The report studies the fumaric acid market worldwide, especially in North America, Europe, Southeast Asia, India and Other Regions with production, size, growth, revenue, consumption, import and export in these regions. The intelligent report also anticipates that the fumaric acid market would grow at a constructive CAGR until 2026. In order to study the various trends and patterns prevailing in the concerned market, FactMR has included a new report titled “Fumaric Acid Market Indicates Notable CAGR growth at (6.8%) until 2026” to its wide online database including upcoming trends and growth factors. This research assessment offers a clear insight about the influential factors that are expected to transform the global market in the near future.
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Growing applications of fumaric acid continue to support the global market’s growth during the period assessment. Since past few years, application of fumaric acid has risen across various end use industries. Food and beverage sector plays a major role in pushing the sale of fumaric acid where it is used in food processing as well as in ready to drink beverages. The demand for energy drinks has reached its peak as increasing number of athletes are showing high inclination toward energy drinks. Fumaric acid plays a vital role in energy drink manufacturing, for stabilizing the beverage and in maintaining its quality over time. On the other hand, the main use of fumaric acid in UPR (Unsaturated Polyester Resins) and alkyd resins is to maintain the unsaturated molecular chain. Alkyd resins and unsaturated polyester resins’ demand is expected to rise in the coming years as they are widely used in construction and automotive production. This has spurred the demand and production of fumaric acid across the globe owing to increasing construction activities, remodeling activities and growing automotive industry.
Global market for fumaric acid is expected to witness a stellar growth in the years to follow. Key players are focusing on improvising their manufacturing process to achieve higher production capacities and quality fumaric acid. This is to cater to the growing demand of fumaric acid in preservatives, bakery products, as flavoring agents, in wine, in juices, paints, resins, as well as body cleansing agents.
As per research analysis by FactMR 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).
Asia Pacific excluding Japan (APEJ) region is known as the manufacturing hub where several manufacturers have set up plants to cater to the growing needs of the population in their respective domains. Chemical companies have tapped the Indian market due to various reasons for instance, cheap land availability and labor. The use of fumaric acid in chemicals, especially in manufacturing of resins and paints has driven its consumption in the region since last decade. Moreover, the food and beverage industry in APEJ is also expected to grow at a high scale. Driven by increasing health awareness and foody nature of the population in this region, several food innovations and introduction of various health products has been witnessed. This has spurred the use of fumaric acid in the region as it is used in producing various energy drinks, health beverages and other food products. Fumaric acid is mainly used for its preservation qualities and maintaining the taste, texture and color of the food item. Consumption of fumaric acid in APEJ is projected to grow at a comparatively higher rate of over 7% during the period of forecast.
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.
Table of Content:
- Global Economic Outlook
- Global Fumaric Acid Market – Executive Summary
2.1. Opportunity Analysis & Megatrends
- Global Fumaric Acid Market Overview
3.1.1. Global Fumaric Acid Market Taxonomy
3.1.2. Global Fumaric Acid Market Definition
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