The impact of the COVID-19 outbreak has compelled several manufacturers and industries to rethink their operations to gradually recover from the losses incurred for years to come. The organic chemicals industry suffered a huge setback due to halted production and a limited supply of raw materials.
The report offers actionable and valuable market insights of Fumaric Acid. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Fumaric Acid Market across various industries and regions.
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The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Fumaric Acid market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Fumaric Acid
This newly published and insightful report sheds light on Market Insights of Fumaric Acid, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Fumaric Acid Market.
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 fumaric acid market 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.
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.
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Countries in Asia Pacific Excluding Japan to Showcase High Consumption of Fumaric Acid
Asia Pacific excluding Japan (APEJ) region has presented favorable business opportunities for several companies. Manufacturers are targeting this region owing to its growing attractiveness with respect to demand for food products, beverages, resins, paints and cosmetics. The pharmaceutical and chemical industries have gained high traction in the emerging economies in APEJ. Need for quality maintenance, regulation of pH and controlling reactivity of various medicines and chemicals is expected to push the use of fumaric acid. As per research, high production of fumaric acid is observed in China, who is also its biggest exporter. Food and beverage industry in India and China is poised to witness an upsurge in the coming years.
This fact is supported by increasing population in these countries, which is demanding for new innovations in food and beverages. Fumaric acid being a stabilizing agent, is widely used in various juices, energy shakes and drinks. Higher consumption of energy drinks and processed food is expected to spur the demand for fumaric acid in APEJ. According to Fact.MR, fumaric acid production in China is expected to reach more than186 thousand tons and in entire APEJ region is poised to touch around 300 thousand tons by the end of the year of assessment (2026). With respect to production and sale, China is the leading country, however, use of fumaric acid in India is expected to grow at a relatively higher rate during the forecast period.
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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More Valuable Insights on Fumaric Acid Market
Fact.MR, in its new report, offers an unbiased Market Analysis of Fumaric Acid, Sales and Demand of Fumaric Acid, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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