Market Overview:
Methionine is the vital amino acid needed for
the growth and tissue repair in human and animal. High level of the methionine
can be found in eggs, spinach, cheese, fish, nuts, meat, and poultry. The
overall application scope of the methionine covers applications in animal feed,
food & beverages, pharmaceutical sand others. Factors such as massive
consumption of methionine in animal feed for animal health and nutrition is the
major factor supporting the overall growth of this market. Furthermore, increasing
health issues in old age population is providing scope for methionine
consumption and is further expected to drive global demand. On the spit side,
complexities in the methionine production is creating brier over the growth of
this market. This factor is hampering the global demand and is further expected
to challenge the global demand over the given period.
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Regional Overview Factor
such as high cattle production in China, India, and other South East Asian
countries is the major factor led the domination of Asia Pacific region on
global market. The region is the largest producer as well as consumer of the
methionine and has accounted for the largest global share. Shifting patterns
towards nutritional food including fish, meat, and beef linked with augmented
economic spending power is surging methionine demand across Asia Pacific
region. North America is the second largest region followed by the Asia Pacific
and is witnessing highest CAGR among all. Europe and Middle East both of the region
expected to show moderate growth over the assessment period
the growth offered by this market. Even though,
global competition is medium over the last few years, it is expected to get
high over the assessment period.
Industry news:
May 19, 2016- Sumitomo Chemicals have commences new
production plant and have expanded methionine production line in Japan. It is
the key market in Asia Pacific and active demand is observed in this economy
for feed additive. Sumitomo Chemicals were operating at existing production
capacity of 150,000 tones/per year. It has added additional 100,000 tons of
methionine. As per the proposed plan, this production capacity will be
undertaken in third quarter of 2018.
December 6,
2016 – Sumitomo Chemicals and Itochu Corporation have
formed joint venture for methionine distribution. Together both of these
companies have bound in an distribution agreement, wherein, feed additive
methionine which is to be produce in a new production line at the Ehime Works
of Sumitomo Chemicals. Scope of the this partnership includes establishment of
joint venture to drive the sales of methionine manufactured (1,00,000 tonnes)
in new production line. Itochu would be responsible for the distribution of
methionine.
October 19,
2016 – Evonik Industries started construction of second methionine production plant in
Singapore. This production plant is a major expansion and is being undertaken
and a result of augmented emend for DL-methionine in continued demand for
animal nutrition. Initially this plant would be capable of producing 300,000
metric ton per year of methionine.
November 27,
2015 – Sumitomo Chemicals have doubled their poultry feed
additive and expanded production capacity of methionine. It has spent USD 485
million for this capacity addition. To cater increasing demand form the poultry
from China and Asian country level markets.
October 1,
2015 – Evonik Industries have added 150,000 tones/year
methionine product capacity. Increasing animal nutritional awareness is the key
factor driving the demand for methionine demand and has led this expansion.
With this expansion, Evonik Industry follows the global megatrend of
health and nutrition, which is raising
the DL-methionine growth.
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