North America Malonic Acid Market Size, Share & Trends Analysis Report By Application (Flavor Enhancer, API, Additive, pH Controller, Precurser, and Others), By End Use, By Country and Growth Forecast, 2023 - 2030

Report Id: KBV-20873 Publication Date: March-2024 Number of Pages: 113

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Analysis of Market Size & Trends

The North America Malonic Acid Market would witness market growth of 2.6% CAGR during the forecast period (2023-2030). In the year 2019, the North America market's volume surged to 3,614.2 tonnes, showcasing a growth of 1.8% (2019-2022).

Malonic acid is a carboxylic acid with the chemical formula C3H4O4. It dissolves in ethanol and water and is a crystalline powder with a sharp taste. It is a key precursor in the synthesis of barbiturates, which are central nervous system depressants used as sedatives and anticonvulsant medications.

Additionally, it is vital in synthesizing thiamine (Vitamin B1), an essential nutrient in energy metabolism and nerve function. It produces agrochemicals and pesticides, improving crop protection and agricultural productivity.

As per the International Trade Administration (ITA), in the first half of 2022, the Canadian cosmetics industry was the fastest-growing industry in the country. In 2022, Canada's personal care and beauty sector earned around $11 billion in revenue. This and its derivatives are known for their moisturizing properties, which can benefit anti-aging skincare formulations in Canada.

The US market dominated the North America Malonic Acid Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $22,324.1 Thousands by 2030. Canada market is experiencing a CAGR of 3% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 3.6% during (2023 - 2030).

Free Valuable Insights: The Malonic Acid Market is Predict to reach $130.6 Million by 2030, at a CAGR of 2.8%

Based on Application, the market is segmented into Flavor Enhancer, API, Additive, pH Controller, Precurser, and Others. Based on End Use, the market is segmented into Food & Beverage, Pharmaceutical, Agriculture, Plastics, Paints & Coatings, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.

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