With the emergence and long-term Impact of COVID-19, the Global Malonic Acid Market is to reach USD 135.88 Million by 2030
Bizwit Research & Consulting LLP’s Recent Analysis on Global Malonic Acid Market is poised to raise up to USD 135.88 million by 2030. Malonic acid, also known as propanedioic acid, is a dicarboxylic organic acid with the chemical formula C₃H₄O₄. It is a white crystalline solid that is soluble in water and polar organic solvents. Malonic acid is widely used in various chemical processes, particularly as a starting material or building block for the synthesis of pharmaceuticals, agrochemicals, and specialty chemicals. It has two carboxylic acid groups that make it versatile for chemical reactions, including esterification, condensation, and decarboxylation reactions. The pharmaceutical industry plays a pivotal role in driving growth as it heavily relies on malonic acid as a crucial starting ingredient for synthesizing numerous medicines and drug intermediates. Additionally, the demand for malonic acid is increasing as a result of the malonic acid expanding use in the agricultural sector, where it serves as a precursor for the creation of a variety of fungicides, insecticides, and herbicides. According to the Food and Agriculture Organization of the UN, in 2020, the overall number of pesticides traded grew by 30%. Traded disinfectants, which increased from 4.0 to 8.7 million tons from 2019 to 2020 in response to the growing demand from various sectors, key market participants are actively involved in implementing sustainable production methods, undertaking expansion initiatives, and conducting development activities for malonic acid. However, the market faces challenges including a shortage of substitute raw resources, environmental issues, and unpredictability in raw material costs throughout the forecast period 2023-2030.
Geographically, the global Malonic Acid Market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA). Europe dominated the market in 2022 due to the presence of key market players, and growth of the numerous end-use industries, such as food & beverage, pharmaceutical, agricultural, plastics, paints & coatings, and others. North America is expected to grow significantly during the forecast period, due to a rise in the demand for cosmetics, food additives, and medications and growing investment in research and development activities in the region.
The global Malonic Acid Market is highly competitive owing to the presence of several key manufacturers such as Lonza Group, Wuhan Kemi-Works Chemical Co., Ltd., Shanghai Nanxiang Reagent Co., Ltd., Columbus Chemical Industries, Inc., TATEYAMA KASEI co., Ltd. , Trace Zero LLC, and others.
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Key findings of the study suggest:
- Global Malonic Acid Market is anticipated to grow with a healthy growth rate of more than 2.9% over the forecast period 2023-2030.
- In the End use segment, food & beverage emerged as the leading market segment in 2022.
- Europe is anticipated to drive regional growth owing to a rising focus on sustainable and eco-friendly chemical processes.
- North America is expected to grow at a high CAGR during 2023-2030.
Bizwit Research & Consulting has considered the following segments for the study:
By Application:
- Flavor Enhancer
- API
- Additive
- pH Controller
- Precurser
- Other Applications
By End Use:
- Food & Beverage
- Pharmaceutical
- Agriculture
- Plastics
- Paints & Coatings
- Other
Regional Outlook
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Korea
- Australia
- RoAPAC
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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Bizwit Research & Consulting LLP is a global provider of business intelligence & consulting services. The company has a strong primary base of key industry leaders along with the chain of industry analysts to analyze the market trends and its future impact in order to estimates and forecast different business segments and markets. Bizwit incorporate big data, expert analysis, and huge industry database to deliver client focused business consulting reports. Our analysts perform unbiased measurement and assessment of market opportunities to comprehend detailed market forecast. Our team of key opinion leaders evaluates the market size, growth prospects, end-use, applications, value & supply chain and top vendors in the industry to help the clients to take conversant business decisions without any vague assumptions.
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