With a Staggering CAGR of over 12%, Butyric Acid Market Will Grow Steadily Until 2020, Predicts Technavio

LONDON--()--According to the latest market study released by Technavio, the global butyric acid market is expected to reach USD 262.1 million by 2020, growing at a CAGR of more than 12%.

This research report titled ‘Global Butyric Acid Market 2016-2020’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. To calculate the market size, the report considers the revenue generated from the sales of butyric acid in several industries, including the animal feed, chemical intermediate, and food and flavor industries during 2015.

The synthetic butyric acid segment is the largest butyric acid segment by type with a share of 60.23% in 2015. It is projected to grow at a CAGR of 12.62% as it is considered as the major raw material for animal feeds, especially for swine and poultry. This segment will also show a rise in emerging economies like India and China.

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Technavio’s chemicals and materials analysts categorize the global butyric acid market into four major segments by application. They are:

  • Animal feed
  • Chemicals intermediate
  • Food and flavors
  • Others
 

Global butyric acid market by application 2015

Animal feed   63.82%
Chemicals intermediate 16.78%
Food and flavors 8.64%
Others   10.76

Source: Technavio

 

The top three segments for the global butyric acid market are as follows:

Global butyric acid market in animal feed segment

 
The animal feed segment in the global butyric acid market was valued at USD 93.8 million in 2015 and will reach USD 177.5 million by 2020, growing at a CAGR of 13.61%.
 

Animal feed is essential to promote the growth and acid resistance to Escherichia coli in cattle, swine, and poultry. The butyric acid market in the animal feed segment is experiencing an increase in the demand for quality animal feed because of its health benefits. 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. This results in lower vet costs, improved income over feed cost, and increase in longevity of animals.

According to Swapnil Tejveer Sharma, a lead specialty chemicals research analyst from Technavio, “Feed manufacturers are looking for safe, healthy, and economic flavors. The market is constantly evolving, and butyric acid-based products are continuously being introduced in the market. We expect that rising health consciousness among end-user customers will lead to increased demand for butyric acid, especially in the meat markets.”

Global butyric acid market in chemical intermediate segment

 
The chemical intermediate segment in the global butyric acid market was valued at USD 24.65 million in 2015 and will reach USD 40.99 million by 2020, growing at a CAGR of 10.71%.
 

Butyric acid is used as a chemical intermediate for the manufacturing of polymers, specialty chemicals, solvents, plastics, varnishes, and disinfectants. Fermentation-derived butyric acid plays an increasingly important role as chemical feedstocks and fuel supplements. In addition, butanol, which is a promising biofuel and an important solvent, is produced by catalytic reduction of biologically derived butyrate with hydrogen. Another example is butanol derived from fermentation are enzymatically esterified with butyric acid to produce butyl butyrate. Butyl butyrate is considered as an alternative aviation fuel.

“The synthesis of cellulose acetate butyrate plastics also requires butyric acid. It introduces butyl group to the cellulose acetate polymer, which gives the polymer better hydrophobicity, flexibility, and resistance to light and cold. Butyric acid also provides improved performance to the polymer regarding solubility in organic solvents,” says Swapnil.

Global butyric acid market in food and flavor segment

 
The food and flavor segment in the global butyric acid market was valued at USD 12.69 million in 2015 and will reach USD 18.36 million by 2020, growing at a CAGR of 7.67%.
 

The food and flavor segment is the third largest segment contributing to 8.64% share of the overall market. Many regions, including APAC, Europe, and North America, have been innovating new flavors and food items based on butyric acid. Butyric acid-based foods and flavors are gaining popularity from past few years owing to the health benefits that it offers over its substitutes.

Esters of butyric acid are used to manufacture artificial-flavored oils such as apricot-flavored oil and pineapple-flavored oil. Amyl butyrate and methyl butyrate are the major components of these oils. Apart from being used as a flavoring agent, these oils have medical properties like bone growth promotion, heal dental surgeries, and treat colds, sore throats, and acute sinusitis.

The top vendors highlighted by Technavio’s research analysts in this report are:

  • Blue Marble Biomaterials
  • Eastman
  • Thermo Fisher
  • OXEA
  • Perstorp

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

According to the latest market study released by Technavio, the global butyric acid market is expected to reach USD 262.1 million by 2020, growing at a CAGR of more than 12%.

$Cashtags

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com