“Global Malonic Acid Market to reach a market value of USD 130.6 Million by 2030 growing at a CAGR of 2.8%”
The Global Malonic Acid Market size is expected to reach $130.6 million by 2030, rising at a market growth of 2.8% CAGR during the forecast period. In the year 2022, the market attained a volume of 16,983.9 tonnes, experiencing a growth of 1.9% (2019-2022).
Malonic acid derivatives contribute to the synthesis of plant growth regulators. Therefore, the agriculture segment acquired 17.5% revenue share in 2022. These regulators enhance or inhibit specific physiological processes in plants, promoting optimal growth and development. Certain its derivatives are used as soil conditioners in agriculture. They contribute to soil health by improving structure, water retention, and nutrient availability, leading to better crop growth.
Exploring renewable feedstocks helps reduce the industry's dependence on fossil fuels for its production. This shift contributes to mitigating the environmental impact associated with traditional chemical processes. Utilizing renewable feedstocks in its production typically results in a lower carbon footprint than processes relying on non-renewable resources.
Additionally, the ability of this to enhance the feel and spread ability of formulations makes it desirable to create cosmetic emulsions. As per the report by the National Library of Medicine updated in 2022, the ecologically based cosmetics industry is projected to reach $5.25 billion by 2029, expanding at a compound annual growth rate of 5.18% from 2019 to 2029. The global cosmetics industry is approximately third in the sector with the fastest growth rate.
However, the ongoing operational costs of running its production plant, including energy consumption, maintenance, and labor, contribute to the overall production costs. Additionally, the cost and availability of raw materials used to synthesize it can impact its economic viability. The production processes for it can be energy-intensive, contributing to higher operational costs. Energy efficiency and the environmental impact of production processes are increasingly important considerations for manufacturers and consumers. Thus, production costs and process complexity can slow down the growth of the market.
By application, the market is categorized into flavor enhancer, API, additive, pH controller, precurser, and others. In 2022, the flavor enhancer segment held 27.8% revenue share in the market. It contributes to sweetness and tartness, making it suitable for enhancing the flavor profile of a broad range of food and beverage products. Its ability to provide a balanced blend of sweet and sour notes is valuable in formulations. The flavor enhancer properties of it make it a suitable ingredient in producing soft drinks and carbonated beverages.
Based on end-use, the market is classified into food & beverage, pharmaceutical, agriculture, plastics, paints & coatings, and others. The pharmaceutical segment garnered 22.5% revenue share in the market in 2022. The chemical versatility of this makes it valuable in medicinal chemistry. It introduces specific chemical functionalities into drug molecules, influencing their pharmacological properties. Malonic acid and its derivatives are used to synthesize antiviral and antibacterial drugs.
Free Valuable Insights: Global Malonic Acid Market size to reach USD 130.6 Million by 2030
Region-wise, the market is analysed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the Asia Pacific region acquired 27.8% revenue share in the market. The Asia Pacific region has served as a pharmaceutical manufacturing and research center. Agriculture is a significant sector in many Asia Pacific countries. With the increasing population and changing consumer preferences in the Asia Pacific, there can be an increased demand for products with enhanced taste profiles.
| Report Attribute | Details |
|---|---|
| Market size value in 2022 | USD 105.3 Million |
| Market size forecast in 2030 | USD 130.6 Million |
| Base Year | 2022 |
| Historical Period | 2019 to 2021 |
| Forecast Period | 2023 to 2030 |
| Revenue Growth Rate | CAGR of 2.8% from 2023 to 2030 |
| Number of Pages | 326 |
| Number of Table | 630 |
| Quantitative Data | Volume in Tonnes, Revenue in USD Millions, and CAGR from 2019 to 2030 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Application, End-Use, Region |
| Country scope |
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| Companies Included | Trace Zero LLC, Lygos Inc., Wuhan Amino Acid Bio-Chemical Co., Ltd., Hefei TNJ Chemical Industry Co., Ltd., Hebei jingye group., Shandong Lixing Chemical Co. Ltd., Nanjing Perlove Medical Equipment Co., Ltd., Wacker Chemie AG., Thermo Fisher Scientific, Inc., Lonza Group Ltd. |
By Application (Volume, Tonnes, USD Million, 2019-2030)
By End Use (Volume, Tonnes, USD Million, 2019-2030)
By Geography (Volume, Tonnes, USD Million, 2019-2030)
This Market size is expected to reach $130.6 million by 2030.
Expanding applications in pharmaceuticals are driving the Market in coming years, however, Production costs and process complexity restraints the growth of the Market.
Trace Zero LLC, Lygos Inc., Wuhan Amino Acid Bio-Chemical Co., Ltd., Hefei TNJ Chemical Industry Co., Ltd., Hebei jingye group., Shandong Lixing Chemical Co. Ltd., Nanjing Perlove Medical Equipment Co., Ltd., Wacker Chemie AG., Thermo Fisher Scientific, Inc., Lonza Group Ltd.
In the year 2022, the market attained a volume of 16,983.9 tonnes, experiencing a growth of 1.9% (2019-2022).
The Food & Beverage segment is leading the Market by End-Use in 2022; there by, achieving a market value of $37.8 million by 2030.
The Europe region dominated the Market by Region in 2022, and would continue to be a dominant market till 2030; there by, achieving a market value of $53.4 million by 2030.
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