Carboxylic Acid Market by Product, Production Technology, Applicatiion

List of Tables

The Carboxylic Acid Market was valued at USD 17.56 billion in 2023, expected to reach USD 18.64 billion in 2024, and is projected to grow at a CAGR of 6.33%, to USD 26.99 billion by 2030.

Carboxylic acids are organic compounds characterized by the presence of a carboxyl group (-COOH). They play a crucial role in various industries due to their versatile functional properties, including being precursors to various compounds and intermediates in multiple chemical reactions. Their necessity arises from their wide range of applications, which span the production of pharmaceuticals, food additives, solvents, and polymers. The end-use scope encompasses industries such as chemical manufacturing, pharmaceuticals, food and beverages, personal care, and agriculture. The market for carboxylic acids is influenced by growth factors such as increasing demand for polymers and plastics, a growing pharmaceutical sector, and rising applications in food preservation. Sustainable production methods and the development of bio-based carboxylic acids present significant opportunities, driven by ongoing trends towards eco-friendly and renewable resources. Leveraging these opportunities requires investment in research & development, strategic collaborations, and technological advancements in production processes. However, the market faces limitations from stringent environmental regulations and volatility in raw material prices, which pose challenges to cost-effective production. Innovating in areas such as green chemistry, alternative manufacturing processes, and diversification of product offerings can foster business growth. The market nature is competitive, characterized by continual innovation and a strong emphasis on sustainability. Companies should focus on enhancing production efficiency, developing bio-based alternatives, and exploring emerging markets to capitalize on growth potential. Comprehensive market insights should inform strategic planning and decision-making to navigate these challenges effectively, while staying abreast of regulatory shifts and industry trends to remain competitive.

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%

Market Dynamics: Unveiling Key Market Insights in the Rapidly Evolving Carboxylic Acid Market

The Carboxylic Acid Market is undergoing transformative changes driven by a dynamic interplay of supply and demand factors. Understanding these evolving market dynamics prepares business organizations to make informed investment decisions, refine strategic decisions, and seize new opportunities. By gaining a comprehensive view of these trends, business organizations can mitigate various risks across political, geographic, technical, social, and economic domains while also gaining a clearer understanding of consumer behavior and its impact on manufacturing costs and purchasing trends.

Market Drivers
- Growing production of adhesives and polymers worldwide
- Increasing usage of carboxylic acid in the food & beverage and pharmaceutical sector
Market Restraints
- Environmental impact associated with the use of carboxylic acid
Market Opportunities
- Ongoing research to improve renewable fermentation of carboxylic acid from biomass
- Rising strategic investments in carboxylic acid production and expansion
Market Challenges
- Problems associated with storage and transportation of carboxylic acids

Porter's Five Forces: A Strategic Tool for Navigating the Carboxylic Acid Market

Porter's five forces framework is a critical tool for understanding the competitive landscape of the Carboxylic Acid Market. It offers business organizations with a clear methodology for evaluating their competitive positioning and exploring strategic opportunities. This framework helps businesses assess the power dynamics within the market and determine the profitability of new ventures. With these insights, business organizations can leverage their strengths, address weaknesses, and avoid potential challenges, ensuring a more resilient market positioning.

PESTLE Analysis: Navigating External Influences in the Carboxylic Acid Market

External macro-environmental factors play a pivotal role in shaping the performance dynamics of the Carboxylic Acid Market. Political, Economic, Social, Technological, Legal, and Environmental factors analysis provides the necessary information to navigate these influences. By examining PESTLE factors, businesses can better understand potential risks and opportunities. This analysis enables business organizations to anticipate changes in regulations, consumer preferences, and economic trends, ensuring they are prepared to make proactive, forward-thinking decisions.

Market Share Analysis: Understanding the Competitive Landscape in the Carboxylic Acid Market

A detailed market share analysis in the Carboxylic Acid Market provides a comprehensive assessment of vendors' performance. Companies can identify their competitive positioning by comparing key metrics, including revenue, customer base, and growth rates. This analysis highlights market concentration, fragmentation, and trends in consolidation, offering vendors the insights required to make strategic decisions that enhance their position in an increasingly competitive landscape.

FPNV Positioning Matrix: Evaluating Vendors' Performance in the Carboxylic Acid Market

The Forefront, Pathfinder, Niche, Vital (FPNV) Positioning Matrix is a critical tool for evaluating vendors within the Carboxylic Acid Market. This matrix enables business organizations to make well-informed decisions that align with their goals by assessing vendors based on their business strategy and product satisfaction. The four quadrants provide a clear and precise segmentation of vendors, helping users identify the right partners and solutions that best fit their strategic objectives.

