The global Fumaric Acid market is expected to develop US$ 645 Mn by 2032, at a compound annual increase in price (CAGR) of 6.7 % throughout the forecast period.
Increasing applications of fumaric acid will expand the fumaric acid market size during the period of assessment. Food and beverage industry has pushed the sale of fumaric acid higher as it is a major ingredient to prepare drink beverages and food processing. Energy drinks has reached its paramount with higher number of athletes inclination towards energy drinks. Fumaric acid plays key role for stabilizing the beverage and continue its quality over time. Alkyd resins and UPR (Unsaturated Polyester Resins) uses fumaric acid to maintain unsaturated molecular chain. These resins demand will en due to the use in automotive and construction production. This has spurred production and demand of fumaric acid owing to remodeling activities, construction activities and growing automotive industry. However, inhaling the product may cause infection and irritation in nose and throat resulting in sneezing and cold. Fumaric acid over dosage may cause kidney damage.
Asia Pacific leads in terms of consumption of fumaric acid. In that region, China is expected to have high demand for fumaric acid due to the growth of plastic industry along with demand from food & beverage. Similarly, there is certain probability of higher demand arriving from food and beverage industry in countries like Japan, Indonesia, Taiwan, South Korea and India.
Asia pacific is followed by Europe. Europe market is boosted due to the higher demand from building & construction and food & beverages. On-going remodeling and reconstruction activities in Europe resulted in high demand for unsaturated polyester resin. Major consumers of fumaric acid in Europe includes France, the U.K., Germany and Italy. However, strict environmental regulations relate to resin industry in the European Union may restrict the market growth in the upcoming years. Third highest demand of fumaric acid comes from U.S., North America. Other countries like Canada and Mexico too, contribute in the demand due to the climbing demand of breads and tortillas. Growth of polymer resins in Latin America will also boost the demand in the forecast period. However, Middle East higher demand of fumaric acid due to food & beverage will offer a great opportunity to this market.
Based on end users, the global fumaric acid market divided into Food industry, Baked products, Preservatives, Flavoring agents, Fruit juices, Beverage industry, Cosmetic industry, Wine, Body cleaning agents, Chemical industry, Pharmaceutical industry, Paints and raisins. Food and beverage industry fumaric acid consumption has grown up followed by unsaturated alkyd and polyester resins and agriculture industry as feeds for livestock. Medical science has higher acceptance of fumaric acid.
Top players operate the global fumaric acid market include Bartek Ingredients, Polynt S.P.A, Thirumalai Chemicals, Nippon Shokubai Co. Ltd., The Chemical Company, Changzhou Yabang Chemical Co. Ltd., Tianjin Bohai Chemicals and Wego Chemical Group.
Key segments of ‘Global Fumaric Acid Market’
Based on application, the market has been segmented into,
• Food & Beverages
• Rosin Paper Sizes
• Unsaturated Polyester Resins (UPR)
• Alkyd Resins
The market breakdown data by end users,
- Food industry (Preservatives, Baked products and Flavoring agents)
- Beverage industry (Fruit juices and Wine)
- Cosmetic industry (Body cleaning agents)
- Pharmaceutical industry
- Chemical industry (Paints and raisins)
Others Based on region, the market has been segmented into,
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
What to expect from the upcoming report on ‘Global Fumaric Acid Market’:
- Future prospects and current trends of the global fumaric acid market by the end of forecast period (2018-2025)
- Information regarding technological progressions as well as innovations taking place in developing economies
- Supportive initiatives by government likely to influence the market dynamics
- Trends, drivers, opportunities, restraints, challenges and key developments in the market
- In-depth analysis of different market segmentations including regional segmentations, and product types
- Deep analysis about the competitive landscape of the market and the initiatives by them to improve this market