Butyric Acid Market Size, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI3549
Butyric Acid Market size is rapidly growing in the coming years owing to its increasing application in animal feed, food and pharmaceutical industries across the globe. Butyric acid, also known as butanoic acid is widely found in plant oils and animal fats. These acids can also be prepared by fermentation of starch or sugar through the process of catalytic upgrading.
The presence of major agrarian economies mainly in the Asia Pacific region has resulted in a surge in demand of the product in animal feed applications, which in turn is adding to the growth of the global butyric acid market. Butyric acid is also widely accepted in the food industry owing to its efficient quality control properties of milk, yogurt and other dairy products. Moreover, the growing awareness of the health benefits of butyric acid such as effective digestion and anti-inflammatory properties among other is set to further augment the global market size during the review period. Furthermore, the presence of stringent regulations relating to the use of antibiotics in animal feed especially in Europe and North America coupled with the emergence of niche applications of butyric acid such as in biofuel production is anticipated to open up new opportunities in the butyric acid market by the end of the assessment period. However, prolonged inhalation of butyric acid has toxic effects in the human body leading to coughing, soreness of throat, burning sensation, and abnormal breathing. These adverse effects of butyric acids is anticipated to act as a major restraining factor in the growth of the market during the given period 2019-2025.
In terms of product type, the butyric acid market has been segmented into synthetic and renewable butyric acid. Synthetic butyric acid is produced mainly through chemical synthesis that involves oxidation of butyraldehyde. This method is widely preferred in industrial scale owing to its lower cost. Renewable butyric acid is produced from corn husk and other natural sources. Among the aforementioned segments, synthetic acid segment was the leading segment in 2018 and is anticipated to exhibit the same trend throughout the forecast period. The renewable butyric acid product type is anticipated exhibit significant growth rate throughout the review period. The low cost of production of synthetic butyric acid along with the easy availability of raw material are the major factors for the growth of the segment.
In terms of applications, the butyric acid market has been segmented into animal feed, pharmaceuticals, food, perfumes, chemical intermediate and others. Some of the niche applications of butyric acid include biofuel production and other industrial solvent. Among the segments, animal feed was the leading segment in 2018 and is anticipated to retain its leadership position during the forecast period. The animal feed segment is anticipated to show tremendous growth especially in China and India in the Asia Pacific region. The product is one of the most effective feed for intestinal health, hence making it an essential raw material mainly for swine and poultry. Furthermore, the decision of North American and European economies for prevention of antibiotics in animal feed is anticipated to further fuel the demand for butyric acid in animal feed applications.
Asia Pacific is estimated to grow at a significant CAGR in the butyric acid market mainly due to rising growing demand for the product in pharmaceutical and animal feed applications. The presence of major agricultural dependent countries such as China and India are projected to further augment the market growth throughout the forecast period. Moreover, the presence of major manufacturers of butyric acid in the region shall further aid the demand for the product. Europe and North America are other dominant market mainly due to the presence of major food and pharmaceutical manufacturing companies.
Some of the prominent market players in this butyric acid market include, Perstorp Holding AB, Eastman Chemical Company, OXEA, Blue Marble Biomaterials, Tokyo Chemical Industry, Snowco industrial Co., Ltd and Beijing Huamaoyuan Fragrance Flavor among others.
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