Global 2-hydroxypropionic Acid market cagr 15.4%

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2hydroxypropionic Acid Market

2-hydroxypropionic Acid Market Scope: Industry

Analysis, Market Size, Growth, Trends Till 2031

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2-hydroxypropionic Acid Market Size and Growth

The 2-hydroxypropionic acid market is experiencing steady growth due to increasing demand in diverse applications such as pharmaceuticals, food, and cosmetics. Current market size is estimated at approximately $XX million, with projected growth driven by expanding end-use sectors and favorable regulatory conditions enhancing its applications and sustainability.

Companies Covered

(Covid 19 Impact Covered)

◍ Corbion

◍ Naturework

◍ Galactic

◍ Henan Jindan Lactic Acid Technology

◍ COFCO Biochemical

◍ Musashino Chemical

◍ Wuhan Sanjiang Space Good Biotech

◍ Shanxi Biochemical

◍ Jungbunzlauer

◍ Zhengzhou Tianrun

◍ Shangdong Fullsail

The 2-hydroxypropionic acid market features companies like Corbion, NatureWorks, and Jungbunzlauer, which produce lactic acid for bioplastics and food applications. Galactic and COFCO Biochemical focus on fermentationderived products. Their innovations and sustainable practices are driving market growth through increased demand and diverse applications. Revenue figures include:

- Corbion: Approximately $1 billion

- Jungbunzlauer: Around €700 million

- NatureWorks: Roughly $300 million

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Market Segmentation

By Application

PLA

Pharmaceutical

Home & Personal Care

Industrial Applications

Food & Beverage

Others

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By Product

Food Grade

Industrial Grade

Pharmaceutical Grade

Market Growth

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$ X Billion USD

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