Key Projections on Fumaric Acid Market indicating Industry Size, Demand, Trends and Forecast till 2026

Posted on 2018-06-12 by Mark Hub in Retail // 0 Comments

ROCKVILLE, US, 2018-Jun-12 — /EPR Network/ — Recently, a novel report developed using proven research methodologies at the headquarters of Fact. MR has identified various prominent factors and trends prompting market growth of Fumaric Acid Market. The study is titled as “Fumaric Acid Market Forecast, Trend Analysis & Competition Tracking: Global Review 2017 to 2022”, which deeply analyses the global market trends, with historical data from 2016 and 2017, and projections of compound annual growth rates (CAGRs) during the mentioned forecast of 2017-2026. For the benefit of the readers, the report concludes with a special focus on the detailed profiles of the major vendors in the Global Fumaric Acid Market.

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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 demand for fumaric acid 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.

As per research analysis by Fact.MR on fumaric acid market at a global level, it is expected to soar at a high value CAGR of 6.8% throughout the period of assessment (2017-2026). Moreover, considering current market scenario and forecast analysis done in the study, the sale of fumaric acid across various industrial applications is estimated to reach a value of around US$ 630 Mn by end of the period of forecast (2026).

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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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.

Competition Tracking

Key players operating in the global fumaric acid are Bartek Ingredients, Thirumalai Chemicals, Polynt S.P.A, Nippon Shokubai Co. Ltd., Tianjin Bohai Chemicals, The Chemical Company, Wego Chemical Group and Changzhou Yabang Chemical Co. Ltd.

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About Fact.MR
Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized Industrial Goods Market Research Reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that’s why we publish multi-industry global, regional, and country-specific research reports.

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