Butyric Acid Market is Projected to Reach a Value of $492 Million by 2027
The butyric acid market is projected to grow from USD 317 million in 2022 to USD 492 million by 2027, at a CAGR of 9.2% from 2022 to 2027. Butyric acids are used in various end-uses such as animal feed, chemical intermediates, pharmaceuticals, and food & flavors, among others.
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Some of the key players in this market are Perstorp Holding AB (Sweden), OQ Chemicals GmbH (Germany), Eastman Chemical Company (US), Palital Feed Additives B.V. (The Netherlands), Tokyo Chemical Industry Co., Ltd. (Japan), Snowco (China), Merck KGaA (Germany), Kemin Industries, Inc. (US). These companies have adopted product launches, mergers & acquisitions, partnerships, acquisitions, and expansions as growth strategies to enhance their position in the butyric acid market.s
Perstorp Holding AG is one of the key players in the butyric acid market. The company is one of the leading specialty chemical firms with a focus on resins & coatings, engineered fluids, and animal nutrition markets. It has manufacturing facilities in seven countries throughout Asia, Europe, and North America. In April 2022, Perstorp launched Gastrivix Avi, which contains the combined benefits of valeric and butyric acid. It is a novel poultry feed ingredient from that promotes gut health.
Another major player is OQ Chemicals GmbH. The company is a manufacturer of oxo performance chemicals and oxo intermediates, such as carboxylic acids, specialty esters, polyols, alcohols, and amines. It has manufacturing facilities in the Americas, Europe, and Asia Pacific. In October 2020, with the successful completion of a recent expansion project at its Oberhausen, Germany location, OQ Chemicals increased its isononanoic acid production capacity globally by 30%. The completed project is part of the earlier announced carboxylic acid expansions in the short and mid-term.
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The Asia Pacific butyric acid market dominated in terms of value, holding the largest market share. This supremacy can be ascribed to factors such as population growth, increasing disposable incomes, rapid urbanization across the Asia Pacific region, and a heightened demand for premium-quality meat products.
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