Butyric Acid Derivative Market Overview:
As per MRFR analysis, the Butyric Acid Derivative Market Size was estimated at 1.42 (USD Billion) in 2022. The Butyric Acid Derivative Market is expected to grow from 1.5 (USD Billion) in 2023 to 2.5 (USD Billion) by 2032. The Butyric Acid Derivative Market CAGR (growth rate) is expected to be around 5.81% during the forecast period (2024 - 2032).
Key Butyric Acid Derivative Market Trends Highlighted
The Butyric Acid Derivative Market is expanding rapidly due to increasing demand from various industries.
The pharmaceutical industry drives the market, utilizing butyric acid derivatives as intermediates in drug synthesis. The food and beverage industry also plays a significant role, utilizing butyric acid derivatives as flavoring agents and preservatives.
Moreover, the agricultural industry employs butyric acid derivatives as herbicides and plant growth regulators.
Emerging trends in the market include a growing preference for bio-based butyric acid derivatives driven by environmental concerns. This has led to increased investment in research and development of sustainable production processes.
Additionally, the market is expected to benefit from advancements in biotechnology and genetic engineering, enabling the production of novel and more efficient butyric acid derivatives.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Butyric Acid Derivative Market Drivers
Rising Demand for Bio-Based Products
The increasing consumer inclination for eco-friendly and sustainable products is driving the demand for bio-based chemicals, including bio-based butyric acid derivatives.
As these derivatives are produced from renewable resources, such as biomass and plants, they have fewer carbon footprints than their petroleum-based counterparts. This is expected to drive the Butyric Acid Derivative Market in the future.
Expansion of the Personal Care and Cosmetics Industry
Butyric Acid Derivatives are widely used in the personal care and cosmetic industry. They are used as surfactants, emollients, and moisturizers in various skin care and hair care products.
The growth of the Butyric Acid Derivative Market is expected to be driven by the growing demand for personal care products, increasing disposable income, and rising awareness about skin and hair care.
Advancements in Pharmaceutical Applications
Butyric acid derivatives have gained significant attention in the pharmaceutical industry due to their potential therapeutic applications. They are being explored for their anti-inflammatory, anti-cancer, and neuroprotective properties.
Research and development efforts are underway to develop novel butyric acid derivatives with improved efficacy and targeted delivery mechanisms. This growing interest in the pharmaceutical sector is expected to contribute to the growth of the Butyric Acid Derivative Market.
Butyric Acid Derivative Market Segment Insights:
Butyric Acid Derivative Market Type Insights
The Butyric Acid Derivative Market is segmented by type into Butyl Acetate, Butyl Acrylate, Methyl Butyrate, Butyl Methacrylate, and Polyvinyl Butyral.
Butyl Acetate is the largest segment of the Butyric Acid Derivative Market, accounting for over 30% of the global market share in 2023.
Butyl Acetate is used in a variety of applications, including as a solvent in paints, coatings, and adhesives, and as a flavoring agent in food and beverages.
The Butyl Acetate segment is expected to grow at a modest pace in the years to come, fueled by the growing demand for these products in the emerging markets.
Butyl Acrylate is the second-largest segment of Butyric Acid Derivative Market, which will account for more than 25% of the global market share in 2023.
Butyl Acrylate is used in a variety of applications, including as a monomer in the production of plastics and polymers, and as a coating for paper and textiles.
The Butyl Acrylate segment will grow at a moderate pace in the years to come, with the growing demand for these products in the automotive and construction industries.
Methyl Butyrate is the third-largest segment of the Butyric Acid Derivative Market, accounting for more than 20% of the global market share in 2023.
Methyl Butyrate is used in a variety of applications, including as a solvent in paints and coatings, and as a flavoring agent in food and beverages. The Methyl Butyrate segment will grow at a modest pace in the years to come, with the growing demand for these products in the food and beverage industry.
