Isobutyric Acid Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Isobutyric Acid Market
The isobutyric acid market size was valued at USD 169.7 million in 2022, and the market is now projected to grow from USD 184.2 million in 2023 to USD 314.8 million by 2030, exhibiting a CAGR of 8.0% during the forecast period of 2023-2030.
The production of isobutyric acid market growth was greatly affected by COVID-19 through a break in the supply chain cycle hence the scarcity of raw materials which compelled producers to close operations. To some extent, there were social limitations of movements including lockdowns which worsened the situation. For this reason, as COVID-19 was controlled in the spread in 2021, production was initiated and by February 2022 almost all the firms had regained their market production.
The use of isobutyric acid to enhance the flavour of animal feed and the rise in animal growth rates are driving forces for the isobutyric acid market share. Also, the growing dairy industry and limited grazing land contribute to increased animal feed demand. In food and flavours, isobutyric acid's aroma-enhancing properties drive its use in processed foods such as butter and cheese. This growing demand is anticipated to boost the market even further.
Also, manufacturers are interested in bio-based isobutyric acid production because the availability of petroleum-based raw materials and carbon emissions is considered environmentally unsustainable. This results from the international integrity subjecting itself to environmentalism and legislation. New avenues of opportunity have thus been generated by enhanced emphasis towards carrying out research and developmental activities specifically to embrace environmentally sustainable manufacturing. The adaptation of this approach is attributed to a rising global concern that new legislation protects the environment.
Comprehensive Analysis of Isobutyric Acid Market
The isobutyric acid market and the chemicals & advanced materials industry are growing exponentially because of its segmentation. This market expansion thus offers specific area reviews accounting for the key supply and demand influences for the chemicals & advanced materials sector. These segmentations are methodically segregated by types and by applications. The type includes, Synthetic and Renewable. The application includes, Pharmaceuticals & Cosmetics, Animal Feed, Chemical, Food & Flavors and Others.
North America held the biggest isobutyric acid market proportion in revenue within 2022, because of higher demand for the product from the most important end-user industries. Higher product prices inside the place are one of the main reasons behind the predominant market share in revenue. Along with the better call for merchandise from pharmaceuticals and cosmetics, the ever-growing demand for animal feed and meals and flavours is expected to power market growth inside the vicinity.
The leading market players can significantly contribute to the chemicals & advanced materials market’s industrial prospects while regulating specific market sections. These players include, Eastman Chemical Company (U.S.), OQ Chemicals GmbH (Germany), Tokyo Chemical Industry Co., Ltd. (Japan), AFYREN (France), Shanghai Aladdin Biochemical Technology Co., Ltd. (China), Evonik Industries AG (Germany), Snowco (China), Nanjing Chemical Material Corp. (China), CAMEO Chemicals and Yufeng International Group Co., Ltd. (China). These market players provide a level-playing competitive landscape.
In January 2023, OQ Chemicals declared it was willing to enhance its manufacturing capability of carboxylic acids. The company also invested in restructuring its global network of multi-purpose production plants to increase capacity, efficiency and manufacturing power.
Segmentation Table
Global Isobutyric Acid Market Scope
Study Period 2017-2030
Base Year 2022
Forecast Period 2023-2030
Growth Rate CAGR of 8.0% from 2023-2030
Historical Period 2017-2021
Unit Value (USD Million), Volume (Kiloton)
Segmentation By Material, Product Type, Application, and Region
By Type Synthetic
Renewable
By Application Pharmaceuticals & Cosmetics
Animal Feed
Chemical
Food & Flavors
Others
By Geography North America (By Type, Application, and Country)
U.S.
Canada
Europe (By Type, Application, and Country)
Germany
U.K.
