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 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).
Asia Pacific Excluding Japan (APEJ) to Offer Lucrative Opportunities for Fumaric Acid
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.
|End Use Industry||
(Additional information, including cross-sectional data and country-wise analysis & forecast is available in the report)
Use of fumaric acid has extended from food industry to cosmetics and pharmaceuticals. The increasing adoption of fumaric acid in cosmetic, pharmaceutical and chemical industries is expected to spur the growth of the global fumaric acid market during the assessment period. Also, application of fumaric acid in food industry is high as producers of food products focus on food quality maintenance. Fumaric acid offers advantages such as color preservation, texture maintenance and the overall quality of the food product. This has triggered the sale of fumaric acid in various applications in the food industry. However, aspects associated with fumaric acid, such as irritation in the respiratory tract and chances of explosion can inhibit the growth of the global fumaric acid market.
After thoroughly analyzing the global market for fumaric acid, Fact.MR has presented vital insights on the global market in its recent research publication titled global fumaric acid market. The research report covers various facets of the global market that impact its growth. The research report also covers detailed analysis on various geographies to gain a complete understanding of the market standing few years down the line. The research study includes analysis of data on present market scenario as well as forecasts for a period of nine years, from 2017 till 2026. The reader can gain high level insights of the market that can be used to make informed decisions from expansion and strategic standpoints.
Covering a global scenario
The research report on global fumaric acid market covers several aspects across key regions in the globe. Regions of North America, Latin America, Europe, Asia Pacific excluding Japan, Japan and Middle East and Africa are studied and the impact of macro and socio economic aspects in these regions influencing growth of the global market is analyzed. A 3600 perspective is portrayed in this research report thus giving a holistic touch to the research study. In addition, potential regions reflecting high growth opportunities are identified that can support the reader to tap key revenue pockets across the globe. The research report on global fumaric acid also supports the reader in investment decisions pertaining to application areas of fumaric acid and key end use industries. The analysis of the research data portrays an unbiased scrutiny of the global fumaric acid market giving a realistic shape to the actionable insights derived from the study.
Unique research methodology
A one-of-its kind research methodology is applied by Fact.MR to obtain highly accurate data with reduced deviations. Based on an in-depth market segmentation, the entire fumaric acid market is churned with the help of a secondary research. As the research progresses, several primary interviews are carried out to deep dive in the global market. Industry experts, influencers, market observers and though leaders associated with fumaric acid are interviewed to sketch a realistic contour of the global market. With the help of triangulation procedure, the data from secondary and primary research is collated and extrapolated to arrive at a high accuracy data point. This process is carried out for all market segments and regions and analysis is forecasting is carried out depicting future market scenario.
Efficient competitive assessment
The research report on global fumaric acid market covers a separate section on competition landscape which describes the analysis of key players involved. This section describes several details of the key players such as company overview, SWOT analysis, key developments and innovations, market share and revenue analysis, product portfolio, mergers and acquisitions and several other key financials. This intelligence dashboard gives a complete picture of the active players in the global fumaric acid market, with which can be used to gain competitive advantage in the years to follow.
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