Global Fumaric Acid Market Size, Share, Growth, Global Trends, Industry Analysis and Forecast to 2027Price: 3600/- USD | Published Date: September 19, 2020 |
The global fumaric acid market has been projected to grow at the CAGR of 8.4% market during 2020-2027. Growing health awareness among the population has changed the food consumption patterns of people. The busy lifestyle of people has led to high demand for processed foods and drinks. People now prefer nutrition over tasty food, which has given rise to increased demand for packaged food products. Fumaric acid is used on a large scale in the food industry and is used as a food additive, flavor enhancer, and improves the quality of food. It is used as a preservative for packaged foods and is also used in the manufacture of bakery, confectionary, desserts, etc. Therefore, the food & beverage industry is expected to boost the high demand for fumaric acid in the market. Fumaric acid is used in the production of unsaturated polyester resins which are on high demand from the automobile and marine industry.
Growing consumption of ready to eat foods and confectionaries food & beverage industry is expected to boost the high demand for fumaric acid in the market. Fumaric acid is used in the production of unsaturated polyester resins which are on high demand from the automobile and marine industry. Growing demand for vehicles coupled with rising disposable income of people is the major factor contributing to the growth of the automobile industry. High demand for unsaturated polyesters from the automobile and marine industry is therefore expected to drive the growth of the global fumaric acid market.
Market Segment Insights:
Food & beverages accounted for the largest share of the global fumaric acid market in 2019. Fumaric acid is used as a preservative in the food industry. It is also used as a substitute for tartaric acid and is used as a flavor enhancer in the beverage industry. Growing demand for ready to eat food and changing lifestyle of people are some factors driving the growth of the fumaric acid market. Unsaturated polyester resin (UPR) was the second-largest application of fumaric acid in terms of revenue for the year 2019. Increasing demand for unsaturated polyester resins from industries such as marine, automobile, aerospace, etc. has led to high demand for UPR in the market. Rising demand for automobiles from the emerging economies such as the Asia Pacific, especially China and India are expected to fuel demand for unsaturated polyester resins, thereby contributing to the growth of the global fumaric acid market. Hence, UPR is expected to boost high market demand for fumaric acid and is expected to retain its position in the near future due to rising developments globally. Applications such as alkyd resins, printing inks, paper sizing, cleansing agents, and animal feed are reported to experience steady demand during the forecast period from 2020 to 2027.
Global Fumaric Acid Market Segmentation:
By Application, 2018–2027 ($ Millon)
- Food & Beverages
- Unsaturated Polyester Resin (UPR)
- Alkyd Resins
- Printing Inks
- Paper Sizing
- Others (Animal Feed, Cleansing Agent, etc.)
By Geography, 2018-2027 ($ Millon)
- North America
- Asia Pacific
- Latin America (LATAM)
- Middle East and Africa (MEA)
For the purpose of this study, the global fumaric acid market is regionally categorized into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa markets. These regional markets are further sub-segmented into top country-level markets that majorly determine the regional industry trends. The Asia Pacific accounted for the largest share of the global fumaric acid market in 2019. It accounted for more than 30% share of the global fumaric acid market. The changing lifestyle of people and increased demand for processed food has led to high demand for fumaric acid in the region. The rising disposable income of people is another factor promoting the growth of fumaric acid. North America was the second-largest market for fumaric acid in 2019.
Market Competition Assessment:
The major players currently operating in the global fumaric acid market include AshImprovement Technology, Bartek Ingredients, Changzhou Yabang Chemical Co., Ltd, Dastech International Inc., Fuso Chemicals, Nippon Shokubai Co., Ltd., Polynt S.P.A., Prinova LLC, Thirumalai Chemicals, and Tianjin Bohai Chemicals.
List of Key Companies:
- AshImprovement Technology
- Bartek Ingredients
- Changzhou Yabang Chemical Co., Ltd
- Dastech International Inc.
- Fuso Chemicals
- Nippon Shokubai Co., Ltd.
- Polynt S.P.A.
- Prinova LLC
- Thirumalai Chemicals
- Tianjin Bohai Chemicals
Key Questions Answered by Fumaric Acid Market Report
- Global fumaric acid market forecasts from 2020-2027
- Regional fumaric acid market forecasts from 2020-2027 covering Asia-Pacific, North America, Europe, Middle East and Africa, and Latin America
- Country level forecasts from 2020-2027 covering 15 major countries from aforementioned regions
- Fumaric Acid submarket forecasts from 2020-2027 covering submarket 1, submarket 2 submarket 3
- Various industry models such as SWOT analysis, Pestle Analysis, Porter’s Five Force model, Value Chain Analysis pertaining to fumaric acid market
- Analysis of the key factors driving and restraining the growth of the global, regional and country level fumaric acid markets from 2020-2027
- Competitive Landscape and market positioning of top 10 players operating in the fumaric acid market
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Table of Content:
Chapter 1 Preface
1.1 Report Description
1.1.1 Purpose of the Report
1.1.2 Target Audience
1.1.3 USP and Key Offerings
1.2 Research Scope
1.3 Research Methodology
1.3.1 Phase I – Secondary Research
1.3.2 Phase II – Primary Research
1.3.3 Phase III – Expert Panel Review
Chapter 2 Executive Summary
2.1 Fumaric Acid Market Portraiture
2.2 Global Fumaric Acid Market, by Application, 2019 ($ Million)
2.3 Global Fumaric Acid Market, by Geography, 2019 (Value %)
Chapter 3 Global Fumaric Acid Market Analysis
3.1 Global Fumaric Acid Market Overview
3.2 Prevalence of Fumaric Acid
3.3 Market Dynamics
3.3.1 Market Drivers
220.127.116.11 Increasing per-capita disposable income and preference of convenience food
18.104.22.168 Stringent environmental regulations to reduce carbon emissions
3.4 Attractive Investment Proposition
3.5 Competitive Analysis: Global Fumaric Acid Market, 2019 (Value %)
Chapter 4 Global Fumaric Acid Market Analysis, by Application, 2018-2027 ($ Million)
4.2 Food & Beverages
4.3 Unsaturated Polyester Resin (UPR)
4.4 Alkyd Resins
4.5 Printing Inks
4.6 Paper Sizing
4.7 Others (Animal Feed, Cleansing Agent, etc.)
Chapter 5 Global Fumaric Acid Market, by Geography, 2018-2027 ($ Million)
5.1 North America (U.S. & Canada)
5.2 Europe (U.K., Germany & Rest of Europe)
5.3 Asia Pacific (China, Japan, Singapore, South Korea and Rest of APAC)
5.4 Latin America (Mexico, Brazil and Rest of LATAM)
5.5 Middle East and Africa
Chapter 6 Company Profiles
6.1 AshImprovement Technology
6.2 Bartek Ingredients
6.3 Changzhou Yabang Chemical Co., Ltd
6.4 Dastech International Inc.
6.5 Fuso Chemicals
6.6 Nippon Shokubai Co., Ltd.
6.7 Polynt S.P.A.
6.8 Prinova LLC
6.9 Thirumalai Chemicals
6.10 Tianjin Bohai Chemicals.
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