Butyric Acid Market Size, Price, value, Trends & Forecast 2028

Butyric Acid Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Source (Renewable Butyric Acid and Synthetic Butyric Acid) and Application (Printing Inks, Animal Feed, Food Flavors and Food Fragrances, Chemical Intermediates, Pharmaceutical, and Others)

Publication Month : Mar 2022

  • Report Code : TIPRE00015611
  • Category : Chemicals and Materials
  • Status : Published
  • No. of Pages : 159
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The butyric acid market was valued at US$ 183.48 million in 2021 and is projected to reach US$ 484.55 million by 2028; it is expected to grow at a CAGR of 14.9% from 2021 to 2028.

Butyric acid is a colorless liquid with a penetrating and unpleasant odor. The acid has various important applications in chemical, food, and pharmaceutical industries. The butyric acid has many applications in the pharmaceutical industry.

In 2020, Asia Pacific held the largest revenue share of the global market. The growing number of livestock farms in Asia Pacific is increasing the consumption of animal feed and subsequently proliferating the butyric acid market. The growth in livestock farms in the Asia Pacific region can be attributed to the increased demand for quality meat products due the improving per capita income and growing health consciousness among consumers in the Asia Pacific region.

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Butyric Acid Market: Strategic Insights

butyric-acid-market
Market Size Value inUS$ 183.48 million in 2021
Market Size Value byUS$ 484.55 million by 2028
Growth rateCAGR of 14.9% from 2021 to 2028
Forecast Period2021- 2028
Base Year2021
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Impact of COVID-19 Pandemic on Butyric Acid Market

The COVID-19 pandemic has adversely affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. In 2020, various industries had to slow down their operations due to disruptions in value chains caused by the shutdown of national and international boundaries, which restricted the demand for butyric acid. The COVID-19 pandemic caused volatility in the prices of raw material required to produce butyric acid. The worldwide consumption of butyric acid declined due to low demand from various downstream sectors, such as food flavors, food fragrances, and chemical intermediates. The constraint availability of the raw materials and reduced demand from the downstream sectors due to COVID-19 pandemic have negatively impacted the growth of the butyric acid market. 

Global Butyric Acid Market Breakdown –by Region

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Market Insights

Increasing Demand from Animal Feed Sector

Butyric acid is known for its beneficial effects on gut health and development. For decades, it has been in use in the animal feed industry for ensuring improved gut health and animal performance. Further, butyric acid has become a first-choice antibiotic alternative for broiler, layer, turkey, and swine producers with the animal feed industry’s shift to reduce antibiotic usage.

In recent years, the livestock industry in various countries has expanded rapidly with the shift in diet preferences among consumers toward animal proteins. Population growth, income surge, elevating living standards, and urbanization have been the key factors propelling the demand for meat worldwide. The increasing demand for meat products highlights the need for animal feed and feed additives. The growing demand for animal feed products in different regions boosts the demand for butyric acid, thereby bolstering the butyric acid market growth.

Butyric acid is one of the most beneficial short-chain fatty acids that plays  a key role in uplifting digestive health, manages weight and prevents cancer. The strong growth in the pharmaceutical industry in different countries across the globe is leading to an increasing use of butyric acid for various applications. Furthermore, there is an increasing interest in using butyric acid as a precursor for producing biofuels. This is expected to offer lucrative opportunities for the growth of butyric acid market during the forecast period.

Source Insights

Based on source, the global butyric acid market has been segmented into renewable butyric acid and synthetic butyric acid. The synthetic butyric acid segment held a larger share in the global market in 2020. The synthetic butyric acid segment accounts for major share owing to its wide application for producing printing inks, disinfectants, flavors, medicines, perfumes, easters, and food additives among others.

Butyric Acid Market, by Source – 2020 and 2028

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Some of the players operating in the global butyric acid market includes, Eastman Chemical Company; OQ Chemicals GmbH; Tokyo Chemical Industry Co., Ltd.; Perstorp Holding AB; Alfa Aesar; MERCK KGaA; Vigon International, LLC.; Hefei TNJ Chemical Industry Co.,Ltd.; KUNSHAN ODOWELL CO.,LTD; and Yufeng International Co.,Ltd. Players operating in the butyric acid market focus on providing high quality products to fulfil the customer demand. These market players are highly focused towards the development of high quality and innovative services offerings to fulfil the customer’s requirements.

