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3-Hydroxypropionic Acid Market Report

RA00100

3-Hydroxypropionic Acid Market, by Product Type (Powder, Liquid), by End-Use (Adhesives & Sealants, Construction, Paints & Coatings, Others), Regional Analysis (North America, Europe, Asia-Pacific, LAMEA): Global Opportunity Analysis and Industry Forecast, 2019–2026

RA00100

Pages: NA

Feb 2020

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Global 3-Hydroxypropionic Acid Market Analysis 2026:

3-Hydroxypropionic acid (3-HP) is the viscous fluid with a pKa value of 4.5. It is soluble in diethyl ether, water, and ethanol. It is also recognized as ethylene lactic acid and hydracrylic acid. 3-HP is a nonchiral carboxylic acid and it has the major demand in the global market. 3-HP acid is primarily utilized as a precursor in industrial production of a large number of chemicals, such as acrylates and its many other derivatives. Also, this acid can be produced from multiple renewable resources.

Versatile applications of the Acrylates are expected to drive the Global 3-Hydroxypropionic Acid Market

Acrylates have versatile applications in the production of adhesives, paints, and various water-based emulsions. The extensively rising demand for acrylates in the end-use industries such as fabrics, adhesives, and paints & coatings, it is anticipated to boost the growth of the global 3-Hydroxypropionic Acid Market, during the projected period.

In addition, rising construction projects in some parts of the Asia Pacific region and the Eastern part of Europe will massively grow the demand for acrylates, which will eventually spur the need for 3-hydroxypropionic acid, across the globe. Moreover, bio-based polymers are creating huge demand, as they are recognized as an environmentally friendly products. Aforementioned are the key factors in making a positive impact on the 3-hydroxypropionic acid market growth.

Higher costs and lack of appropriate resources is projected to restrain the growth of global 3-Hydroxypropionic acid Industry

When present in high levels, 3-hydroxypropionic acid has various adverse effects on many organ systems. Also, many of the market players of the polymer production sector, are highly preferring synthetic polymers for the production of acrylates.

Moreover, the lack of proper resources attributed to the high prices of 3-hydroxypropionic acid will restrain the growth of the global 3-Hydroxypropionic acid market.

3-Hydroxypropanoic Acid production by metabolically engineered bacteria is projected to create enormous opportunities for the 3-Hydroxypropionic acid industry

3-HP acid is recognized as an essential tool for the production of valuable chemicals including bioplastics. For reducing the adverse impacts of chemical production to the Environment, top players are majorly taking the support of bio-based chemical production. Thus, these players are focusing mainly on developing sustainable processes based on renewable resources. Specific metabolic pathways have the potential of converting glycerol into 3-Hydroxypropanoic Acid. The latest advancements in the bio-production of 3-Hydroxypropanoic acid have the capability of waste management. In addition, the latest progress in synthetic biology and metabolic engineering will support to enhancement of production strains along with sustainable and viable 3-HP acid production.

3-Hydroxypropionic Acid Market Segmentation, by Form:

The liquid-based 3-HP acid segment will be most lucrative till 2026

Powder segment of 3-hydroxypropionic acid is projected to have a significant market share; this is significantly owing to rising consumption of acrylates for multiple adhesives such as wood adhesives, bio-adhesives, etc.

3-Hydroxypropionic Acid Market, by Application:

Paintings & Coatings segment will register a significant growth till 2026

The painting and coatings sector is anticipated to witness significant growth, owing to its enormously rising adoption in aerospace and automotive industries. Furthermore, 3-HP acid is frequently used as a feedstock for acrylic esters, which accounts for 60-70% of the products produced from acrylic acid. Acrylic acids have the ability to provide desirable qualities such as good weatherability, color stability, heat and aging resistance, and low-temperature flexibility. These key factors are anticipated to fuel the growth of global 3-Hydroxypropionic Acid Market.

The 3-Hydroxypropionic Acid Market, by Region:

Asia-Pacific region will have immense opportunities for the market investors

Asia Pacific 3-hydroxypropionic acid market is anticipated to have a major market share in the global market, mainly contributed by China, India, and Japan.

A large number of small and medium-scale manufacturers, along with the rise in the trade expansion of India and China is attributed to compel the demand for 3-hydroxypropionic acid, which is further anticipated to the positive growth of Asia Pacific market. Moreover, because of extensive properties, 3-Hydroxypropionic acid has tremendous use in the production of paint and coatings. In addition, the market players in the paints & coatings market have a strong presence in Asian countries and investing heavily in R&D. Also, they are focusing more on licensing agreements and joint ventures. This massive expansion of paint & coating businesses is attributed to generating major demand for 3-hydroxypropionic acid and eventually, this will drive the growth of 3-hydroxypropionic acid in the Asian market.

The 3-hydroxypropionic acid market of the Europe region is anticipated to grow at a healthy CAGR during the projected period, owing to wide expansion in construction projects in the European countries such as France, Germany, and others.

Key Participants in the Global 3-Hydroxypropionic Acid Market:

Merger & acquisition and advanced product development are the frequent strategies followed by the market players

Key Participants in the Global 3-Hydroxypropionic Acid Market

Source: Research Dive Analysis

Some of the significant 3-Hydroxypropionic acid market players include Hangzhou Dayang Chemical, ShanDong Fine Chemical, Shanxi Jinjin Chemical Co., Ltd., Xiamen Hisunny Chemical Co., LTD, 3B Scientific, Apollo Scientific, and Haihang Industry.

Market Players prefer inorganic growth strategies to expand into local markets.

3-Hydroxypropionic acid market players are emphasizing more on merger & acquisition and advanced product development. These are the frequent strategies followed by established organizations. To emphasize more on the competitor analysis of market players, the porter’s five force model is explained in the report.

Aspect

Particulars

  Historical Market Estimations

  2018-2019

  Base Year for Market Estimation

  2018

  Forecast timeline for Market Projection

  2019-2026

 Geographical Scope

North America, Europe, Asia-Pacific, LAMEA

Segmentation by Form

  • Powder

  • Liquid

  Segmentation by Application

  • Adhesives & Sealants

  • Construction

  • Paints & Coatings

  • Others

 Key Countries Covered

U.S., Canada, Germany, France, Spain,

Russia, Japan, China, India, South Korea, Australia, Brazil, and Saudi Arabia

  Key Companies Profiled

  • Hangzhou Dayang Chemical

  • ShanDong Fine Chemical

  • Shanxi Jinjin Chemical Co., Ltd.

  • Xiamen Hisunny Chemical Co., LTD

  • 3B Scientific

  • Apollo Scientific

  • Haihang Industry

Source: Research Dive Analysis

 


Frequently Asked Questions
 

A. Hangzhou Dayang Chemical, ShanDong Fine Chemical are some of the key players in the global 3-Hydroxypropionic acid market.

A. The Asia-Pacific region possesses great investment opportunities for the investors to witness the most promising growth in the future.

A. Technological advancements, product development, along with joint ventures are the key strategies opted by the operating companies in this market.

A. 3B Scientific, Apollo Scientific, and Haihang Industry companies are investing more in R&D activities for developing new products and technologies.

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