According to the latest market research study released by Technavio, the global butyric acid market is expected to grow at a CAGR of more than 12% during the forecast period 2016-2020.
This market research report by Technavio provides an in-depth analysis of the market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
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Technavio research analysts categorize the global butyric acid market based on application:
Global golf equipment market share by application 2015
|
Animal Feed |
63.82% |
|
Chemicals intermediate |
16.78% |
|
Food and Flavors |
8.64% |
|
Others |
10.76% |
Source: Technavio
The top three revenue contributing product segments are discussed below:
Global butyric acid market in animal feed segment
The animal feed segment in the global butyric acid market was valued at over $93 million in 2015 and will grow at a CAGR of almost 14% by 2020. The increasing demand for quality animal feed that is associated with health benefits, will lead to the growth of this market segment. Animal feed is essential to promote the growth and acid resistance to Escherichia coli in cattle, swine, and poultry. The use of superior quality animal feed helps in reducing the danger of acidosis and metabolic disorders. It also improves the Mil-Spec component and reduces injuries and infections in the hooves of cattle. Such benefits of using good quality animal feed will help in the growth of this market segment in the coming years.
“The extensive use of butyric acid-based products offers feed manufacturers safe, healthy, and economic flavors. The rising health consciousness among consumers will boost the demand for butyric acid in the meat industry. These products help in improving nutrient availability and digestibility of the animal feed which in turn, will result in the rapid growth of the market,” says Swapnil T S, a lead analyst at Technavio for research on specialty chemicals.
Global butyric acid market in chemical intermediate segment
The chemical intermediate segment in the global butyric acid market was valued at around $25 million in 2015 and will grow at a CAGR of almost 11% by 2020. Butyric acid is used for manufacturing of polymers, specialty chemicals, solvents, plastics, varnishes, and disinfectants. The increasing demand for biofuel, butanol is produced by catalytic reduction of biologically derived butyrate with hydrogen, and this will lead to the growth of this market. The synthesis of cellulose acetate butyrate plastics also requires butyric acid and introduces butyl group to the cellulose acetate polymer, which gives the polymer better hydrophobicity, flexibility, and resistance to light and cold. The growing popularity of bio-based butyric acid, as a chemical intermediate will drive the market growth during the forecast period.
Global butyric acid market in food and flavor segment
The food and flavor segment in the global butyric acid market was valued at about $13 million in 2015 and will grow at a CAGR of almost 8% by 2020. The health benefits associated with butyric acid is encouraging vendors to innovate new flavors and food items which is resulting in the growth of this market segment. Butyric acid is used to manufacture artificial-flavored oils like apricot-flavored oil and pineapple-flavored oil. These oils help in bone growth promotion, heal dental surgeries, and treat colds, sore throats, and acute sinusitis. The use of butyric acid food products boost immunity and helps in colonization of healthy bacteria.
The top leading vendors operating in the global butyric acid market are:
- Blue Marble Biomaterials
- Eastman
- Thermo Fisher
- OXEA
- Perstorp
Other prominent vendors in the butyric acid market include Tokyo Chemical Industry, Beijing Huamaoyuan Fragrance Flavor, Snowco, Alfa Aesar, and Sigma-Aldrich.
A more detailed analysis is available in the Technavio report titled, ‘Global Butyric Acid Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
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