3,4-Dihydroxybenzoic Acid Market - Forecast(2023 - 2028)

3,4-Dihydroxybenzoic Acid Market Overview

The 3,4-dihydroxybenzoic acid market size is forecast to reach US$657.8 million by 2027, after growing at a CAGR of 3.5% during 2022-2027. Globally, 3,4-dihydroxybenzoic acid, a balsamic tasting compound, is utilized as an antioxidant in various end-use industries, as a chemical synthesis plant extraction, which is driving the market growth. 3,4-dihydroxybenzoic acid is a form of phenolic acid is a potential platform for metabolite of antioxidant polyphenols polymer building blocks such as vanillic acid, muconic acid, vanillin, adipic acid. This acid is an active component of various medicinal edible plants, which is surging its demand globally. Moreover, the protocatechuic acid or 3,4-dihydroxybenzoic acid exhibits many pharmacological characteristics and finds usage in polymers, bioplastics, also as a bio-based active films to improve food preservation, which is estimated to propel the demand for 3,4-dihydroxybenzoic acid market in the forecast period.

COVID-19 Impact

The COVID-19 outbreak widely affected the plastic, food beverage, herbal medicine industries over 2020. Owing to the nationwide lockdown, the production process of various products in these industries declined due to the non-availability of 3,4-dihydroxybenzoic acid. Economies of each sector got affected, resulting in stagnation of activities across the sectors that use 3,4-dihydroxybenzoic acid. Business communities faced several issues related to raw material shortage, labour shortage, temporary closure of operations, supply chain disturbance and many more. However, the rising demand for herbal medicines organic food emerged as a driving factor for the 3,4-dihydroxybenzoic acid market during the challenging period.

Report Coverage

The “3,4-Dihydroxybenzoic Acid Market Report – Forecast (2022 - 2027)” by IndustryARC, covers an in-depth analysis of the following segments of the 3,4-dihydroxybenzoic acid industry.

By Purity: 97% Purity, 98% Purity, 99% Purity and Others.
By Product Type: Chemical Synthesis Plant Extraction
By Application: Polymer, Bioplastic, Bio-Based Active Film, Beer, Drugs and Others.
By End Use Industry: Food Beverage, Medical Pharmaceutical, Plastic and Others.
By Geography: North America (U.S.A., Canada, Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia, Belgium, Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia New Zealand, Indonesia, Taiwan, Malaysia, Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, Rest of South America), Rest of the World (Middle East Africa).

Key Takeaways

• The Asia-Pacific region dominates the 3,4-dihydroxybenzoic acid market owing to the rising growth in the plastic industry. For instance, according to the Indian Brand Equity Foundation, India exported plastics raw material worth US$ 352.04 million in July 2021, the export during April 2021 to July 2021 was US$ 1.57 billion.
• Rapidly rising demand for 3,4-dihydroxybenzoic acid in the food & beverage industry to delay prevent the onset of lipid oxidation during storage processing of food beverage, has driven the growth of the 3,4-dihydroxybenzoic acid market.
• The increasing demand for 3,4-dihydroxybenzoic acid in plastic industry, due to its usage as a chemical building block for polymers plastics, has been a critical factor driving the growth of the 3,4-dihydroxybenzoic acid market in the upcoming years.
• However, the environmental health problems associated with the 3,4-dihydroxybenzoic acid can hinder the growth of the 3,4-dihydroxybenzoic acid market.

Figure: Asia-Pacific 3,4-Dihydroxybenzoic Acid Market Revenue, 2021-2027 (US$ Million)

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3,4-Dihydroxybenzoic Acid Market Segment Analysis – By Application

The drugs segment held the largest share in the 3,4-dihydroxybenzoic acid market in 2021, due to the increasing health issues, modernization of healthcare infrastructure, growing herbal medicines industry. 3,4-dihydroxybenzoic acid is used as a drug antibacterial in healthcare & pharmaceutical products. It exhibits many pharmaceutical characteristics such as anticancer, antidiabetic, antibacterial, antiulcer, antiviral, anti-atherosclerotic and antihyperlipidemic activities. The growth in the R&D sector, the increasing government investments in pharmaceutical industry, will drive the market for 3,4-dihydroxybenzoic acid drugs. For instance, in 2020, according to the Pharmaceutical Research Manufacturers Association (PhRMA), in the U.S., R&D in pharmaceuticals stood at US$ 75 billion, about more than half of the world's R&D. Thus, the rising government investment in drug manufacturing and R&D activities is predicted to uplift the 3,4-dihydroxybenzoic acid market growth.

