- Press Release -

As per industry analysis on fumaric acid by - Fact.MR market research and competitive intelligence provider, the business is anticipated to be valued at US$ 440 Mn by 2021 end, expanding at a healthy CAGR of 6.7% over the forecast period 2022-2032.

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 inferred the production volume of fumaric acid would grow above 503 Kilo 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 6.4% during the period of forecast, 2022-2032, which is supported by growing acceptance of fumaric acid in several end user applications in the said period.

Key Takeaways from Study

• 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 anticipated to go beyond 8% during the forecast 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 maximum market share
• 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, 2021-2031

“Substitutes like Citric Acid & Maleic Acid Impose Threats to the Growth of Fumaric Acid Market” says a Fact.MR analyst.

Winning Strategy

Manufacturers have been focusing on strategic collaborations to increase their revenue earnings and subsequently market share for fumaric acids. Leading market players have also been investing in product development in terms of quality. There are numerous market players operating across the globe, 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.

More Valuable Insights

Fact.MR, in its new offering, presents an unbiased analysis of the global fumaric acid market, presenting historical market data (2016-2020) and forecast statistics for the period of 2021-2031.

The study reveals essential insights on the basis of Extraction Type (Fumaria Officinalis, Maleic Anhydride, Fermentation), End-Use Industry (Food and Beverage Industry, Cosmetic Industry, Pharmaceutical Industry, Chemical Industry), Application (Food Additives, Rosin Paper Sizes, Unsaturated Polyester Resins (UPR), Alkyd Resins, Animal Feed, Others), and across key regions namely North America, Latin America, Europe, East Asia, South Asia & Oceania and Middle East & Africa.

About the Chemical and Material Division at Fact.MR

Expert analysis, actionable insights, and strategic recommendations of the highly seasoned chemical and material team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over thousand reports and 1 million-plus data points, the team has analysed the chemical industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.

For more information, refer to our market research report or contact the PR author.

Yash Pathak

Fact.MR

Sr. Consultant – Chemical and Material

E-mail: yash@factmr.com