Market Overview:
The global 2-hydroxypropionic acid market is expected to grow at a CAGR of 6.5% during the forecast period from 2018 to 2030. The growth in the market can be attributed to the increasing demand for 2-hydroxypropionic acid from various applications such as PLA, pharmaceuticals, home & personal care, industrial applications, food & beverage and others. In terms of type, the food grade segment is expected to hold a major share in the global 2-hydroxypropionic acid market during the forecast period. This can be attributed to its growing application in various end-use industries such as food & beverage and pharmaceuticals.
Product Definition:
2-hydroxypropionic acid is a ketoacid that is produced by the metabolism of certain amino acids. It has a number of important roles in the body, including the regulation of blood sugar levels and energy production.
Food Grade:
Food grade is the quality of products that are intended for human consumption and have been given the proper food safety certification. The major factor driving this market is increasing demand from end-use industries such as pharmaceuticals, nutraceuticals, cosmetics, animal feed and pet food among others. Food grade can be distinguished from industrial or laboratory grades which are used in various chemical formulations including 2-hydroxypropionic acid (HPA) which finds its application in cosmetic industry as a preservative.
Industrial Grade:
Industrial grade is a high purity form of 2-hydroxypropionic acid. It has been derived from lactic acid found in the skin and hair care products. Industrial grade can be used to produce various chemicals such as 2-hydroxypropionic acid, MEGAc, DMSO, salicylic acid and other related compounds.
Application Insights:
2-hydroxypropionic acid is used in the manufacturing of various home care and personal care products such as shampoos, soaps, shower gels/bases, conditioners and styling agents. The increasing use of 2- hydroxypropionic acid based products in hair treatment and styling has increased its consumption across several application industries.
The product plays a vital role in the formulation of pharmaceuticals including antibiotics & analgesics which are used for pain management. Furthermore, it also finds applications as an antacid or proton pump inhibitor within the gastroenteric industry which aids in reducing stomach ache caused due to heartburn or indigestion. It is commonly known to reduce gas formation caused by hydrogen ions within human stools thereby aiding digestion process among others.
Regional Analysis:
Europe was the second-largest regional market in 2017. The region is expected to witness a moderate growth rate over the forecast period owing to rising product demand from various end-use industries, such as pharmaceutical and food & beverage. Moreover, increasing R&D activities for 2HPA are also expected to drive the market in Europe over the forecast period.
Asia Pacific is projected to be one of the fastest growing markets due to rapid industrialization along with supportive government initiatives for promoting bio-based products coupled with economic growth in emerging countries like China and India which has led them being major producers of 2 hydroxypropionic acid (2HPPA) across globe.
Growth Factors:
- Increasing demand from end-use industries such as textiles, plastics, and automotive due to its properties such as corrosion resistance, thermal stability, and low toxicity.
- Growing research and development activities for the use of 2-hydroxypropionic acid in various applications including solvents, pharmaceuticals intermediates, agrochemicals intermediates etc.
- Rising awareness about the benefits of 2-hydroxypropionic acid over other organic acids among manufacturers and consumers alike
Scope Of The Report
Report Attributes
Report Details
Report Title
2-hydroxypropionic Acid Market Research Report
By Type
Food Grade, Industrial Grade, Pharmaceutical Grade
By Application
PLA, Pharmaceutical, Home & Personal Care, Industrial Applications, Food & Beverage, Others
By Companies
Corbion, Naturework, Galactic, Henan Jindan Lactic Acid Technology, COFCO Biochemical, Musashino Chemical, Wuhan Sanjiang Space Good Biotech, Shanxi Biochemical, Jungbunzlauer, Zhengzhou Tianrun, Shangdong Fullsail
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
146
Number of Tables & Figures
103
Customization Available
Yes, the report can be customized as per your need.
Global 2-hydroxypropionic Acid Market Report Segments:
The global 2-hydroxypropionic Acid market is segmented on the basis of:
Types
Food Grade, Industrial Grade, Pharmaceutical Grade
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
PLA, Pharmaceutical, Home & Personal Care, Industrial Applications, Food & Beverage, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Corbion
- Naturework
- Galactic
- Henan Jindan Lactic Acid Technology
- COFCO Biochemical
- Musashino Chemical
- Wuhan Sanjiang Space Good Biotech
- Shanxi Biochemical
- Jungbunzlauer
- Zhengzhou Tianrun
- Shangdong Fullsail
Highlights of The 2-hydroxypropionic Acid Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Food Grade
- Industrial Grade
- Pharmaceutical Grade
- By Application:
- PLA
- Pharmaceutical
- Home & Personal Care
- Industrial Applications
- Food & Beverage
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the 2-hydroxypropionic Acid Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
2-hydroxypropionic acid is a organic compound with the formula C3H6O3. It is a colorless liquid that is used in chemical synthesis and as a food additive.
