Pune, India -- (SBWIRE) -- 08/23/2018 -- Expanding consumption of cosmetics and personal care to promote growth in the carboxylic acid market over 2018 to 2024

Carboxylic acids are organic acids containing the carboxyl group (-COOH). Demand for intermediates manufactured from carboxylic acid is rising and due to this it is predictable to enhancement the market for these acids. Skin care products, perfumes and deodorants, hair care products, and Beauty products include maximum share of the personal care products. And therefore, raising consciousness about body care and beauty awareness is the reason for the growth of the cosmetics and personal care industry and this will help the carboxylic acid market grow steadily.

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Increasing demand in the animal feed additives industry as growth promoters is expected to direct the growth of the global carboxylic acid market in the next 6 years. Formic acid and propionic acid (a part of carboxylic acid) prevent the growth of salmonella that contaminate the food and causes diseases to animals and humans, and therefore; animal feed industry is observing a steady gains which results in growing consumption demand for animal products such as leather, milk, wool, meat and so on. Furthermore, the demand for carboxylic acid market can be hampered by the accessibility of natural and organic substitutes which are used as growth promoters in the animal feed additives market. Antimicrobials, amino acids, nutraceuticals and so on are slowly acquiring importance in the market and this act as a threat to the global carboxylic acid market growth.

Asia Pacific has dominated the growth in carboxylic acid market

Asia Pacific region has dominated the growth in carboxylic acid market. Hetal Patel a research analyst at Infinium Global Research quoted that the growth in the Asia-Pacific market for carboxylic acid market is due to increasing industries have enhanced demand for the compound and is expected to continue over next 6 years. China is one of the major markets in the region owing to growth in food and beverages, textile and consumer goods industries. Furthermore, upsurge in production capacities of plastic and lubricant industries, pharmaceutical in India, Indonesia, South Korea, and China is projected to enhancement demand for carboxylic acid in near future. Additionally, the US market is projected to witness high demand for carboxylic acid which is largely used in drug formulations such as anticoagulants, cholesterol lowering satins, antibiotics, and anti-inflammatory drugs. Moreover, upsurge in geriatric population is driving pharmaceuticals segment leading to growth of carboxylic acid market.

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Mergers and Acquisitions to remain key expansion strategies of the leading players in the carboxylic acid market from 2018-2024

The Dow Chemical Company ("Dow") and E.I. du Pont de Nemours & Company ("DuPont"), announced that they had successfully completed their planned merger to form Dow DuPont.  Dow Pharma & Food Solutions, a business unit of The Dow Chemical Company announced the official global launch and commercial availability of ETHOCEL™ High Productivity. Dow Chemical Company has announced the launch of its newly built innovation centre located within the King Abdullah University of Science and Technology (Kaust) premises in Jeddah. Located in Kaust's Research and Technology Park, the Dow Innovation Centre will support the company's ramped-up research efforts to address critical needs in the kingdom and the region including increasing energy efficiency and minimizing environmental footprint.  The companies in the Global Carboxylic Acid Market such as OWEA, BASF SE, Celanese Corporation, The Dow Chemical Company, LyondellBasell Industries N.V., Eastman Chemical Company, Finetech Industry Limited, Perstorp Holdings AB, Jiangsu Sopo Co. Ltd., Hanwha Chemical Corporation and others

Major Key Players mentioned in this Premium Report

The report provides profiles of the companies in the Global Carboxylic Acid Market such as OWEA, BASF SE, Celanese Corporation, The Dow Chemical Company, LyondellBasell Industries N.V., Eastman Chemical Company, Finetech Industry Limited, Perstorp Holdings AB, Jiangsu Sopo Co. Ltd., Hanwha Chemical Corporation and others.

Report Highlights:

The report provides deep insights on demand forecasts, market trends and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the global carboxylic acid market. Moreover, IGR-Growth Matrix analysis given in the report brings an insight on the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of carboxylic acid market.

Moreover, the study highlights current market trends and provides forecast from 2017 to 2023. We also have highlighted future trends in the carboxylic acid market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight on the market share of the leading players. Additionally, the analysis highlights rise and fall in the market shares of the key players in the market. This report will help manufacturers, suppliers and distributors of the carboxylic acid market to understand the present and future trends in this market and formulate their strategies accordingly.