Global 3-Hydroxypropionic Acid Market Size showed crucial growth in the recent years and is anticipated to witness a steep rise by generating an estimated revenue of US$ xx.xx over the forecast period. According to latest study conducted by our analysts and industry experts, the global market is expected to grow at a CAGR of xx.xx% during the forecast period that is 2017-2025 owing to increasing demand from end-user application such as Construction, Adhesives & Sealants, Paints & Coatings, Others. The Asia Pacific 3-hydroxypropionic acid market is expected to have the dominating market share in the global market, primarily contributed by China.   

Global Market Growth Opportunities, By End-Use Industry (Revenue, Growth) 2017-2025

3-hydroxypropionic acid is biodegradable polymer polyester which is manufactured by controlling aspects of ring-opening polymerization, along with their commercial availability. Since the product is derived from natural sources, it is considered as bio-renewable. 3-hydroxypropionic acid is majorly used for the production of many chemicals, such as acrylates, which find major applications in paints & coatings, fabrics, adhesives, etc. Depletion of petroleum reserves, along with the deterioration of environment have increased the demand for bio-based products as an alternative to synthetic chemical products, which in turn will in turn drive the 3-hydroxypropionic acid market.

Market Dynamics

Increasing demand for acrylates from the end-use industries such as paints & coatings, fabrics, and adhesives will significantly drive the 3-hydroxypropionic acid market over the forecast period. Acrylates find major applications in manufacturing adhesives, paints, and various water-based emulsions. The demand for adhesives is expected to rise on account of increasing applications in building & construction. Moreover, the demand is further expected to grow on account of the increasing demand for eco-friendly adhesives. Increasing construction activities in the Eastern part of Europe, along with some parts of the Asia Pacific region will significantly enhance the demand for acrylates, which triggers the need for 3-hydroxypropionic acid over the forecast period. Additionally, bio-based polymers are witnessing huge demand, as they are completely eco-friendly. This will further act as an additional factor to the growth of 3-hydroxypropionic acid market over the projected period.

The global 3-hydroxypropionic acid market is expected to restrain due to the lower usage among some developing economies of Asia Pacific, Middle East, Africa, and Europe. Many of the manufacturers operating in the polymer production sector, are highly using synthetic polymers for the production of acrylates. Lesser adoption rates, along with the lack of production capacity are some of the major factors restricting the growth of 3-hydroxypropionic acid market over the projected period.

Moreover, due to the lack of availability of proper resources, the prices of 3-hydroxypropionic acid have gone up. At present, average price per 10 gm is in between US$ 110 to US$ 130. High product prices will restrain the acrylate manufacturers to choose synthetic polymers, as they are cheap compared to biopolymers.

Segment Analysis

By form, the global 3-hydroxypropionic acid market has been segmented into liquid, and powder. Powder-based 3-hydroxypropionic acid is expected to have the prime market share, owing to increasing consumption in the manufacture of acrylates for various adhesives such as bio-adhesives, wood adhesives, etc.

Region Analysis

The global 3-hydroxypropionic market is divided into regions that are North America - U.S, Canada, Other) (Asia-Pacific -India, Japan, China, Australia, Other) (Europe - UK, Russia, France, Brazil, Other) (Middle East and Africa. Every region analysis details in sense of growth, revenue, volume, challenges, and opportunities with the regional and global key players. Asia Pacific 3-hydroxypropionic acid market is expected to have the dominating market share in the global market, primarily contributed by China. Due to the presence of large number of manufacturers, coupled with increasing trade activities from China will significantly attribute to the dominant market share of Asia Pacific region.

Global 3-Hydroxypropionic Acid Market Size, Share Analysis By Region 2017

Europe 3-hydroxypropionic acid market is expected to grow at a notable CAGR over the forecast period, owing to increasing construction activities in the Eastern Europe region. Moreover, there is a presence of large number of paints & coatings manufacturers in the developed economies of Europe such as Germany, France, etc.

Global 3-Hydroxypropionic Acid Market Study Objective

1. To forecast the market size of 3-hydroxypropionic acid market, along with describing and defining the market, in terms of volume and revenue.

2. Market analysis and forecast of 3-hydroxypropionic acid market on the basis of region, substrate and application or end-use industry.

3. To analyze and elaborate significant factors that will have major impact on the growth of 3-hydroxypropionic acid market, such as drivers, restraints, challenges and opportunities.

4. Regional analysis of 3-hydroxypropionic acid market, to induce market size of five global major regions, which include, Europe, North America, South America, Middle East & Africa and Asia Pacific.

5. Strategic analysis of micromarkets, in terms of individual prospects, opportunities, growth trends and their involvement in overall market.

6. To provide detailed analysis of competitive and strategic developments in the 3-hydroxypropionic acid market like new product launch, partnership & agreement, investment & expansion, and company merger & acquisitions.

7. Analysis of market opportunities for stakeholders, in order to provide a competitive landscape for global market players.

8. To profile major market players, and to analyze their market shares and essential competencies comprehensively.

Bottom-up and top-down are two main approaches that were taken into account to anticipate and validate the market size of 3-hydroxypropionic acid market, and to reach the anticipated market size of several dependent submarkets. The research and study involved massive utilization of secondary data sources, several directories, private and government websites, and authentic databases, to collect or gather market-oriented as well as technical information for the study of 3-hydroxypropionic acid market commercially.

Key Players

The global market is highly consolidated by the presence of very few players. Some of the manufacturers include ShanDong Fine Chemical, Hangzhou Dayang Chemical, Xiamen Hisunny Chemical, Shanxi Jinjin Chemical Co., Ltd., Apollo Scientific, and 3B Scientific Corporation among several other small and medium scale players.

The manufacturers in this market are highly consolidated in the Asia Pacific region. Due to this, the trading activities from countries such as China are increasing on a rapid scale. For instance, according to some studies, more than majority of the volume traded globally is in very small quantities, majorly for research purposes or laboratory studies.

Global 3-Hydroxypropionic Acid Market Study Report Offer You!

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