Global Gallic Acid Revenue Is Nearly 62.6 M USD And Actual Sales Are About 5800.8 MT In 2018
Friday, 15 Nov, 2019
Gallic Acid (CAS 149-91-7) is a trihydroxybenzoic acid, a type of phenolic acid, a type of organic acid, also known as 3, 4, 5-trihydroxybenzoic acid, founded in gallnuts, sumac, witch hazel, tea leaves, oak bark, and other plants. The chemical formula is C6H2 (OH) 3COOH.
In the last several years, global market of Gallic Acid developed rapid, with an average growth rate of 7.62%. In 2018, global revenue of Gallic Acid is nearly 62.6 M USD; the actual sales are about 5800.8 MT.
The Gallic Acid market is projected to grow at a CAGR of 7.80% from 2019 to 2025, from a market size of 62.64 million USD in 2018 to 104.74 million USD by 2025.
The global average price of Gallic Acid is in the increasing trend, from 9.95 USD/Kg in 2013 to 10.8 USD/Kg in 2018. With the situation of global economy, prices will be in increasing trend in the following several years.
The classification of Gallic Acid includes Industrial Grade, Pharmaceutical?Grade and Food Grade. Industrial Grade accounted for the largest share, about 70% of the overall Gallic Acid market in 2018.
Geographically, the global Gallic Acid consumption market has been segmented into North America, Europe, Asia-Pacific, Central & South America and Middle East & Africa. The Asia-Pacific held the largest consumption share in the global market, its consumption of global market exceeds 50% in 2018. The next is North America.