Global Isobutyric Acid Market Size To Worth USD 356.5 Million By 2033 | CAGR of 7.05%
Category: Chemicals & MaterialsGlobal Isobutyric Acid Market Size To Worth USD 356.5 Million By 2033
According to a research report published by Spherical Insights & Consulting, The Global Isobutyric Acid Market Size is Expected to Grow from USD 180.5 Million in 2023 to USD 356.5 Million by 2033, at a CAGR of 7.05% during the forecast period 2023-2033.
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Browse key industry insights spread across 228 pages with 126 Market data tables and figures & charts from the report on the "Global Isobutyric Acid Market Size, Share, and COVID-19 Impact Analysis, By Type (Synthetic Isobutyric acid and Renewable Isobutyric Acid), By End Use (Animal Feed, Chemical Intermediates, Food & Flavors, Pharmaceuticals, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033. " Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/isobutyric-acid-market
The isobutyric acid market refers to the commercial exchange of isobutyric acid, which is a short-chain fatty acid with a distinct odor, used in food & flavoring, pharmaceuticals, animal feed, chemicals, and agriculture industries. Isobutyric acid is appropriate for inclusion in polymer manufacturing processes due to its distinct chemical structure and characteristics. It is a potential bio-based substitute for compounds derived from petroleum since it may be made from renewable feedstocks. Incentives, research and development, and renewable energy programs promote the discovery and production of bio-based molecules like isobutyric acid, creating a market opportunity for isobutyric acid. The versatile application of isobutyric acid across diverse sectors such as pharmaceuticals and agricultural chemicals sectors is driving the isobutyric acid market. However, the increasing environmental concerns and strict regulations on the production and disposal of chemical compounds are challenging the market growth.
The synthetic isobutyric acid segment held the largest revenue share of 79.5% in 2023 and is expected to grow at a significant CAGR during the forecast period.
Based on the type, the global isobutyric acid market is divided into synthetic isobutyric acid and renewable isobutyric acid. Among these, the synthetic isobutyric acid segment held the largest revenue share of 79.5% in 2023 and is expected to grow at a significant CAGR during the forecast period. Synthetic production of isobutyric acid enables large-scale manufacturing, ensuring industrial requirements for isobutyric acid are met efficiently. The high purity, consistent quality, and reliable supply of synthetic isobutyric acid are driving the market in the synthetic segment.
The pharmaceuticals segment accounted for the largest revenue share of over 37.4% in 2023 and is expected to grow at a significant CAGR during the forecast period.
Based on the end use, the global isobutyric acid market is divided into animal feed, chemical intermediates, food & flavors, pharmaceuticals, and others. Among these, the pharmaceuticals segment accounted for the largest revenue share of over 37.4% in 2023 and is expected to grow at a significant CAGR during the forecast period. Because of its unique chemical characteristics, isobutyric acid is utilized to manufacture medications that treat a variety of medical conditions.
North America is projected to hold the largest share of the global isobutyric acid market over the forecast period.
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North America is projected to hold the largest share of the global isobutyric acid market over the forecast period. The ever-increasing need for animal feed and flavors is expected to propel the market for isobutyric acid. The robust growth in the pharmaceutical, food, and chemical industries, along with the region’s well-established industrial infrastructure, is responsible for driving the isobutyric acid market.
Asia Pacific is predicted to grow at the fastest CAGR in the isobutyric acid market over the forecast period. The growing middle class and consumers' increased disposable incomes are expected to increase demand for premium food and personal hygiene goods is driving the market. The key users of isobutyric acid such as chemical and pharmaceutical sectors are contributing to drive the isobutyric acid market.
Major key players in the isobutyric acid market include OQ Chemicals GmbH, Eastman Chemical Company, Tokyo Chemical Industry (India) Pvt. Ltd., Snowco, Evonik, AFYREN, Nanjing Chemical Material Corp., Yufeng International Group Co., Ltd., Jiangsu Dynamic Chemical Co., Ltd., Glentham Life Sciences Limited, Central Drug House, Shanghai Aladdin Biochemical Technology Co., Ltd., and Others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Recent Developments
- In January 2023, AFYREN, a greentech company that offers manufacturers bio-based, low-carbon ingredients produced using unique fermentation technology based on a completely circular model, and Mitr Phol, a Thai company that is a leading producer of cane sugar and its derivatives, announced the signature of a Letter Agreement to establish a biorefinery in Thailand.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global isobutyric acid market based on the below-mentioned segments:
Global Isobutyric Acid Market, By Type
- Synthetic Isobutyric acid
- Renewable Isobutyric Acid
Global Isobutyric Acid Market, By End Use
- Animal Feed
- Chemical Intermediates
- Food & Flavors
- Pharmaceuticals
- Others
Global Isobutyric Acid Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
About the Spherical Insights & Consulting
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Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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