USD 0.13 billion
Isobutyric Acid Market Size, Share, Growth Analysis, By Type(Synthetic and renewable), By Application(Animal feed, chemical intermediate, food and flavours, pharmaceuticals), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15A2339 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
63
|Figures:
75
Isobutyric Acid Market Insights
Isobutyric Acid Market size was valued at USD 0.13 billion in 2021 and is poised to grow from USD 0.14 billion in 2022 to USD 0.28 billion by 2030, at a CAGR of 8.9% during the forecast period (2023-2030).
The increasing demand for isobutyric acid can be attributed to its versatile applications across multiple industries. In the pharmaceutical sector, it is used as an intermediate in the synthesis of active pharmaceutical ingredients (APIs) and as a solvent for drug formulations. The food and beverage industry utilizes isobutyric acid as a flavoring agent in products such as candies, bakery goods, and beverages. Additionally, it finds application in animal nutrition as a feed additive, improving the palatability and nutritional value of animal feed. The growing awareness regarding the benefits of isobutyric acid in different sectors, coupled with advancements in manufacturing processes, has contributed to the expansion of the global market. Geographically, Asia Pacific has emerged as a prominent market for isobutyric acid due to the presence of a large number of chemical manufacturing facilities in countries like China and India. The market is expected to continue its upward trajectory in the coming years, driven by factors such as increasing industrialization, expanding applications, and technological advancements in production methods. However, challenges such as fluctuating raw material prices and environmental regulations may hinder the market growth to some extent. Overall, the global market presents promising opportunities for manufacturers, suppliers, and investors alike.
US Isobutyric Acid Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Synthetic
Fastest Growth
Synthetic
Growth Rate
8.9% CAGR
Global Isobutyric Acid Market ($ Bn)
Country Share for Asia Pacific Region (%)
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Isobutyric Acid Market Segmental Analysis
Global Isobutyric Acid Market is segmented on the basis of type, application, and region. Based on type, the market can be segmented into Synthetic and renewable. Based on application, the market is segmented into Animal feed, chemical intermediate, food and flavours, pharmaceuticals, perfumes and others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Isobutyric Acid Market Analysis By Type
The dominant segment in the global isobutyric acid market is synthetic isobutyric acid. Synthetic isobutyric acid is widely utilized across various industries due to its cost-effectiveness and availability. It is primarily produced through chemical synthesis processes, using petrochemical-based raw materials. Synthetic isobutyric acid holds a significant market share, driven by its extensive use in the production of esters, pharmaceuticals, flavors, and animal feed additives.
The fastest-growing segment in the global isobutyric acid market is renewable isobutyric acid. Renewable isobutyric acid is derived from sustainable feedstocks, such as biomass or agricultural residues, through bio-based processes. This segment is experiencing rapid growth due to the increasing emphasis on sustainability and environmental concerns. Renewable isobutyric acid offers advantages such as reduced carbon footprint and decreased reliance on fossil fuels. It is gaining traction in industries such as bioplastics, biofuels, and green chemicals, as companies strive to adopt eco-friendly alternatives. The renewable isobutyric acid segment is expected to witness substantial expansion in the coming years, driven by the growing demand for renewable and bio-based solutions.
Isobutyric Acid Market Analysis By Application
The dominant segment in the global isobutyric acid market is chemical intermediate. Isobutyric acid serves as a crucial raw material in the production of various chemicals and compounds. Its versatility and reactivity make it an essential ingredient in the synthesis of esters, solvents, resins, plasticizers, and other chemical intermediates. The chemical intermediate segment holds a significant market share, driven by the widespread use of isobutyric acid in industries such as pharmaceuticals, agrochemicals, flavors, fragrances, and polymers.
The fastest-growing segment in the global isobutyric acid market is the food and flavors industry. Isobutyric acid is widely employed as a flavoring agent in the food and beverage sector due to its distinct aroma and taste characteristics. It enhances the flavor profiles of various products, including confectioneries, baked goods, beverages, and savory snacks. The growing consumer demand for unique and appealing food experiences, coupled with the expansion of the global food industry, is driving the rapid growth of the food and flavors segment in the isobutyric acid market. Additionally, advancements in food processing technologies and the introduction of innovative flavor combinations are further fueling the segment's growth potential.
Global Isobutyric Acid Market By Type
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Isobutyric Acid Market Regional Insights
The dominant region in the global isobutyric acid market is Asia Pacific. Asia Pacific region holds a significant market share due to the presence of a large number of chemical manufacturing facilities and the growing industrialization in countries such as China and India. The region's strong demand for isobutyric acid is driven by its extensive use in various industries, including pharmaceuticals, flavors, animal feed additives, and chemical intermediates. The expanding manufacturing sector and increasing consumption of isobutyric acid in end-use applications contribute to Asia Pacific's dominance in the global market.
The fastest-growing segment in the global isobutyric acid market is the Middle East and Africa (MEA). The MEA region is experiencing rapid growth due to increasing industrialization, infrastructural development, and the expanding chemical industry. The rising demand for isobutyric acid in sectors such as pharmaceuticals, flavors, and animal nutrition is driving the market growth in this region. Additionally, the presence of abundant raw materials and favorable government initiatives to attract investments in the chemical sector further contribute to the MEA region's potential for accelerated growth in the isobutyric acid market.
