Product Code: GVR-4-68040-331-0
3-Hydroxypropionic Acid Market Growth & Trends:
The global 3-hydroxypropionic acid market size is anticipated to reach USD 1.34 billion by 2030, growing at a CAGR of 9.5% from 2024 to 2030, according to a new report by Grand View Research, Inc. The growth is majorly attributed to increasing application of 3- HPA in the production of acrylic acid which is further used in the manufacturing process of a wide range of products such as plastics, fibers, paints, and super-absorbent diapers. It is also used in the production of coatings, widely used in the global automotive industry.
The Environmental, Social, and Governance (ESG) aspects of 3-hydroxypropionic acid (3-HP) focus on its potential as a green and sustainable platform chemical. This compound plays a crucial role as part of carbon-neutralization and green chemistry initiatives, in accordance with ESG values, by offering eco-friendly production using microbial pathways.
Furthermore, the biological production of 3-HP from various sources, such as sugars and glycerol, highlights its versatility and eco-friendly nature, further enhancing its ESG profile. 3-hydroxypropionic acid is a valuable platform chemical that aligns with ESG attributes and good practices in the chemical industry, promoting environmental sustainability and social responsibility.
The production of 3-hydroxypropionic acid is influenced by several factors including the production method, market demand, and supply chain. The chemical synthesis method, which is complex and expensive, contributes to the high cost of 3-hydroxypropionic acid. Bio-based production methods utilizing renewable resources like glycerol or 1,3- propanediol are more cost effective and sustainable.
The production of 3-Hydroxypropionic acid is a complex and expensive process that requires significant energy and resources. The cost of raw materials, such as glycerol, is also increasing globally. Moreover, the cost of producing 3-Hydroxypropionic acid using Coenzyme B12 via the glycerol pathway in E. coli is high because Coenzyme B12 is expensive. In order to produce 3-Hydroxypropionic acid through the glycerol pathway in E. coli, manufacturers must introduce a foreign glycerol dehydratase (GDHt) and add Coenzyme B12 externally. This increases the production cost, which affects the overall economics of the production process.
A significant challenge for industrial-scale production of 3-HP from sugar is the inferior performance of fermentation microbes, which leads to diluted product streams and high separation costs. Few bio-based methods involving lactic acid, yeast, yeast-based ethanol, bacteria-based lactic acid, and coli-based propanediol can compete with petrol-based processes, resulting in higher production costs.
3-Hydroxypropionic Acid Market Report Highlights:
- Petrochemical based products dominated the market with a revenue share of 82.3% in 2023 owing to reduce the cost of production of 3-HPA using petrochemical source and its easy availability in the market.
- Liquid from of the product dominated the market with a revenue share of 65.5% in 2023. The liquid form of 3-HPA is a colorless, odorless, and transparent organic acid. It is soluble in water, ethanol, and ether. It is also used in the food & beverage industry as an acidulant and flavor enhancer.
- Acrylic acid production application dominated the market with a revenue share of 82.5% in 2023. 3-Hydroxypropionic acid (3HPA) is a key intermediate in the production of acrylic acid. The synthesis of acrylic acid is achieved through the process known as microbial fermentation
- Asia Pacific dominated the market segment with a revenue share of 39.7% in 2023 owing to the rising construction activities and increasing demand from the automotive sector in emerging countries, such as India, South Korea, Japan, Indonesia, and the Philippines, which are expected to drive the market over the forecast period.
