The global butyric acid market was valued at US$ 307.2 million in 2021 and is anticipated to reach US$ 1.6 billion by 2032, with a robust CAGR of 16.6% between 2022 and 2032. Among the segments, synthetic butyric acid is expected to lead in revenue generation, with projected growth at a CAGR exceeding 17.6% during the forecast period.
Synthetic butyric acid is a chemically synthesized butyric acid that is mostly utilized in industry. Synthetic butyric acid is used to make printing inks, disinfectants, tastes, medications, and perfumes, among other things. Butyrate of cellulose acetate (CAB) is made from synthetic butyric acid and is utilized in a variety of devices, components, and coatings.
Cost Effectiveness of Butyric Acid Propels its Demand in Animal Feed Applications
Butyric acid is utilized to promote gut health in animals. As a result, there is high demand for butyric acid in animal feed industry as it also enhances animal performance and intestinal health. Butyric acid also used to promote nutritional absorption in animals. The growth of butyric acid is driven by rising demand for animal feed, specifically for pigs and poultry. Butyric acid is cost effective as it costs US$ 0.15 per kilogram and further helps in reducing cost of feed for animals. Butyric acid is used in feed as it protects broiler chicken from salmonella enteritis infection.
Besides, butyric acid is well known for its anti-cancer properties. The chemical is also being studied by researchers for its ability to prevent colon cancer. According to some studies, it can also be used to treat Crohn’s disease and irritable bowel syndrome. These factors are driving the growth of butyric acid market.
Key Takeaways from the Study
- Butyric Acid Market was valued at US$ 307.2 Mn in 2021. According to Fact.MR, Butyric Acid Market revenue would increase 4.6X between 2022 and 2032, reaching roughly US$ 1.6 Bn in 2032.
- In terms of Product Type, Synthetic Butyric Acid is projected to account for the highest projected CAGR of over 17.6%.
- In terms of application, Animal feed accounted for the highest CAGR of 14.5% during the historic period (2017-21).
- US is the dominant country in Butyric Acid Market with an expected absolute dollar growth opportunity of over US$ 260.2 Mn.
Competitive Landscape:
The butyric acid market is highly competitive, with the presence of numerous global and domestic players. Companies in this market are actively focusing on developing enhanced analytical solutions and expanding their product portfolios. Key players are prioritizing strategic alliances and technology collaborations to strengthen their market position. Tier 2 players, in particular, are aiming to increase their market share in the butyric acid industry.
Recent key developments include:
- In May 2022, Petronas Chemical Group acquired Perstorp Holding AB, a move aimed at boosting innovation and advancing sustainable product transformation for the company.
Further updates and developments related to key players in the butyric acid market have been tracked by Fact.MR and can be accessed in the full report.
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