Global fumaric acid market size is expected to reach 346.2 kilo tons by 2020, growing at a CAGR of 5.9% from 2014 to 2020.
Increase in convenience food demand coupled with growing ready-to-drink (RTD) beverages is expected to drive fumaric acid market over the next six years. Fumaric acid is used as an acidulant to increase the shelf life in food & beverages application. It also provides pH adjustment and flavor enhancing properties in food & beverages. Global fumaric acid prices are estimated to be stable over the past few years owing to increasing demand of acidulants from food & beverages industry.
Growing trend towards adoption of nutritional diet coupled with increasing health consciousness among consumers is anticipated to drive healthy food & beverages consumption. This factor is expected to positively influence the demand.
Global market is witnessing a shift towards energy drinks consumption coupled with introduction of new ethnic and exotic flavors in food & beverages industry. Global decline in average household size is expected to increase packaged food demand. Global beverage consumption was more than 650,000 million liters in 2012 and is expected to cross 800,000 million liters by 2017. These factors are expected to drive demand for food & beverages application.
Request a sample copy of the fumaric acid market report @ http://www.hexaresearch.com/sample/287
Increasing unsaturated polyester resins (UPR) and paints demand from increasing infrastructure spending coupled with growing automobile production particularly in countries such as China, India and Brazil is likely to surge the demand. UPR is used in construction applications such as anchoring grout, concrete, mortars and coatings whereas in automotive industry, it is used as body filler for reconstruction and repair of damaged parts of vehicles
The Chinese construction industry recorded a double digit growth in the years 2008 to 2012. In 2011 the industry was valued at USD 521.9 billion and is expected to surpass USD 1,194 billion by 2018 growing at a CAGR of 13.2% from 2012 to 2018 Global motor sales registered approximately 85 million units in 2013 increasing by 4% as compared to 2012. Passenger cars contributed approximately 63 million units and remaining by commercial sale with 22 million units in 2013. Global automobile production is expected to exceed more than 100 million units by 2017.
Global food & beverages industry may use fumaric acid instead of tartaric & citric acid for snack & syrup applications. Stringent environmental regulations owing to reduce carbon emissions are expected to challenge industry participants. Increasing investments through research for developing fumaric acid from bio-based contents are expected to open new avenues in industry.
Browse related category market reports @
Food & beverages was the largest application segment with a market valuation of over USD 150 million in 2013. Shift in trend towards packaged food consumption owing to hectic lifestyles is expected to drive the demand.
Rosin paper sizes were the second largest application and accounted close to 20% of the market share in 2013. This application is expected to witness sluggish growth rates of over 5% from 2014 to 2020 owing to growing use of alkaline papermaking.
UPR application accounted for over 15% of the total demand in 2013 and is expected to witness average growth rates of approximately 6% from 2014 to 2020. Fumaric acid is used as an intermediate for UPR production for construction and automobile applications. UPR is also used in end-use industry applications such as tanks, marine, aerospace and pipes.
Other application includes pharmaceuticals, feed additives, plasticizers, lacquers and lubricating oil.
Asia Pacific fumaric acid market dominated the regional market with registering revenues exceeding USD 250 million in 2013. Increasing processed food demand coupled with growing per-capita middle class disposable income is countries such as China and India is expected to drive market.
North America was the second largest regional market in 2013 and is expected to witness moderate gains of over 4% up to 2020. European market was valued at over USD 60 million in 2013 and is expected to witness below average growth rates. Europe is expected to grow owing to growing convenience food demand and presence of automobile manufacturers in countries such as Germany, France and UK.
Competitive Market Share
Few large scale manufacturers such as Prinova LLC, Bartek Ingredients, Fuso chemicals and Polynt S.P.A. dominate the global fumaric acid market share. Industry participants are focusing on innovation to develop product for niche application and expand their market share. Other prominent companies include Thirumalai Chemicals, Dastech International Inc., Nippon Shokbai Co. Ltd, Xilong Chemical Company Ltd, The Chemical Company, Tianjin Bohai Chemicals, U.S. Chemicals LLC, Changzhou Yabang Chemical Co. Ltd and Wego Chemicals & Mineral Corp.
Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.
Company Name: Hexa Research
Contact Person: Michelle Thoras and Ryan Shaw
Address:Felton Office Plaza, 6265 Highway 9
Country: United States