as additives and preservatives is expected to drive the growth of the regional market. Furthermore, the use of carboxylic acids mainly butyric, propionic, and citric in the production of feed dietary acidifiers in the animal feed industry is also expected to support the regional market growth. China, being one of the leading countries in the animal feed industry, is expected to the fastest-growing country-level market in the region. India and other Southeast Asian countries are also expected to propel the regional market growth owing to increasing demand for carboxylic acids derivatives in various end-use industries such as rubber and pharmaceutical. For instance, the industrial output in China increased by 6.3% in 2018, whereas a similar trend has been observed in India with a growth rate of 3.4% in the first half of 2019.


North America accounted for a substantial market share in 2018. The growing demand for carboxylic acids in the food & beverage, pharmaceutical, and chemical industries is expected to drive the regional market growth. In addition, esters of carboxylic acids on the account of strong odor are used in the production of perfumes, which is projected to boost the demand in the region.


Europe is expected to showcase significant growth during the forecast period owing to extensive use of carboxylic acid derivatives in the personal care & cosmetic industry to produce beauty care products and dyes. Germany is the major contributor followed by France and the UK as it is the largest market for cosmetics and personal care products in the region. According to the Cosmetics Europe, the European cosmetics and personal care market was valued worth USD 92.7 billion in 2018, with Germany accounting USD 16.2 billion of the total net worth.


Latin America and the Middle East & Africa are expected to witness substantial growth during the forecast period owing to growing industrialization and per capita disposable income of individuals.


Segmentation


The global carboxylic acids market has been segmented based on product, end use, and region.


Based on product, the global market has been classified into acetic acid, ascorbic acid, azelaic acid, formic acid, valeric acid, citric acid, stearic acid, caproic acid, benzoic acid, and others.


Based on end use, the global market has been divided into food & beverages, aromas, animal feed, pharmaceuticals, agrochemicals, and others


The global market, by region, has been categorized into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.


Key Players


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).


