What’s promoting the Gluconic Acid Market growth? Industry Participants - Roquette, Jungbunzlauer, PMP, Evonik, TCI Chemicals, Merck Millipore, R-biopharm, Toronto Research Chemicals
Gluconic acid market from personal care industry should generate revenues at over USD 6.5 million by 2024. Positive indicators in personal care industry growth owing to increasing demand in organic personal care products supported by rising economic standards should propel industry growth. These products are widely applicable in manufacturing cosmetic products, cleansers, foaming agents, wetting agents, bath products, baby products, lipstick, antimicrobial agents and dentine cleaners.
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Strong demand outlook for gluconic acid in household detergents, industrial cleaners, personal care products and agricultural chemical industries should propel product demand. Higher shelf life and sustainability compared to synthetic products along with stringent government regulations pertaining to substituting petroleum-based products will further bolster industry growth.
Key raw ingredients for manufacturing gluconic acid includes sugar which is utilized as a sweetening agent in food & beverages, and is acquired from several plants, including sugar cane and sugar beet. The product is manufactured using glucose, which can be naturally present is food including honey or can be produced from sugar.
High cost competitiveness & complex manufacturing process for these feedstocks over conventional acids is a major industry restraint, thus affecting gluconic acid market price trends. This creates an opportunity for marketers to utilize industrial and agricultural waste in production process to increase industrial profitability.
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Gluconic acid market from agrochemical industry application should surpass USD 3.5 million during forecast timeframe owing to its ability to enhance fertilizer performance & productivity upon mixing. High technological innovation for product & manufacturing technology along with development of bioremediation technology should propel industry size.
Gluconic acid industry from sodium gluconate should witness significant gains at over 5% by 2024 due to its green chemistry and lower carbon footprint. These organic acids offer stability in a wide range of pHs, and temperature. It is chelating agent for plating, alumina dyeing and cement industries hence propelling product demand.
U.S. market size from pharmaceutical application may surpass USD 1.5 million by 2024. Growing medical spending along with large scale pharma industry in the region is likely to impel product demand in the projected timeline.
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Japan gluconic acid market will witness gains at over 5% during projected period which can be attributed to extensive regional presence of textile, agricultural chemical and personal care industries. Rising per capita income along with government support for bio-based manufacturing industry should further strengthen regional industry growth.
Germany gluconic acid industry would generate revenues over USD 6 million by 2024. This growth in can be ascribed to presence of strict ecological protection policies accompanied by growing consumer health awareness which should stimulate regional industry growth.
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