France
Italy
Rest of Europe
Asia Pacific (By Type, Application, and Country)
China
India
Japan
South Korea
Rest of Asia Pacific
Latin America (By Type, Application, and Country)
Brazil
Mexico
Rest of Latin America
Middle East and Africa (By Type, Application, and Country)
GCC
South Africa
Rest of the Middle East & Africa
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- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 4. Key Insights
- 4.1. Key Market Trends
- 4.2. Key Developments: Capacity Expansions, Acquisitions, Partnerships, etc.
- 4.3. Latest Technological Advancement
- 4.4. Insights on Regulatory Scenario
- 4.5. Porter’s Five Forces Analysis
- 5. Covid-19 Impact Analysis
- 5.1. Supply Chain Challenges
- 5.2. Steps taken by companies to overcome the impact
- 5.3. Potential Opportunities Due to COVID-19 Outbreak
- 6. Global Isobutyric Acid Market Analysis, Insights and Forecast, 2017–2030
- 6.1. Key Findings / Summary
- 6.2. By Type
- 6.2.1. Synthetic
- 6.2.2. Renewable
- 6.3. By Application (Value & Volume)
- 6.3.1. Pharmaceuticals & Cosmetics
- 6.3.2. Animal Feed
- 6.3.3. Chemical
- 6.3.4. Food & Flavours
- 6.3.5. Others
- 6.4. By Region (Value & Volume)
- 6.4.1. North America
- 6.4.2. Europe
- 6.4.3. Asia Pacific
- 6.4.4. Latin America
- 6.4.5. Middle East & Africa
- 7. North America Isobutyric Acid Market Analysis, Insights and Forecast, 2017–2030
- 7.1. Key Findings / Summary
- 7.2. By Type
- 7.2.1. Synthetic
- 7.2.2. Renewable
- 7.3. By Application (Value & Volume)
- 7.3.1. Pharmaceuticals & Cosmetics
- 7.3.2. Animal Feed
- 7.3.3. Chemical
- 7.3.4. Food & Flavours
- 7.3.5. Others
- 7.4. By Country (Value & Volume)
- 7.4.1. U.S.
- 7.4.2. Canada
- 8. Europe Isobutyric Acid Market Analysis, Insights and Forecast, 2017–2030
- 8.1. Key Findings / Summary
- 8.2. By Type
- 8.2.1. Synthetic
- 8.2.2. Renewable
- 8.3. By Application (Vale & Volume)
- 8.3.1. Pharmaceuticals & Cosmetics
- 8.3.2. Animal Feed
- 8.3.3. Chemical
- 8.3.4. Food & Flavours
- 8.3.5. Others
- 8.4. By Country (Value & Volume)
- 8.4.1. Germany
- 8.4.2. U.K.
- 8.4.3. France
- 8.4.4. Italy
- 8.4.5. Rest of Europe
- 9. Asia Pacific Isobutyric Acid Market Analysis, Insights and Forecast, 2017–2030
- 9.1. Key Findings / Summary
- 9.2. By Type
- 9.2.1. Synthetic
- 9.2.2. Renewable
- 9.3. By Application (Value & Volume)
- 9.3.1. Pharmaceuticals & Cosmetics
- 9.3.2. Animal Feed
- 9.3.3. Chemical
- 9.3.4. Food & Flavours
- 9.3.5. Others
- 9.4. By Country (Value & Volume)
- 9.4.1. China
- 9.4.2. India
- 9.4.3. Japan
- 9.4.4. South Korea
- 9.4.5. Rest of Asia Pacific
- 10. Latin America Isobutyric Acid Market Analysis, Insights and Forecast, 2017-2030
- 10.1. Key Findings / Summary
- 10.2. By Type
- 10.2.1. Synthetic
- 10.2.2. Renewable
- 10.3. By Application (Value & Volume)
- 10.3.1. Pharmaceuticals & Cosmetics
- 10.3.2. Animal Feed
- 10.3.3. Chemical
- 10.3.4. Food & Flavours
- 10.3.5. Others
- 10.4. By Country (Value & Volume)
- 10.4.1. Brazil
- 10.4.2. Mexico
- 10.4.3. Rest of Latin America
