Butyric Acid Market Sentiments are Improving in Asia
- 21-Jun-2022 8:36 AM
- Journalist: Francis Stokes
Singapore: The Butyric Acid's major exporter-Singapore is witnessing bullish export demand from the other Asian countries this month. The rising consumption of meat in China on the back of uncertainties associated with coronavirus coupled with higher utilization of dairy products in the region is the primary driving factor promoting market growth of Butyric Acid in the Asia-Pacific.
According to a report, Singapore's petrochemical exports have risen more than 2 percent over the past two months and inclined approximately 6 percent compared to the previous year. However, the upstream Natural Gas Price has been sliding since the last week, which has relaxed input cost pressure for the downstream Butyric Acid players.
As per our market sources, Butyric acid traders were heard focusing more on aquaculture to fulfill the robust demand from increased fish consumption. Butyric acid manufacturers were also adopting various organic and inorganic growth strategies to maximize their factory potential across world regions.
On the other hand, India is showcasing contrary market sentiments for Butyric Acid. Till date, as per the ChemAnalyst Database, the price discussions for Butyric Acid showcased a huge decrement of 3 per cent on a CFR basis.
The growing popularity of veganism and enhanced preference for plant-based foods are the restraining factors weighing on the demand for butyric acid derivatives. Also, the general consumption of meat and poultry has been observed to decline in the summer seasons.
As per ChemAnalyst experts, "the market dynamics of Butyric Acid are estimated to be expanding rapidly in the Asia-Pacific region. Additionally, the upstream Natural Gas is expected to stay down in the forecasted period. Meanwhile, India's Butyric Acid price trend might stabilize in the coming weeks post the summer season. However, the healthy consumption of dairy products in India will likely support the Butyric Acid traders in maintaining their marginal profits.