The global mercaptopropionic acid market is worth US$ 325.1 Million as of now and is expected to reach US$ 544.7 Million by the year 2033 at a CAGR of 5.3% between 2023 and 2033.
Mercaptopropionic Acid comes across as a kind of colorless organic compound that is highly soluble in the organic solvents. It is derived from thiourea and acrylonitrile. Dehydrogenation happens through presence of sodium hydroxide and hydrochloric acid with the above-mentioned compounds. The chemical vertical is progressing such that Mercaptopropionic Acid is getting used in several industrial applications like cement admixture, polycarboxylate, and polyvinyl chloride.
PVC stabilizers are basically used for manufacturing pipes and fittings, rigid and semi-rigid films, window profiles, coatings, wires and cables, flooring, and likewise. They get added to PVC or combined with PVC with the objective of stopping oxidation and the uncontrollable recombination resulting out of photo-oxidation. The ingredients primarily used for synthesizing PVC stabilizers are Mercaptopropionic Acid with its derivatives; which are used in the polymerization as cross-linking and chain transfer agents.
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Biochemical research is also paving the way for growth of Mercaptopropionic Acid Market. Foeniculum vulgare could be referred to as a flowering plant species belonging to carrot family. Foeniculum vulgare are commonly known as ‘fennel’, which are being used for treating a plethora of conditions affecting endocrine, reproductive, respiratory, and digestive systems.
Equal to or below 99% purity of Mercaptopropionic Acid holds the largest market share due to it being used for formulating several medicines. The major application areas are inclusive of anti-infectives, cardiovascular drugs, analgesics/painkillers, antibiotics, respiratory products, and central nervous system agents.
Pharmaceuticals vertical holds more than 60% of the market share due to increasing applications in drug formulations. At the same time, the fact that utmost care needs to be taken in the wake of side-effects like itching can’t be ignored.
Future Market Insights has walked through these findings with insights in its latest market study entitled ‘Mercaptopropionic Acid Market’. It has its team of analysts and consultants to deploy an eagle’s eye view across macros and micros.
“With growing demand for Mercaptopropionic Acid from plastic industry for PVC stabilizer, the global Mercaptopropionic Acid Market is expected to witness a stupendous growth in the near future”, says an analyst from Future Market Insights.
Key Takeaways from Mercaptopropionic Acid Market
- The Asia-Pacific leads on the back of China. The region is known for large-scale production of PVC products that drives the demand for PVC stabilizers, which, in turn, asks for Mercaptopropionic Acid. China is also home to manufacturers of around 4K API (Active Pharmaceutical Ingredients). Of late, they have been emphasizing on production and development of FPPs (finished pharmaceutical products) for serving localized markets.
- North America and Europe are expected to witness steadiness in Mercaptopropionic Acid Market in the near future with the UA, UK, France, Germany, Switzerland, The Netherlands, Belgium, Spain, Italy, and Turkey leading from the front.
Competitive Analysis
The key participants in Mercaptopropionic Acid Market include BRUNO BOCK, Penta Manufacturer, Merck KGaA, Amadis Chemical Company Ltd., Sisco Research Laboratories Pvt. Ltd., BOC Sciences, Thermo Fisher Scientific, Alfa Aesar, Santa Cruz Biotechnology, Inc., Glentham Life Sciences Ltd., Shandong Xinchang Chemical technology Co., Ltd., Sagar Life Sciences Pvt. Ltd., JSN Chemicals Ltd., Ottokemi, S.V. Enterprises, Jiangsu Xinyu Bio-Tech Co., Ltd., Parchem Fine & Specialty Chemicals, The Good Scents Company, and Tokyo Chemical Industry Co., Ltd.
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What does the Report say?
- The research study is based on purity (above 99% and below or equal to 99%), by function (chemical intermediates, reducing agents, catalyst, anti-oxidant, and likewise), and by application (pharmaceuticals, chemicals, polymer and plastics, electro-chemicals, and likewise).
- Due to chemical and pharmaceutical verticals increasingly demanding mercaptopropionic acid, the Mercaptopropionic Acid Market is expected to grow well in the forecast period.
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