Polycarboxylic Acid Market

Polycarboxylic Acid Market Outlook (2023 to 2033)

Based on the analysis by Fact.MR, the global polycarboxylic acid market is estimated to be valued at US$ 4.7 billion in 2023 and it is expected to grow at a CAGR of 4.7% to reach US$ 7.5 billion by the end of 2033.

Polycarboxylic acid finds multiple applications in the pharmaceutical, food and beverages, personal care & cosmetics, and plastic industries due to its chelating properties, which bolsters the polycarboxylic acid market growth during the forecast period.

Report Attributes	Details
Polycarboxylic Acid Market Size (2022A)	US$ 4.5 Billion
Estimated Market Value (2023E)	US$ 4.7 Billion
Forecasted Market Value (2033F)	US$ 7.5 Billion
Global Market Growth Rate (2023-2033)	4.7% CAGR
East Asia Market Share (2023)	23.7%
China Market Growth Rate (2023-2033)	5.8% CAGR
Key Companies Profiled	Acuro Organics Limited Arkema Cargill Fuso chemical co ltd Nippon shokubai co. ltd. Roquette Freres Tate & Lyle PLC. Weifang Ensign Industry Co. Ltd. Zibo Zhuoxing Enterprises Co., Ltd

Historic and Future Pathway Analysis for the Polycarboxylic Acid Market

Polycarboxylic acids, also known as poly acids, are organic compounds that contain multiple carboxylic acid functional groups (-COOH) in their chemical structure. They have gained significant demand and importance in various fields due to their unique chemical properties and diverse applications in electroplating, pharmaceutical products, food additives, and others. It is widely used in flavors as well as the fragrance industry. The diverse applications created a huge demand for polycarboxylic acid in the various end-use industry.

• Short Term (2023-2026): Escalating end-use industries across the world are projected to increase the sales of polycarboxylic acid during the short-term period.
• Medium Term (2026-2029): Growth in industries such as construction, personal care and cosmetics, and pharmaceutical around the Asia Pacific region particularly in India and China is driving the demand for polycarboxylic acid.
• Long Term (2029-2033): Government investments in infrastructure development and construction projects drive the demand for polycarboxylic acids in concrete admixtures and related applications.

On the back of the aforementioned facts, the polycarboxylic acid market is anticipated to grow at a CAGR of 4.7% during the forecast period from 2023-2033, According to the Fact.MR, a market research and competitive intelligence provider.

Market share analysis of polycarboxylic acid based on product type and region is provided in a nutshell in the above image. Under the product type segment, the citric acid sub-segment dominates with a 67.5% market share in 2023.

Market Dynamics Outlook

“Rising Pharmaceutical Industry around the Globe Has Led to an Increase in Polycarboxylic Acid Demand”

The rising pharmaceutical industry worldwide has indeed contributed to an increase in the demand for polycarboxylic acids. Polycarboxylic acid finds multiple applications in pharmaceutical products. Developing countries such as India and China have seen rapid growth in the pharmaceutical industry. The pharmaceutical industry is considered to be one of the mainstays of the country’s economy.

• China’s total research and development spending on the Chinese pharmaceutical industry is estimated to reach US$ 342 Billion by the end of 2023 which shows faster growth than the worldwide average.
• Chinese manufacturers have focused on the development and production of finished pharmaceutical products to serve the domestic market but with increasing attention to the export market.
• According to the India Brand Equity Foundation (IBEF) the total market size of the Pharmaceutical Industry is expected to reach US$ 130 Billion by the end of 2030.

This is expected to boost the demand for polycarboxylic acid in the coming years, as it is widely used in pharmaceutical formulations. Thus, the growth of the pharmaceutical industry, coupled with the constant need for innovative drug delivery systems, improved drug stability, and enhanced solubility, has increased the demand for polycarboxylic acids.

“The Factors Affecting the Growth of the Polycarboxylic Acid Market”

Polycarboxylic acids face competition from alternative chemical additives or substitutes that offer similar functionalities. For example, in the construction industry, other concrete admixtures or plasticizers may provide comparable performance at a lower cost. The availability and adoption of alternative products can limit the market growth for polycarboxylic acids.

Governments may impose restrictions or bans on the use of certain chemicals, including polycarboxylic acids, due to concerns over their environmental impact or potential health risks. These restrictions can limit the market opportunities for polycarboxylic acids.

Stringent regulations can increase compliance costs for manufacturers and suppliers of polycarboxylic acids. Higher compliance costs may impact the profitability and competitiveness of companies operating in the polycarboxylic acid market, particularly for smaller or newer market players.

Country-wise Insights

What are the Factors Driving Polycarboxylic Acid Demand Across China?

China has experienced significant industrial growth across various sectors, including pharmaceuticals, food & beverages, and personal care. The expanding industrial base in China drives the demand for polycarboxylic acids.

