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How big is APAC organic acid market?

APAC organic acid market

Chemicals | Sep, 2017

An organic acid is an organic compound having acidic properties. Carboxylic acids are the most common organic acids and their acidity is related to their carboxyl group i.e. COOH

Global market intelligence and consulting major TechSci Research in its latest market research report titled “APAC Organic Acid Market By Type (Acetic Acid, Citric Acid, Formic Acid, Lactic Acid & Others), By End Use (Industrial, Food & Beverage, Pharmaceutical, Personal Care, & Others), By Country, Competition Forecast and Opportunities, 2012 – 2026”, mentions that the organic acid market in APAC was registered at USD 3.1 billion in 2016.

After intensive primary and secondary research studies, TechSci Research has concluded that the APAC organic acid market will achieve USD 5.8 billion in the next 10 years. That means the APAC organic acid market is forecasted to clock a CAGR to the tune of 6.34 per cent from 2016 to 2026.

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What drives growth in organic acid market in APAC?

Growing demand for organic acids in the Asia Pacific region is mainly due to increasing urbanization and industrialization in major economies such as China and India.

Apart from this trend, the organic acid market is enjoying favourable policies from the governments. A number of incentives are also been provided to the companies producing organic acids.

On the other hand, organic acids are fast coming up as game changers given their properties and wider areas of applications

Applications of organic acids

Organic acids are much less reactive in nature and that is why they are used at high temperatures on metal related applications. Due to their properties which can dissolve iron oxides, organic acids like citric acid and oxalic acid are widely used for removing rust. Due to their soft properties, the possibilities of damage to the metals on which they are applied are quite minimal.

Organic acids are used in food as well. Owing to their properties that prevent growth of bacteria like Escherichia coli and Salmonella, these acids are used in food preservation across the world.

There are a number of studies going on over the potential usage of organic acids in several areas. Recently, an experiment was done on plants and it was found that the plants treated with acidic acids can survive droughts. Once confirmed, this revelation could be a major breakthrough revolutionizing the global organic acid industry.

Major players in APAC organic acid market

Jiangsu Sopo Chemical Co. Ltd., Henan Jindan Lactic Acid Technology Co., Ltd., Feichang Acid Chemicals Co., Ltd., Shandong Liaocheng Luxi Chemical Co., Ltd. and Fuso chemical Co. are among the major companies operating in APAC organic acid market.

Globally, Archer Daniels Midland, BASF SE, BP Plc, BioAmber Inc, Cargill Inc, Celanese Corporation, Corbion NV and DOW Chemical are the major organic acid manufacturers.

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