Isobutyric acid, also known as 2-methylpropanoic acid, is a carboxylic acid with the chemical formula CH3CH(CH3)COOH. It is a colorless liquid with a pungent odor. Isobutyric acid is naturally occurring and can be found in various sources such as fruits, cheese, and some alcoholic beverages. It’s used in the production of various chemicals, pharmaceuticals, and perfumes. In industry, it’s employed as a precursor in the manufacture of esters, which are used as flavoring agents and fragrances. It’s also used in the synthesis of other compounds in the chemical and pharmaceutical sectors.
The isobutyric acid market is projected to grow from USD 180 million in 2023 to USD 269 million by 2028, at a CAGR of 8.3% from 2023 to 2028. Recent developments in the pharmaceutical industry, and growing demand for bio-based isobutric acid are posing opportunities for the growth of the market.
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Based on type, the synthetic isobutyric acid segment is projected to grow at a faster rate during the forecast period of 2023 to 2028, in terms of value. Synthetic isobutyric acid is derived from petroleum feedstocks. The growth of this segment can be attributed to the easy availability of raw materials and low cost of production.
Based on end-use, the pharmaceutical segment is anticipated to grow at a significantly higher rate during the forecast period of 2023 to 2028, in terms of value. Isobutyric acid can be utilized as a building block for the synthesis of different pharma intermediates. It is generally applicable as a raw material in the manufacturing of active pharmaceutical ingredients (APIs) or precursor compounds. This is further expected to boost the demand of this segment.
Based on region, Asia Pacific is projected to be the fastest-growing market for isobutyric acid during 2023 to 2028, in terms of value. China is one of the largest markets in the region, aided with large production of isobutyric acid carried out in the country. It also exports isobutyric acid to other countries as per the demand for different end-uses including pharmaceuticals or chemical intermediates. This will further drive the Asia Pacific market during the forecast period.
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Major players operating in the isobutyric acid market include OQ Chemicals GmbH (Germany), Eastman Chemical Company (US), Tokyo Chemical Industry Co., Ltd. (Japan), Snowco (China), Shanghai Aladdin Biochemical Technology Co., Ltd. (China). The companies have wide-spread manufacturing facilities with an established portfolio of isobutyric acid, global market presence, and a strong focus on strategic developments.