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Itaconic Acid Market Trends, Opportunities and Forecast up to 2023

11-06-2017 12:58 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: Transparecny Market Research

/ PR Agency: Transparecny Market Research
Itaconic Acid Market Trends, Opportunities and Forecast up

Transparency Market Research has published a new report titled “Itaconic Acid Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023”. According to the report, the global itaconic acid market was valued at US$ 126.4 Mn in 2014 and is anticipated to reach US$ 204.6 Mn by 2023, expanding at a CAGR of 5.5% between 2015 and 2023.

View Full Report: https://www.transparencymarketresearch.com/itaconic-acid-market.html

Asia Pacific dominated the global itaconic acid market both in terms of volume and revenue in 2014. It held a share of more than 50% of the global itaconic acid market in 2014. High concentration of production capacities due to the shutdown of the manufacturing plants of itaconic acid in other parts of the world has led to this growth. The Middle East and Africa region is expected to witness below average growth rates as a result of economic transition; however, the region is expected to witness high growth potential for the period from 2015 to 2023. Latin America is projected to witness a moderate growth rate as demand for itaconic acid is likely to be significant in Brazil, Venezuela, and Argentina. North America is projected to witness a sluggish growth rate during the forecast period due to the closure of manufacturing facilities as a result of limited demand from end-user industries. Similarly, Rhodia has stopped production in France as a result of low volume demand for itaconic acid in the region.

The global itaconic acid market is highly concentrated in nature. Some manufacturers such as Itaconix Corporation and Chengdu Jinkai Biology Engineering Co., Ltd. exhibit a high degree of integration in the second and third stage of the value chain. Key players in the itaconic acid market include Jinan Huaming Biological Technology Co., Ltd., Zhejiang Guoguang Biochemistry Co., Ltd., Itaconix Corporation, Shandong Kaison Biochemical Co., Ltd., and Qingdao Langyatai (Group) Co., Ltd. among others.

Request to view Sample Report: https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=5492

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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend 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.

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