The Latest Carboxylic Acid Industry Statistics Explained
The global carboxylic acid market size was valued at USD 13.0 billion in 2015.
The statistic highlights the market size of carboxylic acids worldwide, which was valued at USD 13.0 billion in 2015. This figure represents the total monetary value of carboxylic acid products sold in the global market during that year. Carboxylic acids are organic compounds with a carboxyl group consisting of a carbon atom double-bonded to an oxygen atom and single-bonded to a hydroxyl group. They are widely used in various industries such as pharmaceuticals, food and beverage, cosmetics, and agriculture. The market size of carboxylic acids serves as a crucial indicator of the economic significance and demand for these versatile compounds across different sectors.
The global carboxylic acid market is predicted to grow at a CAGR of 5.4% from 2020 to 2027.
This statistic indicates that the global carboxylic acid market is expected to experience consistent growth over the period from 2020 to 2027, with a Compound Annual Growth Rate (CAGR) of 5.4%. The CAGR represents the average annual growth rate of the market during this timeframe, implying that the market is projected to expand steadily. This growth forecast suggests that there is increasing demand for carboxylic acids across various industries, such as pharmaceuticals, food and beverage, and polymers, driving the overall market growth. Factors contributing to this growth could include technological advancements, evolving consumer preferences, and expanding applications for carboxylic acids in different sectors, positioning the market for substantial development in the coming years.
Animal feed industry accounts for around 40-45% of the total global consumption of formic acid, a carboxylic acid.
The statistic reveals that approximately 40-45% of the worldwide usage of formic acid, a type of carboxylic acid, is allocated to the animal feed industry. Formic acid plays a crucial role in various industries as a preservative, disinfectant, and acidifying agent, but its largest application by consumption is within animal feed production. Formic acid is utilized in animal feed for its antimicrobial properties, aiding in the prevention of bacterial growth and ensuring feed quality and animal health. The significant proportion of formic acid directed towards the animal feed industry underscores its importance in ensuring the efficiency and safety of animal feed production globally.
In 2015, the acetic acid segment accounted for a significant share of 34.0% of the overall volume in North America.
In 2015, the acetic acid segment held a substantial proportion of 34.0% of the total volume in North America, indicating its significant presence and influence within the region’s market. This statistic suggests that acetic acid, a key chemical compound widely used in various industries such as food and beverage, pharmaceuticals, and chemicals, played a major role in the overall volume of products consumed or produced in North America during that year. The high percentage share highlights the importance of acetic acid as a critical component in numerous manufacturing processes and applications across different sectors in the region.
The global carboxylic acids market value is projected to reach USD 20.02 billion by 2022.
The statistic “The global carboxylic acids market value is projected to reach USD 20.02 billion by 2022” indicates that analysts and researchers have forecasted that the total market value for carboxylic acids, a type of organic compound commonly used in various industries such as food and beverages, pharmaceuticals, and chemicals, is expected to grow and reach a value of $20.02 billion by the year 2022. This projection suggests an upward trend in demand for carboxylic acids globally, reflecting potential growth opportunities and market expansion in the coming years. Factors driving this growth could include increasing industrial applications, technological advancements, and evolving consumer preferences.
The stearic acid market alone is expected to exceed USD 11.1 billion by 2025.
The statistic indicates that the stearic acid market is projected to surpass a value of USD 11.1 billion by the year 2025. This forecast suggests a significant growth trajectory for the stearic acid industry, driven by factors such as increasing demand from various end-use sectors, including food, personal care products, pharmaceuticals, and industrial applications. The anticipated growth in market value underscores the economic importance and market potential of stearic acid, prompting further investment and innovation in the sector to meet the rising demand and capitalize on the expanding market opportunities.
The market for carboxylic acids based esters is expected to reach USD 13.54 billion by 2021.
This statistic indicates that the market for carboxylic acids-based esters is projected to grow significantly and reach a value of USD 13.54 billion by the year 2021. This growth forecast suggests an increasing demand for products and applications related to carboxylic acids-based esters in various industries such as pharmaceuticals, cosmetics, food and beverages, and polymers among others. Factors driving this expected market expansion may include advancements in technology, rising consumer awareness of environmentally friendly products, and the versatility of carboxylic acids-based esters for various industrial applications. The projected market value serves as a key indicator of the potential opportunities and growth in the market for carboxylic acids-based esters in the near future.
