Global Itaconic Acid Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027
MarketResearch.biz delivers in-depth insights on the global itaconic market in its upcoming report titled, “Global Itaconic Market Trends, Applications, Analysis, Growth, and Forecast: 2018 to 2027”. The global itaconic market is estimated to register a CAGR of X.X% in terms of value during forecast period 2018–2027. The report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global itaconic market report has been segmented on the basis of derivative, application, and region.
Itaconic acid is an important chemical used in the chemical industry, owing to its various applications and benefits. It is basically a white crystalline powder that is bio-degradable, due to which, it is widely used as a substitute for various petro-derived chemicals as acrylic acid, acetone cyanohydrin, maleic anhydride, etc. Itaconic acid is used as a cross-linking agent owing to its ability to efficiently take part in addition polymerization.
Rising demand for itaconic acid primarily due to its use in production of unsaturated polyester resin (UPR) is a major factor driving growth of the global itaconic acid market. UPR is an integral resin used in manufacture of fiber reinforced polymer (FRP) composites, artificial stones, and laminating resins. In addition, growing demand for bio-based unsaturated polyester resin is another factor fueling demand for itaconic acid which in turn is boosting growth of the global itaconic acid market over the forecast period.
However, high costs associated with production of itaconic acid is a major factor restraining growth of the global itaconic acid market. Additionally, availability of substitutes of itaconic acid that can be used in various applications coupled with lack of proper technology that can be used for mass production of itaconic acid are other factors expected to hamper growth of the global itaconic market over the forecast period.
Currently, the market in Asia Pacific dominates the global itaconic market in revenue terms owing to growing demand for itaconic acid from various end use industries in the region. The market in Europe accounted for second-highest revenue share in the global itaconic market, due to increasing adoption of itaconic acid in various industries in countries in the region, followed by markets in Asia Pacific, Latin America, and Middle East & Africa respectively. The market in Asia Pacific is projected to witness fastest growth in terms of revenue, owing to rapid industrialization and increasing influx of foreign direct investment (FDI) in countries in the region.
Global itaconic market segmentation:
- Styrene Butadiene Itaconic Acid
- Methyl Methacrylate
- Polyitaconic Acid
- SBR Latex
- Synthetic Latex
- Chillant Dispersant Agent
- Superabsorbent Polymers
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Itaconix Corporation
- Chengdu Jinkai Biology Engineering Co. Ltd.
- Jinan Huaming Biological Technology Co. Ltd.
- Zhejiang Guoguang Biochemistry Co. Ltd.
- Shandong Kaison Biochemical Co. Ltd.
- Qingdao Langyatai (Group) Co., Ltd.
- Ronas Chemicals Ind. Co. Ltd.
- Aekyung Petrochemical Co., Ltd.
- Iwata Chemical Co. Ltd.
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