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Glucaric Acid Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033 | The Archer Daniels Midland Company, BASF SE, LyondellBasell Industries, Merck KGaA, Koninklijke DSM N.V, Sinochem Group, Roquette Frères SA, Novozymes A/S, Jun
As per the report, the glucaric acid market size has grown strongly in recent years. It will grow from $0.98 billion in 2023 to $1.06 billion in 2024 at a compound annual growth rate (CAGR) of 8.7%. The glucaric acid market size is expected to see strong growth in the next few years. It will grow to $1.50 billion in 2028 at a compound annual growth rate (CAGR) of 9.1%.Download Free Sample Report @ https://www.thebusinessresearchcompany.com/sample.aspx?id=16068&type=smp
Eco-Friendly Chemical Demand Boosts Glucaric Acid Market Growth
The rising demand for eco-friendly and bio-based chemicals is expected to propel the growth of the glucaric acid market going forward. Eco-friendly and bio-based chemicals refer to substances produced from renewable resources using processes that have minimal environmental impact, promote sustainability, and reduce reliance on fossil fuels. The rising demand for eco-friendly and bio-based chemicals is driven by increasing environmental concerns and regulatory pressures to reduce carbon footprints and pollution. Glucaric acid is used in eco-friendly and bio-based chemicals as a biodegradable alternative for various applications, including detergents, corrosion inhibitors, and food additives. For instance, in December 2022, according to the International Energy Agency, a France-based government agency, demand for vegetable oil, waste, and residue oils and fats increased by 56% to 79 million metric tons in the 2022-2027 period. Moreover, wastes and residues are expected to be used for 13% of biofuel production in 2027, up from 9% in 2021. The rising demand for eco-friendly and bio-based chemicals will drive the growth of the glucaric acid market.
Innovations And Full-Scale Production In The Glucaric Acid Market
Major companies operating in the glucaric acid market are focusing on adopting innovations in production processes, such as full-scale glucaric acid fermentation, to provide cost-effective, high-purity, and environmentally friendly alternatives for various industrial applications. Full-scale glucaric acid fermentation utilizes microorganisms to convert glucose-containing raw materials into glucaric acid. For instance, in November 2021, Kalion Inc., a U.S.-based biotech company, completed its first full commercialization of its glucaric acid product through custom manufacturing at Evonik in Europe. Kalion's KSPG40 glucaric acid is a potent corrosion inhibitor, surpassing phosphates in water treatment. Additionally, Kalion provides the pharmaceutical market with high-purity calcium glucarate, reducing residue on ignition (ROI) by up to 50% compared to alternatives. This milestone enables the company to fulfill current customer commitments and demands while offering limited quantities for additional customers interested in evaluating their high-purity glucaric product.
The glucaric acid market covered in this report is segmented -
1) By Type: Calcium D-Glucarate, Pure Glucaric Acid, D-Glucaric Acid-1,4-Lactone, Potassium Sodium D-Glucarate, Other Types
2) By Application: Detergents, Healthcare, Food Manufacturing, Corrosion Inhibitors, Other Applications
3) By Sales Channel: Direct Sale, Indirect Sale
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Major companies operating in the glucaric acid market are The Archer Daniels Midland Company, BASF SE, LyondellBasell Industries, Merck KGaA, Koninklijke DSM N.V, Sinochem Group, Roquette Frères SA, Novozymes A/S, Jungbunzlauer Suisse AG, Toronto Research Chemicals Inc, Codexis Inc., Cayman Chemical Company, Tokyo Chemical Industry Co. Ltd, Biosynth Ltd, Chemrez Technologies Inc, Parchem Fine & Specialty Chemicals, Santa Cruz Biotechnology Inc, Rennovia Inc, Alfa Chemistry, Rivertop Renewables, Haihang Industry Co Ltd, CHEMOS GmbH & Co KG, AK Scientific Inc, Kalion Inc, PMP Inc, Shandong Baovi Energy Technology Co Ltd, Otto Chemie Pvt Ltd, Glentham Life Sciences Limited
Contents of the report:
1. Executive Summary
2. Glucaric Acid Market Report Structure
3. Glucaric Acid Market Trends And Strategies
4. Glucaric Acid Market - Macro Economic Scenario
5. Glucaric Acid Market Size And Growth
…..
27. Glucaric Acid Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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