United States Butyric Acid Market to Grow with a CAGR of 8.11% through 2028
Growing demand of butyric acid in production of biofuels and bioplastics
is expected to drive the United States Butyric Acid Market growth in the
forecast period, 2024-2028.
According to TechSci Research report, “United
States Butyric Acid Market- By Region, Competition, Forecast and
Opportunities, 2018-2028F”, the United States Butyric Acid Market is estimated
to reach USD 185.23 million by 2028 and is anticipated to grow with a CAGR of 8.11%
in the forecast period, 2024-2028. Initiatives taken by government based on butyric
acid has led to favorable market conditions for the United States Butyric Acid
Market. Several factors contribute to the growth of various butyric acid products.
Researchers at the National Renewable Energy
Laboratory (NREL) have successfully developed an innovative and
energy-efficient process for producing renewable butyric acid. This groundbreaking
process not only significantly reduces greenhouse gas emissions by an
impressive 50% when compared to conventional methods, but it also plays a
crucial role in the advancement of more affordable and sustainable biofuels.
In another significant development, the Agricultural
Marketing Service (AMS) of the USDA has recently granted approval for the use
of indole-3-butyric acid as a petitioned substance in organic farming
practices. This exciting approval provides farmers with an additional and valuable
tool for plant propagation and growth regulation, further enhancing the
potential for productive and environmentally friendly agricultural practices.
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In recent years, there has been a significant increase
in the demand for butyric acid in the production of biofuels and bioplastics.
This growing demand has had a profound impact on the United States butyric acid
market, shaping it into a dynamic and thriving industry. As industries strive
to find sustainable alternatives to traditional fuels and plastics, butyric
acid has emerged as a versatile and environmentally friendly solution,
revolutionizing the way we approach energy and materials.
Butyric acid plays a pivotal role in the production of
biofuels, particularly bio-butanol, which has garnered attention as a promising
renewable fuel. With its higher energy content, lower vapor pressure, and the
ability to blend seamlessly with existing fuels, bio-butanol offers a
compelling alternative to gasoline, paving the way for a greener, cleaner
future. Its versatility and compatibility make it an attractive option for
engine manufacturers and fuel providers, as it requires minimal modifications
to engines or infrastructure. The surging demand for bio-butanol, and
consequently butyric acid, can be attributed to a combination of governmental
policies and consumer preferences.
Governments worldwide have implemented renewable fuel
standards and incentivized the use of biofuels to combat climate change, reduce
greenhouse gas emissions, and diminish reliance on fossil fuels.
Simultaneously, consumers are becoming increasingly conscious of their carbon
footprint and actively seeking cleaner, more sustainable alternatives. The
convergence of these factors has created a compelling market for butyric acid,
driving its production and adoption in various industries.
Furthermore, the rise of bioplastics, derived from
renewable sources, has gained significant momentum as a sustainable alternative
to conventional plastics. Butyric acid serves as a crucial building block in
the production of various bioplastics, such as polybutyrate (PBS) and
polyhydroxybutyrate (PHB). These bioplastics offer comparable properties and
functionalities to traditional plastics but are biodegradable and have a lower
environmental impact, addressing the mounting concerns of plastic waste and pollution.
The demand for bioplastics is fueled by a combination of factors, including
increasing environmental awareness, government regulations promoting
sustainable practices, and growing consumer demand for eco-friendly products.
Industries spanning packaging, automotive, and consumer goods are actively
incorporating bioplastics into their manufacturing processes, driving the
demand for butyric acid, and propelling the industry forward.
In summary, the surging demand for butyric acid in the
production of biofuels and bioplastics is transforming the landscape of the
United States market. As the world shifts towards sustainable practices,
butyric acid has emerged as a vital component in the quest for greener energy
and materials. Its role in biofuels and bioplastics opens up new possibilities
for a more sustainable and environmentally conscious future.
The United States Butyric Acid Market is segmented
into type, end use, distribution channel, regional distribution, and company.
Based on its type, the non-synthetic segment held the
market share in the forecast period. The increasing consumer preference for
eco-friendly and sustainable products has been a key factor driving the market
growth for butyric acid. Bio-based butyric acid, which is derived from
renewable resources like corn husk, sugar, and other natural sources, has
gained significant traction in the market. The easy availability of these raw
materials and their relatively low cost have further fueled the growth of the
bio-based segment. In particular, the food & beverage industry has embraced
the use of bio-based butyric acids for various applications such as food
additives, animal feed, and flavoring agents, among others.
On the other hand, the synthetic type of segment is
also expected to witness substantial growth during the forecast period.
Synthetic butyric acid is produced through chemical synthesis, specifically the
oxidation of butyraldehyde. Butyraldehyde, in turn, is derived from propylene
obtained through the oxo synthesis process, which involves the extraction of
crude oil. This growing market for butyric acid demonstrates the industry's
shift towards sustainable and environmentally friendly solutions, while also
highlighting the versatility and wide-ranging applications of this compound.
Based on region, Midwest segment is expected to grow
during the forecast period.
The Midwest region boasts a robust presence of
pharmaceutical and food companies that rely on the versatile properties of
butyric acid for their formulations and products. This region's demand serves
as a driving force behind the consumption of butyric acid, establishing a
strong foothold for its market growth. However, it is important to acknowledge
that the prominence of the Midwest may experience fluctuations over time as
market dynamics evolve.
Other regions within the United States, such as the
vibrant West Coast or the bustling Northeast, may also emerge as significant
players in the butyric acid market. Their involvement will be influenced by
industry developments, strategic investments, and the pursuit of innovation. By
keeping a watchful eye on these evolving trends and regional dynamics, we can
gain a comprehensive understanding of the broader landscape shaping the butyric
acid industry in the United States.
Major companies operating in United States Butyric
Acid Market are:
- Eastman Chemical Company
- Kemin Industries, Inc.
- Spectrum Chemicals
- Vigon International, LLC
- Blue Marble Biomaterials LLC
(Socati Corporation)
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“Growing application of butyric acid in various end
user industries are key drivers of the butyric acid market. Growth in
competitive landscape and presence of well-established companies in the market
who are dedicated to enhance their productivity of butyric acid with every
passing year are anticipated to register an impressive growth to United States
Butyric Acid Market in the forecast period.,” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based management consulting firm.
“United
States Butyric Acid Market By Type
(Synthetic, Non-Synthetic), By End Use (Animal
Feed, Chemical Intermediates, Pharmaceuticals, Food & Beverage, Others), By
Distribution Channel (Direct Sales, Direct Import,
Distributors/Suppliers/Traders), By
Region, By Competition Forecast & Opportunities, 2018-2028F”, has evaluated
the future growth potential of United States Butyric Acid Market and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in United States Butyric Acid Market.
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