Pyruvic Acid Market: Introduction
Pyruvic acid is also known as acetyl formic acid, pyrogluconic acid, and 2-oxopropionic acid. Pyruvic acid is the simplest of the alpha-keto acid, a carboxylic acid and a ketone group attached to it. Pyruvic acid is found in the human body and is mainly involved in the metabolism of sugars and fats. Pyruvic acid is also one of the intermediate products of carbohydrates metabolism. Pyruvic acid and the salt it produces are extensively used in pharmaceutical field for production of sedatives, antioxidants, synthetic drugs for hypertension. Pyruvic acid is widely used as an organic acid with uses in industrial and scientific research in fields of chemistry, pharmaceuticals, and agro chemistry. Pyruvic acid is a key raw material in the synthesis of multiple pesticides such as atropine and grain protectant. Pyruvic acid has a potential to be used as a preservative and antioxidants in cosmetic and foods.
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Pyruvic Acid Market: Dynamics
Increasing consumption of agrochemicals and organic chemicals is boosting the pyruvic acid market. Medical advancements and discoveries have resulted in increased life expectancy with improvement in quality of life for many. Pyruvic acid also finds its application in pharmaceutical industry where the growth of pharmaceutical drugs is leading to increase in demand for pyruvic acid in the market. High economic growth along with increasing penetration of health insurance to push the healthcare market which in turn will lead to increase in pyruvic acid market. Many regions are heavily dependent on their agricultural production which will lead to increase in demand of pesticides and insecticides, pyruvic acid being one of the raw materials is expected to benefit from such demand. Pyruvic acid is used as a raw material for manufacturing pesticides, insecticides, medicines, and other products which has to go through stringent layers of tests, to get approval for market production. Stern government laws and regulations, and interference in the authorization process is primary challenge in the market. Pyruvic acid has a potential role in cardiovascular therapy as an inotropic agent in high concentrations which may accelerate the market.
Pyruvic Acid Market: Segmentation
The global pyruvic acid market has been segmented by: Function
- Additive
- Chemical Intermediates
The global pyruvic acid market has been segmented by: Application
- Food
- Pharmaceuticals
- Agrochemicals
- Others
The global pyruvic acid market has been segmented by: Product Type
- Biotechnological Methods
- Chemical Methods
Pyruvic Acid Market: Regional Outlook
Increasing consumption of medicines in growing economies such as India, China, and others have resulted in the increase in pyruvic acid market. Asia-Pacific region showing immense growth in terms of pharmaceutical productions and 40% of agricultural output from Asia-Pacific will drive the pyruvic acid market extensively. Europe and North America have significant share in the food & beverage market with increase in demand of processed food will propel the pyruvic acid market. Latin America’s slight increase in spending, awareness created by the government for medical insurance have led to increase in demand for pyruvic acid for medicinal production. Increasing consumers purchasing strength, rapid urbanization, and raising healthcare insurance policies have increase demand of pharmaceutical industry. Low-income countries tend to spend 5.7% of GDP on financing healthcare systems whereas high-income countries spend more than 12.3% on healthcare. With rise in urbanization in some regions of Africa, and the positive surge in the pharmaceutical industries in the Middle-East region it holds a potential market for pyruvic acid.
Pyruvic Acid Market: Key Participants
Example of some of the key participants in the global pyruvic acid market are:
- Shanghai Lianlu Industrial Co. Ltd
- Zhonglan Industry Co. Ltd
- Jinan Pengbo Biotechnology Co., Ltd.
- Penta Manufacturing Company
- Musashino Chemical Laboratory
- VWR International LLC.
- TCI America
- Sisco Research Laboratories Pvt. Ltd.
- Shanghai Worldyang Chemical Co., Limited
- Shanghai Lianlu Industrial Co., Ltd.
- J&K Scientific
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