Carboxylic Acid
Carboxylic Acid Market by Product (Acetic Acid, Butyric Acid, Caproic Acid), Production Technology (Renewable Fermentation Process, Synthetic Process), Applicatiion - Global Forecast 2024-2030
360iResearch Analyst
SPEAK TO ANALYST? OR FACE-TO-FACE MEETING?
Want to know more about the carboxylic acid market or any specific requirement? Ketan helps you find what you're looking for.
DOWNLOAD A FREE PDF
This free PDF includes market data points, ranging from trend analysis to market estimates & forecasts. See for yourself.

[194 Pages Report] The Carboxylic Acid Market size was estimated at USD 17.56 billion in 2023 and expected to reach USD 18.64 billion in 2024, at a CAGR 6.33% to reach USD 26.99 billion by 2030.

Carboxylic Acid Market
To learn more about this report, request a free PDF copy

Carboxylic acid, an essential component in the field of organic chemistry, is a type of organic compound characterized by the presence of a carboxyl group (COOH). The general molecular formula for carboxylic acids is R-COOH, where R represents an alkyl or aryl group. Carboxylic acids play a crucial role in various biological processes and industrial applications, and it is derived from a variety of sources, such as alcohols and aldehydes. The demand for animal feed has led to a surge in the need for carboxylic acids as essential ingredients in feed formulations. Moreover, there has been a notable rise in the utilization of carboxylic acid in the food & beverage sector, owing to its properties as a food preservative, flavoring agent, and pH regulator. Additionally, the continuous expansion of the pharmaceutical sector worldwide offers promising prospects for applying carboxylic acids in drug synthesis and formulation. Fluctuating costs and raw materials used in carboxylic acid production impact its affordability and availability in various industries. The storage and transportation of carboxylic acids represent significant challenges due to their corrosive nature and sensitivity to environmental conditions. However, the development of renewable fermentation of carboxylic acid from biomass sources, which can lead to sustainable and cost-effective production methods and utilizing CO2 for synthesizing carboxylic acids, presents an innovative approach that could contribute to reducing carbon emissions while generating valuable chemical compounds.

Regional Insights

In the Americas region, the United States majorly contributes to the market growth with strong demand for high-performance polymers used in aerospace and automotive industries. The public and private sector in the Americas region is investing in developing renewable approaches to produce carboxylic acids from biomass feedstocks. European countries, including Germany, France, and Italy, contribute significantly to the demand for carboxylic acids due to their robust automotive, pharmaceutical, and consumer goods industries. The Middle East and Africa's market growth is influenced by the expanding oil & gas sector utilizing petrochemical derivatives containing carboxylic acids. The APAC region has witnessed significant market growth due to rapid urbanization and industrialization, leading to an increased demand for carboxylic acid products. In the APAC region, China and Japan have the presence of notable market players due to their massive manufacturing capabilities and growing application industries such as textiles, pharmaceuticals, automotive, and personal care products.

Market Dynamics

The market dynamics represent an ever-changing landscape of the Carboxylic Acid Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

  • Market Drivers
    • Growing production of adhesives and polymers worldwide
    • Increasing usage of carboxylic acid in the food & beverage and pharmaceutical sector
  • Market Restraints
    • Environmental impact associated with the use of carboxylic acid
  • Market Opportunities
    • Ongoing research to improve renewable fermentation of carboxylic acid from biomass
    • Rising strategic investments in carboxylic acid production and expansion
  • Market Challenges
    • Problems associated with storage and transportation of carboxylic acids
Market Segmentation Analysis
  • Product: Significant preferences for acetic and isobutyric acid depending on chemical properties

    Acetic acid is an essential carboxylic acid widely utilized in the manufacturing of vinyl acetate monomer, acetic anhydride, and ester solvents for utilization in food & beverages, pharmaceuticals, and textiles industries. Butyric acid has antimicrobial properties and potential health benefits and finds applications in various industries, such as food flavoring, pharmaceuticals, and animal feed additives. Production of esters for the flavors and fragrances industry utilizes caproic acid in the manufacturing processes. Citric acid is a weak organic acid occurring naturally in citrus fruits and has a wide scope of applications, such as food & beverage manufacturing, pharmaceuticals, and personal care products, as a preservative, flavor enhancer, and acidity regulator. Formic acid is extensively used as a preservative and antibacterial agent in various industries such as agriculture, leather tanning, and textile printing. The increasing demand for isobutyric acid is attributed to its use as an intermediate chemical for the production of esters used in the flavors and fragrances industry. The demand for isovaleric acid has been increasing due to its applications in food flavoring and pharmaceuticals. The need for propionic acid has grown significantly due to its antimicrobial properties and use as an intermediate chemical for the production of various derivatives used in food preservatives, animal feed additives, and pharmaceuticals.