Intended Audience



  • Carboxylic acid manufacturers

  • Traders and distributors of carboxylic acids

  • Potential investors

  • Raw material suppliers

  • Carboxylic acids manufacturers

  • Distributors

  • Industry associations

Table of Contents

1 Executive Summary

2 Market Introduction

2.1 Market Definition

2.2 Scope of the Study

2.2.1 Research Objectives

2.2.2 Assumptions & Limitations

2.3 Markets Structure

2.4 Key Takeaways

3 Market Research Methodology

3.1 Research Process

3.2 Primary Research

3.3 Secondary Research

3.4 Market Size Estimation

3.5 Forecast Model

4 Market Dynamics of Global Carboxylic Acids Market

4.1 Introduction

4.2 Drivers

4.3 Restraints

4.4 Opportunities

4.5 Challenges

4.6 Trends/Technology

5 Market Factor Analysis of Global Carboxylic Acids Market

5.1 Supply Chain Analysis

5.1.1 Raw Material Suppliers

5.1.2 Manufacturers/Producers

5.1.3 Distributors/Retailers/Wholesalers/E-Commerce

5.1.4 End User

5.2 Porter’s Five Forces Analysis

5.2.1 Threat of New Entrants

5.2.2 Bargaining Power of Buyers

5.2.3 Bargaining Power of Suppliers

5.2.4 Threat of Substitutes

5.2.5 Intensity of Competitive Rivalry

5.3 Pricing Analysis


Global Carboxylic Acids Market, by Product


6.1 Introduction

6.2 Acetic Acid

6.2.1 Market Estimates & Forecast, 2020-2027

6.2.2 Market Estimates & Forecast, by Region, 2020-2027

6.3 Ascorbic Acid

6.3.1 Market Estimates & Forecast, 2020-2027

6.3.2 Market Estimates & Forecast, by Region, 2020-2027

6.4 Azelaic Acid

6.4.1 Market Estimates & Forecast, 2020-2027

6.4.2 Market Estimates & Forecast, by Region, 2020-2027

6.5 Formic Acid

6.5.1 Market Estimates & Forecast, 2020-2027

6.5.2 Market Estimates & Forecast, by Region, 2020-2027

6.6 Valeric Acid

6.6.1 Market Estimates & Forecast, 2020-2027

6.6.2 Market Estimates & Forecast, by Region, 2020-2027

6.7 Citric Acid

6.7.1 Market Estimates & Forecast, 2020-2027

6.7.2 Market Estimates & Forecast, by Region, 2020-2027

6.8 Ascorbic Acid

6.8.1 Market Estimates & Forecast, 2020-2027

6.8.2 Market Estimates & Forecast, by Region, 2020-2027

6.9 Stearic Acid

6.9.1 Market Estimates & Forecast, 2020-2027

6.9.2 Market Estimates & Forecast, by Region, 2020-2027

6.10 Caproic Acid

6.10.1 Market Estimates & Forecast, 2020-2027

6.10.2 Market Estimates & Forecast, by Region, 2020-2027

6.11 Benzoic Acid

6.11.1 Market Estimates & Forecast, 2020-2027

6.11.2 Market Estimates & Forecast, by Region, 2020-2027

6.12 Others

6.12.1 Market Estimates & Forecast, 2020-2027

6.12.2 Market Estimates & Forecast, by Region, 2020-2027


Global Carboxylic Acids Market, by End-Use


7.1 Introduction

7.2 Food & Beverage

7.2.1 Market Estimates & Forecast, 2020-2027

7.2.2 Market Estimates & Forecast, by Region, 2020-2027

7.5 Animal Feed

7.5.1 Market Estimates & Forecast, 2020-2027

7.5.2 Market Estimates & Forecast, by Region, 2020-2027

7.4 Pharmaceuticals

7.4.1 Market Estimates & Forecast, 2020-2027

