HOME › Research Insight › The Key Market Players Have Adopted Strategies Such as Acquisitions, Expansions, Agreements, Collaborations, Joint Ventures, Partnerships in Organic Acids Market
The Key Market Players Have Adopted Strategies Such as Acquisitions, Expansions, Agreements, Collaborations, Joint Ventures, Partnerships in Organic Acids Market
The organic acids market is projected to grow at a CAGR of 6.0% from 2016 to 2021. The market is driven by factors such as wide areas of application across various industries, especially the growing F&B sector, and R&D investments & technological innovations such as micro-encapsulation. The high growth potential in the Asian countries and untapped regions of the Latin American and African regions provide new growth opportunities for market players.
The key market players have adopted strategies such as acquisitions, expansions, agreements/collaborations/joint ventures/partnerships, and new product/service launches, of business operations to meet the growing demand for organic acids. Companies such as the Dow Chemicals Company (U.S.), Eastman Chemicals Company (U.S.), and Calanese Corporation (U.S.) have largely adopted strategies such as investments and expansions to expand their facilities and production capacities, to increase their capital, and to cater to the needs of the industry.
Leading players have also been focusing on strengthening their strategic positions by various joint ventures, collaborations, and agreements with other active players and regional players in the field of organic acids. The core strength of the key players in this market is to cater to the growing needs of organic acid applications in various areas of food, pharma, personal care, animal nutrition, and other industries. It also focuses on creating a strong geographical network and supply chain. They are strategically located, and have entered into distribution agreements with regional players to ensure a cost-effective efficient supply chain.
Companies who made strategic partnerships/agreements/collaborations are Myriant Corporation (U.S.), Eastman Chemical Company (U.S.), and Tate & Lyle Plc (U.K.). In December 2014, Myriant Corporation (U.S.) signed an agreement with UPC (Taiwan) and Soljitz Corporation (Taiwan) to promote bio-succinic acid-based plasticizers. The company, along with Azelis Group (Belgium), signed a distribution agreement for Myriantís bio-succinic acid to target customers in the industrial and base chemicals markets in September 2014.
BASF SE (Germany) is also one of the leading players in the organic acids market. In March 2016, it entered into a joint venture with Avantium (The Netherlands) for the manufacturing as well as marketing of furandicarboxylic acid (FDCA). It helped the company to develop the technology for industrial applications. In November 2015, BASF opened a new facility for producing formic acid for customers in North America and South America. In October 2012, it also set up a new production plant in Louisiana, U.S. for the manufacturing of formic acid, having an annual capacity of 50,000 tons. It will help the company in better serving the North and South American markets.
Organic Acids Market by Type (Acetic Acid, Citric Acid, Formic Acid, Lactic Acid, Propionic Acid, Fumaric Acid & Others), Source (Biomass, Molasses, Starch & Chemical synthesis), Application (Industrial, Food & Feed), & by Region - Global Trend & Forecast to 2021
Markets and Markets
UNIT no 802, Tower no. 7, SEZ
Magarpatta city, Hadapsar
Pune, Maharashtra 411013, India