  • Production Technology: Significance of renewable fermentation process over synthetic production process

    Renewable fermentation is a sustainable method of producing carboxylic acids by utilizing microorganisms and renewable feedstocks such as biomass or waste materials. The renewable fermentation method offers several advantages over conventional processes, including reduced environmental impact and lower raw material costs. The synthetic process involves creating carboxylic acids through chemical reactions using petrochemical-derived raw materials as starting points. Synthetic methods are well-established in the market due to the nature of production techniques and higher production capacities.

  • Application: Emerging utilization of the carboxylic acid in the pharmaceuticals and lubricants

    Carboxylic acids, particularly short-chain fatty acids such as formic and propionic acids, are used as preservatives and pH regulators in animal feed formulations. Citric acid is widely used in formulating consumer goods such as detergents, cleaning agents, plasticizers, adhesives, and other household products due to its chelating properties and biodegradability. The food industry uses carboxylic acids such as acetic acid, lactic acid, malic acid, and tartaric acid for flavor enhancement, preservation, acidity regulation, texturization, or microbial control purposes. Carboxylic acids and their derivatives serve as critical building blocks for producing synthetic lubricants, corrosion inhibitors, or metalworking fluids. Carboxylic acids such as caprylic, glycolic, and salicylic acids play vital roles in skin care products as exfoliants, emollients, or antimicrobial agents. Adipic acid, sebacic acid, and terephthalic are essential constituents in the textile, leather, and rubber industries for use in nylon production and plasticizer manufacturing. Carboxylic acids exhibit diverse biological activities such as analgesic, antiviral, anti-inflammatory, or anticancer properties in the pharmaceutical industry.

Market Disruption Analysis

The market disruption analysis delves into the core elements associated with market-influencing changes, including breakthrough technological advancements that introduce novel features, integration capabilities, regulatory shifts that could drive or restrain market growth, and the emergence of innovative market players challenging traditional paradigms. This analysis facilitates a competitive advantage by preparing players in the Carboxylic Acid Market to pre-emptively adapt to these market-influencing changes, enhances risk management by early identification of threats, informs calculated investment decisions, and drives innovation toward areas with the highest demand in the Carboxylic Acid Market.

Porter’s Five Forces Analysis

The porter's five forces analysis offers a simple and powerful tool for understanding, identifying, and analyzing the position, situation, and power of the businesses in the Carboxylic Acid Market. This model is helpful for companies to understand the strength of their current competitive position and the position they are considering repositioning into. With a clear understanding of where power lies, businesses can take advantage of a situation of strength, improve weaknesses, and avoid taking wrong steps. The tool identifies whether new products, services, or companies have the potential to be profitable. In addition, it can be very informative when used to understand the balance of power in exceptional use cases.

Value Chain & Critical Path Analysis

The value chain of the Carboxylic Acid Market encompasses all intermediate value addition activities, including raw materials used, product inception, and final delivery, aiding in identifying competitive advantages and improvement areas. Critical path analysis of the <> market identifies task sequences crucial for timely project completion, aiding resource allocation and bottleneck identification. Value chain and critical path analysis methods optimize efficiency, improve quality, enhance competitiveness, and increase profitability. Value chain analysis targets production inefficiencies, and critical path analysis ensures project timeliness. These analyses facilitate businesses in making informed decisions, responding to market demands swiftly, and achieving sustainable growth by optimizing operations and maximizing resource utilization.

Pricing Analysis

The pricing analysis comprehensively evaluates how a product or service is priced within the Carboxylic Acid Market. This evaluation encompasses various factors that impact the price of a product, including production costs, competition, demand, customer value perception, and changing margins. An essential aspect of this analysis is understanding price elasticity, which measures how sensitive the market for a product is to its price change. It provides insight into competitive pricing strategies, enabling businesses to position their products advantageously in the Carboxylic Acid Market.

