Carboxylic Acid Market Size & Share 2016 - 2024
Market Size by Product (Acetic, Valeric, Isovaleric, Formic, Propionic, Butyric, Isobutyric, Citric, Caproic, Stearic), by End User (Food & Beverages, Animal Feed, Personal Care & Cosmetics, Lubricants, Consumer Goods), Industry Analysis Report, Regional Outlook, Application Growth Potential, Price Trends, Competitive Market Share & Forecast.
Report ID: GMI1103
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Published Date: December 2016
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Report Format: PDF
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Authors:
Kiran Pulidindi, Akshay Prakash
Carboxylic Acid Market Size
Carboxylic Acid Market size was worth more than USD 13 billion in 2015 and will increase with an estimated gain of 5%.
Global carboxylic acid market size growth is expected to be driven by the rising demand of vinyl acetate monomer or VAM, on the account of increasing demand of vinyl ester resins used to coat the surfaces of materials used to store and package food items and beverages. Vinyl esters, in turn, are produced by reaction of acetic acid with the corresponding vinyl acetate monomer (resin). Increasing demand for packaged food owing to increasing global GDP along with shortage of time in dual income families will have a major impact on the market in the forecast timeframe. Moreover, ethylene-vinyl acetate (EVA) demand is also expected to rise because of its applications in the manufacturing of adhesives used in food packaging. Global VAM market size was over USD 7.4 billion in 2015 and is expected to have a growth by close to 4.5% CAGR from 2016 to 2024.
Increasing demand for cosmetics and personal care products will also catalyze the global carboxylic acid market demand. Extensive usage of stearic, butyric, and valeric acids in the manufacturing of these products will influence the global carboxylic acid market in the forecast period. Rising awareness among the people about cosmetics and beauty products, in addition to increasing disposable income, will propel the market size considerably in the upcoming years. Usage of the acids for esterification to provide the fragrance and for prevention of microbes, tend to have a prevailing effect on the market. More than 80% of these personal care products are for cosmetics, skin care products, fragrances, and hair care products.
Another important carboxylic acid market share booster is anticipated to be the growing use of organic acid in animal feed industry in order to prevent growth of microbes. Carboxylic acid such as formic acid and propionic acid prevent the growth of salmonella that contaminate the food and causes diseases to animals as well as humans. More than 45% of the global animal feed market is dedicated to poultry and more than a quarter is used for swine. The escalating consumption rate of poultry and swine for their health beneficiary protein content is likely to boost the global carboxylic acid market size as animal feed additive. Regulations regarding banning of antibiotic growth promoters in animal feed, especially for poultry, swine, and cattle, will also have a positive effect on the industry.
However, the availability of organic and natural substitutes in the animal feed industry will hinder carboxylic acid market size in the upcoming years, as they have lost share to probiotics, amino acids, nutraceuticals, antimicrobials & antioxidants, and several other newly developed substitutes. Regulations on the production of petroleum based carboxylic acids with long chain hydrocarbons will also restrain the global carboxylic acid market growth in the forecast timeframe.
Carboxylic Acid Market Analysis
Carboxylic acid market size has been segmented into acetic acid, propionic acid, formic acid, valeric acid, isovaleric acid, butyric acid, isobutyric acid, caproic acid, citric acid, stearic acid, and other carboxylic acids. Carboxylic acid market is expected to be dominated by acetic acid which finds great applications in the manufacture of vinegar, used to preserve food over a long time and gives a sour flavor to the food products. Growing demand of AA in food storage and packaging industry will steer the market growth in the next few years. (AA) Acetic acid market recorded over USD 5.5 billion in 2015 and is also expected to have the fastest growth at over 5.5% CAGR from 2016 to 2024.
Another dominating product segment, throughout the forecast timespan, is anticipated to be stearic acid market which finds applications in cosmetics, soaps, detergents, as well as in lubricants and softening agents. It comprises of more than 25% of the global carboxylic acid market share and registered a revenue over USD 3.5 billion in 2015.
