Carboxylic Acid Market by Product, Production Technology, Applicatiion

List of Tables

[197 Pages Report] The Carboxylic Acid Market size was estimated at USD 17.56 billion in 2023 and expected to reach USD 18.64 billion in 2024, at a CAGR 6.33% to reach USD 26.99 billion by 2030.

Carboxylic acid, an essential component in the field of organic chemistry, is a type of organic compound characterized by the presence of a carboxyl group (COOH). The general molecular formula for carboxylic acids is R-COOH, where R represents an alkyl or aryl group. Carboxylic acids play a crucial role in various biological processes and industrial applications, and it is derived from a variety of sources, such as alcohols and aldehydes. The demand for animal feed has led to a surge in the need for carboxylic acids as essential ingredients in feed formulations. Moreover, there has been a notable rise in the utilization of carboxylic acid in the food & beverage sector, owing to its properties as a food preservative, flavoring agent, and pH regulator. Additionally, the continuous expansion of the pharmaceutical sector worldwide offers promising prospects for applying carboxylic acids in drug synthesis and formulation. Fluctuating costs and raw materials used in carboxylic acid production impact its affordability and availability in various industries. The storage and transportation of carboxylic acids represent significant challenges due to their corrosive nature and sensitivity to environmental conditions. However, the development of renewable fermentation of carboxylic acid from biomass sources, which can lead to sustainable and cost-effective production methods and utilizing CO2 for synthesizing carboxylic acids, presents an innovative approach that could contribute to reducing carbon emissions while generating valuable chemical compounds.

KEY MARKET STATISTICS
Base Year [2023]	USD 17.56 billion
Estimated Year [2024]	USD 18.64 billion
Forecast Year [2030]	USD 26.99 billion
CAGR (%)	6.33%

Product: Significant preferences for acetic and isobutyric acid depending on chemical properties

Acetic acid is an essential carboxylic acid widely utilized in the manufacturing of vinyl acetate monomer, acetic anhydride, and ester solvents for utilization in food & beverages, pharmaceuticals, and textiles industries. Butyric acid has antimicrobial properties and potential health benefits and finds applications in various industries, such as food flavoring, pharmaceuticals, and animal feed additives. Production of esters for the flavors and fragrances industry utilizes caproic acid in the manufacturing processes. Citric acid is a weak organic acid occurring naturally in citrus fruits and has a wide scope of applications, such as food & beverage manufacturing, pharmaceuticals, and personal care products, as a preservative, flavor enhancer, and acidity regulator. Formic acid is extensively used as a preservative and antibacterial agent in various industries such as agriculture, leather tanning, and textile printing. The increasing demand for isobutyric acid is attributed to its use as an intermediate chemical for the production of esters used in the flavors and fragrances industry. The demand for isovaleric acid has been increasing due to its applications in food flavoring and pharmaceuticals. The need for propionic acid has grown significantly due to its antimicrobial properties and use as an intermediate chemical for the production of various derivatives used in food preservatives, animal feed additives, and pharmaceuticals.

Production Technology: Significance of renewable fermentation process over synthetic production process

Renewable fermentation is a sustainable method of producing carboxylic acids by utilizing microorganisms and renewable feedstocks such as biomass or waste materials. The renewable fermentation method offers several advantages over conventional processes, including reduced environmental impact and lower raw material costs. The synthetic process involves creating carboxylic acids through chemical reactions using petrochemical-derived raw materials as starting points. Synthetic methods are well-established in the market due to the nature of production techniques and higher production capacities.

Application: Emerging utilization of the carboxylic acid in the pharmaceuticals and lubricants

Carboxylic acids, particularly short-chain fatty acids such as formic and propionic acids, are used as preservatives and pH regulators in animal feed formulations. Citric acid is widely used in formulating consumer goods such as detergents, cleaning agents, plasticizers, adhesives, and other household products due to its chelating properties and biodegradability. The food industry uses carboxylic acids such as acetic acid, lactic acid, malic acid, and tartaric acid for flavor enhancement, preservation, acidity regulation, texturization, or microbial control purposes. Carboxylic acids and their derivatives serve as critical building blocks for producing synthetic lubricants, corrosion inhibitors, or metalworking fluids. Carboxylic acids such as caprylic, glycolic, and salicylic acids play vital roles in skin care products as exfoliants, emollients, or antimicrobial agents. Adipic acid, sebacic acid, and terephthalic are essential constituents in the textile, leather, and rubber industries for use in nylon production and plasticizer manufacturing. Carboxylic acids exhibit diverse biological activities such as analgesic, antiviral, anti-inflammatory, or anticancer properties in the pharmaceutical industry.

