The global market for carboxylic acid is expected to
grow at a steady pace over the next six years. Some of the major factors
driving this market include the growth of the global food and beverage industry
and the growing demand for carboxylic acid in the pharmaceutical industry. Acetic
acid is widely used as vinegar in food applications, and sodium salts of some
carboxylic acids are used as food preservatives. The growing demand for
packaged food due to the changing lifestyle of consumers is acting as one the
major boosting forces for the global market. Carboxylic acid is used for
manufacturing soaps in the consumer goods industry and is also widely used in
cosmetics and specialty plasticizers for cosmetic packaging.
Carboxylic
acids are organic acids which are widely used in various end-use industries
such as consumer goods, food and beverage, pharmaceuticals, and chemicals. The
rapid industrialization, primarily in the emerging economies, is one of the
major factors driving the demand for carboxylic acid at the global level.
Finding new applications for various carboxylic acids
holds immense opportunities for the market players. Germany based OXEA is
the leading producer of carboxylic acids in the world. Due to continued growth
in demand for carboxylic acid, the company is constantly increasing its
capacity. In 2011, it built a new unit for production in Oberhausen which
augmented their carboxylic acids’ production capacity by 20%. OXEA is
increasing its capacity, primarily due to new applications of carboxylic acids
such as their use as energy efficient lubricant esters in refrigerators and air
conditioners. OXEA is building another carboxylic acid plant which is expected
to start in the first quarter of 2013. The constant capacity addition is
expected to help the company increase its lead in the global carboxylic acid
market in the near future.
This research report analyzes this market depending on
its market segments, major geographies, and current market trends. Geographies
analyzed under this research report include
- North
America
- Asia
Pacific
- Europe
- Rest
of the World
This report provides comprehensive analysis
of
Market growth drivers
Factors limiting market growth
Current market trends
Market structure
Market projections for upcoming years
This report is a complete study of current trends in
the market, industry growth drivers, and restraints. It provides market
projections for the coming years. It includes analysis of recent developments
in technology, Porter’s five force model analysis and detailed profiles of top
industry players. The report also includes a review of micro and macro factors
essential for the existing market players and new entrants along with detailed
value chain analysis.
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The market size of carboxylic acid is expected to grow in 2016 the chemical industry industry market has grown .
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