Carboxylic Acids Market is projected to grow 4.9% CAGR from 2015
A report by Transparency Market Research states that growing consumption of vinyl
acetate in food and beverages sectors is the major factor that is propelling the
growth of global carboxylic acids market from 2015 to 2023. The report also states
that the market is expected to witness a consistent growth in the projected tenure.
This consistency is projected to boost the market with 4.9% CAGR during the tenure.
As per the experts at Transparency Market Research, the global carboxylic acids
market, is witnessing this pace of growth due to availability of several opportunities
that market players can capture and acquire lion’s share in the global carboxylic acids
Serious Competitive Landscape Makes the Entry of New Players Difficult
Looking at the amount of opportunities several new players are also entering the
market. However, their establishment doesn’t seem to be an easy one. This is
because of the high degree of competition that is already prevalent in the global
carboxylic acids market. Moreover, the market has predominantly fragmented
landscape, i.e the dynamics of the carboxylic acids market is dominated by several
prominent players. This also adds up to the challenge for the new players to enter
and establish themselves in the market. Nevertheless, the players are adopting
strategies such as mergers, partnerships, and collaborations.
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With the help of these strategies, the new comers can gain the resources that can
provide them firm grounds for their successful future in the global carboxylic acids
Extensive Application in Drugs Developments Propels the Growth
Carboxylic acids are widely used in drug development by pharmaceutical companies.
Since, there is a major demand for new drugs to cater to the growing epidemic of
bacteria, viruses, and other infection, the demand for carboxylic acid