U.S (New York)–The Report Ocean has recently published a new report titled “Organic Acids Market ” 2023, which outlines the regional and global markets that are predicted to experience significant growth between 2023 and 2031. This extensive research delves deeply into the market’s ever-changing dynamics, value chain analysis, competitive landscapes, investment hotspots, geographical landscape, and significant segments, providing critical insights and valuable information for policymakers, stakeholders, investors, newcomers, and industry professionals. In addition, the report provides a comprehensive examination of the industry’s controls and restraints, as well as information on the global industry’s plans and opportunities. By utilizing this report, individuals in the industry can capitalize on emerging opportunities, develop key strategies, and gain a competitive edge over rivals.
Organic acids are compounds which possess acidic properties. Carboxyl acids are the most commonly used organic acids, which comprise carboxyl group with long carbon chain. Organic acids produced by replacing one hydroxyl group in sulfuric acid are sulfonic acids such as toluene sulfonic acid and methane sulfonic acid. Carboxyl acids are weak organic acids, whereas sulfonic acids are among the strongest acids. Some of the commonly used organic acids include acetic acid, lactic acid, citric acid, ascorbic acid, and others. The market for organic acids has considerably grown in the recent years in developing nations such as China, India, Brazil, and others, owing to increase in investments in chemicals, petrochemicals, and oil & gas industries.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
Moreover, organic acids such as acetic acid and formic acid are extensively deployed in oil & gas well stimulation treatments. These acids owing to their less reactive property with metals inhibit the formation of corrosion layer between acid and pipe. Therefore, they are widely used during perforation, when acid and pipe come in contact for a long time to prevent corrosion. The aforementioned properties of organic acids are expected to drive the growth of the market. The market for renewable organic acids is also driven by the stringent environmental regulations imposed by regulatory bodies of various nations on conventional organic acid manufacturers. Furthermore, increase in production of organic acids from biomass (renewable source) as an alternative to fossil fuel-derived chemicals is another factor that fuels the market growth.
The organic acids market is segmented based on type, end-user, source, and geography. On basis of type, the market is classified into acetic acid, citric acid, lactic acid, itaconic acid, succinic acid, gluconic acid, ascorbic acid, fumaric acid, and propionic acid. The citric acid segment holds the largest share in 2016, and is expected to grow throughout the forecast years. The pharmaceutical segment is estimated to grow at a significant CAGR of 15% during the analysis period. By source, the market is categorized into biomass, molasses, starch, chemical synthesis, and agro-industrial residue. Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific accounted for nearly half of the share of the total revenue in 2016, followed by North America and Europe.
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KEY BENEFITS FOR STAKEHOLDERS
The report provides an extensive analysis of the current & emerging trends, estimations, and opportunities during the forecast period in the organic acids market.
Comprehensive analysis of factors that drive and restrict the growth of the market is provided.
Comprehensive regional analysis of the market based on primary and secondary sources is provided.
Extensive analysis of the market is conducted by following key product positioning and by monitoring the top competitors.
The report provides key insights on strategic analysis of various companies and value chain analysis of the market.
Key market players have invested in R&D activities to develop advanced products to cater the demand in various end-user industry. The key players in the organic acids market include:
BASF SE
Cargill, Inc.
The Dow Chemical Company
Eastman Chemical Company
Myriant Corporation
Celanese Corporation
Archer Daniels Midland Company
Henan Jindan Lactic Acid Technology Co. Ltd.
Tate & Lyle Plc.
E. I. Du Pont De Nemours and Company
Other players in the value chain (profiles not included in the report) include:
Carbion
BioAmber
Genomatica
Senvia Chemicals
NatureWorks LLC
SIM Chemical
Discovery Fine Chemicals
Synbra
Galactic
Organic Acids Market Key Segments:
By Type
Acetic Acid
Citric Acid
Formic Acid
Lactic Acid
Itaconic Acid
Succinic Acid
Gluconic Acid
Ascorbic Acid
Fumaric Acid
Propionic Acid
By Source
Biomass
Molasses
Starch
Chemical Synthesis
Argo-Industrial Residue
By End-Users
Food & Beverage
Animal Feed
Chemicals & Industrial
Pharmaceuticals
Personal Care
Agriculture
Others
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By Geography
North America
U.S.
Canada
Mexico
Europe
France
Germany
UK
Spain
Italy
Rest of Europe
Asia-Pacific
India
China
Japan
Korea
Rest of Asia-Pacific
LAMEA
Brazil
South Africa
Argentina
Rest of LAMEA
Table of Content:
- Report Overview
- Global Growth Trends
- Competition Landscape by Key Players
- Data Segments
- North America Market Analysis
- Europe Market Analysis
- Asia-Pacific Market Analysis
- Latin America Market Analysis
- Middle East & Africa Market Analysis
- Key Players Profiles Market Analysis
- Analysts Viewpoints/Conclusions
- Appendix
Key Benefits of This Market Research:
- Industry drivers, restraints, and possibilities included in the study
- Neutral point of view on the market performance
- Recent enterprise developments and developments
- Competitive panorama and techniques of key players
- Potential and area of interest segments and areas exhibiting promising increase covered
- Historical, current, and projected market size, in phrases of value
- In-depth evaluation of the Market
- Overview of the regional outlook of the Market
Reasons for Buying Acetonitrile Market Report:
- This report gives a forward-looking prospect of various factors driving or restraining market growth.
- It renders an in-depth analysis for changing competitive dynamics.
- It presents a detailed analysis of changing competition dynamics and puts you ahead of competitors.
- It gives a ten-year forecast evaluated on the basis of how the market is predicted to grow.
- It assists in making informed business decisions by performing a pin-point analysis of market segments and by having complete insights of the Market.
- This report helps the readers understand key product segments and their future.
- From 2022 to 2031, All Recent Developments have been covered in this Report.
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