Key Company Profiles

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

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:

Based on Product, market is studied across Acetic Acid, Butyric Acid, Caproic Acid, Citric Acid, Formic Acid, Isobutyric Acid, Isovaleric Acid, Propionic Acid, Stearic Acid, and Valeric Acid.
Based on Production Technology, market is studied across Renewable Fermentation Process and Synthetic Process. The Synthetic Process is further studied across Carboxylation of Grignard Reagents, Oxidation of Alcohols and Aldehydes, and Hydrolysis of Nitriles and Esters.
Based on Applicatiion, market is studied across Animal Feed, Consumer Goods, Food & Beverages, Lubricants, Personal Care & Cosmetics, Pharmaceuticals, and Textiles, Leather & Rubber.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom.

The report offers a comprehensive analysis of the market, covering key focus areas:

1. Market Penetration: A detailed review of the current market environment, including extensive data from top industry players, evaluating their market reach and overall influence.

2. Market Development: Identifies growth opportunities in emerging markets and assesses expansion potential in established sectors, providing a strategic roadmap for future growth.

3. Market Diversification: Analyzes recent product launches, untapped geographic regions, major industry advancements, and strategic investments reshaping the market.

4. Competitive Assessment & Intelligence: Provides a thorough analysis of the competitive landscape, examining market share, business strategies, product portfolios, certifications, regulatory approvals, patent trends, and technological advancements of key players.

5. Product Development & Innovation: Highlights cutting-edge technologies, R&D activities, and product innovations expected to drive future market growth.

The report also answers critical questions to aid stakeholders in making informed decisions:

1. What is the current market size, and what is the forecasted growth?

2. Which products, segments, and regions offer the best investment opportunities?

3. What are the key technology trends and regulatory influences shaping the market?

4. How do leading vendors rank in terms of market share and competitive positioning?

5. What revenue sources and strategic opportunities drive vendors' market entry or exit strategies?

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. Porter's Five Forces Analysis
- 5.3.1. Threat of New Entrants
- 5.3.2. Threat of Substitutes
- 5.3.3. Bargaining Power of Customers
- 5.3.4. Bargaining Power of Suppliers
- 5.3.5. Industry Rivalry
5.4. PESTLE Analysis
- 5.4.1. Political
- 5.4.2. Economic
- 5.4.3. Social
- 5.4.4. Technological
- 5.4.5. Legal
- 5.4.6. Environmental
5.5. Client Customization

5.5.1. 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
- 7.3.1. Carboxylation of Grignard Reagents
- 7.3.2. Oxidation of Alcohols and Aldehydes
- 7.3.3. Hydrolysis of Nitriles and Esters

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

Companies Mentioned

1. Kanto Chemical Co., Inc.
2. BASF SE
3. Mitsui Chemicals, Inc.
4. ProChem, Inc.
5. abcr GmbH
6. Merck KGaA
7. AFYREN SA
8. Kaneka Corporation
9. JSR Corporation
10. Kakdiya Chemicals
11. INEOS Group
12. Alfa Aesar by Thermo Fisher Scientific Inc.
13. FINETECH INDUSTRY LIMITED
14. Finar Limited by Actylis
15. Firmenich SA
16. Ajinomoto Co., Inc.
17. Ascentus Organics Pvt. Ltd.
18. The Dow Chemical Company
19. OQ Chemicals GmbH
20. LyondellBasell Industries Holdings B.V.
21. Ashok Alco - chem Limited
22. Wacker Chemie AG
23. EBRATOR BIOCHEMICALS,INC.
24. Vigon International, LLC
25. Ashland Inc.
26. Kao Corporation
27. ALPHA CHEMIKA
28. Noah Chemicals, INC.
29. Koninklijke DSM N.V.
30. FUJIFILM Wako Pure Chemical Corporation
31. Eastman Chemical Company
32. Celanese Corporation
33. Volu-Sol
34. Redox Industries Limited
35. Tokyo Chemical Industry Co., Ltd.
36. Evonik Industries AG
37. Hibrett Puratex
38. Thirumalai Chemicals Ltd.
39. The Lubrizol Corporation
40. Petroliam Nasional Berhad (PETRONAS)
41. Innospec Inc.
42. VanDeMark Chemical, Inc.
43. VVF L.L.C.