Report Spotlights

  • Progressive industry trends in the butyric acid market to help players develop effective long-term strategies
  • Business growth strategies adopted by developed and developing markets
  • Quantitative analysis of the butyric acid market from 2019 to 2028
  • Estimation of global demand for HR-PIB
  • Porter’s Five Forces analysis to illustrate the efficacy of buyers and suppliers operating in the industry
  • Recent developments to understand the competitive market scenario
  • Market trends and outlook as well as factors driving and restraining the growth of the butyric acid market
  • Assistance in decision-making process by highlighting market strategies that underpin commercial interest, leading to the market growth
  • The size of the butyric acid market size at various nodes
  • Detailed overview and segmentation of the market, as well as the HR-PIB industry dynamics
  • Size of the butyric acid market in various regions with promising growth opportunities

Global Butyric Acid Market

Source

  • Renewable Butyric Acid
  • Synthetic Butyric Acid

Application

  • Printing Inks
  • Animal Feed
  • Food Flavors and Food Fragrances
  • Chemical Intermediates
  • Pharmaceutical
  • Others

Company Profiles

  • Eastman Chemical Company
  • OQ Chemicals GmbH
  • Tokyo Chemical Industry Co., Ltd.
  • Perstorp Holding AB
  • Alfa Aesar
  • MERCK KGaA
  • Vigon International, LLC.
  • Hefei TNJ Chemical Industry Co.,Ltd.
  • KUNSHAN ODOWELL CO.,LTD
  • Yufeng International Co.,Ltd.
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Source and Application

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States

Frequently Asked Questions


Can you list some of the major players operating in the global butyric acid market?

The major players operating in the global butyric acid market are Eastman Chemical Company; OQ Chemicals GmbH; Tokyo Chemical Industry Co., Ltd.; Perstorp Holding AB; Alfa Aesar; MERCK KGaA; Vigon International, LLC.; Hefei TNJ Chemical Industry Co.,Ltd.; KUNSHAN ODOWELL CO.,LTD; and Yufeng International Co.,Ltd.

During the forecast period, which region is anticipated to account for the largest share of the global butyric acid market?

During the forecast period, Asia Pacific is anticipated to account for the largest share in the global butyric acid market. The region houses few of the fastest developing economies of the world such as China and India and that are the major consumer of the butyric acid. Moreover, in the Asia Pacific region, there is a growing number of livestock farms which is increasing the consumption of animal feed and subsequently proliferating the butyric acid market.

On the basis of application, which segment accounted for the largest share in the global butyric acid market?

Based on application, the animal feed segment accounted the largest share of the global butyric acid market. Butyric acid and fatty acids are extensively used in production of poultry and swine feed due to its beneficial properties such as improving digestibility, better colonisation resistance, and improved growth performance among young livestock.

What is the impact of COVID-19 on the butyric acid market?

Due to the COVID-19 pandemic, butyric acid manufacturers witnessed a slight disruption in the supply chain of butyric acid during the first two quarters of 2020. However, the supply chain of butyric acid materials has been restored, and production activities have regained normalcy in late 2020. Later, the market was not significantly negatively impacted by the pandemic. Further, with the growing COVID-19 vaccinations and eased in lockdown restrictions, the global economy is resuming, and subsequently, the butyric acid market is regaining its growth.

Which region is anticipated to grow with the fastest CAGR for the butyric acid market?

Asia Pacific (APAC) is anticipated to grow with the fastest CAGR at rate of 15.3% from 2021 to 2028. The growing number of livestock farms in APAC is propelling animal feed consumption levels, subsequently leading to the proliferation of the butyric acid market.

What is the key driver for the growth of the global butyric acid market?

Growing demand for butyric acid from animal feed sector is one of the major driving factors for the market. Butyric acid is known for its beneficial effects on gut health and development. For decades, it has been in use in the animal feed industry for ensuring improved gut health and animal performance. The use of butyric acid in animal nutrition also helps in improving nutrient absorption.

The List of Companies_ Butyric Acid Market

  1. Eastman Chemical Company
  2. OQ Chemicals GmbH
  3. Tokyo Chemical Industry Co., Ltd.
  4. Perstorp Holding AB
  5. Alfa Aesar
  6. MERCK KGaA
  7. Vigon International, LLC.
  8. Hefei TNJ Chemical Industry Co.,Ltd.
  9. KUNSHAN ODOWELL CO.,LTD
  10. Yufeng International Co.,Ltd

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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