Technology Analysis

The technology analysis involves evaluating the current and emerging technologies relevant to a specific industry or market. This analysis includes breakthrough trends across the value chain that directly define the future course of long-term profitability and overall advancement in the Carboxylic Acid Market.

Patent Analysis

The patent analysis involves evaluating patent filing trends, assessing patent ownership, analyzing the legal status and compliance, and collecting competitive intelligence from patents within the Carboxylic Acid Market and its parent industry. Analyzing the ownership of patents, assessing their legal status, and interpreting the patents to gather insights into competitors' technology strategies assist businesses in strategizing and optimizing product positioning and investment decisions.

Trade Analysis

The trade analysis of the Carboxylic Acid Market explores the complex interplay of import and export activities, emphasizing the critical role played by key trading nations. This analysis identifies geographical discrepancies in trade flows, offering a deep insight into regional disparities to identify geographic areas suitable for market expansion. A detailed analysis of the regulatory landscape focuses on tariffs, taxes, and customs procedures that significantly determine international trade flows. This analysis is crucial for understanding the overarching legal framework that businesses must navigate.

Regulatory Framework Analysis

The regulatory framework analysis for the Carboxylic Acid Market is essential for ensuring legal compliance, managing risks, shaping business strategies, fostering innovation, protecting consumers, accessing markets, maintaining reputation, and managing stakeholder relations. Regulatory frameworks shape business strategies and expansion initiatives, guiding informed decision-making processes. Furthermore, this analysis uncovers avenues for innovation within existing regulations or by advocating for regulatory changes to foster innovation.

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Carboxylic Acid Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Carboxylic Acid Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments
  • INEOS Announces the Acquisition of the Eastman Texas City Site for Approx. USD 500 million

    INEOS Group Limited has acquired the Eastman Chemical Company's Texas City site, which includes the 600kt Acetic Acid plant and all associated third-party activities, for approximately USD 500 million. This acquisition signifies INEOS's commitment to expanding its Acetyls business on a global scale. [Published On: 2023-09-28]

  • Perstorp Launches Carboxylic Acids Produced with 100% Renewable Content

    Perstorp AB has introduced new grades of carboxylic acids - Valeric Acid Pro 100 and 2-Ethylhexanoic Acid Pro 100. With the launch of Valeric Acid Pro 100 and 2-EHA Pro 100, Perstorp continues demonstrating its commitment to a sustainable future. [Published On: 2023-09-15]

  • US Celanese Mechanically Completes Clear Lake Acetic Acid Plant

    Celanese Corporation has completed the construction of a new acetic acid plant in Clear Lake, Texas. This state-of-the-art facility, with a capacity of 1.3 million tonnes per year. By leveraging the low natural gas costs in the United States and the ability to maintain production during outages at either unit, Celanese is well-positioned to capitalize on the market opportunities. [Published On: 2023-05-09]

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Carboxylic Acid Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Carboxylic Acid Market, highlighting leading vendors and their innovative profiles. These include abcr GmbH, AFYREN SA, Ajinomoto Co., Inc., Alfa Aesar by Thermo Fisher Scientific Inc., ALPHA CHEMIKA, Ascentus Organics Pvt. Ltd., Ashland Inc., Ashok Alco - chem Limited, BASF SE, Celanese Corporation, Eastman Chemical Company, EBRATOR BIOCHEMICALS,INC., Evonik Industries AG, Finar Limited by Actylis, FINETECH INDUSTRY LIMITED, Firmenich SA, FUJIFILM Wako Pure Chemical Corporation, Hibrett Puratex, INEOS Group, Innospec Inc., JSR Corporation, Kakdiya Chemicals, Kaneka Corporation, Kanto Chemical Co., Inc., Kao Corporation, Koninklijke DSM N.V., LyondellBasell Industries Holdings B.V., Merck KGaA, Mitsui Chemicals, Inc., Noah Chemicals, INC., OQ Chemicals GmbH, Petroliam Nasional Berhad (PETRONAS), ProChem, Inc., Redox Industries Limited, The Dow Chemical Company, The Lubrizol Corporation, Thirumalai Chemicals Ltd., Tokyo Chemical Industry Co., Ltd., VanDeMark Chemical, Inc., Vigon International, LLC, Volu-Sol, VVF L.L.C., and Wacker Chemie AG.

