The global mercaptopropionic acid market is projected to experience moderate growth, with a CAGR of 5.3%, from 2023 to 2033, according to the survey done by Future Market Insights. The market value is expected to increase from US$ 325.1 million in 2023 to USD 544.7 million by 2033, due to the growing worldwide demand for mercaptopropionic acid from both pharmaceutical and chemical industries.
| Attributes | Details |
|---|---|
| Market Size 2022A | US$ 308.6 million |
| Market Size 2023E | US$ 325.1 million |
| Market Size 2033F | US$ 544.7 million |
| Value CAGR (2023 to 2033) | 5.3% |
Mercaptopropionic acid is a type of colorless organic compound that has a high solubility in organic solvents. Usually, it is prepared from acrylonitrile and thiourea. The thiourea is reacted with acrylonitrile, hydrochloric acid, and sodium hydroxide solution for dehydrogenation. Formerly, mercaptopropionic acid was used as an intermediary compound in the creation of pharmaceutical fennel. With the progression of the chemical industry, mercaptopropionic acid has been used in numerous industrial applications, such as polycarboxylate, cement admixture, and polyvinyl chloride, among other applications.
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From 2018 to 2022, the market grew at a CAGR of 5.1 % as a result of the economic slowdown of 2020. Although, with the rebound in the global economy the demand for mercaptopropionic acid is still increasing owing to the high demand for medication and active pharmaceutical ingredients.
During the forecast period, the market is expected to grow at a CAGR of 5.3% as a result of a high investment of foreign companies in developing countries for API production and increasing the utilization of mercaptopropionic acid in a variety of industrial applications, including polycarboxylate, polyvinyl chloride, and cement admixture, owing to advances in the chemical industry.
Increasing demand from the plastic industry for PVC stabilizer boosting the sales of Mercaptopropionic acid in the global market
PVC Stabilisers are mainly used in the manufacture of Pipes and Fittings, Window Profiles, Rigid and semi-rigid films, wires and cables, coatings, flooring, etc. PVC stabilizers are added into PVC or in combination with one another to stop oxidation, and uncontrollable recombination caused by photo-oxidation. The primary ingredients used in the synthesis of PVC stabilizers are mercaptopropionic acid and its derivatives, which are used in polymerizations as chain transfer and cross-linking agents. These substances are helpful in formulations that are UV-curable, coupling agents, and ion exchange catalysts.
It is used as a fundamental component in the creation of PVC stabilizers. It is a clear, nearly water-white liquid with a strong odor. The high demand for PVC stabilizers is responsible for driving the market.
Surging demand from end-use industries is expected to fuel the sales in the global market
The expansion of the pharmaceutical and chemical industries globally is found to be the primary driver of the global market. Among other products, the production of polycarboxylate and polyvinyl chloride will increase demand for mercaptopropionic acid, driving the market over the forecast period. The growing commercialization of products in developed countries and rising investments in biochemical research are driving the growth of the market. Foeniculum vulgare is a flowering plant species in the carrot family. Foeniculum vulgare Mill commonly known as fennel and has been used to treat a variety of conditions affecting the reproductive, endocrine, digestive, and respiratory systems. Mercaptopropionic acid is used as a pharmaceutical fennel to treat different diseases. The high demand from end users is lead to the high demand in the global market.
Principal Consultant
Below or equal to 99% purity products have high demand from end-use segments
Below or equal to 99% purity of MPA holds prominent shares in the market. Below or equal to 99% MPA product type segment is growing at a CAGR of 5.8%. A purity of less than 99% is a type of Pharmaceutical Ingredient that consists of active pharmaceutical ingredients (APIs). Purity of less than 99% of products is used in the formulation of various medicines. They enhance the quality and efficacy of the final product by providing optimum performance.
The key application areas for purity less than 99% include anti-infectives, antibiotics, analgesics/painkillers, cardiovascular drugs, central nervous system agents, and respiratory products. The below or equal to 99% purity segment is expected to experience rapid growth during the forecast period.
