Future Market Insights
Hydroxyisobutyric acid is commonly known as HIBA or Acetonic acid. Hydroxyisobutyric acid can be used for the synthesis of polymer, resins, adhesives, etc. and acts as a thickening agent in paint, or ink additive and cosmetics, emollient and skin conditioning agent in skin care and cosmetic products as well as in numerous pharmaceutical drugs. Nowadays, industries are shifting towards eco-friendly manufacturing and the renewable biomass is used for the production of many green chemicals through environment friendly processes. In future, Hydroxyisobutyric acid may be the raw material for chemical industries, which are now dependent on petroleum.
Hydroxyisobutyric acid possesses antimicrobial properties and hence, it is an important constituent in the synthesis of penicillin G salt. Hydroxyisobutyric acid is also used for the manufacturing ofisochromanes, which is used in a wide variety of pharmacological activities. Hydroxyisobutyric acid is considered as a building block of polymer synthesis. Hydroxyisobutyric acid finds its applications as a processing agent for rubber, as an oiling agent for textiles, as a flavouring agent in food industry and lubricant for plastics. Hydroxyisobutyric acid is also used as an electrolyte for detection and separation of the metal ions by on-line cyclic voltammetry. Now, the production of polymers and other materials are mainly done from fossil feedstock i.e. petroleum-based hydrocarbons. 2-hydroxyisobutyric acid (2-HIBA) can be a substitute to these petroleum based hydrocarbons. Now, it is being used as a pharmaceutical intermediary and complex-forming agent for actinide heavy metals and lanthanide.
Hydroxyisobutyric Acid Market:Market Dynamics
The need for sustainable chemistry boosts the demand for green chemicals as well as clean tech solutions and promote the industry to search for bio-based compounds, this in turn, drives the market for Hydroxyisobutyric acid. At present, bio-isomerization process is the process employed for the biotechnological production of 2-HIBA with renewable carbon resources.
Moreover, lack of awareness and lack of feasible biotechnological route to Hydroxyisobutyric acid can act as restraints to this market. Since a long time, inefficient biohydrolysis of acetone cyanohydrin as a partially biotechnological method was known, however, recently, developments such as, biooxidation of tert-butanol to 2-HIBA has been carried out successfully. Production of 2-HIBA at industrial scale would be a process starting from renewable resources.
Hydroxyisobutyric Acid Market:Market Segmentation
Hydroxyisobutyric Acid Market: Regional Outlook
Asia Pacific holds the major share of the global Hydroxyisobutyric Acid market owing to the growth in the end user industries such as polymer industry, cosmetic industry and pharmaceutical industry, mainly in China and India, which increased the demand for Hydroxyisobutyric Acid in this region. Asia Pacific is followed by Europe and North America, due to the significant presence of end user industries, chemical laboratories and chemical companies as well as the initiatives taken by governments and federal agencies to produce green chemicals and clean tech solutions, which are expected to influence the market growth of Hydroxyisobutyric acid over the forecast period.
Hydroxyisobutyric Acid Market: Market Participants
Some of the examples of market participants in the global Hydroxyisobutyric Acid market, identified across the value chain are
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