Valeric Acid Market Size

Valeric Acid Market size is poised to reach USD 31 Billion by the end of 2036, growing at a CAGR of 6% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of Valeric Acid was USD 17 Billion. The reason behind the growth is impelled by the growing production of chemicals across the globe.

Except for pharmaceuticals, global chemical production is predicted to increase since chemicals are becoming more and more necessary as components of many products and as raw materials for manufacturing processes as economies expand. For instance, in 2023, it is anticipated that global chemical production will increase by more than 1%.

The growing demand for synthetic lubricants is believed to fuel the market growth. In applications such as aviation and refrigeration, valeric acid serves as a chemical intermediary in esters for synthetic lubricants since can help with the emission reduction of things including aviation turbine oils.