The pharmaceutical industry in China has been experiencing robust growth. Polycarboxylic acids find extensive applications in drug delivery systems and stability enhancement of pharmaceutical formulations. As the demand for innovative drug formulations and improved healthcare products increases, the demand for polycarboxylic acid will increase.

Polycarboxylic acid is used in multiple applications in construction. It is widely used in high-strength concrete and high-performance concrete, precast concrete, self-compacting concrete, and others. As construction activities increase, so does the demand for polycarboxylic acids in China. The construction sector is considered the backbone of a country’s economy. It plays a crucial role in the growth of the economy.

• China’s total spending on infrastructure in 2021 was over US$ 650 billion.

Thus, development in the pharmaceutical and construction industry across China will generate a profitable opportunity for the polycarboxylic acid market to grow in the coming years.

Why the Demand for Polycarboxylic Acid is Growing in India?

Polycarboxylic acids, such as Citric Acid, are widely used in the formulation of skincare, haircare, and cosmetic products due to their chelating, pH-regulating, and preservative properties. The growing demand for personal care and cosmetic products fuels the polycarboxylic acid market in India.

The Indian beauty, personal care, and hygiene space have matured and expanded significantly in the last few years due to an increase in e-commerce adoption.

India has a diverse and robust industrial landscape, including pharmaceuticals and food. Polycarboxylic acids find extensive applications in these industries, driving the demand for polycarboxylic acid. These factors, combined with the country's strong industrial base, technological advancements, and market dynamics, have created a favorable environment for the growth of the polycarboxylic acid market in India.

Category-wise Insights

Why Do Personal Care & Cosmetics Have a Significant Share in The Polycarboxylic Acid Market?

Polycarboxylic acids have chelating properties and help stabilize formulations. In personal care and cosmetics, chelating agents such as citric acid can enhance the stability of products. Thus, the growth of the personal care and cosmetics industry boosts the demand for polycarboxylic acids.

• The beauty and personal care market will generate US$ 91.41 billion in revenue in 2023. The market is anticipated to expand at 2.6% annually. During the forecast period, the market is anticipated to be worth US$ 118.1 billion.
• The beauty and personal care market is expected to create an absolute $ opportunity of US$ 29.1 billion during the forecast period.
• In 2023, the hair care sector will generate US$ 13.4 billion in revenue. The market is anticipated to grow at a CAGR of 1.2%. In terms of global comparison, the United States generates the largest revenue (US$13,440.0 million in 2023).

Overall, Growth in the personal care and cosmetic industries creates multiple opportunities for the polycarboxylic acid market to grow during the forecast period.

How Does the Citric Acid Product Type Drive the Demand for Polycarboxylic Acid?

Citric acid is a widely used organic acid with versatile applications across various industries. It is utilized as a pH regulator, flavor enhancer, chelating agent, and preservative in food and beverage products. The extensive use of citric acid in the food industry drives the demand for polycarboxylic acids.

Citric acid finds applications in the pharmaceutical industry as an excipient and pH regulator in drug formulations. It provides an array of benefits and functionality for pharmaceutical products.

Citric acid is a common ingredient in personal care and cosmetic products. It is used as a pH adjuster, chelating agent, and preservative in skincare, haircare, and cosmetic formulations.

The versatile applications of citric acid in food, pharmaceuticals, personal care, and other industrial sectors contribute to the broader utilization and market growth of polycarboxylic acids. Overall, the demand for citric acid as a specific product type within polycarboxylic acid has a positive impact on the overall demand for polycarboxylic acids.

Eminent Player’s Key Stratagems

Eminent polycarboxylic acid manufacturers are Acuro Organics Limited, Arkema, Cargill, Fuso Chemical co ltd, Nippon shokubai co. ltd., Roquette Freres, Tate & Lyle PLC., Weifang Ensign Industry Co. Ltd., and Zibo Zhuoxing Enterprises Co., Ltd.

The companies operating in the production of polycarboxylic acid are continuously investing in research and development capabilities and focusing on optimizing their production processes to increase efficiency, reduce costs, and minimize environmental impact. Process optimization may involve implementing advanced technologies, adopting sustainable practices, and improving energy and resource utilization.

Fact.MR has provided detailed information about the price points of key manufacturers of polycarboxylic acid positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.

Segmentation of Polycarboxylic Acid Industry Research

• By Product Type :

  • Citric Acid
  • Succinic Acid
  • Malonic Acid
  • Phthalic Acid
  • Others (Butanetetracarboxylic acid, etc.)

• By Application :

  • Food & Beverages Processing
  • Pharmaceuticals Formulation
  • Personal Care & Cosmetics Formulation
  • Plastic Production
  • Concrete Admixture

• By Region :

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • Middle East & Africa