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- 150 Market data Tables
- 44 Figures
- 180 Pages and in-depth TOC on “Isobutyric Acid Market – Global Forecast to 2028”
This report also provides a comprehensive analysis of the companies listed below:
Major players operating in the isobutyric acid 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 companies have wide-spread manufacturing facilities with an established portfolio of isobutyric acid, global market presence, and a strong focus on strategic developments.
Merger & acquisitions, investments & expansions, partnerships & collaborations, and new product developments are some of the major strategies adopted by these key players to enhance their positions in the isobutyric acid market.
Recent Developments in Isobutyric Acid Market
- In January 2023, OQ Chemicals expanded its manufacturing capacity for carboxylic acids. The company invested in a debottlenecking and optimization project for precursors at its facilities in Germany.
- In January 2023, Afyren and Mitr Phol, a manufacturer of cane sugar and its derivatives, signed a Letter Agreement to establish a biorefinery in Thailand. As per the agreement, the second bio-based organic acid production facility for the Afyren Group would be built. It is consistent with Afyren’s build and operate development strategy, which aims at reaching markets where it sources its raw materials and its customers, with a focus on Asia and North America.
- In April 2021, Eastman Chemical Company acquired 3F Feed & Food, a European pioneer in the technological and commercial advancement of additives for animal feed and human food. Spain-based 3F’s operations and assets joined Eastman’s additives & functional products segment and enabled it to improve and assist the animal nutrition company’s ongoing global expansion.
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Based on type, the synthetic isobutyric acid segment is projected to grow at a faster rate during the forecast period of 2023 to 2028, in terms of value. Synthetic isobutyric acid is derived from petroleum feedstocks. The growth of this segment can be attributed to the easy availability of raw materials and low cost of production.
Based on end-use, the pharmaceutical segment is anticipated to grow at a significantly higher rate during the forecast period of 2023 to 2028, in terms of value. Isobutyric acid can be utilized as a building block for the synthesis of different pharma intermediates. It is generally applicable as a raw material in the manufacturing of active pharmaceutical ingredients (APIs) or precursor compounds. This is further expected to boost the demand of this segment.
Based on region, Asia Pacific is projected to be the fastest-growing market for isobutyric acid during 2023 to 2028, in terms of value. China is one of the largest markets in the region, aided with large production of isobutyric acid carried out in the country. It also exports isobutyric acid to other countries as per the demand for different end-uses including pharmaceuticals or chemical intermediates. This will further drive the Asia Pacific market during the forecast period.
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