Global Carboxylic Acid Market: Emerging Trends and New Technologies Research 2017 – 2024

According to Global Market Insights, Inc., "Carboxylic acid market size is projected to hit USD 20 billion by 2024."

Carboxylic acid market revenue is forecast to display a high surge over the coming seven years, owing to its wide applications across consumer goods, food & beverages, pharmaceuticals, lubricants, animal feed, and personal care & cosmetics. Rising application of organic acids as growth promoters in the animal feed additives market is projected to drive the carboxylic acid industry size over the coming years. Moreover, enhanced use of vinyl acetate monomer for storing and packing food products & beverages, is anticipated to drive the industry growth in the near future. Today, people are more beauty conscious and this has boosted the sale of cosmetics, skin care products, and personal care products. Furthermore, the growing application of valeric acid, stearic, and butyric in manufacturing such products will favorably impact the market trends over the coming years.

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In fact, consumer goods sector, which contributed over 35% of the overall revenue in 2015, is a key application area projected to drive carboxylic acid industry size over the coming timeframe. Enhanced use of plastics in electronics, packaging, and construction sectors is expected to be the key growth drivers. Carboxylic acid market share in food & beverages sector is forecast to grow considerably over the next few years, driven by its growing use to coat food packaging products.

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Carboxylic acid industry is segmented into isobutyric acid, acetic acid, propionic acid, isovaleric acid, formic acid, valeric acid, butyric acid, caproic acid, citric acid, and stearic acid. Rising application of acetic acid across food & beverages sector is expected to boost the industry growth over the coming seven years. Acetic acid market is predicted to contribute significantly towards the overall industry revenue, having attained revenue of USD 5.5 billion in 2015. Furthermore, stearic acid market is anticipated to stimulate the industry growth over the next few years, driven by its extensive use across cosmetics & personal care sector along with its growing application in lubricants & softening products.

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Below are the regional trends impacting Carboxylic AcidMarketover 2016-2024

• Asia Pacific carboxylic acid industry, which accounted for nearly 50% of overall revenue in 2015, is forecast to record a CAGR of 5% over the period of 2016-2024, on account of massive growth observed across consumer goods and food & beverages sector. Japan and China are predicted to be the major revenue pockets.
• North America Carboxylic AcidMarketvalue, which was estimated at USD 2 billion in 2015, is anticipated to observe a high surge over the next few years.
• Europe carboxylic acid industry, worth USD 3 billion in 2015, is projected to grow substantially over the coming timeframe.

Key industry participants include Celanese Corporation, LyondellBasell Industries, Jiangsu Sopo Group, Alfa Aesar, The Dow Chemical Company, BASF SE, Eastman Chemical Company, Perstorp Holding, and OXEA Corporation.

Related Report:

Sodium Lauryl Sulfate (SLS) Market Size By Product (Liquid, Dry [Powder, Needles, Granules]), By Application (Dish Washing Liquids, Household Detergents & Cleaners, Industrial Cleaners, Personal Care Products), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, China, India, Japan, Australia, Indonesia, Malaysia, Brazil, Mexico, South Africa, GCC), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024

https://www.gminsights.com/industry-analysis/sodium-lauryl-sulfate-SLS-market

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