7.4.2 Market Estimates & Forecast, by Region, 2020-2027

7.5 Aromas

7.5.1 Market Estimates & Forecast, 2020-2027

7.5.2 Market Estimates & Forecast, by Region, 2020-2027

7.6 Agrochemicals

7.6.1 Market Estimates & Forecast, 2020-2027

7.6.2 Market Estimates & Forecast, by Region, 2020-2027

7.7 Others

7.7.1 Market Estimates & Forecast, 2020-2027

7.7.2 Market Estimates & Forecast, by Region, 2020-2027


Global Carboxylic Acids Market, by Region


8.1 Introduction

8.2 North America

8.2.1 Market Estimates & Forecast, 2020-2027

8.2.2 Market Estimates & Forecast, by Product, 2020-2027

8.2.5 Market Estimates & Forecast, by End-Use, 2020-2027

8.2.4 US

8.2.4.1 Market Estimates & Forecast, 2020-2027

8.2.4.2 Market Estimates & Forecast, by Product, 2020-2027

8.2.4.5 Market Estimates & Forecast, End-Use, 2020-2027

8.2.5 Canada

8.2.5.1 Market Estimates & Forecast, 2020-2027

8.2.5.2 Market Estimates & Forecast, by Product, 2020-2027

8.2.5.5 Market Estimates & Forecast, by End-Use, 2020-2027

8.5 Europe

8.5.1 Market Estimates & Forecast, 2020-2027

8.5.2 Market Estimates & Forecast, by Product, 2020-2027

8.5.5 Market Estimates & Forecast, by End-Use, 2020-2027

8.5.4 Germany

8.5.4.1 Market Estimates & Forecast, 2020-2027

8.5.4.2 Market Estimates & Forecast, by Product, 2020-2027

8.5.4.5 Market Estimates & Forecast, by End-Use, 2020-2027

8.5.5 France

8.5.5.1 Market Estimates & Forecast, 2020-2027

8.5.5.2 Market Estimates & Forecast, by Product, 2020-2027

8.5.5.5 Market Estimates & Forecast, by End-Use, 2020-2027

8.5.6 Italy

8.5.6.1 Market Estimates & Forecast, 2020-2027

8.5.6.2 Market Estimates & Forecast, by Product, 2020-2027

8.5.6.5 Market Estimates & Forecast, by End-Use, 2020-2027

8.5.7 Spain

8.5.7.1 Market Estimates & Forecast, 2020-2027

8.5.7.2 Market Estimates & Forecast, by Product,2020-2027

8.5.7.5 Market Estimates & Forecast, by End-Use, 2020-2027

8.5.8 UK

8.5.8.1 Market Estimates & Forecast, 2020-2027

8.5.8.2 Market Estimates & Forecast, by Product,2020-2027

8.5.8.5 Market Estimates & Forecast, by End-Use, 2020-2027

8.5.9 Russia

8.5.9.1 Market Estimates & Forecast, 2020-2027

8.5.9.2 Market Estimates & Forecast, by Product,2020-2027

8.5.9.5 Market Estimates & Forecast, by End-Use, 2020-2027

8.5.10 Poland

8.5.10.1 Market Estimates & Forecast, 2020-2027

8.5.10.2 Market Estimates & Forecast, by Product, 2020-2027

8.5.10.5 Market Estimates & Forecast, by End-Use, 2020-2027

8.5.11 Rest of Europe

8.5.11.1 Market Estimates & Forecast, 2020-2027

8.5.11.2 Market Estimates & Forecast, by Product, 2020-2027

8.5.11.5 Market Estimates & Forecast, by End-Use, 2020-2027

8.4 Asia-Pacific

8.4.1 Market Estimates & Forecast, 2020-2027

8.4.2 Market Estimates & Forecast, by Product, 2020-2027

8.4.5 Market Estimates & Forecast, by End-Use, 2020-2027

8.4.4 China

8.4.4.1 Market Estimates & Forecast, 2020-2027

8.4.4.2 Market Estimates & Forecast, by Product, 2020-2027

8.4.4.5 Market Estimates & Forecast, by End-Use, 2020-2027

