Carboxylic Acids Market: Extensive Applications in Manufacturing of Lubricants and Agrochemicals to Catalyze Growth, TMR

The global carboxylic acids market features a fairly fragmented landscape as the top five players accounted for nearly 22.0% share in 2014, finds Transparency Market Research (TMR). Some of the leading players operating in the carboxylic acids market are Perstorp, Celanese Corporation, Finetech Industry Limited, LyondellBasell Industries N.V., BASF SE, OXEA, and The Dow Chemical Company. A large number of small players have their presence in developing and developed nations of Asia Pacific.

The market was valued at US$12.14 bn in 2014. Expanding at a CAGR of 4.9% from 2015 to 2023, the opportunities in the market is projected to reach US$18.49 bn by the end of the forecast period.

Asia Pacific with Extensive Production of Bio-Based Chemicals Offers Lucrative Growth Avenues

Regionally, the market is segmented into Europe, North America, Asia Pacific, the Middle East and Africa (MEA), and Latin America. Of these, Asia Pacific accounted for a dominant share in 2014 and is expected to rise at a significant pace over the forecast period. A major chunk of the demand for the various derivatives of carboxylic acids will come from sectors such as lubricants, food and beverages, and consumer goods.

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Based on product, the carboxylic acids is segmented into acetic, isovaleric, valeric, formic, butyric, propionic, isobutyric, citric, stearic, benzoic, and caproic acids. Of these, the acetic acid segment dominated the market and is anticipated to rise at a significant rate over the forecast period. The growth of the segment is attributed to its extensive use in the production of intermediates such as vinyl acetate monomer and acetic anhydride.

Numerous Applications in Several End-Use Industries Accentuates Growth

The carboxylic acids market is majorly driven by the wide number of applications of carboxylic acids and its derivatives in a variety of end-use industries such as textile, consumer goods, leather, chemical intermediates, and agrochemicals. The extensive application of carboxylic acids in the production of useful derivatives such as ester solvents, ester lubricants, and stearates, which have a growing number of industrial applications is expected to boost the market.

The growing use of various organic compounds acetic acid, benzoic acid, and citric acid as preservatives in the food and beverages industry has boosted the carboxylic acids market. For instance, citric acid is extensively used in enhancing flavor in beverages and as natural preservatives. In addition, the compound stearic acid has myriad applications in the manufacture of adhesives and sealants, chemical intermediates, agrochemicals, and pigments. This has given a strong impetus to the market.

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The burgeoning application of carboxylic acids such as propionic acid, butyric acid, and formic acids in the animal feed industry is expected to catalyze the market. A crucial factor providing is the commercial application of acetic acids in manufacturing vinyl acetate monomer (VAM), a primary intermediate used in a variety of polymers and resins. The growing use of VAM in the making of coatings, adhesives, paints, textiles, and films is increasingly boosting the market in the coming years. In addition, the rapidly growing use of VAM in the manufacture of ethylene vinyl alcohol, which has extensive applications in the food packaging industry, bodes well for the market.

However, the availability of natural substitutes as animal feeds and stringent governmental regulations regarding the production of petro-based carboxylic acids are the key factors likely to hinder the market to an extent. On the other hand, the use of carboxylic acid as an active ingredient in numerous common drug formulations such as anticoagulants, non-steroidal anti-inflammatory drugs, and antibiotics is expected to open up exciting opportunities in the market. Furthermore, the burgeoning demand for several bio-based personal care and cosmetic products is anticipated to open up lucrative growth avenues for market players in several developed nations.

Superabrasives (Turning, Cutting, Buffing, Drilling, Boring, Grinding) Market Research Report 2025

An abrasive is a material which molds or provides finishing to a work piece through a process which includes buffing, grinding, cutting, as well as polishing. Abrasion typically depends on the difference in the hardness of the material and the abrasive (with the latter being the harder of the two). Unlike regular abrasion where any two solid materials that repeatedly rub against each other tend to wear away, superabrasives possess the kind of hardness that enables them to stay usable for a longer period of time. On the basis of hardness, the top two superabrasives include diamond and cubic boron nitride (CBN). Industrial diamonds used as superabrasives are exceptionally hard materials. However, they display several technological limitations. For instance, when a diamond comes in contact with a ferrous alloy such as steel or a nickel superalloy, the resulting formation of carbide leads to its abrasion. Also, a diamond-containing tool can only be used at moderate temperatures a

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Lubricants refer to the organic or inorganic material primarily being use to decrease friction between two surfaces in contact. Lubricants play a key role in several industries as well as in commercial and residential sectors. One of their most common uses is in the lubrication of bearings and gears, allowing for their easy movement at high speeds, without loss in energy, prevent excessive generation of heat, or most importantly, prevent damage that would be caused otherwise. Industrial lubricants are, therefore, essential in enhancing the overall efficiency of a machine that contains moving parts in contact with one another. The global industrial lubricants market is currently expanding at a solid growth rate, driven by several factors and spearheaded by the likes of BP, Total, Chevron Corporation, ExxonMobil, and Shell. Browse Market Research Report @ http://www.transparencymarketresearch.com/industrial-lubricants-market.html What Impact has the Oil and Gas Industry Had

Rapid Prototyping Market - Rapidly Gaining Importance in Aerospace Sector, Research By 2024

Rapid prototyping is a technique in which the physical modeling of a design is done with the help of specialized machining technology. It was developed initially in the mid-1980s, the principle used in this technology is of solid modeling with the help of computer programs (i.e. CAD). Solid modeling makes use of computer aided-design (CAD) data to completely describe not just the external shape of parts or equipment, but its interior volume as well as the outside surfaces. The computer model is sliced into thin layers and the part of the product or commodity to be modelled or developed as per the requirement, is eventually fabricated by adding layers onto each other. Obtain Report Details @ http://www.transparencymarketresearch.com/rapid-prototyping-market.html The primary benefit of the system is that almost any shape can be manufactured using computerized programs. Time and money savings vary from 50% to 90% compared to conventional systems. Types of rapid prototypi

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