Rockville , Sept. 14, 2023 (GLOBE NEWSWIRE) -- As per Fact.MR, a provider of market research and competitive intelligence, the global Butyric Acid Market will grow at a 16.6% CAGR from 2022 to 2032, from a market size of US$ 307.2 million in 2021 to US$ 1.6 billion by 2032.
The growth of the market for Synthetic Butyric acid is projected to expand at a CAGR of around 17.6% during 2022 – 2032. The value of Synthetic Butyric Acid Market increased at a CAGR of around 12% during 2017 – 2021. Synthetic butyric acid is a chemically synthesized butyric acid that is mostly utilized in industry. Synthetic butyric acid is used to make printing inks, disinfectants, tastes, medications, and perfumes, among other things. Butyrate of cellulose acetate (CAB) is made from synthetic butyric acid and is utilized in a variety of devices, components, and coatings.
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Key Segments of Butyric Acid Industry Research Report
| By Product Type | By Application | By Region |
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Cost Effectiveness of Butyric Acid Propels its Demand in Animal Feed Applications
Butyric acid is utilized to promote gut health in animals. As a result, there is high demand for butyric acid in animal feed industry as it also enhances animal performance and intestinal health. Butyric acid also used to promote nutritional absorption in animals. The growth of butyric acid is driven by rising demand for animal feed, specifically for pigs and poultry. Butyric acid is cost effective as it costs US$ 0.15 per kilogram and further helps in reducing cost of feed for animals. Butyric acid is used in feed as it protects broiler chicken from salmonella enteritis infection.
Besides, butyric acid is well known for its anti-cancer properties. The chemical is also being studied by researchers for its ability to prevent colon cancer. According to some studies, it can also be used to treat Crohn’s disease and irritable bowel syndrome. These factors are driving the growth of butyric acid market.
Impact of Covid-19 on Butyric Acid Market
The disruption in the supply chain caused decrease in demand for butyric acid, which adversely affected market growth. During the pandemic, there was decrease in demand for butyric acid in the food and flavor industry. In addition, demand for animal-derived products also reduced, which created a direct impact on the demand for butyric acid market worldwide. During pandemic, butyric acid market was also affected due to shortage of labour.
Key Takeaways from the Study
- Butyric Acid Market was valued at US$ 307.2 Mn in 2021. According to Fact.MR, Butyric Acid Market revenue would increase 4.6X between 2022 and 2032, reaching roughly US$ 1.6 Bn in 2032.
- In terms of Product Type, Synthetic Butyric Acid is projected to account for the highest projected CAGR of over 17.6%.
- In terms of application, Animal feed accounted for the highest CAGR of 14.5% during the historic period (2017-21).
- US is the dominant country in Butyric Acid Market with an expected absolute dollar growth opportunity of over US$ 260.2 Mn.
| Report Attributes | Details |
| Forecast Period | 2023 – 2033 |
| Value Projection (2031) | US$ 1.6 Billion |
| Growth Rate (2022-2031) | 16.6% CAGR |
| No. of Pages | 170 pages |
| No. of Tables | 36 Tables |
| No. of Figures | 108 Figures |
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Competitive Landscape
Due to the presence of many global as well as domestic players the butyric acid market is a competitive market. Players in the market are constantly developing improved analytical solutions as well as extending their product offerings. The companies in Butyric Acid Market are focused on their alliances and technology collaborations. The Tier 2 Players in the market are targeting to increase their Butyric Acid Market share.
Some of the recent developments of key Butyric Acid providers are as follows:
- In May 2022 Petronas chemical group acquired Perstorp Holding AB, this acquisition will increase innovation and sustainable transformation of the new product for Petronas chemical group.
Similarly, recent developments related to companies in Butyric Acid Market have been tracked by the team at Fact.MR, which are available in the full report.
More Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the Butyric Acid Market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals extensive growth in Butyric Acid Market in terms of Product Type (Synthetic Butyric Acid, Renewable Butyric Acid), Application (Animal Feed, Chemical Intermediates, Food & Flavors, Pharmaceutical, Other Applications) across five regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).
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Tungstic Acid Market: Based on the analysis by Fact.MR, the global tungstic acid market is valued to be US$ 40.5 million in 2023 and it is anticipated to grow at a CAGR of 3.1% to reach US$ 55.0 million by the end of 2033.
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