8.4.5 India

8.4.5.1 Market Estimates & Forecast, 2020-2027

8.4.5.2 Market Estimates & Forecast, by Product, 2020-2027

8.4.5.5 Market Estimates & Forecast, by End-Use, 2020-2027

8.4.6 Japan

8.4.6.1 Market Estimates & Forecast, 2020-2027

8.4.6.2 Market Estimates & Forecast, by Product, 2020-2027

8.4.6.5 Market Estimates & Forecast, by End-Use, 2020-2027

8.4.7 Australia & New Zealand

8.4.7.1 Market Estimates & Forecast, 2020-2027

8.4.7.2 Market Estimates & Forecast, by Product, 2020-2027

8.4.7.5 Market Estimates & Forecast, by End-Use, 2020-2027

8.4.8 Rest of Asia-Pacific

8.4.8.1 Market Estimates & Forecast, 2020-2027

8.4.8.2 Market Estimates & Forecast, by Product, 2020-2027

8.4.8.5 Market Estimates & Forecast, by End-Use, 2020-2027

8.5 Middle East & Africa

8.5.1 Market Estimates & Forecast, 2020-2027

8.5.2 Market Estimates & Forecast, by Product, 2020-2027

8.5.5 Market Estimates & Forecast, by End-Use, 2020-2027

8.5.4 GCC

8.5.4.1 Market Estimates & Forecast, 2020-2027

8.5.4.2 Market Estimates & Forecast, by Product, 2020-2027

8.5.4.5 Market Estimates & Forecast, by End-Use, 2020-2027

8.5.5 Israel

8.5.5.1 Market Estimates & Forecast, 2020-2027

8.5.5.2 Market Estimates & Forecast, by Product, 2020-2027

8.5.5.5 Market Estimates & Forecast, by End-Use, 2020-2027

8.5.6 North Africa

8.5.6.1 Market Estimates & Forecast, 2020-2027

8.5.6.2 Market Estimates & Forecast, by Product, 2020-2027

8.5.6.5 Market Estimates & Forecast, by End-Use, 2020-2027

8.5.7 Turkey

8.5.7.1 Market Estimates & Forecast, 2020-2027

8.5.7.2 Market Estimates & Forecast, by Product, 2020-2027

8.5.7.5 Market Estimates & Forecast, by End-Use, 2020-2027

8.5.8 Rest of Middle East & Africa

8.5.8.1 Market Estimates & Forecast, 2020-2027

8.5.8.2 Market Estimates & Forecast, by Product, 2020-2027

8.5.8.5 Market Estimates & Forecast, by End-Use, 2020-2027

8.6 Latin America

8.6.1 Market Estimates & Forecast, 2020-2027

8.6.2 Market Estimates & Forecast, by Product, 2020-2027

8.6.5 Market Estimates & Forecast, by End-Use, 2020-2027

8.6.4 Brazil

8.6.4.1 Market Estimates & Forecast, 2020-2027

8.6.4.2 Market Estimates & Forecast, by Product, 2020-2027

8.6.4.5 Market Estimates & Forecast, by End-Use, 2020-2027

8.6.5 Argentina

8.6.5.1 Market Estimates & Forecast, 2020-2027

8.6.5.2 Market Estimates & Forecast, by Product, 2020-2027

8.6.5.5 Market Estimates & Forecast, by End-Use, 2020-2027

8.6.6 Mexico

8.6.6.1 Market Estimates & Forecast, 2020-2027

8.6.6.2 Market Estimates & Forecast, by Product, 2020-2027

8.6.6.5 Market Estimates & Forecast, by End-Use, 2020-2027

8.6.7 Rest of Latin America

8.6.7.1 Market Estimates & Forecast, 2020-2027

8.6.7.2 Market Estimates & Forecast, by Product, 2020-2027

8.6.7.5 Market Estimates & Forecast, by End-Use, 2020-2027


Company Landscape


9.1 Introduction

9.2 Market Strategy

9.5 Key Development Analysis (Expansion/Merger & Acquisitions/Joint Venture/New Product Development/Agreement/Investment)


