Canada 3-hydroxypropionic Acid Market Size & Outlook
Canada 3-hydroxypropionic acid market, 2018-2030 (US$M)
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Canada 3-hydroxypropionic acid market highlights
- The Canada 3-hydroxypropionic acid market generated a revenue of USD 18.2 million in 2023 and is expected to reach USD 34.0 million by 2030.
- The Canada market is expected to grow at a CAGR of 9.3% from 2024 to 2030.
- In terms of segment, petroleum was the largest revenue generating source in 2023.
- Bio-based is the most lucrative source segment registering the fastest growth during the forecast period.
3-hydroxypropionic acid market data book summary
| Market revenue in 2023 | USD 18.2 million |
| Market revenue in 2030 | USD 34.0 million |
| Growth rate | 9.3% (CAGR from 2023 to 2030) |
| Largest segment | Petroleum |
| Fastest growing segment | Bio-based |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Petroleum, Bio-based |
| Key market players worldwide | Cargills Ceylon, Lion Corp, Triveni Interchem, Basf SE ADR, Novozymes |
Other key industry trends
- In terms of revenue, Canada accounted for 2.6% of the global 3-hydroxypropionic acid market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. 3-hydroxypropionic acid market is projected to lead the regional market in terms of revenue in 2030.
- U.S. is the fastest growing regional market in North America and is projected to reach USD 256.7 million by 2030.
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3-Hydroxypropionic Acid Market Scope
3-Hydroxypropionic Acid Market Companies
| Name | Profile | # Employees | HQ | Website |
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Canada 3-hydroxypropionic acid market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to 3-hydroxypropionic acid market will help companies and investors design strategic landscapes.
Petroleum was the largest segment with a revenue share of 79.12% in 2023. Horizon Databook has segmented the Canada 3-hydroxypropionic acid market based on petroleum, bio-based covering the revenue growth of each sub-segment from 2018 to 2030.
Several government initiatives in Canada have played an essential role in driving the domestic pharmaceutical industry, which is likely to fuel the demand for 3-hydroxypropionic acid over the forecast period.
The food & beverage industry, followed by the personal care industry, constituted the largest share of the 3-hydroxypropionic acid market.
The demand for 3-HPA in the personal care industry is expected to witness high growth in Canada due to rising disposable income, continuing research & development on cosmetic products, and the inclination to spend more on appearance.
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Target buyers of Canada 3-hydroxypropionic acid market databook
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Our clientele includes a mix of 3-hydroxypropionic acid market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the Canada 3-hydroxypropionic acid market , including forecasts for subscribers. This country databook contains high-level insights into Canada 3-hydroxypropionic acid market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Canada 3-hydroxypropionic acid market size, by source, 2018-2030 (US$M)
Canada 3-Hydroxypropionic Acid Market Outlook Share, 2023 & 2030 (US$M)
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