Fumaric Acid Market is Expected to Reach US$ 5.69 Bn
by 2022
According to a
new market report published by Credence Research “Fumaric Acid Market - Growth,
Share, Opportunities, Competitive Analysis, and Forecast 2015 - 2021,” the
fumaric acid market was valued at US$ 3.70 Bn in 2015, and is expected to reach
US$ 5.69 Bn by 2022, expanding at a CAGR of 6.3% from 2016 to 2022.
Browse the full Fumaric Acid Market for Food &
Beverages, Unsaturated Polyester Resins (UPR), Alkyd Resins, Printing Inks,
Paper Sizing and Other Applications- Growth, Share, Opportunities, Competitive
Analysis, and Forecast 2015 – 2021 report at http://www.credenceresearch.com/report/fumaric-acid-market
Market Insights
Fumaric acid
which is also known as trans-butenedioic acid is witnessed to experience high
demand from various applications in the global market. The benefits such as
increasing the shelf life of food and flavor enhancement among others are the
major factor for high demand from the food and beverages industry. The growing
demand for unsaturated polyesters resins from the automobile industry is
another factor promoting the growth of global fumaric acid market.
Growing health
awareness among the population has led to adoption of nutritional diets. This
has increased the demand for processed foods and drinks. Therefore, high demand
for fumaric acid is observed, as it is used as preservative for processed foods
and drinks. Rise in use of automobiles in emerging economies is expected to
increase automobile industry in Thailand and Indonesia. Rising economic
conditions in the countries such as China and India has led to high demand for
unsaturated polyester resins thereby leading to growth of fumaric acid in the
market. The benefits such as flavor stability, persistent sour taste, and
greater buffering capacity among other benefits are expected to offer high
opportunities for industrial applications in the market.
Competitive Insights:
Food &
Beverages was leading the application segment with more than 25% share of
global fumaric acid market. The beneficial properties of fumaric acid such as
flavor enhancer, preservative and pH controller are expected to boost market
demand from the food 7 beverages industry. Fumaric acid is used in the
production of bakery, breads, confectionary, desserts, etc. Hence, high demand
for fumaric acid is reported from the food industry. Unsaturated polyester
resins accounted to be the second largest application segment in 2015 and is
expected to retain its market position during the forecast period. High demand
for unsaturated polyester resins from the automobile and marine industries has
led to increased production and demand for fumaric acid. Other application such
as alkyd resins, printing inks, paper sizing, animal feed and cleansing agents
are also projected to offer high opportunities for growth of fumaric acid
market during the forecast period from 2016 to 2022.
For More
Reports Related to This Category @ http://www.credenceresearch.com/industry/chemicals-market
Major players
involved in the production and sales of fumaric acid are focusing on synthesis
of fumaric acid through fermentation processes globally. To increase market
opportunities, the major weapon used by small as well as major players is
backward and forward integration. In-house synthesis of fumaric acid will help
reduce cost of raw material and will add to the product portfolio of the
company. Hence, strong competition is observed between the prominent and major
players in the market.
Key Trends:
Manufacture of
various food products
Potential
substitute to tartaric acid and citric acid
Developments
in the automobile sector
Opportunities
for growth in construction and paints & coatings market
About Us:
Credence
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