Carboxylic Acid Market - Global Forecast 2024-2030
To learn more about this report, request a free PDF copy
Market Segmentation & Coverage

This research report categorizes the Carboxylic Acid Market to forecast the revenues and analyze trends in each of the following sub-markets:

  • Product
    • Acetic Acid
    • Butyric Acid
    • Caproic Acid
    • Citric Acid
    • Formic Acid
    • Isobutyric Acid
    • Isovaleric Acid
    • Propionic Acid
    • Stearic Acid
    • Valeric Acid
  • Production Technology
    • Renewable Fermentation Process
    • Synthetic Process
      • Carboxylation of Grignard Reagents
      • Oxidation of Alcohols and Aldehydes
      • ​​Hydrolysis of Nitriles and Esters
  • Applicatiion
    • Animal Feed
    • Consumer Goods
    • Food & Beverages
    • Lubricants
    • Personal Care & Cosmetics
    • Pharmaceuticals
    • Textiles, Leather & Rubber

  • Region
    • Americas
      • Argentina
      • Brazil
      • Canada
      • Mexico
      • United States
        • California
        • Florida
        • Illinois
        • New York
        • Ohio
        • Pennsylvania
        • Texas
    • Asia-Pacific
      • Australia
      • China
      • India
      • Indonesia
      • Japan
      • Malaysia
      • Philippines
      • Singapore
      • South Korea
      • Taiwan
      • Thailand
      • Vietnam
    • Europe, Middle East & Africa
      • Denmark
      • Egypt
      • Finland
      • France
      • Germany
      • Israel
      • Italy
      • Netherlands
      • Nigeria
      • Norway
      • Poland
      • Qatar
      • Russia
      • Saudi Arabia
      • South Africa
      • Spain
      • Sweden
      • Switzerland
      • Turkey
      • United Arab Emirates
      • United Kingdom

This research report offers invaluable insights into various crucial aspects of the Carboxylic Acid Market:

  1. Market Penetration: This section thoroughly overviews the current market landscape, incorporating detailed data from key industry players.
  2. Market Development: The report examines potential growth prospects in emerging markets and assesses expansion opportunities in mature segments.
  3. Market Diversification: This includes detailed information on recent product launches, untapped geographic regions, recent industry developments, and strategic investments.
  4. Competitive Assessment & Intelligence: An in-depth analysis of the competitive landscape is conducted, covering market share, strategic approaches, product range, certifications, regulatory approvals, patent analysis, technology developments, and advancements in the manufacturing capabilities of leading market players.
  5. Product Development & Innovation: This section offers insights into upcoming technologies, research and development efforts, and notable advancements in product innovation.

Additionally, the report addresses key questions to assist stakeholders in making informed decisions:

  1. What is the current market size and projected growth?
  2. Which products, segments, applications, and regions offer promising investment opportunities?
  3. What are the prevailing technology trends and regulatory frameworks?
  4. What is the market share and positioning of the leading vendors?
  5. What revenue sources and strategic opportunities do vendors in the market consider when deciding to enter or exit?

Table of Contents
  1. Preface
  2. Research Methodology
  3. Executive Summary
  4. Market Overview
  5. Market Insights
  6. Carboxylic Acid Market, by Product
  7. Carboxylic Acid Market, by Production Technology
  8. Carboxylic Acid Market, by Applicatiion
  9. Americas Carboxylic Acid Market
  10. Asia-Pacific Carboxylic Acid Market
  11. Europe, Middle East & Africa Carboxylic Acid Market
  12. Competitive Landscape
  13. Competitive Portfolio
  14. List of Figures [Total: 22]
  15. List of Tables [Total: 396]
  16. List of Companies Mentioned [Total: 43]
The Role of Carboxylic Acid in the Booming Pharmaceutical Industry
July 17, 2023
BLOG
The Role of Carboxylic Acid in the Booming Pharmaceutical Industry
The pharmaceutical industry continuously expands worldwide, driven by the growing demand for innovative medicines and efficient treatment options. As the sector evolves, the need for new compounds and active pharmaceutical ingredients (APIs) that can deliver outstanding therapeutic benefits expands. One compound that has gained increased attention in recent years is Carboxylic acid, a versatile class of organic acids extensively used in the pharmaceutical industry. This blog post explores carboxylic acid's various applications in the pharmaceutical industry and how this simple molecule has facilitated significant advancements in drug discovery and development.

