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Market Leader - Butyric Acid Market
The butyric acid industry is a rapidly evolving market. Currently, the butyric acid market is dominated by few key players, such as The Eastman Chemical Company (U.S.), OXEA GmbH (Germany), Perstorp Holding AB (Germany), Tokyo Chemical Industry Co. Ltd. (Japan) among others. These companies are considered as leaders in the butyric acid market.
Substantial investments are being made in the past few years by key companies, such as Eastman Chemical Company (U.S.), OXEA GmbH (Germany), Perstorp Holding AB (Germany), and Blue Marble Biomaterials (U.S.), among others, to address the future demand of butyric acid arising from the growing animal feed industries.
The companies are majorly focused on research and development for new production techniques, capacity expansion of existing facilities, and installation of new facilities to achieve better performance qualities, economies of scale, product innovation, and simultaneously address the increasing demand of butyric acid.
Expansions & investments and new product launches are considered as key growth strategies adopted by key players in the recent past. Eastman Chemical Company (U.S.) and OXEA GmbH (Germany) are major companies that have taken part in expansion projects. In 2013, Eastman Chemical Company (U.S.), the largest producer of butyric acid in the world, planned to grow its carboxylic acid plants in Kingsport, Tennessee and Longview, Texas. The Kingsport plant capacity would increase by 50 million pounds. It has also built a new butyric acid production facility in Tennessee which would add capacity of 11 million pounds. In 2013, OXEA GmbH (Germany) opened a new carboxylic acid plant in Germany. In order to expand its scope for butyric acid, it opened a new ester unit in Germany.
New product development was another strategy of growth in the butyric acid industry. Perstorp Holding AB (Germany) was the most active player in producing new products. In 2014, it launched two products, ProPhorce™ SR and ProSid™ MI 700 for the animal feed industry. It also introduced a product ProPhorce™ SR butyric acid which had no foul odour, overcoming a major drawback of butyric acid. This development took place in 2012. OXEA GmbH (Germany) also launched new products in 2010, AF grade Butyric Acid and three esters.
Butyric Acid Market by Application (Animal Feed, Chemicals Intermediate, Food & Flavors, Pharmaceuticals, Perfumes, Others), by Type (Synthetic Butyric Acid, Renewable Butyric Acid) by Geography (APAC, North America, Europe, Row) - Global Analysis and Forecast to 2020
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