3,4-Dihydroxybenzoic Acid Market Segment Analysis – By End-Use Industry

The medical pharmaceutical industry held the largest share in the 3,4-dihydroxybenzoic acid products market in 2021 and is expected to grow at a CAGR of 4.5% during 2022-2027. 3,4-dihydroxybenzoic acid products industry is used in the production of antibiotics, steroids, chemotherapeutic agents, polysaccharides, other products in the medical pharmaceutical industry for rising the bioavailability of drugs. The demand for 3,4-dihydroxybenzoic acid market is increasing, due to the use of antioxidant in the medical pharmaceutical industry for the synthesis of chemical drugs, chemical compounds, other phenolic acid products. 3,4-dihydroxybenzoic acid is also used to produce antibacterial drugs to prevent an increasing number of communicable diseases. Globally, with the rising growth in the pharmaceutical sector, the demand for 3,4-dihydroxybenzoic acid products is also estimated to rise. For instance, according to the Invest India, the pharmaceutical industry in India is estimated to reach US$65 billion by 2024 to US$120 billion by 2030. Thus, with the growing demand for drugs the 3,4-dihydroxybenzoic acid market would further rise over the forecast period.

3,4-Dihydroxybenzoic Acid Market Segment Analysis – By Geography

The Asia-Pacific region dominated the 3,4-dihydroxybenzoic acid market with a share of 38.3% in 2021. APAC region is one of the leading 3,4-dihydroxybenzoic acid manufacturers, with China and India being the key consumers and suppliers of 3,4-dihydroxybenzoic acid. 3,4-dihydroxybenzoic acid is utilized in medical pharmaceuticals, food beverage, plastics, other end-use industries as an antioxidant. It contributes in the production of polymer, bioplastic, bio-based active film, beer, drugs and others. The rising growth of several end-use industries has uplifted the development of the 3,4-dihydroxybenzoic acid market. For instance, according to the China Chain Store & Franchise Association, China's food beverage (F&B) sector reached approximately US$595 billion in 2019, with a 7.8% increase over 2018. In the APAC region, demand for 3,4-dihydroxybenzoic acid with added value is growing substantially. Thus, the increasing government investments in the growing food beverage industry in the APAC region will drive the demand for 3,4-dihydroxybenzoic acid market.

3,4-Dihydroxybenzoic Acid Market Drivers

Increasing Demand for the 3,4-Dihydroxybenzoic Acid in the Food Beverage Industry

In the food beverage industry, 3,4-dihydroxybenzoic acid, also known as protocatechuic acid, is used in food products in order to delay and prevent the onset of lipid oxidation during the storage processing of oils, fats, lipid-containing food beverages. The increasing growth of the food beverage industry will drive the demand for 3,4-dihydroxybenzoic acid market. For instance, the Government of Canada, invested US$6 million in projects to help Ontario food beverage processors to increase their competitive edge, adapt to challenges as we move beyond the pandemic and improve their operations. Thus, with the growth of food beverage sector, the market for 3,4-dihydroxybenzoic acid will further rise over the forecast period.

Growth of the Plastic Industry Will Surge the Demand for 3,4-Dihydroxybenzoic Acid Market

In the plastic industry, 3,4-dihydroxybenzoic acid is used as a chemical building blocks for polymers plastics. 3,4-dihydroxybenzoic acid is applied in bioplastics, polymers, also bio-based active films to enhance food preservation. The increasing growth of the plastic industry will drive the demand for 3,4-dihydroxybenzoic acid market. For instance, according to the Indian Brand Equity Foundation, in 2021, the government aimed to grow the revenues to US$ 130 billion in the next five years from US$ 39 billion. Thus, with the growth of the plastic sector, the market for 3,4-dihydroxybenzoic acid will further rise over the forecast period.

3,4-Dihydroxybenzoic Acid Market Challenges

Environmental Health Problems Associated with the 3,4-Dihydroxybenzoic Acid Will Hamper the Market Growth

The usage of 3,4-dihydroxybenzoic acid in food beverages industry is of paramount importance but during food processing the waste generated contains these acids in waste streams, which is considered as pollutants. In order to maintain the standards of disposal owing to its bactericidal properties, its removal from the waste streams is necessary. At higher concentrations, these acids can induce blisters to harm healthy cells, can cause skin irritation, serious eye irritation, and respiratory irritation with long-lasting effects. Thus, the environmental health problems associated with the 3,4-dihydroxybenzoic acid will hinder the market growth.

3,4-Dihydroxybenzoic Acid Industry Outlook

Technology launches, acquisitions, R&D activities are key strategies players adopt in the 3,4-dihydroxybenzoic acid markets. 3,4-dihydroxybenzoic acid top 10 companies include:

1.  Taizhou Zhongda Chemical
2.  Henan Lyle Wormwood
3.  Aktin Chemical
4. Xi'an Season
5.  Changzhou Sunchem Pharmaceutical Chemical
6.  Guanyun Guangda Agrochemical
7.  Otto Chemie Pvt. Ltd.
8.  BOC Sciences
9.  TCI AMERICA
10. Axiom Chemicals Pvt. Ltd

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