Animal Feed Segment to Dominate MEA Butyric Acid Market during 2020–2028
According to The Insight Partners market research study on “MEA Butyric Acid Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Source and Application” is expected to reach US$ 21.31 million by 2028 from 8.52 US$ million in 2021. The market is estimated to grow at a CAGR of 14.0% from 2021 to 2028. The report provides trends prevailing in the MEA butyric acid market along with the drivers and restraints pertaining to the market growth. Rising demand for specialty is the major factor driving the growth of the MEA butyric acid market. However, issues associated with fluctuating prices of raw materials and health hazards related to handling of butyric acid hinders the growth of MEA butyric acid market.
The MEA butyric acid market is analyzed on three fronts: Source, application, and country. Based on source, the market has been segmented into renewable butyric acid and synthetic butyric acid. The renewable butyric acid segment held the largest market share in 2020. Based on application, the market is segmented into printing inks, animal feed, food flavors and fragrances, chemical intermediates, pharmaceuticals, and others. The animal feed segment held the largest market share in 2020. Based on country, the MEA butyric acid market is segmented into Saudi Arabia, South Africa, UAE, and the Rest of MEA.
Alfa Aesar; Eastman Chemical Company; Hefei TNJ Chemical Industry Co., Ltd.; Kunshan Odwell Co., Ltd.; MERCK KGaA; OQ Chemicals GmbH; Perstorp Holding AB; Tokyo Chemical Industry Co., Ltd.; and Yufeng International Co., Ltd. are among the leading companies in the MEA butyric acid market.
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