Butyl Methacrylate is the fourth-largest segment of the Butyric Acid Derivative Market, which will account for more than 15% of the global market share in 2023. Butyl Methacrylate is used in a variety of applications, including as a solvent in paints and coatings, and as flavoring agent in food and beverages.
The Butyl Methacrylate segment will grow at a moderate pace in the years to come, with the growing demand for these products in the automotive and construction industries.
Polyvinyl Butyral is the smallest segment of the Butyric Acid Derivative Market, which will account for less than 10% of the global market share in 2023.
Polyvinyl Butyral is used in a variety of applications, including as coatings in glass and metals and as a binder in paints and adhesives.
The Polyvinyl Butyral segment will grow at a slow pace in the years to come, with the growing demand for these products in the coated glass and metals and binder industries is being offset by the increased use of other materials.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Butyric Acid Derivative Market Application Insights
The Butyric Acid Derivative Market is segmented based on application into paints and coatings, plastics and resins, fragrances and flavors, pharmaceuticals, and industrial solvents.
The paints and coatings segment is expected to hold the largest market share in 2023 due to emerging demand for high-performance coatings in the automotive and construction industries.
The plastics and resins segment is projected to grow at the highest CAGR, owing to increasing demand for lightweight and durable plastics among various end-use industries.
The fragrances and flavors segment is expected to hold a significant market share due to the emerging use of butyric acid derivatives for producing food additives and cosmetics.
Pharmaceuticals segment is expected to have a steady growth, due to increasing demand for butyric acid derivatives in the production of drugs and healthcare products.
The industrial solvents segment is expected to hold a notable market share due to increasing use of butyric acid derivatives for producing cleaning agents and degreasers.
Butyric Acid Derivative Market End-Use Industry Insights
The end-use industry segment of the Butyric Acid Derivative Market is categorized into automotive, construction, electronics, packaging, and personal care. Among these, the packaging industry is anticipated to hold the largest market share in 2023, valued at around 0.5 billion USD.
This dominance is attributed to the increasing demand for flexible packaging solutions, particularly in the food and beverage industry.
The automotive industry is projected to witness significant growth over the forecast period, driven by the rising production of automobiles and the growing adoption of bio-based materials in vehicle interiors.
The construction industry is also expected to contribute to market growth due to the increasing use of butyric acid derivatives in building materials for their flame retardant and antifungal properties.
The electronics industry finds application for butyric acid derivatives in the production of printed circuit boards and other electronic components. Lastly, the personal care industry utilizes butyric acid derivatives in the formulation of cosmetics, toiletries, and fragrances.
Butyric Acid Derivative Market Regional Insights
The Butyric Acid Derivative Market is segmented into North America, Europe, APAC, South America, and MEA.
APAC is expected to be the fastest-growing region, with a value of 0.30 (USD Billion) in 2023 and is projected to grow at a CAGR of 6.50% to reach a value of 0.48 (USD Billion) by 2032.
South America and MEA are expected to have relatively smaller market shares but are also expected to experience steady growth over the forecast period.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Butyric Acid Derivative Market Key Players and Competitive Insights:
Major players in the Butyric Acid Derivative Market are constantly striving to gain a competitive edge in the market. They are investing in research and development to introduce innovative products and technologies.
Leading Butyric Acid Derivative Market players are also focusing on expanding their global presence through strategic partnerships and acquisitions. The Butyric Acid Derivative Market is expected to witness significant growth in the coming years, driven by increasing demand from end-use industries.
BASF is a leading global chemical company with a strong presence in the Butyric Acid Derivative Market. The company offers a wide range of butyric acid derivatives, including esters, amides, and salts. BASF has a global manufacturing network and a strong sales and distribution network.
The company is also committed to sustainability and has a number of initiatives in place to reduce its environmental impact.
Evonik is another leading player in the Butyric Acid Derivative Market. The company offers a range of butyric acid derivatives, including esters, amides, and salts.
Evonik has a global manufacturing network and a strong sales and distribution network. The company is also committed to innovation and has several research and development projects underway. Evonik is well positioned to continue to grow its market share in the coming years.
