Press release
Glucaric Acid Industry to See Robust Expansion, Valued at $1.56 Billion by 2029
Glucaric Acid
What Is the Projected CAGR for the Glucaric Acid Market from 2024 to 2025?
In recent times, the glucaric acid market has experienced robust growth. It is projected to rise from $1.06 billion in 2024 to $1.14 billion in 2025, indicating a compound annual growth rate (CAGR) of 7.9%. Factors contributing to this growth during the historical period include the demand from the pharmaceutical sector, adoption of food additives, heightened environmental consciousness, government regulations, breakthroughs in research and development, demand for sustainable chemicals, applications in industrial cleaning, and the demand for personal care products.
What are the Expected Market Size and CAGR for Glucaric Acid by 2029?
In the coming years, the glucaric acid market is predicted to witness significant expansion, with its value projected to reach $1.56 billion by 2029, growing at a compound annual growth rate (CAGR) of 8.1%. This anticipated growth for the period under forecast can be ascribed to elements such as an emphasis on green chemistry, inclusion of bio-based polymers, capacity enhancements, diversification in agricultural and textile sectors, and a growing trend toward utilizing green packaging solutions. Some of the major trends expected during the forecast period are the use of glucaric acid in green packaging, exploration of bio-based materials, integration of sustainable polymers, applications in renewable energy, production methods powered by biotechnology, usage in environment-friendly construction materials, and collective drives toward innovation.
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Which Factors Are Driving the Global Glucaric Acid Market Expansion?
The growth of the glucaric acid market is anticipated to be driven by the increasing demand for eco-friendly and bio-based chemicals. These are substances made from renewable resources through environmentally friendly processes, contributing to sustainability and decreasing fossil fuel dependence. Given the growing environmental concerns and regulatory pressures to curb pollution and carbon footprints, the demand for these chemicals is on the rise. Glucaric acid comes into play here as a biodegradable alternative for multiple applications such as detergents, corrosion inhibitors, and food additives. For example, the International Energy Agency, a France-based government agency, reported in December 2022 that the demand for vegetable oil, waste, and residual oils and fats surged by 56% to 79 million metric tons from 2022 to 2027. Additionally, waste and residues are projected to account for 13% of biofuel production in 2027, a rise from 9% in 2021. With the increasing demand for eco-friendly and bio-based chemicals, the glucaric acid market is expected to flourish.
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Which Segment Currently Holds the Largest Share of the Glucaric Acid Market?
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
Subsegments:
1) By Calcium D-Glucarate: Calcium D-Glucarate Powder, Calcium D-Glucarate Capsules Or Tablets
2) By Pure Glucaric Acid: Pharmaceutical Grade Pure Glucaric Acid, Industrial Grade Pure Glucaric Acid
3) By D-Glucaric Acid-1,4-Lactone: Food Grade D-Glucaric Acid-1,4-Lactone, Pharmaceutical Grade D-Glucaric Acid-1,4-Lactone
4) By Potassium Sodium D-Glucarate: Potassium Sodium D-Glucarate Powder, Potassium Sodium D-Glucarate Tablets
5) By Other Types: Liquid D-Glucaric Acid, Other Specialized Forms
Which Major Trends Are Shaping the Future of the Glucaric Acid Industry?
Key players in the glucaric acid market are valuing strategic investments in order to boost production efficiency and scalability. These strategic investments represent calculated financial support towards achieving overarching goals, ranging from enhancing operational abilities, growing their foothold in the market or pushing innovation in designated business areas. For instance, Solugen, an American biomanufacturing enterprise, made an announcement in June 2024 about a $214 million loan approval from the US Department of Energy. This loan is for financing a biobased chemical plant in Minnesota. The function of the plant will be to leverage enzymatic and chemical processes in the production of glucaric acid, gluconic acid, and hydrogen peroxide. These products cater to industries including concrete, cleaning, agriculture, and oil, which will aid in the development of more efficient and sustainable manufacturing processes.
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Which Key Players Dominate the Glucaric Acid Industry Globally?
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
What Are the Fastest-Growing Regions in the Glucaric Acid Market?
North America was the largest region in the glucaric acid market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the glucaric acid market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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