Company Profiles


10.1 BASF SE

10.1.1 Company Overview

10.1.2 Financial Updates

10.1.5 Product/Business Segment Overview

10.1.4 Strategy

10.1.5 Key Developments

10.1.6 SWOT Analysis

10.2 Eastman Chemical Company

10.2.1 Company Overview

10.2.2 Financial Updates

10.2.5 Product/Business Segment Overview

10.2.4 Strategy

10.2.5 Key Developments

10.2.6 SWOT Analysis

10.5 Dow

10.5.1 Company Overview

10.5.2 Financial Updates

10.5.5 Product/Business Segment Overview

10.5.4 Strategy

10.5.5 Key Developments

10.5.6 SWOT Analysis

10.4 Jiangsu SOPO (Group) Co., Ltd

10.4.1 Company Overview

10.4.2 Financial Updates

10.4.5 Product/Business Segment Overview

10.4.4 Strategy

10.4.5 Key Developments

10.4.6 SWOT Analysis

10.5 FINETECH INDUSTRY LIMITED

10.5.1 Company Overview

10.5.2 Financial Updates

10.5.5 Product/Business Segment Overview

10.5.4 Strategy

10.5.5 Key Developments

10.5.6 SWOT Analysis

10.6 Celanese Corporation

10.6.1 Company Overview

10.6.2 Financial Updates

10.6.5 Product/Business Segment Overview

10.6.4 Strategy

10.6.5 Key Developments

10.6.6 SWOT Analysis

10.7 Perstorp

10.7.1 Company Overview

10.7.2 Financial Updates

10.7.5 Product/Business Segment Overview

10.7.4 Strategy

10.7.5 Key Developments

10.7.6 SWOT Analysis

10.8 Alfa Aesar

10.8.1 Company Overview

10.8.2 Financial Updates

10.8.5 Product/Business Segment Overview

10.8.4 Strategy

10.8.5 Key Developments

10.8.6 SWOT Analysis

10.9 LyondellBasell Industries Holdings B.V.

10.9.1 Company Overview

10.9.2 Financial Updates

10.9.5 Product/Business Segment Overview

10.9.4 Strategy

10.9.5 Key Developments

10.9.6 SWOT Analysis

10.10 OXEA GmbH

10.10.1 Company Overview

10.10.2 Financial Updates

10.10.5 Product/Business Segment Overview

10.10.4 Strategy

10.10.5 Key Developments

10.10.6 SWOT Analysis

10.11 Snowco industrial Co., Ltd.

10.11.1 Company Overview

10.11.2 Financial Updates

10.11.5 Product/Business Segment Overview

10.11.4 Strategy

10.11.5 Key Developments

10.11.6 SWOT Analysis

10.12 Blue Marble Biomaterials

10.12.1 Company Overview

10.12.2 Financial Updates

10.12.5 Product/Business Segment Overview

10.12.4 Strategy

10.12.5 Key Developments

10.12.6 SWOT Analysis

10.13 Hydrite Chemical

10.13.1 Company Overview

10.13.2 Financial Updates

10.13.5 Product/Business Segment Overview

10.13.4 Strategy

10.13.5 Key Developments

10.13.6 SWOT Analysis

10.14 Pacific Oleochemicals Sdn Bhd

10.14.1 Company Overview

10.14.2 Financial Updates

10.14.5 Product/Business Segment Overview

10.14.4 Strategy

10.14.5 Key Developments

10.14.6 SWOT Analysis


Conclusion




LIST OF TABLES


Table 1 Global Carboxylic Acids Market: by Region, 2020-2027

Table 2 North America: Carboxylic Acids Market, by Country, 2020-2027

Table 5 Europe: Carboxylic Acids Market, by Country, 2020-2027

Table 4 Asia-Pacific: Carboxylic Acids Market. by Country, 2020-2027

Table 5 Middle East & Africa: Carboxylic Acids Market, by Country, 2020-2027

Table 6 Latin America: Carboxylic Acids Market, by Country, 2020-2027

Table 7 Global Carboxylic Acids Product Market, by Regions, 2020-2027

Table 8 North America: Carboxylic Acids Product Market, by Country, 2020-2027

Table 9 Europe: Carboxylic Acids Product Market, by Country, 2020-2027

Table10 Asia-Pacific: Carboxylic Acids Product Market, by Country, 2020-2027

Table11 Middle East & Africa: Carboxylic Acids Product Market, by Country, 2020-2027

Table12 Latin America: Carboxylic Acids Product Market, by Country, 2020-2027

Table15 Global Carboxylic Acids End-Use Market, by Regions, 2020-2027

Table14 North America: Carboxylic Acids End-Use Market, by Country, 2020-2027

Table15 Europe: Carboxylic Acids End-Use Market, by Country, 2020-2027

Table16 Asia-Pacific: Carboxylic Acids End-Use Market, by Country, 2020-2027

Table17 Middle East & Africa: Carboxylic Acids End-Use Market, by Country, 2020-2027

Table18 Latin America: Carboxylic Acids by End-Use Market, by Country, 2016-2025

Table19 Global Product Market, by Region, 2020-2027

Table20 Global End-Use Market, by Region, 2020-2027

Table21 North America: Carboxylic Acids Market, by Country, 2020-2027

Table22 North America: Carboxylic Acids Market, by Product, 2020-2027

Table25 North America: Carboxylic Acids Market, by End-Use, 2020-2027

Table24 Europe: Carboxylic Acids Market, by Country, 2020-2027

Table25 Europe: Carboxylic Acids Market, by Product, 2020-2027

Table26 Europe: Carboxylic Acids Market, by End-Use, 2020-2027

Table27 Asia-Pacific: Carboxylic Acids Market, by Country, 2020-2027

Table28 Asia-Pacific: Carboxylic Acids Market, by Product, 2020-2027

Table29 Asia-Pacific: Carboxylic Acids Market, by End-Use, 2020-2027

Table50 Middle East & Africa: Carboxylic Acids Market, by Country, 2020-2027

Table51 Middle East & Africa: Carboxylic Acids Market, by Product, 2020-2027

Table52 Middle East & Africa: Carboxylic Acids Market, by End-Use, 2020-2027

Table55 Latin America: Carboxylic Acids Market, by Country, 2020-2027

Table54 Latin America: Carboxylic Acids Market, by Product, 2020-2027

Table55 Latin America: Carboxylic Acids Market, by End-Use, 2020-2027


LIST OF FIGURES


FIGURE 1 Global Carboxylic Acids Market Segmentation

FIGURE 2 Forecast Research Methodology

FIGURE 5 Five Forces Analysis of Global Carboxylic Acids Market

FIGURE 4 Value Chain of Global Carboxylic Acids Market

FIGURE 5 Global Carboxylic Acids Market, 2020-2027, by Country, 2020

FIGURE 6 Share of Global Carboxylic Acids Market, by Product, 2020-2027

FIGURE 7 Global Carboxylic Acids Market Size, by Product, 2020

FIGURE 8 Share of Global Carboxylic Acids Market, by Product, 2020-2027

FIGURE 9 Global Carboxylic Acids Market Size, by End-Use, 2020

FIGURE10 Share of Global Carboxylic Acids Market, by End-Use, 2020-2027

Carboxylic Acid Market