Key Companies in the Butyric Acid Derivative Market Include:
-
Eastman Chemical Company
-
Oxea
-
Ashland
-
Mitsui Chemicals, Inc.
-
Arkema
-
Chevron Phillips Chemical Company LP
-
BASF SE
-
Dow Chemical Company
-
Perstorp
-
LyondellBasell Industries Holdings B.V.
-
Invista
-
Lotte Chemical Corporation
-
WeylChem
-
SABIC
-
Evonik Industries AG
Butyric Acid Derivative Market Developments
The rising demand for butyric acid derivatives in the food and beverage industry, coupled with increasing applications in the pharmaceutical and personal care sectors, is driving market growth.
Recent developments include the launch of new products, such as Clariant's Exolit OP 1600, a flame retardant based on butyric acid, and BASF's Kolliphor P 188, a non-ionic surfactant used in personal care products. Strategic acquisitions and collaborations are also shaping the market landscape.
For instance, in 2021, Croda International acquired Iberchem, a leading manufacturer of fragrances and flavors, to strengthen its position in the personal care market.
Butyric Acid Derivative Market Segmentation Insights
| Report Attribute/Metric |
Details |
| Market Size 2022 |
1.42(USD Billion) |
| Market Size 2023 |
1.5(USD Billion) |
| Market Size 2032 |
2.5(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
5.81% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Eastman Chemical Company, Oxea, Ashland, Mitsui Chemicals, Inc., Arkema, Chevron Phillips Chemical Company LP, BASF SE, Dow Chemical Company, Perstorp, LyondellBasell Industries Holdings B.V., Invista, Lotte Chemical Corporation, WeylChem, SABIC, Evonik Industries AG |
| Segments Covered |
Type, Application, End-Use Industry, Regional |
| Key Market Opportunities |
The growth of the food and beverage industry Increasing demand for bio-based products Rising adoption in pharmaceutical applications Technological advancements in manufacturing processes Expanding applications in personal care and cosmetics |
| Key Market Dynamics |
Increasing demand for bio-based products Rising use in food and beverage applications The growing pharmaceutical industry urge in demand for personal care products Technological advancements in production processes |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The global butyric acid derivatives market is projected to reach USD 2.5 billion by 2032, exhibiting a CAGR of 5.81% during the forecast period of 2024-2032.
Asia Pacific is expected to dominate the Butyric Acid Derivative Market throughout the forecast period, owing to the increasing demand from end-use industries such as food beverages, pharmaceuticals, and personal care.
The key growth drivers of the Butyric Acid Derivative Market include rising demand for natural and organic ingredients in food and beverages, increasing applications in pharmaceuticals, and growing adoption of personal care products.
Some of the key competitors in the Butyric Acid Derivative Market include BASF, Cargill, Dow, Eastman Chemical Company, Evonik Industries, and Perstorp.
Butyric acid derivatives find applications in various industries, including food beverages as flavoring agents and preservatives, pharmaceuticals as drug intermediates, and personal care products as emollients and surfactants.
The global butyric acid derivatives market is projected to grow at a CAGR of 5.81% during the forecast period of 2024-2032.
The Butyric Acid Derivative Market faces challenges such as stringent regulations regarding the use of chemicals in food, beverages, and pharmaceuticals and competition from synthetic alternatives.
The growing demand for natural and organic ingredients, increasing applications in pharmaceuticals, and rising consumer awareness about the benefits of butyric acid derivatives present opportunities for market growth.
Key trends in the Butyric Acid Derivative Market include the development of bio-based and sustainable production processes, increasing demand for customized products, and the adoption of advanced technologies for efficient manufacturing.
The COVID-19 pandemic had a moderate impact on the Butyric Acid Derivative Market. While some industries experienced a decline in demand, others, such as pharmaceuticals and personal care, witnessed increased demand for butyric acid derivatives due to their antimicrobial and antiviral properties.