Role of Carboxylic Acid in Drug Design:

Carboxylic acids are known to possess a wide range of biological activities, making them helpful building blocks in the design and synthesis of new drug molecules. They are commonly used as protecting groups during the chemical synthesis of complex organic compounds and as intermediates in preparing various derivatives. Additionally, carboxylic acids and their derivatives serve as ligands, essential components of metal complexes that exhibit potent antioxidant and anti-cancer activities.

Carboxylic Acid-based Drugs:

Several drugs on the market feature carboxylic acid as their active moiety, including aspirin, ibuprofen, and naproxen, three of the most widely used non-steroidal anti-inflammatory drugs (NSAIDs). Carboxylic acid derivatives such as carbamazepine and valproic acid are antiepileptic agents, while salicylic acid is a keratolytic agent used to treat acne and psoriasis. These drugs are known to act by inhibiting enzymatic pathways linked to the production of prostaglandins, enzymes that mediate inflammation.

Anti-cancer Properties of Carboxylic Acid:

Studies have shown that carboxylic acids, especially those derived from the fatty acid family, possess potent anti-cancer properties and can induce cancer cell death. They are believed to inhibit enzymes involved in cell division and DNA replication, thereby helping to reduce the growth rate of cancer cells. Additionally, carboxylic acid derivatives such as indomethacin and celecoxib can inhibit cyclooxygenase-2 (COX-2) enzymes, which are overexpressed in several cancers and enhance cell viability.

Use of Carboxylic Acid for Drug Delivery:

Carboxylic acids, including liposomes and nanoparticles, are used extensively in drug delivery systems. These molecules serve as pH-responsive switches, allowing for targeted drug delivery to specific sites in the body. Typically, the drug is covalently linked to the carboxylic acid derivative through an ester or amide bond, enabling the release of the drug in response to changes in pH, temperature, or enzyme concentrations.

Challenges and Opportunities:

While carboxylic acids continue to show great promise in the pharmaceutical industry, their use has several challenges. These include their intrinsic acidity, making them less soluble and more susceptible to hydrolysis, and their reactivity with other molecules, resulting in unwanted side reactions. However, recent advancements in chemical technology have enabled the development of more stable and selective carboxylic acid derivatives, opening up new doors for drug discovery and development in the years to come.

Carboxylic acid has emerged as an essential building block in the design and synthesis of numerous drugs and biologically active compounds. Its versatile chemistry has enabled the development of targeted drug delivery systems and new drugs to combat diseases like cancer and inflammation. The boom in the pharmaceutical industry worldwide has only served to highlight the importance of this simple yet powerful molecule, and the opportunities for its use are boundless.

Frequently Asked Questions
  1. How big is the Carboxylic Acid Market?
    Ans. The Global Carboxylic Acid Market size was estimated at USD 17.56 billion in 2023 and expected to reach USD 18.64 billion in 2024.
  2. What is the Carboxylic Acid Market growth?
    Ans. The Global Carboxylic Acid Market to grow USD 26.99 billion by 2030, at a CAGR of 6.33%
  3. When do I get the report?
    Ans. Most reports are fulfilled immediately. In some cases, it could take up to 2 business days.
  4. In what format does this report get delivered to me?
    Ans. We will send you an email with login credentials to access the report. You will also be able to download the pdf and excel.
  5. How long has 360iResearch been around?
    Ans. We are approaching our 7th anniversary in 2024!
  6. What if I have a question about your reports?
    Ans. Call us, email us, or chat with us! We encourage your questions and feedback. We have a research concierge team available and included in every purchase to help our customers find the research they need-when they need it.
  7. Can I share this report with my team?
    Ans. Absolutely yes, with the purchase of additional user licenses.
  8. Can I use your research in my presentation?
    Ans. Absolutely yes, so long as the 360iResearch cited correctly.