HIBA or Ace tonic acid is the common name for hydroxyisobutyric acid. Hydroxyisobutyric acid can be used to make polymers, resins, adhesives, and cosmetics. It can also be used as a thickening agent in paint, ink additives, and cosmetics, as well as an emollient and skin-conditioning agent in skin care and cosmetic products. Nowadays, industries are moving toward environmentally friendly manufacturing, and renewable biomass is being used to produce a variety of green chemicals using environmentally friendly processes. Hydroxyisobutyric acid may one day be the raw material for chemical industries that are currently reliant on petroleum. Because hydroxyisobutyric acid has antimicrobial properties, it is a key component in the production of penicillin G salt. Isochromanes, which are used in a wide range of pharmacological activities, are also made from hydroxyisobutyric acid. Hydroxyisobutyric acid is a key component in the production of polymers. Hydroxyisobutyric acid is used as a rubber processing agent, an oiling agent for textiles, a flavouring agent in the food industry, and a plastic lubricant. Hydroxyisobutyric acid is also used as an electrolyte in on-line cyclic voltammetry to detect and separate metal ions.
Polymers and other materials are now primarily made from fossil feedstock, such as petroleum-based hydrocarbons. These petroleum-based hydrocarbons can be replaced with 2-hydroxyisobutyric acid (2-HIBA). Hydroxyisobutyric Acid is divided into 50.0% HBA Solution, 98 percent HBA, and so on, depending on the product type. Electronic Materials, Pharmaceuticals, and other major applications are sub-segmented in the Hydroxyisobutyric Acid market.
COVID-19 Impact analysis
The disease has spread to nearly 100 countries around the world since the COVID-19 virus outbreak in December 2019, prompting the World Health Organization to declare it a public health emergency. The global effects of the coronavirus disease 2019 (COVID-19) are already being felt, and the 3-Hydroxybutyric Acid 3900 market will be significantly impacted in 2020. COVID-19 has the potential to have three major effects on the global economy: directly affecting production and demand, causing supply chain and market disruption, and having a financial impact on businesses and financial markets. Flight cancellations, travel bans, and quarantines; restaurants closed; all indoor events restricted; over forty countries declared states of emergency; massive supply chain slowdown; stock market volatility; falling business confidence, growing panic among the population, and uncertainty about the future have all been impacted by the COVID-19 outbreak.
Top Impacting Factors
The primary factor driving the hydroxyisobutyric acid market over the forecast period is the growing demand for sustainable chemistry around the world. The hydroxyisobutyric acid market is growing due to the increasing use of hydroxybutyric acid in the production of isochromanes, which are used in a variety of pharmacological activities. In addition, large-scale 2-HIBA biosynthesis from renewable carbon, which is replacing traditional chemistry and petrochemicals, is boosting the market for hydroxyisobutyric acid. Furthermore, technological advancements, combined with industry demand for green chemicals and clean-tech solutions, are likely to provide profitable growth opportunities for key players in the hydroxyisobutyric acid market in the coming years.
- The Hydroxyisobutyric Acid Market is divided into three categories: type, application, and region. The Global Hydroxyisobutyric Acid Market is segmented into 50 percent HBA Solution, 98 percent HBA Solution, and others based on the type. The Global Hydroxyisobutyric Acid Market is divided into Electronic Materials, Pharmaceuticals, and Other Applications.
- In terms of geography, APAC holds the largest share of the Hydroxyisobutyric Acid Market, owing to increased demand for Hydroxyisobutyric Acid in end user industries such as polymer, cosmetics, and pharmaceuticals, primarily in China and India.
- The demand for green chemicals and clean tech solutions is boosted by the need for sustainable chemistry, which encourages the industry to look for bio-based compounds, which drives the market for Hydroxyisobutyric acid. Currently, the bio-isomerization process is used for biotechnological 2-HIBA production using renewable carbon resources.
- Lack of awareness and a viable biotechnological route to Hydroxyisobutyric acid are potential market restraints. Inefficient bio hydrolysis of acetone cyanohydrin as a partially biotechnological method has been known for a long time, but recent developments such as bio oxidation of tert-butanol to 2-HIBA have been successfully carried out.
- The Asia Pacific region accounts for the majority of the global Hydroxyisobutyric Acid market, owing to increased demand for Hydroxyisobutyric Acid in end user industries such as polymer, cosmetics, and pharmaceuticals, particularly in China and India.
- Due to the significant presence of end user industries, chemical laboratories, and chemical companies in Asia Pacific, as well as government and federal agency initiatives to produce green chemicals and clean tech solutions, Europe and North America are expected to influence the market growth of Hydroxyisobutyric acid over the forecast period.
Key Benefits of the Report
- This study presents the analytical depiction of the hydroxyisobutyric acid market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the hydroxyisobutyric acid market share.
- The current market is quantitatively analyzed to highlight the hydroxyisobutyric acid market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed hydroxyisobutyric acid market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions Answered in the Hydroxyisobutyric Acid Market Report
- Who are the leading market players active in the hydroxyisobutyric acid market?
- What current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What future projections would help in taking further strategic steps?
- What is hydroxyisobutyric acid?
- What does hydroxyisobutyric acid allow organizations to achieve?
- Which technologies combine to make hydroxyisobutyric acid critical organizational asset?
- What are the current trends and predicted trends?
Hydroxyisobutyric Acid Market Report Highlights
By End-Use Industry
Key Market Players
Alfa Chemistry, Thermo Fisher Scientific, ATOMOLE SCIENTIFIC, Accela ChemBio, Mitsubishi Gas Chemical, American Custom Chemical, Xinan Chem, Nippoh Chemicals, Ark Pharm, AK Scientific, Aldlab Chemicals, Bide Pharmatech