Different end-user industries of carboxylic acid market share include consumer goods, animal feed, food & beverages, personal care & cosmetics, pharmaceuticals, lubricants, and others. Consumer goods segment was the principal segment in 2015 registering over 35% of the global market share in terms of revenue. This industry segment is expected to develop at a CAGR over 5.0% throughout the forecast period. Growth will be primarily on the account of rising consumption of plastics in packaging, construction, electronics, and agriculture, boosting the demand of acetic acid and stearic acid.
Asia Pacific, led by India, China, and Japan carboxylic acid market, is anticipated to have the fastest growth at over 5.0% CAGR in the forecast timeframe. It is also the most mature industry owing to the growth in food & beverage and consumer goods industries in the emerging economies of the region. APAC accounted for more than half of the global market share, registering a revenue over USD 6 billion in 2015.
North America and Europe carboxylic acid market share will lose some value to APAC and Latin America due to stringent regulations imposed by EPA and REACH. North America registered a revenue over USD 2 billion, while Europe was worth more than USD 3 billion in 2015. These markets will have sluggish growth in the forecast period.
Carboxylic Acid Market Share
Global carboxylic acid market share is highly fragmented with the top six market players possessing less than 25% of the global market share. Top industry players include:
With continuous expansions, the competitive landscape is very aggressive. For instance, BASF SE invested in a new facility for formic acid production in 2014 to increase capacity.
Research methodology, data sources & validation process
This report draws on a structured research process built around direct industry conversations, proprietary modelling, and rigorous cross-validation and not just desk research.
Our 6-step research process
1. Research design & analyst oversight
At GMI, our research methodology is built on a foundation of human expertise, rigorous validation, and complete transparency. Every insight, trend analysis, and forecast in our reports is developed by experienced analysts who understand the nuances of your market.
Our approach integrates extensive primary research through direct engagement with industry participants and experts, complemented by comprehensive secondary research from verified global sources. We apply quantified impact analysis to deliver dependable forecasts, while maintaining complete traceability from original data sources to final insights.
2. Primary research
Primary research forms the backbone of our methodology, contributing nearly 80% to overall insights. It involves direct engagement with industry participants to ensure accuracy and depth in analysis. Our structured interview program covers regional and global markets, with inputs from C-suite executives, directors, and subject matter experts. These interactions provide strategic, operational, and technical perspectives, enabling well-rounded insights and reliable market forecasts.
3. Data mining & market analysis
Data mining is a key part of our research process, contributing nearly 20% to the overall methodology. It involves analysing market structure, identifying industry trends, and assessing macroeconomic factors through revenue share analysis of major players. Relevant data is collected from both paid and unpaid sources to build a reliable database. This information is then integrated to support primary research and market sizing, with validation from key stakeholders such as distributors, manufacturers, and associations.
4. Market sizing
Our market sizing is built on a bottom-up approach, starting with company revenue data gathered directly through primary interviews, alongside production volume figures from manufacturers and installation or deployment statistics. These inputs are then pieced together across regional markets to arrive at a global estimate that stays grounded in actual industry activity.
5. Forecast model & key assumptions
Every forecast includes explicit documentation of:
✓ Key growth drivers and their assumed impact
✓ Restraining factors and mitigation scenarios
✓ Regulatory assumptions and policy change risk
✓ Technology adoption curve parameter
✓ Macroeconomic assumptions (GDP growth, inflation, currency)
✓ Competitive dynamics and market entry/exit expectations
6. Validation & quality assurance
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Our triple-layer validation process ensures maximum data reliability:
✓ Statistical Validation
✓ Expert Validation
✓ Market Reality Check
Trust & credibility
Verified data sources
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Industry databases
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Regulatory filings
Government procurement records and policy documents
Academic research
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Company reports
Annual reports, investor presentations, and filings
Expert interviews
C-suite, procurement leads, and technical specialists
GMI archive
13,000+ published studies across 30+ industry verticals
Trade data
Import/export volumes, HS codes, and customs records
Parameters studied & evaluated
Every data point in this report is validated through primary interviews, true bottom-up modelling, and rigorous cross-checks. Read about our research process →