Asia-Pacific is expected to witness the highest growth rate in the carboxylic acids-based esters market during the forecast period 2020 to 2025.
The statistic indicates that the Asia-Pacific region is projected to experience the most significant increase in demand and market growth for carboxylic acids-based esters between the years 2020 to 2025. This suggests that factors such as growing industrialization, increasing investments in various industries, and expanding applications of carboxylic acids-based esters in sectors like automotive, pharmaceuticals, and cosmetics are contributing to this anticipated growth. The region’s economic development, favorable government policies, and expanding consumer base are likely driving the demand for these products. Overall, the forecast highlights the Asia-Pacific region as a key market for carboxylic acids-based esters with promising growth potential over the specified period.
Europe dominates the carboxylic acids market with a share of more than 35%.
The statistic ‘Europe dominates the carboxylic acids market with a share of more than 35%’ indicates that Europe holds a significant portion of the global market for carboxylic acids. This means that more than one-third of the total market for carboxylic acids is controlled by Europe. This dominance suggests that European countries are key players in the production, consumption, and trade of carboxylic acids, a group of organic compounds with various industrial applications. The statistic further implies that Europe likely has a competitive advantage in the carboxylic acids market compared to other regions, and it may influence market dynamics and pricing trends within the industry.
Acetic acid demand in vinegar production is projected to grow at a CAGR of 6.8% from 2016 to 2025.
This statistic indicates that the demand for acetic acid in vinegar production is expected to increase steadily at a compound annual growth rate (CAGR) of 6.8% over the period from 2016 to 2025. This projection suggests a consistent and robust growth trend in the demand for acetic acid, which is a key ingredient in vinegar manufacturing. Factors driving this growth could include increased consumption of vinegar both as a food product and for various industrial applications, as well as potential expansion of the vinegar market globally. This information is valuable for stakeholders in the acetic acid and vinegar industries, providing insights for strategic planning, resource allocation, and decision-making processes to capitalize on the projected growth opportunities.
Stearic acid consumption in soaps & detergents was over 3,000 kilo tons in 2015.
The statistic states that the consumption of stearic acid in the production of soaps and detergents exceeded 3,000 kilo tons in the year 2015. Stearic acid is a saturated fatty acid commonly derived from animal and vegetable fats and is used in the manufacturing of various consumer goods, including soaps and detergents. The large quantity of stearic acid consumed indicates the significant role it plays in the production of these products and suggests a high demand for soaps and detergents in the market during that year. This statistic highlights the importance of stearic acid as a key ingredient in the soap and detergent industry and underscores its widespread utilization in meeting consumer needs for hygiene and cleanliness products.
Stearic acid accounted for over 25% of the global carboxylic acid market volume in 2015.
The statistic indicates that stearic acid was a significant component of the global carboxylic acid market volume in 2015, with a share of over 25%. This suggests that stearic acid was one of the most widely used carboxylic acids during that time period. The high market share may be attributed to various factors such as the versatile applications of stearic acid in industries like cosmetics, food, pharmaceuticals, and personal care products. The statistic highlights the prominence and importance of stearic acid in the carboxylic acid market landscape in 2015.
The global formic acid market is expected to reach USD 878.7 million by 2028.
This statistic indicates a projected value for the global formic acid market to reach USD 878.7 million by the year 2028. Formic acid is a versatile organic compound used in various industries such as agriculture, chemicals, and pharmaceuticals. The growth in the formic acid market is likely driven by factors such as increasing demand for preservatives in animal feed, growth in the textile industry, and advancements in chemical manufacturing processes. This projection suggests potential opportunities for market expansion and increased investments in formic acid production and related industries over the next few years.
In 2019, the Textiles & Leather industry led the carboxylic acid market with a share of 19.5%.
The statistic indicates that in 2019, the Textiles & Leather industry held the largest market share within the carboxylic acid market, accounting for 19.5% of total sales in that industry. This suggests that the Textiles & Leather industry was the top consumer of carboxylic acids among all industries during that year. The significance of this statistic could be attributed to the fact that carboxylic acids are commonly used in the production of various materials in the Textiles & Leather industry, such as dyes, finishes, and coatings, which are essential for the manufacturing processes within this sector. This data points to the importance of carboxylic acids in sustaining the operations and growth of businesses within the Textiles & Leather industry.
