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Updated on : August 22,
The global isobutyric acid market was valued at USD 180 million in and is projected to reach USD 269 million by , growing at 8.3% cagr from to . The demand for isobutyric acid is closely related to its applications in different industries. Industries such as food & flavors, pharmaceuticals, animal feed, chemicals, polymers, and agriculture utilize isobutyric acid in their processes.
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Isobutyric acid is an intermediate which is utilized as a solvent in processes that produce pleasant aromas and flavors. According to EFFA, the flavoring industry, a relatively dynamic sector of the economy, spends about 10% of its annual revenue on research and development (R&D). At present, manufacturers aim at creating inventive organic flavors as a result of technological advancements addressing shifting consumer tastes and needs. Thus, the use of isobutyric acid in the growing food & flavor industry is a major driver for the Isobutyric Acid Industry.
The market is expected to experience restraints due to health risks related to handling isobutyric acid. The effects of isobutyric acid inhalation include coughing, throat pain, and respiratory issues. Consuming isobutyric acid may cause a person to collapse or stomach pain. Isoutyric acid can irritate the skin, burn, cause blisters, and continuous exposure can impair vision. Thus, such health concerns restrain the growth of the market.
Isobutyric acid can be produced from renewable feedstocks, making it a potential bio-based alternative to petroleum-based chemicals. The use of bio-based chemicals is being encouraged by governmental legislation and policies that support sustainability and the use of renewable resources. The discovery and manufacture of bio-based compounds such as isobutyric acid are encouraged by incentives, R&D, and renewable energy programmers, which creates opportunity for market demand.
The price volatility of raw materials for isobutyric acid can be attributed to fluctuations in the prices of various feedstocks, which can be impacted by variables such as supply-demand dynamics, geopolitical events, and changes in production capabilities. Also, as isobutyric acid can be derived from petroleum-based feedstocks, the prices of crude oil and its derivatives can have a significant impact on the raw material costs for isobutyric acid. Crude oil prices have been constantly fluctuating since the drop in . The prices again dipped in and , with a steady increase from Jan to March . Thus, such fluctuation of crude oil prices poses a challenge for the market.
Prominent companies in this market include well-established, financially stable isobutyric acid manufacturers. These companies have been operating in the market for several years and possess a strong product portfolio and strong global sales and marketing networks. Prominent companies in this market include OQ Chemicals GmbH (Germany), Eastman Chemical Company (US), Tokyo Chemical Industry Co., Ltd. (Japan), Snowco (China), Shanghai Aladdin Biochemical Technology Co., Ltd. (China).
The synthetic isobutyric acid segment is projected to have the larger share of the isobutyric acid market during to . Isobutyric acid is synthesized chemically with petroleum feedstocks as raw materials, or it can be biosynthesized with sugar or starch. Synthetic isobutyric acid is used in various end-uses such as agricultural intermediates, food & flavors, chemical intermediates, protective coatings, pharmaceutical chemicals, and fragrance ingredients. Thus, the growth of synthetic isobutyric acid segment can be attributed to the cost effectiveness and easy accessibility of raw materials which include petroleum feedstocks.
The animal feed segment is projected to have the largest market share during to . Isobutyric acid is used as a feed additive to enhance nutritional benefits and act as a growth promoter. It can also contribute to the feed flavor increasing its intake while boosting animal health. Thus, such factors will propel the growth of this segment.
Increasing demand for isobutyric acid from the animal feed industry is leading to the growth of the Asia Pacific market. Also, the rising population aided with urbanization in emerging economies such as China, India, Japan, and South Korea are increasing the demand for processed food items. Isobutyric acid being used as a feed additive and a flavoring agent in food & flavor is driving the Asia Pacific market.
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OQ Chemicals GmbH (Germany), Eastman Chemical Company (US), Tokyo Chemical Industry Co., Ltd. (Japan), 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) are among the major players leading the market through their geographical presence, enhanced production capacities, and efficient distribution channels.
Report Metric
Details
Market Size Value in
USD 180 million
Revenue Forecast in
USD 269 million
CAGR
8.3%
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Market Size Available for Years
to
Base Year Considered
Forecast Period
&#;
Forecast Units
Value (USD Million), Volume (KiloTons)
Segments Covered
Grade, Purity, Type, End-Use, and Region
Geographies Covered
Europe, Asia Pacific, North America, and RoW.
Companies Covered
The major market players include are OQ Chemicals GmbH (Germany), Eastman Chemical Company (US), Tokyo Chemical Industry Co., Ltd. (Japan), 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), and others
This research report categorizes the isobutyric acid market based on grade, purity, type, end-use, and region.
What is the current size of the isobutyric acid market?
The isobutyric acid market is projected to grow from USD 180 million in to USD 269 million by , at a CAGR of 8.3% from to .
Which region is expected to hold the highest market share in the isobutyric acid market?
The isobutyric acid market in Asia Pacific is estimated to hold the highest market share, owing to the increase in demand for high-quality meat products which has led to the high demand for feed additives.
Which is the major end-use industry of isobutyric acid?
The animal feed segment is the major end-use industry of isobutyric acid.
Who are the major players operating in the isobutyric acid market?
The major players operating in the market include OQ Chemicals GmbH (Germany), Eastman Chemical Company (US), Tokyo Chemical Industry Co., Ltd. (Japan), Snowco (China), Shanghai Aladdin Biochemical Technology Co., Ltd. (China).
What is the total CAGR expected to record for the isobutyric acid market during -?
The market is expected to record a CAGR of 8.3% from -. .
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