|05-28-2018 03:06 PM CET - Industry, Real Estate & Construction||
Global Fumaric Acid Market Report 2017 to 2022: Analysis, Size, Share, Growth, Demand, Trends and Forecast
Press release from: Fact.MR
Application of fumaric acid in several end use industries across various applications has been witnessed over the last decade. With growing research and development activities, the scope of application of fumaric acid has gone beyond the main food and beverage industry. It is widely used for cosmetic applications, where it regulates the pH value of various cosmetic products and maintains the acidic nature of the product. This has pushed the sales of fumaric acid at a steady pace in the cosmetic industry, especially in body cleansing lotions. Moreover, another aspect driving the demand for fumaric acid is the growing use of unsaturated polyester resins and paints, in the construction and the automotive industries. Fumaric acid is an essential ingredient in the manufacturing of paints, alkyd resins and unsaturated polyester resins. In food industry, rising use of fumaric acid in bakery products is expected to supplement the growth of the global market. Due to its crystalline nature, colorless and odorless properties, fumaric acid is best suited for bakery products which enhances flavors and supports the preservation of bakery products.
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Using top down and bottom up approach, Fact.MR has deduced that the volume production of fumaric acid would grow above 500 thousand tons by the end of the period of assessment. The rate of production of fumaric acid is projected to expand at a volume CAGR of 6.2% during the period of forecast, 2017-2026, which is supported by growing acceptance of fumaric acid in several end user applications in the said period. Key players involved in the manufacturing of fumaric acid include EMD Millipore, Penta Manufacturing Company, TCI America, Tate & Lyle, AIE Pharmaceuticals, Sigma-Aldrich and ESIM Chemicals.
Asia Pacific Excluding Japan (APEJ) to Offer Lucrative Opportunities for Fumaric Acid
Asia Pacific excluding Japan (APEJ) region is known as the manufacturing hub where several manufacturers have set up plants to cater to the growing needs of the population in their respective domains. Chemical companies have tapped the Indian market due to various reasons for instance, cheap land availability and labor. The use of fumaric acid in chemicals, especially in manufacturing of resins and paints has driven its consumption in the region since last decade. Moreover, the food and beverage industry in APEJ is also expected to grow at a high scale. Driven by increasing health awareness and foody nature of the population in this region, several food innovations and introduction of various health products has been witnessed. This has spurred the use of fumaric acid in the region as it is used in producing various energy drinks, health beverages and other food products. Fumaric acid is mainly used for its preservation qualities and maintaining the taste, texture and color of the food item. Consumption of fumaric acid in APEJ is projected to grow at a comparatively higher rate of over 7% during the period of forecast.
Key Insights on Global Fumaric Acid
Extraction of fumaric acid using fermentation is expected to witness an upsurge as it provides high quality and effective fumaric acid produce. Rate of adoption of fermentation is expected to go beyond 8% during the forecast period. Use of maleic anhydrite for fumaric acid production by few manufacturers is also observed during the assessment period
Pharmaceutical and cosmetic industries have shown similar consumption rate of fumaric acid. However, higher sale of fumaric acid in pharmaceutical applications has been witnessed, as compared to cosmetics. Food and beverage continues to lead the global market
With respect to applications, fumaric acid is widely used in food additives and unsaturated polyester resins. Moreover, animal feed is another application area where the consumption of fumaric is expected to grow at a higher rate during the period of forecast. It is projected to grow at 8.7% throughout the analysis period, 2017-2026
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Key players operating in the global fumaric acid are Bartek Ingredients, Thirumalai Chemicals, Polynt S.P.A, Nippon Shokubai Co. Ltd., Tianjin Bohai Chemicals, The Chemical Company, Wego Chemical Group and Changzhou Yabang Chemical Co. Ltd.
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Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized Industrial Goods Market Research Reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that's why we publish multi-industry global, regional, and country-specific research reports.
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This release was published on openPR.
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