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.2. Market Definition
- 1.3. Information Procurement
- 1.3.1. Purchased Database
- 1.3.2. GVR's Internal Database
- 1.3.3. Secondary Sources & Third-Party Perspectives
- 1.3.4. Primary Research
- 1.4. Information Analysis
- 1.4.1. Data Analysis Models
- 1.5. Market Formulation & Data Visualization
- 1.6. Data Validation & Publishing
Chapter 2. Executive Summary
- 2.1. Market Snapshot
- 2.2. Segment Snapshot
- 2.3. Competitive Landscape Snapshot
Chapter 3. 3-Hydroxypropionic Acid Market Variables, Trends & Scope
- 3.1. Market Lineage Outlook
- 3.1.1. Global Carboxylic Acid Market
- 3.2. Industry Value Chain Analysis
- 3.2.1. Sales Channel Analysis
- 3.2.2. List of Potential End Users
- 3.3. Price Trend Analysis
- 3.3.1. Factors Influencing Prices
- 3.4. Production Technologies
- 3.5. Patent Analysis
- 3.6. Regulatory Framework, By Regions
- 3.7. Market Dynamics
- 3.7.1. Market Driver Analysis
- 3.7.2. Market Restraint Analysis
- 3.7.3. Industry Challenges
- 3.7.4. Industry Opportunities
- 3.8. Industry Analysis Tools
- 3.8.1. Porter's Five Forces Analysis
- 3.8.2. Macro-environmental Analysis
Chapter 4. 3-Hydroxypropionic Acid Market: Source Estimates & Trend Analysis
- 4.1. Source Movement Analysis & Market Share, 2023 & 2030
- 4.2. Petrochemical
- 4.2.1. Petrochemical based 3-Hydroxypropionic Acid Market Estimates & Forecast, 2018 to 2030 (USD Million) (Kilotons)
- 4.3. Bio-Based
- 4.3.1. Bio-Based 3-Hydroxypropionic Acid Estimates and Forecasts, 2018 - 2030 (USD Million) (Kilotons)
Chapter 5. 3-Hydroxypropionic Acid Market: Form Estimates & Trend Analysis
- 5.1. Form Movement Analysis & Market Share, 2023 & 2030
- 5.2. Liquid
- 5.2.1. Liquid 3-Hydroxypropionic Acid Market Estimates & Forecast, 2018 to 2030 (USD Million) (Kilotons)
- 5.3. Powder
- 5.3.1. Powder 3-Hydroxypropionic Acid Estimates and Forecasts, 2018 - 2030 (USD Million) (Kilotons)
Chapter 6. 3-Hydroxypropionic Acid Market: Application Estimates & Trend Analysis
- 6.1. Application Movement Analysis & Market Share, 2023 & 2030
- 6.2. Acrylic Acid Production
- 6.2.1. 3-Hydroxypropionic Acid Market Estimates & Forecast, in Acrylic Acid Production, 2018 to 2030 (USD Million) (Kilotons)
- 6.3. 1,3 Propanediol
- 6.3.1. 3-Hydroxypropionic Acid Market Estimates & Forecast, in 1,3 Propanediol, 2018 to 2030 (USD Million) (Kilotons)
- 6.4. Other Applications
- 6.4.1. 3-Hydroxypropionic Acid Market Estimates & Forecast, in Other Applications, 2018 to 2030 (USD Million) (Kilotons)
Chapter 7. 3-Hydroxypropionic Acid Market: Regional Estimates & Trend Analysis
- 7.1. Regional Movement Analysis & Market Share, 2023 & 2030
- 7.2. North America
- 7.2.1. North America 3-Hydroxypropionic Acid Market Estimates & Forecast, 2018 - 2030 (USD Million) (Kilotons)
- 7.2.2. U.S.
- 7.2.2.1. Key country dynamics
- 7.2.2.2. U.S. 3-Hydroxypropionic Acid Market estimates & forecast, 2018 - 2030 (USD Million) (Kilotons)
- 7.2.3. Canada
- 7.2.3.1. Key country dynamics
- 7.2.3.2. Canada 3-Hydroxypropionic Acid Market estimates & forecast, 2018 - 2030 (USD Million) (Kilotons)
- 7.2.4. Mexico
- 7.2.4.1. Key country dynamics
- 7.2.4.2. Mexico 3-Hydroxypropionic Acid Market estimates & forecast, 2018 - 2030 (USD Million) (Kilotons)
- 7.3. Europe
- 7.3.1. Europe Organic Fertilizer Estimates & Forecast, 2018 - 2030 (USD Million) (Kilotons)
- 7.3.2. Germany
- 7.3.2.1. Key country dynamics
- 7.3.2.2. Germany 3-Hydroxypropionic Acid Market estimates & forecast, 2018 - 2030 (USD Million) (Kilotons)
