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Carboxylic Acid Market

Transparency Market Research has published a new report titled “Carboxylic Acids Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023.” According to the report, the global carboxylic acids market was valued at US$ 12.14 Bn in 2014 and is anticipated to reach US$ 18.49 Bn by 2023, expanding at a CAGR of 4.9% between 2015 and 2023. In terms of volume, the global carboxylic acids market stood at 17.82 million tons in 2014.

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The market for carboxylic acids is largely driven by growth of vinyl acetate monomer (VAM) in the food packaging industry; high demand for stearic, butyric, and valeric acid in the personal care & cosmetics industry; and rising usage of organic acids as growth promoters in animal feed. However, factors such as enactment of stringent government regulations on the production of petro-based carboxylic acids and availability of organic and natural substitutes in the animal feed industry hamper market market. End-use industries such as lubricants, rubber, and agrochemicals are likely to provide immense growth opportunities to manufacturers of carboxylic acids.



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