H1 2023: During the first half of 2023, butyric acid prices in the Asia-Pacific area demonstrated mixed trends . Due to the sluggish procurement activity from the downstream cosmetics and animal feedstock industries, the market value fell in the first month of 2023 in Asia. Following the Chinese Lunar Holidays, end-user purchasing intentions increased, market saw an increase in demand for the goods. As a result, the manufacturer set a high price for the product in the market. Due to poor downstream industry buying sentiment in March, the demand for the commodity decreased despite low upstream Butanal cost. Although Asia saw a positive market scenario in April and May 2023. Due to increased inquiries from downstream sectors across the Asian market, the price of butyric acid increased in these months. During this time, businesses replenished their inventories to meet demand. The butyric acid market in Asia experienced a sharp fall in June. Low feedstock Butanal prices helped to keep the product price low. Due to minimal trade activity in June, the pharmaceutical and food processing industries remained hazy, and there was excess of butyric acid in the market to meet demand. On the other hand, in the US, butyric acid market displayed conflicting attitude in H1 2023. Due to a surplus of the product and minimal cost pressure from feedstock in the USA market, butyric acid prices initially fell in January. Due to feedstocks strong cost the price of butyric acid abruptly began to hike as the demand from downstream industries like pharmaceuticals began to increase in February. Prices dropped in March then increase in the period of April – June 2023.
The global Butyric Acid market stood at approximately 220 thousand tonnes in 2022 and is anticipated to grow at a CAGR of 4.10% during the forecast period until 2032.
Butyric acid, commonly known as butanoic acid, is an organic, greasy, colourless liquid with an unpleasant smell. It is a typical carboxylic acid and is widely employed as a chemical intermediate used to produce esters, amides, anhydrides, and chloride derivatives. Industrially it is produced when propene and syngas are combined to create butyraldehyde, which is then further oxidised to produce butyric acid. Pharmaceutical industry uses butyric acid to make drugs that aid in the treatment of cancer, IBS, and irritable bowel syndrome (IBS). The food and beverage industry uses butyric acid as a preservative and flavorings. Butyric acid is used to flavor a variety of dishes, including baked goods, dairy products, and confections. Butyric acid is additionally used to enhance the softness and texture of meat after processing. It can also benefit the market by enhancing the flavor of processed meats like sausage and gammon. To promote the growth and proper health of animals, butyric acid is used in commercial products such premixes that are put directly to the water. Butyric acid not only fosters growth but also supplies energy for metabolism and has antimicrobial properties.
Animal feed is increasingly using butyric acid as a component. The primary feedstock for various butyrate salts and glycerine esters, often known as butyrins, is butyric acid. To direct the active component to the target organs in the animal's colon, salts are added to feed premixes as fat-coated or non-coated administrative forms. Butyric acid is being used in animal feed across a number as a result of the rising occurrence of animal diseases which is the driving factor for market expansion. The enormous global growth of the pharmaceutical industry is one of the key factors contributing to the market's upbeat outlook. Butyric acid has an increasing market potential as a natural preservative and flavouring ingredient due to the rising demand meat products. The global Butyric Acid market is anticipated to increase favorably as a result of these reasons and reach 520 thousand tonnes by 2032.
Based on region, Asia Pacific is the most prominent consumer of Butyric Acid market. Due to Asia’s food processing and chemical sectors, the Asia-Pacific region is predicted to dominate the worldwide market. The cattle sector in China has grown quickly recently in the past years as people's diets change to include more animal-based proteins. China is currently the one of the largest producers of animal feed and the greatest producer of livestock goods worldwide. The demand for animal feed, which is mostly consumed by livestock and poultry to maintain their health, is the main driver of market growth in this region. The demand for animal feed in the area has increased as a result of an increased focus on animal health. The escalating concern over sustaining animal health as a result of animal farming's rapid expansion and rising product demand. In the next few years, market expansion in this region is predicted to be fueled by technological improvement, research into new products for the agricultural industry, and an increase in demand for animal feed.
Based on the end-user industry, the global Butyric Acid market is segmented into Animal Feed, Chemical Intermediates, Food & Flavors, Pharmaceuticals, and Others. However, Flavor & Fragrances is the leading segment and held about 38% of the global Butyric Acid market in 2022. In 2022, the Animal Feed segment held a significant market share, which was primarily driven by an increase in the use of the product due to its numerous advantageous properties. The food and beverage segment also holds vital position as a consumer and is likely to stay so a result of the sharp rise in food product consumption and modifications in consumer eating patterns. The food industry uses butyric acid to impart butter-like notes to food flavours and its esters are frequently utilised as additives to boost fruit smell.
Major players in the Global Butyric Acid market are Beijing Huamaoyuan Fragrance Flavor Co., Ltd., Eastman Chemical Company, Merck KGaA, Metex Noovista, OQ Chemicals GmbH, Perstorp Holding AB, Shanghai Kayi Chemical Co., Ltd., SNOWCO, Tokyo Chemical Industry Co., Ltd, and others.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2032
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Objective of the Study:
• To assess the demand-supply scenario of Butyric Acid which covers production, demand and supply of Butyric Acid market in the globe.
• To analyse and forecast the market size of Butyric Acid
• To classify and forecast Global Butyric Acid market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Butyric Acid market in the globe.
To extract data for Global Butyric Acid market, primary research surveys were conducted with Butyric Acid manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Butyric Acid market over the coming years.
ChemAnalyst calculated Butyric Acid demand in the globe by analyzing the historical data and demand forecast which was carried out considering the production of raw material to produce Butyric Acid. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Butyric Acid manufacturers and other stakeholders
• Organizations, forums and alliances related to Butyric Acid distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Butyric Acid manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Butyric Acid market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
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Details
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Market size Volume in 2022
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217 thousand tonnes
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Market size Volume in 2032
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520 thousand tonnes
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Growth Rate
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CAGR of 9.10% from 2023 to 2032
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Base year for estimation
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2023
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Historic Data
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2015 – 2022
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Forecast period
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2024 – 2032
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Quantitative units
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Demand in thousand tonnes and CAGR from 2023 to 2032
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Report coverage
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Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Foreign Trade, Manufacturing Process.
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Segments covered
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By End-Use: (Animal Feed, Chemical Intermediates, Food & Flavors, Pharmaceuticals, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
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Regional scope
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North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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Pricing and purchase options
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Available Customizations:
With the given market data, ChemAnalyst offers customizations according to a company’s specific needs.
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