Global $855 Million Fumaric Acid Market Research Report, Size, Share, Trends and Forecast to 2024

global fumaric acid market

New York City, Jun 18, 2019 ( – According to the latest report by IMARC Group titled, “Fumaric Acid Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024“, the market reached a value of US$ 631 Million in 2018. Looking forward, the market is expected to reach a value of US$ 855 Million by 2024, exhibiting a CAGR of around 5% during 2019-2024.

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Fumaric acid (C4H4O4) is a dicarboxylic acid which is formed by the oxidation of succinic acid by succinate dehydrogenase. It is either white or colourless in appearance and occurs naturally in eukaryotes, bolete mushrooms, lichens, Iceland moss. It is also produced by the human body when the skin comes in contact with direct sunlight. Fumaric acid is utilized in the food industry for flavouring purposes owing to its sour taste. It also finds application in the production of industrial dyes, medicines, polyester resins, printing inks and animal feed. 

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Fumaric acid is used in the food and beverage industry as a preservative, pH controller, flavour enhancer and acidulant. The increasing demand for fumaric acid can be attributed to the growing popularity of ready-to-eat food products and beverages. Additionally, it is found in numerous health and sports drinks, the demand for which is rising on account of the increasing health-consciousness among consumers. Apart from this, it is utilized in the construction sector for making unsaturated polyester resins which are further used in the production of auto parts and reinforcement panels. Furthermore, manufacturers are producing bio-based fumaric acid owing to the need for developing new processes based on renewable sources. 

Key Market Segmentation:

Breakup by Application 

Food Additives

Rosin-Sized Sheathing Paper

Unsaturated Polyester Resins

Alkyd Resins

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Breakup by End-Use Industry 

Food and Beverages Industry

Cosmetics Industry 

Pharmaceutical Industry

Chemical Industry

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Breakup by Region

North America

Europe Asia Pacific

The Middle East and Africa

Latin America

Competitive Landscape

The report has also examined the competitive landscape of the global fumaric acid market. Some of the major players in the market are Bartek Ingredients Inc., Fuso Chemical Co., Ltd., Polynt, Prinova Group, Dastech International, Changzhou Yabang Chemical Co. Ltd., Nippon Shokubai, The Chemical Company, Thirumalai Chemicals, Wego Chemical Group, U.S. Chemicals and Huntsman Corporation.

Key highlights of the report:

Market Performance

Market Outlook

Porter’s Five Forces Analysis

Market Drivers and Success Factors

SWOT Analysis Value Chain

Competitive Structure 

Profiles of Key Players

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Source :IMARC Group

This article was originally published by IssueWire. Read the original article here.

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