Global Isobutyric Acid Market By Geography
- Largest
- Fastest
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Isobutyric Acid Market Dynamics
Isobutyric Acid Market Drivers
Increasing demand for flavoring agents in the food and beverage industry
- One key driver of the global isobutyric acid market is the increasing demand for flavoring agents in the food and beverage industry. Isobutyric acid is widely used as a flavoring agent in various food products to enhance taste profiles and provide unique sensory experiences. The growing consumer preference for diverse flavors, coupled with the expanding global food industry, drives the demand for isobutyric acid in this sector.
Isobutyric Acid Market Restraints
Volatility of raw material prices
- One key restraint of the global isobutyric acid market is the volatility of raw material prices. Isobutyric acid is primarily produced from petrochemical-based raw materials, and fluctuations in the prices of these feedstocks can impact the overall production costs of isobutyric acid. Fluctuating raw material prices pose challenges to manufacturers in terms of cost management and pricing strategies, potentially affecting the market growth and profitability in the industry.
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Isobutyric Acid Market Competitive Landscape
The competitive landscape of the global isobutyric acid market is characterized by intense competition among key players. The market is fragmented, with several established and emerging manufacturers striving to gain a competitive edge. These players focus on product development, expanding their production capacities, and forming strategic partnerships to enhance their market presence. Additionally, technological advancements, research and development activities, and the pursuit of sustainable and eco-friendly solutions are key factors shaping the competitive dynamics in the market. The competitive landscape is further influenced by factors such as pricing strategies, supply chain management, and regulatory compliance to meet industry standards and customer requirements.
Isobutyric Acid Market Top Player’s Company Profiles
- Snowco (China)
- Shanghai Aladdin Biochemical Technology Co., Ltd. (China)
- Afyren (France)
- Lygos, Inc. (US)
- Dow Inc. (US)
- Jiangsu Dynamic Chemical Co., Ltd. (China)
- Weifang Qiyi Chemical Co., Ltd. (China)
- Yufeng International Group Co., Ltd. (China)
- Nanjing Chemical Material Corp. (China)
- FUJIFILM Wako Pure Chemical Corporation (Japan)
- Hubei Jusheng Technology Co., Ltd. (China)
- BASF SE (Germany)
- Perstorp Holding AB (Sweden)
- Sasol Ltd. (South Africa)
- Chemos GmbH & Co. KG (Germany)
- ISCA UK Ltd. (United Kingdom)
- Zhengzhou Yibang Industry Co., Ltd. (China)
Isobutyric Acid Market Recent Developments
- In January 2023, OQ Chemicals implemented an expansion project at its facilities in Germany to increase the manufacturing capacity of carboxylic acids. The company invested in a debottlenecking and optimization initiative specifically targeting precursors, aiming to enhance production efficiency.
- In January 2023, Afyren and Mitr Phol, a prominent manufacturer of cane sugar and derivatives, signed a Letter Agreement to establish a biorefinery in Thailand. This collaboration marks the construction of Afyren Group's second bio-based organic acid production facility. The strategic decision aligns with Afyren's build and operate development strategy, focusing on markets where the company sources its raw materials and serves its customers, particularly in Asia and North America.
- In April 2021, Eastman Chemical Company completed the acquisition of 3F Feed & Food, a leading European player in the development and commercialization of additives for animal feed and human food. Based in Spain, 3F's operations and assets became part of Eastman's additives & functional products segment, enhancing the company's ability to support the global expansion efforts of the animal nutrition business.
Isobutyric Acid Key Market Trends
- Increasing focus on sustainability and the demand for bio-based alternatives: One key market trend in the global isobutyric acid market is the increasing focus on sustainability and the demand for bio-based alternatives. With growing environmental concerns, there is a rising emphasis on reducing carbon footprints and adopting eco-friendly solutions. This trend has led to a shift towards the production and utilization of renewable isobutyric acid derived from sustainable feedstocks. Companies are investing in research and development of bio-based processes and technologies to meet the growing demand for sustainable chemicals, aligning with the market trend towards greener alternatives.
Isobutyric Acid Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our Global Isobutyric Acid Market analysis, the global market is experiencing significant growth driven by its versatile applications across various industries. Isobutyric acid is used as a raw material in the production of chemicals, flavors, pharmaceuticals, animal feed additives, and more. Asia Pacific dominates the market due to the presence of chemical manufacturing facilities in countries like China and India. The Middle East and Africa region is witnessing rapid growth propelled by industrialization and the expanding chemical industry. Key drivers include the demand for flavoring agents in the food and beverage industry, while the volatility of raw material prices acts as a restraint. The market is characterized by intense competition, with players focusing on product development and strategic partnerships. Additionally, the market trend highlights a growing focus on sustainability and the adoption of bio-based alternatives in response to environmental concerns.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 0.13 billion |
| Market size value in 2031 | USD 0.28 billion |
| Growth Rate | 8.9% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Isobutyric Acid Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Isobutyric Acid Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Isobutyric Acid Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Isobutyric Acid Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Isobutyric Acid Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Isobutyric Acid Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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