Report : Asia Pacific Butyric Acid Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Source (Renewable Butyric Acid and Synthetic Butyric Acid) and Application (Printing Inks, Animal Feed, Food Flavors and Food Fragrances, Chemical Intermediates, Pharmaceutical, and Others) Â Â Â Â Â Â
Animal Feed Segment to Dominate APAC Butyric Acid Market during 2020–2028
According to a new market research study on “APAC Butyric Acid Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Source and Application” is expected to reach US$ 188.00 million by 2028 from 69.28 US$ million in 2021. The market is estimated to grow at a CAGR of 15.3% from 2021 to 2028. The report provides trends prevailing in the APAC butyric acid market along with the drivers and restraints pertaining to the market growth. Butyric acid being used as precursor to biofuels is the major factor driving the growth of the APAC butyric acid market. However, issues associated with fluctuating prices of raw materials and health hazards related to handling of butyric acid hinders the growth of APAC butyric acid market.
The APAC butyric acid market is analyzed on three fronts: Source, application, and country. Based on source, the market has been segmented into renewable butyric acid and synthetic butyric acid. The renewable butyric acid segment held the largest market share in 2020. Based on application, the market is segmented into printing inks, animal feed, food flavors and fragrances, chemical intermediates, pharmaceuticals, and others. The animal feed segment held the largest market share in 2020. Based on country, the APAC butyric acid market is segmented into Australia, China, India, Japan, South Korea, and the Rest of APAC.
Alfa Aesar; Eastman Chemical Company; Hefei TNJ Chemical Industry Co., Ltd.; Kunshan Odwell Co., Ltd.; MERCK KGaA; OQ Chemicals GmbH; Perstorp Holding AB; Tokyo Chemical Industry Co., Ltd.; and Yufeng International Co., Ltd. are among the leading companies in the APAC butyric acid market.
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