U.S. Acids Market Forecast Assessment Report Till 2028

U.S. Acids Industry Overview

The U.S. acids market size is expected to reach USD 9.6 billion by 2028, according to a new report by Grand View Research, Inc. The market is estimated to reach a CAGR of 5.4% from 2021 to 2028. This growth is attributed to the rising product application scope in food and beverages. Growing utilization of the product in cattle feed to improve the milk production in the ruminants such as cow and sheep is another factor driving the market.

U.S. acids market size, by type, 2018 - 2028 (USD Billion)

U.S. Acids Market Segmentation

Grand View Research has segmented the U.S. Acids market on the basis of type:

Based on the Type Insights, the market is segmented into Organic and Inorganic.

  • The organic type segment dominated the market and accounted for a revenue share of over 70.0% in 2020. This is attributed to the rising use of organic acids in animal feed as well as a substitute in several end-use industries. The demand for food and beverages is expected to increase due to its growing penetration in the meat, poultry, and seafood industries.
  • Organic acids, mainly produced using microbial pathways, are gaining more importance due to their rising demand in the biotechnology market. The microbial pathways are, however, less preferred in comparison to the chemical synthesis method as the latter can be produced more economically by synthetic rather than fermentation processes. This trend is expected to change over the coming years with the discovery of new applications and rising costs of petrochemicals.
  • An inorganic acid is derived from one or more inorganic compounds. The commonly used inorganic acids are sulfuric, hydrochloric, hydrofluoric, and nitric acid. The rising U.S. population has led to an increase in local food manufacturing, thus driving the fertilizers production, and further triggering the product demand. These types of acids are also incorporated during the metal extraction process. Thus, expansion in end-use industries is anticipated to drive the market over the forecast period.
  • The food and beverages application segment dominated the U.S. inorganic acids market and accounted for the largest revenue share of over 30.55% in 2020. This is attributed to the growing demand for functional food products in the country. Additionally, surging demand from several end-use industries such as animal feed, and pharmaceuticals among others are likely to drive the market over the forecast period.

Key Companies Profile & Market Share Insights

The market is observed to be rising significantly over the past couple of years due to increasing innovations in the application industries and increased demand for advanced technology-based products. Most of the players in the market are focusing on differentiating themselves from other players as the market is highly competitive and fragmented.

Some of the prominent players operating in the U.S. acids market include,

  • Polynt Group
  • Cargill Inc.
  • Archer Daniels Midland (ADM) Company
  • General Chemical USA
  • Akzo Nobel N.V.

Order a free sample PDF of the U.S. Acids Market Intelligence Study, published by Grand View Research.

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