Some of the major players in the 2-hydroxypropionic acid market are Corbion, Naturework, Galactic, Henan Jindan Lactic Acid Technology, COFCO Biochemical, Musashino Chemical, Wuhan Sanjiang Space Good Biotech, Shanxi Biochemical, Jungbunzlauer, Zhengzhou Tianrun, Shangdong Fullsail.
The 2-hydroxypropionic acid market is expected to grow at a compound annual growth rate of 6.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 2-hydroxypropionic Acid Market Overview 4.1 Introduction 4.1.1 Market Taxonomy 4.1.2 Market Definition 4.1.3 Macro-Economic Factors Impacting the Market Growth 4.2 2-hydroxypropionic Acid Market Dynamics 4.2.1 Market Drivers 4.2.2 Market Restraints 4.2.3 Market Opportunity 4.3 2-hydroxypropionic Acid Market - Supply Chain Analysis 4.3.1 List of Key Suppliers 4.3.2 List of Key Distributors 4.3.3 List of Key Consumers 4.4 Key Forces Shaping the 2-hydroxypropionic Acid Market 4.4.1 Bargaining Power of Suppliers 4.4.2 Bargaining Power of Buyers 4.4.3 Threat of Substitution 4.4.4 Threat of New Entrants 4.4.5 Competitive Rivalry 4.5 Global 2-hydroxypropionic Acid Market Size & Forecast, 2020-2028 4.5.1 2-hydroxypropionic Acid Market Size and Y-o-Y Growth 4.5.2 2-hydroxypropionic Acid Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Food Grade
5.2.2 Industrial Grade
5.2.3 Pharmaceutical Grade
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 PLA
6.2.2 Pharmaceutical
6.2.3 Home & Personal Care
6.2.4 Industrial Applications
6.2.5 Food & Beverage
6.2.6 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global 2-hydroxypropionic Acid Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 2-hydroxypropionic Acid Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Food Grade
9.6.2 Industrial Grade
9.6.3 Pharmaceutical Grade
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 PLA
9.10.2 Pharmaceutical
9.10.3 Home & Personal Care
9.10.4 Industrial Applications
9.10.5 Food & Beverage
9.10.6 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Food Grade
10.6.2 Industrial Grade
10.6.3 Pharmaceutical Grade
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 PLA
10.10.2 Pharmaceutical
10.10.3 Home & Personal Care
10.10.4 Industrial Applications
10.10.5 Food & Beverage
10.10.6 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Food Grade
11.6.2 Industrial Grade
11.6.3 Pharmaceutical Grade
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 PLA
11.10.2 Pharmaceutical
11.10.3 Home & Personal Care
11.10.4 Industrial Applications
11.10.5 Food & Beverage
11.10.6 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Food Grade
12.6.2 Industrial Grade
12.6.3 Pharmaceutical Grade
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 PLA
12.10.2 Pharmaceutical
12.10.3 Home & Personal Care
12.10.4 Industrial Applications
12.10.5 Food & Beverage
12.10.6 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Food Grade
13.6.2 Industrial Grade
13.6.3 Pharmaceutical Grade
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 PLA
13.10.2 Pharmaceutical
13.10.3 Home & Personal Care
13.10.4 Industrial Applications
13.10.5 Food & Beverage
13.10.6 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 2-hydroxypropionic Acid Market: Competitive Dashboard
14.2 Global 2-hydroxypropionic Acid Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Corbion
14.3.2 Naturework
14.3.3 Galactic
14.3.4 Henan Jindan Lactic Acid Technology
14.3.5 COFCO Biochemical
14.3.6 Musashino Chemical
14.3.7 Wuhan Sanjiang Space Good Biotech
14.3.8 Shanxi Biochemical
14.3.9 Jungbunzlauer
14.3.10 Zhengzhou Tianrun
14.3.11 Shangdong Fullsail