According to the latest report by IMARC Group “Fumaric Acid Market Size: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026“, The global fumaric acid market reached a value of US$ 660.9 Million in 2020. Looking forward, IMARC Group expects the market to exhibit moderate growth during 2021-2026.
Fumaric acid, or trans-butenedioic acid, is a chemical compound that appears as a colorless crystalline solid. It has a fruit-like taste and is produced by the synthesis of petroleum-based chemicals. Fumaric acid helps in generating energy from food in the form of adenosine triphosphate (ATP). It is the primary intermediate in the tricarboxylic acid cycle involved in organic acid biosynthesis in living beings.
Market Trends:
The global fumaric acid market is primarily driven by its increasing applications in various industries. The rising demand for processed food and ready-to-drink beverages has escalated its demand as fumaric acid acts as an acidulant, preservative, pH adjusting agents and flavor enhancer in the food and beverage industry. In the plastic industry, fumaric acid is employed to manufacture unsaturated polyester resin and alkyd resins, which are used in the building and construction industry. Besides this, with the rising health consciousness, more individuals are becoming incline toward health drinks and nutritional bars containing fumaric acid. Furthermore, several manufacturers have introduced bio-based fumaric acid to develop new processes based on renewable sources. These factors are expected to provide a positive outlook to the market in the coming years.
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We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Fumaric Acid Market Coverage and Segmentation 2021-2026:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Bartek Ingredients Inc.
- Dastech International
- Fuso Chemical Co., Ltd.
- Polynt
- Prinova Group
- Changzhou Yabang Chemical Co. Ltd.
- Nippon Shokubai
- The Chemical Company
- Thirumalai Chemicals
- U.S. Chemicals
- Wego Chemical Group
- Huntsman Corporation.
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The report has segmented the market on the basis of Product Type, End-User and Region.
Breakup by Application:
- Food Additives
- Rosin-Sized Sheathing Paper
- Unsaturated Polyester Resins
- Alkyd Resins
- Others
Breakup by End-Use:
- Food and Beverages Industry
- Cosmetics Industry
- Pharmaceutical Industry
- Chemical Industry
- Others
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
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