Top 5 Vendors in the Carboxylic Acids Market from 2017 to 2021: Technavio

LONDON–(BUSINESS WIRE)–#Research—Technavio
has announced the top five leading vendors in their recent global
carboxylic acids market report. This research report also
lists eight other prominent vendors that are expected to impact the
market during the forecast period.

The global
carboxylic acids market is driven by many factors such as the growth
of the global vinyl acetate monomer (VAM) market. The demand for VAMs is
growing mainly due to the rising demand for polymer products
manufactured using VAM. In 2016, APAC accounted for the largest share of
the global carboxylic acids market both in terms of production and
consumption. The growing use of carboxylic acids as animal feed and food
preservative is also one of the major factors contributing to the market
growth.

Competitive vendor landscape

According to the report, the global carboxylic acids market is highly
fragmented in terms of product types and its scope for use in a wide
range of applications. There are many vendors in the market because of
which the key vendors, accounted for less than 25% of the total market
share in 2016.

“With an annual production of more than 150,000 MT, BASF accounted
for a market share of 3 5.71% by volume in the global propionic acid
market. There is no inadequacy in the production of carboxylic acids
globally as many vendors are producing at least one type of carboxylic
acid,” says Hitesh Bhatia, a lead specialty
chemicals research analyst from Technavio.

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Top five carboxylic acids market vendors

BASF

BASF offers 2-ethylhexanoic acid, formic acid, mandelic acid, and
propionic acid. With the establishment of a production unit in Nanjing,
the company has become a major supplier to China, India, and Taiwan.
Apart from the UK, Germany is the largest consumer of propionic acid
produced by BASF.

Celanese Corporation

Celanese Corporation is a global technology and specialty materials
company. It is one of the largest producers of acetyl products that are
the major intermediate chemicals used in many industries. It is also the
largest producer of high-performance polymers.

Eastman Chemical Company

Eastman Chemical Company is a specialty chemicals company. It
manufactures and markets chemicals, plastics, and fibers. It offers,
adhesives, coatings, and specialty plastics products. It is one of the
major suppliers of cellulose acetate fibers and polyethylene
terephthalate (PET) polymers for the packaging industry.

Perstorp Holdings

Perstorp Holdings is controlled by French Equity fund partners since
2005. The company has a diversified product portfolio serving segments,
such as construction, engineering, agriculture products, and others. It
reported annual revenue of SEK2,834 million (USD 323.07 million) in 2016.

The Dow Chemical Company

The Dow Chemical Company offers solutions for clean water, increased
agricultural productivity, and clean energy generation and conservation.
Its portfolio includes specialty chemicals, advanced materials, and
agro-sciences.

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