The Asia-Pacific Region to Hold a Significant Market Share in the Valeric Acid Industry, Owing to the Rising Demand from the Food and Cosmetics Industries
Region-wise, the Asia-Pacific region is expected to represent a large share of the market of valeric acid globally, with China holding a major share in demand. North America is also expected to account for a major share in the valeric acid industry. This can be attributed to the constant demand from the food and cosmetics industries. Further, Europe has witnessed an increase in the demand for valeric acid during the recent years. The laboratory, research, and development work has also witnessed a spurt in the consumption of valeric acid. In addition, the manufacturers are focusing on the extension of application areas for the product and identifying its use in various niche applications. Regions, such as the Middle East and Africa and Latin America, are expected to hold small shares in terms of volume consumption.
Valeric Acid: Market Segmentation
Valeric acid, variously known as pentanoic acid, refers to a transparent, oily fluid with an unpleasant odour, which must be handled with care owing to its highly corrosive nature. It acts as an intermediate for the manufacturing of flavours and perfumes and agricultural chemicals like synthetic lubricants, pesticides, and pharmaceuticals.On the basis of application, the market is divided into:
- API Intermediates
- Flavours and Perfumes
- Agricultural Chemical
- Plasticiser
- Food Additives
- Others
The regional markets for the product include:
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East and Africa
Growing Demand from the End Use Industries to Aid the Market Growth of Valeric Acid
The market for valeric acid is being driven by the growing demand from the end use industries such as cosmetics and flavours and perfumes. The flourishing food and beverage industry is also aiding the market growth as some of the esters of valeric acid have a fruity odour, which can be used as a food additive. The product is also being used in agricultural chemicals, which is expected to aid the market growth over the forecast period. However, the market may be hindered by the use of alternatives like butyric acid as butyric acid has similar properties.Key Industry Players in the Global Valeric Acid Market
The report gives a detailed analysis of the following key players in the global valeric acid market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:- Dow Chemical Company
- Perstorp Group
- Otto Chemie Pvt. Ltd.
- Yufeng International Co., Ltd
- Others
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Companies Mentioned
The key companies featured in this Valeric Acid market report include:- Dow Chemical Company
- Perstorp Group
- Otto Chemie Pvt. Ltd.
- Yufeng International Co., Ltd