December 06, 2019
According to the new research report available at MarketStudyReport.com under the title ‘Choline Chloride Market to 2027 - Global Analysis and Forecasts by End-Use Industry (Feed Industry, Human Nutrition, Oil and Gas Industry, Others (Skin and Hair Care), and By Geography’, the worldwide choline chloride market is expected to reach US $1019.5 million by the year 2027.
Choline chloride is an organic compound comprising both alcohol and quaternary ammonium salt, hence is soluble in alcohol as well as water. It has neutral pH which makes is safe for consumption in liquid or powdered form.
Rising demand of choline chloride by poultry feed is driving the overall growth of choline chloride market. The product is a vital source of vitamin B4 and is known to promote performance. It prevents perosis and liver enlargement, while ensuring enhanced metabolism in poultry animals. Increasing awareness regarding the functional properties and rising implementation are stimulating the market growth.
According to the report, choline chloride market was worth US $662.5 million in 2018 and is predicted to grow with a CAGR of 5% through 2018-2027, hence accumulating US $1019.5 million.
Choline chloride market is examined on the basis of end-use industry and regional landscape. Based on end-use spectrum, the market is segmented as feed industry, oil & gas industry, human nutrition, and skin & hair care. Choline chloride market from oil & gas industry is anticipated to register accelerated growth over the forecast period, as it extensively used as clay stabilizer. The product is non-toxic, had low viscosity and addresses the issue of crystallization, which are boosting its demand across the industry segment.
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Speaking of regional landscape, the global choline chloride market is divided into five regions which include South America, North America, Europe, Middle East & Africa, and Asia Pacific.
The prominent companies operating in choline chloride market include GHW Eurochemicals S.R.O., Balchem Corporation, BASF SE, Eastman Chemical Company, Jubilant Life Sciences Ltd., Pestell Minerals & Ingredients Inc., Balaji Amines Ltd., NB Group Co. Ltd., Be-Long Corporation, and Algry Quimica S.L. among others.
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