Global Carboxylates Market, By Product (Acetic, Valeric, Isovaleric, Formic, Propionic, Butyric, Isobutyric, Citric, Caproic, Stearic), End-User (Food and Beverages, Animal Feed, Personal Care and Cosmetics, Lubricants, Consumer Goods) – Industry Trends and Forecast to 2029
Market Analysis and Size
Over the last few years, there has been immense growth in the chemical industry. Additionally, there the increased demand for the growing demand of vinyl acetate monomer (VAM) have significantly contributed to the carboxylates market, which further increases the overall growth for the market.
Global Carboxylates Market was valued at USD 12100.00 million in 2021 and is expected to reach USD 18996.37 million by 2029, registering a CAGR of 5.80% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Product (Acetic, Valeric, Isovaleric, Formic, Propionic, Butyric, Isobutyric, Citric, Caproic, Stearic), End-User (Food and Beverages, Animal Feed, Personal Care and Cosmetics, Lubricants, Consumer Goods)
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa
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Market Players Covered
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Alcoa Corporation (U.S.), Thirumalai Chemicals Ltd. (India), Rio Tinto (Australia), RUSAL (Russia), Norsk Hydro A.S.A. (Norway), Emirates Global Aluminium PJSC (U.A.E), Aluminum Bahrain B.S.C. (Bahrain), Century Aluminum Company (U.S.),Vedanta Ltd. (India),China Aluminum Corporation (China), Merck KGaA (Germany), REDOX INDUSTRIES LIMITED (India), China Hongqiao (China), H.P. (Australia), East Hope Group (China), ACURO ORGANICS LIMITED (India) and Emirates Global Aluminum (U.A.E)
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Market Opportunities
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Market Definition
Carboxylate is the conjugate base of a carboxylic acid, RCOO?. It is an ion with negative charge in organic chemistry. The carboxylates are largely used across various end use industries such as food and beverages, animal feed, personal care and cosmetics, lubricants and consumer goods.
Carboxylates Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
- High Demand Across Food and Beverages Sector
The utilization of the carboxylic acid in the food and beverage sector has been steadily increasing, particularly in industrialized and developing nations such the United States, the United Kingdom, China, Russia, Brazil, South Africa, India, and Japan. The growth in government measures in emerging nations like India to promote foreign investment in the food and beverage sector and the rise in processed foods consumption can be attributed to the industry's expansion.
- Surging Requirement Across Animal Feed
During the forecast period, it is anticipated that increased farmer awareness of nutrient enrichment and the presence of a sizable livestock population would drive the global animal feed market. Depending on the animal's type and stage of growth, carboxylates is utilized in the animal feed industry, as it helps to increase animal growth, decrease feed costs, and enhance feed efficiency. As these vital carboxylic acids are frequently lacking in natural feedstuff, acetic acid, propionic acid, and butyric acid are frequently utilized in animal feed. The capacity of carboxylic acid to boost cattle metabolism is expected to drive growth in demand for the product in animal feed over the forecast period.
Furthermore, the market for food additives is growing as a result of increased urbanization, rising consumer disposable income, and a rise in consumer desire for various culinary styles. Throughout the projection period, this is anticipated to boost the food business. Additionally, the growth in trade by air transportation will also drive market value growth. The expansion of the automotive industry and the increase in defense budgets are other market growth determinants projected to bolster the market's growth.
Opportunities
- Development and Investments
Furthermore, the development of technical advancement by the market players further enhance the applications of product, extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Additionally, the significant investments in research and development activities will further expand the future growth of the carboxylates market.
Restraints/Challenges
- Availability of Substitutes
The availability of natural and organic substitutes will create hindrances for the growth of the carboxylates market.
- Stringent Regulations
With the stringent regulations associated with product approval and manufacturing, the market is estimated to have lower adoption rate. This factor is projected to challenge the carboxylates market growth rate.
This carboxylates market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the carboxylates market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Carboxylates Market Scope
The carboxylates market is segmented on the basis of product and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product
- Acetic
- Valeric
- Isovaleric
- Formic
- Propionic
- Butyric
- Isobutyric
- Citric
- Caproic
- Stearic
End-User
- Food and Beverages
- Animal Feed
- Personal Care and Cosmetics
- Lubricants
- Consumer Goods
Carboxylates Market Regional Analysis/Insights
The carboxylates market is analyzed and market size insights and trends are provided by country, type, product and end-user as referenced above.
The countries covered in the carboxylates market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period of 2022-2029. The market growth in this region is attributed to the strict regulations imposed by the government within the region.
Asia-Pacific, on the other hand, is estimated to show lucrative growth over the forecast period of 2022-2029, due to the increasing growth of the various industries such as consumer goods, food and beverages and others in the region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Carboxylates Market Share Analysis
The carboxylates market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to carboxylates market.
Some of the major players operating in the carboxylates market are
- Alcoa Corporation (U.S.)
- Thirumalai Chemicals Ltd. (India)
- Rio Tinto (Australia)
- RUSAL (Russia)
- Norsk Hydro A.S.A. (Norway)
- Emirates Global Aluminium PJSC (U.A.E)
- Aluminum Bahrain B.S.C. (Bahrain)
- Century Aluminum Company (U.S.)
- Vedanta Ltd. (India)
- China Aluminum Corporation (China)
- Merck KGaA (Germany)
- REDOX INDUSTRIES LIMITED (India)
- China Hongqiao (China)
- H.P. (Australia)
- East Hope Group (China)
- ACURO ORGANICS LIMITED (India)
- Emirates Global Aluminum (U.A.E.)
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