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Glucaric Acid Market Analysis And Forecast 2017 - 2025

04-05-2018 08:04 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Transparency Market Research

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Glucaric Acid Market

Glucaric Acid Market

Glucaric acid, also known as saccharic acid, is a chemical compound with the formula C6H10O8. It is formed by the resultant chemical reaction between nitric acid and oxidize sugar. Glucaric acid is categorized into renewable or green acids and is used in various applications in industries such as agriculture, pharmaceuticals, chemicals, and food. It is also used in water treatment process and manufacture of detergents. Chemicals employed in the building & construction industry such as phosphates are likely to be substituted by glucaric acid owing to its naturally occurring and renewable nature. Issues regarding the usage of phosphates owing to their toxic nature is the primary driver of the glucaric acid market.

Glucaric acid was one of the widely used chemicals in the U.S. in 2016. It is anticipated to offer ample growth opportunities during the forecast period. Implementation of stringent government regulations regarding the usage of harmful chemicals to curtail environmental damage is the factor driving the glucaric acid market in the U.S. The country is one of the major producers of glucose, which is primarily the reason for the presence of key glucaric acid manufacturing companies. According to a survey by the U.S. Department of Energy, glucaric acid has been identified as the top chemical made from renewable sources. Based on product type, the market for glucaric acid can be segmented into pure glucaric acid, potassium sodium D-glucarate, calcium D-glucarate, D-glucaric acid-1,4-lactone, and others. Based on application, the market for glucaric acid can be segregated into food ingredients, corrosion inhibitors, detergents, de-icing, and others.

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The market for glucaric acid is anticipated to witness significant growth during the forecast period owing to its wide range of application in numerous end-user industries. Rise in usage of glucaric acid in the manufacture of polymer is anticipated to propel the demand for the acid in the next few years. In terms of product, the pure glucaric acid segment held the major share of the market in 2016. It is anticipated to maintain its position during the forecast period. Low cost and easy availability are estimated to boost the pure glucaric acid segment in the near future. Pure glucaric acid is followed by calcium D-glucarate. The segment is projected to witness high growth, led by the rise in applications in the food industry. D-glucaric acid-1,4-lactone accounted for nominal share of the market in 2016 owing to its usage in curing cancer. This product has gained momentum in countries in Asia Pacific such as India and China, due to the high prevalence of cancer in the region.

In terms of application, the detergents held accounted for key share of the glucaric acid market in 2016. The segment is likely to maintain its position during the forecast period. Implementation of stringent government regulations regarding the usage of toxic phosphates in liquid detergents and rising demand for biodegradable cleaners are the factors augmenting the demand for glucaric acid based detergents. The detergents segment was followed by the food ingredients segment in 2016. Increasing awareness about glucaric acid owing to its ability to maintain levels of essential nutrients in food and rising consumption in everyday meals are driving the demand for glucaric acid.

Based on geography, Asia Pacific accounted for significant share of the glucaric acid market in 2016 due to the easy availability of raw materials and cheap labor in comparison to North America and Europe. Thus, major players including Rennovia and Rivertop have established manufacturing facilities in emerging economies of Asia Pacific such as India, China, and Taiwan. North America accounted for significant share of the market in 2016, as the U.S. was the pioneer in introduction of the acid. Glucaric acid is a renewable product. Hence, its usage is supported by governing bodies such Environmental Protection Agency (EPA). This is further augmenting the demand for glucaric acid.

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Key players operating in the glucaric acid market include Rennovia Inc., Rivertop Renewables, Shanghai Meicheng Chemical Co. Ltd., Kalion Inc., and Chemos.

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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

Each TMR syndicated research report covers a different sector - such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports strive to provide clients to serve their overall research requirement.

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