- 11. Middle East & Africa Isobutyric Acid Market Analysis, Insights and Forecast, 2017-2030
- 11.1. Key Findings / Summary
- 11.2. By Type
- 11.2.1. Synthetic
- 11.2.2. Renewable
- 11.3. By Application (Value & Volume)
- 11.3.1. Pharmaceuticals & Cosmetics
- 11.3.2. Animal Feed
- 11.3.3. Chemical
- 11.3.4. Food & Flavours
- 11.3.5. Others
- 11.4. By Country (Value & Volume)
- 11.4.1. GCC
- 11.4.2. South Africa
- 11.4.3. Rest of Middle East & Africa
- 12. Competitive Landscape (Overview, Products & Services, Recent Developments, Strategies, Financials (based on availability))
- 12.1. Market Share/Ranking Analysis, By Key Companies
- 12.2. Company Profiles
- 12.2.1. Eastman Chemical Company
- 12.2.1.1. Overview
- 12.2.1.2. Description
- 12.2.1.3. Product Portfolio
- 12.2.1.4. Financials (Data as available in public domain and/or on paid databases)
- 12.2.1.5. Recent Developments
- 12.2.2. OQ Chemicals GmbH
- 12.2.2.1. Overview
- 12.2.2.2. Description
- 12.2.2.3. Product Portfolio
- 12.2.2.4. Financials (Data as available in public domain and/or on paid databases)
- 12.2.2.5. Recent Developments
- 12.2.3. Tokyo Chemical Industry Co., Ltd.
- 12.2.3.1. Overview
- 12.2.3.2. Description
- 12.2.3.3. Product Portfolio
- 12.2.3.4. Financials (Data as available in public domain and/or on paid databases)
- 12.2.3.5. Recent Developments
- 12.2.4. AFYREN
- 12.2.4.1. Overview
- 12.2.4.2. Description
- 12.2.4.3. Product Portfolio
- 12.2.4.4. Financials (Data as available in public domain and/or on paid databases)
- 12.2.4.5. Recent Developments
- 12.2.5. Shanghai Aladdin Biochemical Technology Co., Ltd.
- 12.2.5.1. Overview
- 12.2.5.2. Description
- 12.2.5.3. Product Portfolio
- 12.2.5.4. Financials (Data as available in public domain and/or on paid databases)
- 12.2.5.5. Recent Developments
- 12.2.6. Evonik Industries AG
- 12.2.6.1. Overview
- 12.2.6.2. Description
- 12.2.6.3. Product Portfolio
- 12.2.6.4. Financials (Data as available in public domain and/or on paid databases)
- 12.2.6.5. Recent Developments
- 12.2.7. Snowco
- 12.2.7.1. Overview
- 12.2.7.2. Description
- 12.2.7.3. Product Portfolio
- 12.2.7.4. Financials (Data as available in public domain and/or on paid databases)
- 12.2.7.5. Recent Developments
- 12.2.8. Nanjing Chemical Material Corp.
- 12.2.8.1. Overview
- 12.2.8.2. Description
- 12.2.8.3. Product Portfolio
- 12.2.8.4. Financials (Data as available in public domain and/or on paid databases)
- 12.2.8.5. Recent Developments
- 12.2.9. CAMEO Chemicals
- 12.2.9.1. Overview
- 12.2.9.2. Description
- 12.2.9.3. Product Portfolio
- 12.2.9.4. Financials (Data as available in public domain and/or on paid databases)
- 12.2.9.5. Recent Developments
- 12.2.10. Yufeng International Group Co., Ltd.
- 12.2.10.1. Overview
- 12.2.10.2. Description
- 12.2.10.3. Product Portfolio
- 12.2.10.4. Financials (Data as available in public domain and/or on paid databases)
- 12.2.10.5. Recent Developments
- 13. Strategic Recommendations
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