Regional Insights

In the Americas region, the United States majorly contributes to the market growth with strong demand for high-performance polymers used in aerospace and automotive industries. The public and private sector in the Americas region is investing in developing renewable approaches to produce carboxylic acids from biomass feedstocks. European countries, including Germany, France, and Italy, contribute significantly to the demand for carboxylic acids due to their robust automotive, pharmaceutical, and consumer goods industries. The Middle East and Africa's market growth is influenced by the expanding oil & gas sector utilizing petrochemical derivatives containing carboxylic acids. The APAC region has witnessed significant market growth due to rapid urbanization and industrialization, leading to an increased demand for carboxylic acid products. In the APAC region, China and Japan have the presence of notable market players due to their massive manufacturing capabilities and growing application industries such as textiles, pharmaceuticals, automotive, and personal care products.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Carboxylic Acid Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Carboxylic Acid Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Carboxylic Acid Market, highlighting leading vendors and their innovative profiles. These include abcr GmbH, AFYREN SA, Ajinomoto Co., Inc., Alfa Aesar by Thermo Fisher Scientific Inc., ALPHA CHEMIKA, Ascentus Organics Pvt. Ltd., Ashland Inc., Ashok Alco - chem Limited, BASF SE, Celanese Corporation, Eastman Chemical Company, EBRATOR BIOCHEMICALS,INC., Evonik Industries AG, Finar Limited by Actylis, FINETECH INDUSTRY LIMITED, Firmenich SA, FUJIFILM Wako Pure Chemical Corporation, Hibrett Puratex, INEOS Group, Innospec Inc., JSR Corporation, Kakdiya Chemicals, Kaneka Corporation, Kanto Chemical Co., Inc., Kao Corporation, Koninklijke DSM N.V., LyondellBasell Industries Holdings B.V., Merck KGaA, Mitsui Chemicals, Inc., Noah Chemicals, INC., OQ Chemicals GmbH, Petroliam Nasional Berhad (PETRONAS), ProChem, Inc., Redox Industries Limited, The Dow Chemical Company, The Lubrizol Corporation, Thirumalai Chemicals Ltd., Tokyo Chemical Industry Co., Ltd., VanDeMark Chemical, Inc., Vigon International, LLC, Volu-Sol, VVF L.L.C., and Wacker Chemie AG.

Market Segmentation & Coverage

This research report categorizes the Carboxylic Acid Market to forecast the revenues and analyze trends in each of the following sub-markets:

Product
- Acetic Acid
- Butyric Acid
- Caproic Acid
- Citric Acid
- Formic Acid
- Isobutyric Acid
- Isovaleric Acid
- Propionic Acid
- Stearic Acid
- Valeric Acid

Production Technology
- Renewable Fermentation Process
- Synthetic Process
  - Carboxylation of Grignard Reagents
  - Oxidation of Alcohols and Aldehydes
  - Hydrolysis of Nitriles and Esters
Applicatiion
- Animal Feed
- Consumer Goods
- Food & Beverages
- Lubricants
- Personal Care & Cosmetics
- Pharmaceuticals
- Textiles, Leather & Rubber

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Carboxylic Acid Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Carboxylic Acid Market?