In 2022 the global market was dominated by the pharmaceutical industry which accounted for over 60% of the overall demand owing to high usage as an active pharmaceutical ingredient (API) in drug formulations. The pharmaceutical segment is expected to show the fastest growth rate with a CAGR of 5.9%.
Pharmaceutical Industry is an ever-growing industry. With the growing population, changing lifestyle, and surge in chronic disease cases, thus the demand for pharmaceutical drugs is expected to remain unchanged. This in turn is expected to favor market growth.
China market provides high growth opportunities for manufacturers
Based on countries, China dominates the overall market with more than 22% value shares. China is one of the largest PVC product manufacturers and exporters. The huge production of PVC products increases the demand for PVC stabilizers for a quality product which leads to the high demand for mercaptopropionic acid. China is anticipated to be one of the prominent markets for global mercaptopropionic acid on account of rapid industrialization along with growing domestic production capacity.
With about 4,000 API manufacturers across China, basic chemicals, intermediates, and active pharmaceutical ingredients (APIs) have been the main areas of focus for Chinese pharmaceutical manufacturers. China has quickly overtaken other countries as the world's largest volume supplier of APIs. Recently, Chinese manufacturers have focused on the development and production of finished pharmaceutical products (FPPs), primarily to serve the domestic market, but with increasing attention to export markets. Owing to the huge demand for API from Chinese manufacturers the consumption of mercaptopropionic acid is high in China.
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The global market is fragmented in nature. In the mercaptopropionic market, there is the presence of a number of local players. A fragmented industry provides more opportunities to many players by creating a large segment of market shares. The key players are concentrating on increasing the production capacity of mercaptopropionic acid owing to the huge demand from the end-use industry.
| Attribute | Details |
|---|---|
| Growth Rate | CAGR of 5.3% from 2023 to 2033 |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD Million, Volume in Tons, and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Purity, Function, Application, Region |
| Regions Covered | North America; Latin America; Western Europe; Eastern Europe; Russia and Belarus; Central Asia; Balkan and Baltic countries; East Asia; South Asia and the Pacific; Middle East and Africa |
| Key Countries Covered | The USA, Canada, Mexico, Brazil, Argentina, Germany, The UK, France, Italy, Spain, BENELUX, Nordics, Russia, Belarus, Hungary, Poland, Czech Republic, Central Asia, Balkan and Baltic countries, China, Japan, India, Association of Southeast Asian Nation, Australia and New Zealand, Kingdom of Saudi Arabia, United Arab Emirates, Türkiye, Northern Africa, Israel, South Africa |
| Key Companies Profiled | BOCSCI Inc.; BRUNO BOCK Chemische Fabrik GmbH and Co. KG; Hubei Dechao Chemical Co., Ltd.; Merck KGaA; Penta Manufacturer Company; Santa Cruz Biotechnology, Inc.; Shandong Xinchang Chemical Technology Co., Ltd.; Shanghai Xinyu Biotechnology Co., Ltd.; Sisco Research Laboratories; Tokyo Chemical Industry Co., Ltd.; Parchem; Amadis Chemical Company Limited; BOC Sciences; Alfa Aesar; Thermo Fisher Scientific; Glentham Life Sciences Limited; JSN Chemicals LTD; SAGAR LIFE SCIENCES PRIVATE LIMITED; Ottokemi; Parchem fine and specialty chemicals; Jiangsu Xinyu Bio-Tech Co., Ltd |
| Customization and Pricing | Available upon Request |
In 2022, the value of the Global Market reached over US$ 308.6 million.
During the forecast period, the global Mercaptopropionic Acid market is estimated to expand at a CAGR of 5.3% during 2023-2033.
The global Mercaptopropionic Acid market is projected to reach US$ 544.7 million by the end of 2033.
China is projected to lead the global market in the forecast period.
The market for pharmaceutical applications is expected to grow nearly with a CAGR of 5.8% by 2033.
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Mercaptopropionic Acid Market