- 7.3.3. UK
- 7.3.3.1. Key country dynamics
- 7.3.3.2. UK 3-Hydroxypropionic Acid Market estimates & forecast, 2018 - 2030 (USD Million) (Kilotons)
- 7.3.4. France
- 7.3.4.1. Key country dynamics
- 7.3.4.2. France 3-Hydroxypropionic Acid Market estimates & forecast, 2018 - 2030 (USD Million) (Kilotons)
- 7.3.5. Italy
- 7.3.5.1. Key country dynamics
- 7.3.5.2. Italy 3-Hydroxypropionic Acid Market estimates & forecast, 2018 - 2030 (USD Million) (Kilotons)
- 7.4. Asia Pacific
- 7.4.1. Asia Pacific 3-Hydroxypropionic Acid Market Estimates & Forecast, 2018 - 2030 (USD Million) (Kilotons)
- 7.4.2. China
- 7.4.2.1. Key country dynamics
- 7.4.2.2. China 3-Hydroxypropionic Acid Market estimates & forecast, 2018 - 2030 (USD Million) (Kilotons)
- 7.4.3. India
- 7.4.3.1. Key country dynamics
- 7.4.3.2. India 3-Hydroxypropionic Acid Market estimates & forecast, 2018 - 2030 (USD Million) (Kilotons)
- 7.4.4. Japan
- 7.4.4.1. Key country dynamics
- 7.4.4.2. Japan 3-Hydroxypropionic Acid Market estimates & forecast, 2018 - 2030 (USD Million) (Kilotons)
- 7.5. Central & South America
- 7.5.1. Central & South America 3-Hydroxypropionic Acid Market Estimates & Forecast, 2018 - 2030 (USD Million) (Kilotons)
- 7.5.2. Brazil
- 7.5.2.1. Key country dynamics
- 7.5.2.2. Brazil 3-Hydroxypropionic Acid Market estimates & forecast, 2018 - 2030 (USD Million) (Kilotons)
- 7.5.3. Argentina
- 7.5.3.1. Key country dynamics
- 7.5.3.2. Argentina 3-Hydroxypropionic Acid Market estimates & forecast, 2018 - 2030 (USD Million) (Kilotons)
- 7.6. Middle East & Africa
- 7.6.1. Middles East & Africa 3-Hydroxypropionic Acid Market Estimates & Forecast, 2018 - 2030 (USD Million) (Kilotons)
- 7.6.2. Saudi Arabia
- 7.6.2.1. Key country dynamics
- 7.6.2.2. Saudi Arabia 3-Hydroxypropionic Acid Market estimates & forecast, 2018 - 2030 (USD Million) (Kilotons)
- 7.6.3. South Africa
- 7.6.3.1. Key country dynamics
- 7.6.3.2. South Africa 3-Hydroxypropionic Acid Market estimates & forecast, 2018 - 2030 (USD Million) (Kilotons)
Chapter 8. 3-Hydroxypropionic Acid Market - Competitive Landscape
- 8.1. Recent Developments & Impact Analysis, By Key Market Participants
- 8.2. Key Company Categorization
- 8.3. Company Market Positioning Analysis, 2023
- 8.4. Company Heat Map Analysis
- 8.5. Strategy Mapping
- 8.6. Company Profiles
- 8.6.1. Zhengzhou Alfa Chemical Co., Ltd.
- 8.6.1.1. Participant's overview
- 8.6.1.2. Financial performance
- 8.6.1.3. Product benchmarking
- 8.6.1.4. Recent developments
- 8.6.2. Fluoropharm Co., Ltd.
- 8.6.2.1. Participant's overview
- 8.6.2.2. Financial performance
- 8.6.2.3. Product benchmarking
- 8.6.2.4. Recent developments
- 8.6.3. LG Chem
- 8.6.3.1. Participant's overview
- 8.6.3.2. Financial performance
- 8.6.3.3. Product benchmarking
- 8.6.3.4. Recent developments
- 8.6.4. Thermo Fisher Scientific Inc.
- 8.6.4.1. Participant's overview
- 8.6.4.2. Financial performance
- 8.6.4.3. Product benchmarking
- 8.6.4.4. Recent developments
- 8.6.5. Beijing PhaBuilder Biotechnology Co., Ltd.
- 8.6.5.1. Participant's overview
- 8.6.5.2. Financial performance
- 8.6.5.3. Product benchmarking
- 8.6.5.4. Recent developments
- 8.6.6. Cargill, Incorporated
- 8.6.6.1. Participant's overview
- 8.6.6.2. Financial performance
- 8.6.6.3. Product benchmarking
- 8.6.6.4. Recent developments
- 8.6.7. Tokyo Chemical Industry Co., Ltd. (TCI)
- 8.6.7.1. Participant's overview
- 8.6.7.2. Financial performance
- 8.6.7.3. Product benchmarking
- 8.6.7.4. Recent developments