3. What are the technology trends and regulatory frameworks in the Carboxylic Acid Market?

4. What is the market share of the leading vendors in the Carboxylic Acid Market?

5. Which modes and strategic moves are suitable for entering the Carboxylic Acid Market?

Product Code: MRR-433AB1DC287C

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Growing production of adhesives and polymers worldwide
  - 5.1.1.2. Increasing usage of carboxylic acid in the food & beverage and pharmaceutical sector
- 5.1.2. Restraints
  - 5.1.2.1. Environmental impact associated with the use of carboxylic acid
- 5.1.3. Opportunities
  - 5.1.3.1. Ongoing research to improve renewable fermentation of carboxylic acid from biomass
  - 5.1.3.2. Rising strategic investments in carboxylic acid production and expansion
- 5.1.4. Challenges
  - 5.1.4.1. Problems associated with storage and transportation of carboxylic acids
5.2. Market Segmentation Analysis
- 5.2.1. Product: Significant preferences for acetic and isobutyric acid depending on chemical properties
- 5.2.2. Production Technology: Significance of renewable fermentation process over synthetic production process
- 5.2.3. Application: Emerging utilization of the carboxylic acid in the pharmaceuticals and lubricants
5.3. Market Trend Analysis
- 5.3.1. Advanced chemical industry infrastructure and high consumption of carboxylic acid derivatives fueled with biodegradable and eco-friendly products demands in the Americas
- 5.3.2. Wide presence of global and native carboxylic acid companies owing to the region's strength in offering economies-of-scale production capabilities
- 5.3.3. Expanding the availability with a rising focus on using sustainable sources for producing carboxylic acid in the EMEA region
5.4. Cumulative Impact of High Inflation
5.5. Porter's Five Forces Analysis
- 5.5.1. Threat of New Entrants
- 5.5.2. Threat of Substitutes
- 5.5.3. Bargaining Power of Customers
- 5.5.4. Bargaining Power of Suppliers
- 5.5.5. Industry Rivalry
5.6. Value Chain & Critical Path Analysis
5.7. Regulatory Framework Analysis
5.8. Client Customization

5.8.1. Production cost Comparison and Analysis of Carboxylic Acid by Renewable Fermentation and Synthetic Process:

6. Carboxylic Acid Market, by Product

6.1. Introduction
6.2. Acetic Acid
6.3. Butyric Acid
6.4. Caproic Acid
6.5. Citric Acid
6.6. Formic Acid
6.7. Isobutyric Acid
6.8. Isovaleric Acid
6.9. Propionic Acid
6.10. Stearic Acid
6.11. Valeric Acid

7. Carboxylic Acid Market, by Production Technology

7.1. Introduction
7.2. Renewable Fermentation Process
7.3. Synthetic Process

8. Carboxylic Acid Market, by Applicatiion

8.1. Introduction
8.2. Animal Feed
8.3. Consumer Goods
8.4. Food & Beverages
8.5. Lubricants
8.6. Personal Care & Cosmetics
8.7. Pharmaceuticals
8.8. Textiles, Leather & Rubber

9. Americas Carboxylic Acid Market

9.1. Introduction
9.2. Argentina
9.3. Brazil
9.4. Canada
9.5. Mexico
9.6. United States

10. Asia-Pacific Carboxylic Acid Market

10.1. Introduction
10.2. Australia
10.3. China
10.4. India
10.5. Indonesia
10.6. Japan
10.7. Malaysia
10.8. Philippines
10.9. Singapore
10.10. South Korea
10.11. Taiwan
10.12. Thailand
10.13. Vietnam

11. Europe, Middle East & Africa Carboxylic Acid Market

11.1. Introduction
11.2. Denmark
11.3. Egypt
11.4. Finland
11.5. France
11.6. Germany
11.7. Israel
11.8. Italy
11.9. Netherlands
11.10. Nigeria
11.11. Norway
11.12. Poland
11.13. Qatar
11.14. Russia
11.15. Saudi Arabia
11.16. South Africa
11.17. Spain
11.18. Sweden
11.19. Switzerland
11.20. Turkey
11.21. United Arab Emirates
11.22. United Kingdom

12. Competitive Landscape

12.1. Market Share Analysis, 2023
12.2. FPNV Positioning Matrix, 2023
12.3. Competitive Scenario Analysis
- 12.3.1. INEOS Announces the Acquisition of the Eastman Texas City Site for Approx. USD 500 million
- 12.3.2. Perstorp Launches Carboxylic Acids Produced with 100% Renewable Content
- 12.3.3. US Celanese Mechanically Completes Clear Lake Acetic Acid Plant
- 12.3.4. OQ Chemicals Launches Bio-Based ISCC PLUS Certified Isononanoic Acid
- 12.3.5. AFYREN Entering A Partnership Project With Mitr Phol, A Player In The Sugar Industry
- 12.3.6. OQ Chemicals Expanding Capacity for Carboxylic Acids
- 12.3.7. Sasol and Nordmann Expand Partnership in The Personal Care Sector
- 12.3.8. PCG Completes Acquisition of Perstorp
- 12.3.9. AFYREN Launches Flavyren Portfolio of Carboxylic Acids
- 12.3.10. Perstorp to Double Carboxylic Acid Production Capacity as Demand Continues to Rise Across Markets

13. Competitive Portfolio

13.1. Key Company Profiles
13.2. Key Product Portfolio