Report Code: A15593 | Nov 2023 | Pages: NA | ||
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Hydroxyisobutyric Acid Market
Request Now !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.
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Hydroxyisobutyric Acid Market Report Highlights
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Key Market Players | Xinan Chem, Aldlab Chemicals, Mitsubishi Gas Chemical, Alfa Chemistry, Bide Pharmatech, AK Scientific, Ark Pharm, ATOMOLE SCIENTIFIC, Accela ChemBio, Thermo Fisher Scientific, Nippoh Chemicals, American Custom Chemical |
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