The Asia Pacific region dominated the carboxylic acid market with more than 45% of the total market share in 2019.
The statement indicates that in 2019, the Asia Pacific region held the largest market share in the carboxylic acid market, accounting for over 45% of the total market. This implies that a significant portion of the global demand for carboxylic acids, which are organic compounds commonly used in various industrial applications such as food and beverage, pharmaceuticals, and agriculture, was concentrated in Asia Pacific countries. The dominance of this region suggests strong demand, production, or both, in the industry within Asia Pacific compared to other regions globally, making it a key player and potentially influencing market trends and dynamics in the carboxylic acid market.
Caproic acid market size from flavours & fragrances application was valued above $650 million in 2017.
The statistic indicates that the market size of caproic acid within the flavours & fragrances application sector exceeded $650 million in the year 2017. This suggests that caproic acid, a fatty acid typically derived from animal fats or plant oils, plays a significant role within the flavours and fragrances industry, likely due to its characteristic odor and flavor properties. The substantial valuation of over $650 million reflects the demand for caproic acid in creating various scents and tastes within products such as perfumes, cosmetics, food items, and beverages. This statistic underscores the economic importance and widespread usage of caproic acid in the flavours and fragrances market during the specified year.
The demand for valeric acid in pharmaceuticals is anticipated to increase to around 26,000 kilotons by 2025.
The statistic indicates that there is expected to be a significant rise in the demand for valeric acid in the pharmaceutical industry by the year 2025. The projected increase to around 26,000 kilotons suggests a strong growth trajectory for the utilization of valeric acid, likely driven by factors such as expanding pharmaceutical production, research and development activities, and emerging applications in drug formulations. This anticipated surge in demand highlights the importance of valeric acid as a key ingredient in pharmaceutical products and underscores its critical role in the industry’s ongoing development and advancements.
Propionic acid demand in food preservation and animal feed accounted for 52.7% of the global volume in 2015.
The statistic “Propionic acid demand in food preservation and animal feed accounted for 52.7% of the global volume in 2015” indicates that a significant portion of the global use of propionic acid in 2015 was attributed to its application in food preservation and animal feed. This suggests that propionic acid plays a crucial role in maintaining the freshness and quality of food products as well as in enhancing the nutritional content of animal feed. The high percentage of global volume allocated to these particular sectors highlights the importance of propionic acid in ensuring food safety and security, while also underscoring its significance in supporting the agricultural industry by promoting animal health and growth.
Butyric acid market is anticipated to exceed $350 million by 2024.
The statistic “Butyric acid market is anticipated to exceed $350 million by 2024” indicates that the market size for butyric acid, a type of carboxylic acid used in various industries such as food, pharmaceuticals, and animal feed, is expected to grow significantly over the next few years. This forecast suggests that there is increasing demand for butyric acid products, which can be attributed to factors such as its diverse applications, evolving consumer preferences, and technological advancements in production processes. With a projected value exceeding $350 million by 2024, it highlights the potential growth opportunities and market expansion in the butyric acid industry.
North America acetic acid market share is projected to expand at over 3.9% CAGR through 2026.
This statistic indicates that the North America acetic acid market is expected to grow steadily at a compound annual growth rate (CAGR) of over 3.9% through the year 2026. This projection suggests that the market share of acetic acid in North America is anticipated to increase at a consistent rate over the specified period. Factors such as increasing demand for acetic acid in various industries, including chemicals, textiles, and food processing, as well as potential growth opportunities in the region, are likely contributing to this projected expansion. The CAGR figure serves as a measure of the average annual growth rate of the market share and provides insights into the potential growth trajectory of the North America acetic acid market in the coming years.
Conclusion
The statistics presented on the carboxylic acid industry clearly highlight the significant impact this sector has on various industries and economies. With a steady growth trajectory and increasing applications in sectors such as pharmaceuticals, food and beverage, and agriculture, the future looks promising for the carboxylic acid market. Businesses and policymakers can leverage these insights to make informed decisions and capitalize on emerging opportunities in this dynamic industry.
References
0. – https://www.www.grandviewresearch.com
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4. – https://www.www.polarismarketresearch.com
5. – https://www.www.mordorintelligence.com
