butyric acid Market

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.

The demand for butyric acid is predominantly driven by its usage in the animal feed sector, which offers numerous benefits. Additionally, the acid finds extensive application in the pharmaceutical industry due to its ability to improve digestive health, manage weight, and prevent cancer. The growth of the pharmaceutical industry across several countries is further fuelling the demand for butyric acid. Furthermore, butyric acid is being explored as a precursor for biofuel production, thus providing attractive opportunities for market growth in the future.

The global market for butyric acid is classified into two segments based on its source - renewable butyric acid and synthetic butyric acid. As of 2020, the synthetic butyric acid segment accounted for a larger share of the market. Synthetic butyric acid is primarily used on an industrial scale and is produced by means of chemical synthesis. It is used in the manufacture of disinfectants, perfumes, printing inks, medicines, and flavors. Additionally, synthetic butyric acid is used in the production of cellulose acetate butyrate (CAB), which finds wide application in various coatings, components, and devices.

The Asia Pacific region dominated the global butyric acid market in terms of revenue in 2020. This region is further segmented into Australia, China, India, Japan, South Korea, and the rest of Asia Pacific. China and India are the major consumers of butyric acid in this region, where it is used in the production of chemical intermediates for the synthesis of butyrate esters, methyl butyrate, and cellulose acetate butyrate (CAB). These intermediates have a wide range of applications in industries such as perfumes, coatings, paints, and inks. The significant use of butyric acid in chemical intermediate production has led to the growth of the butyric acid market in Asia Pacific. Additionally, the growing demand for poultry meat and other chemical intermediates in India has also contributed to the market growth.

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. are among the players operating in the global butyric acid market. Market players operate their production and distribution services in various countries worldwide, which helps them cater to a wider customer base. Market players are highly focused on the development of high quality and innovative services offerings to fulfil the customer's requirements.

The global butyric acid market size has been determined using a combination of primary and secondary research methods. The research process began with extensive secondary research utilizing internal and external sources to gather both qualitative and quantitative data related to the market. To validate the data and gain deeper analytical insights, multiple primary interviews were conducted with various industry participants including VPs, business development managers, market intelligence managers, national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders who specialize in the butyric acid market.