Itaconic Acid Market to Record an Exponential CAGR by 2023


Transparency Market Research has published a new report titled “Itaconic Acid Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023”. According to the report, the global itaconic acid market was valued at US$ 126.4 Mn in 2014 and is anticipated to reach US$ 204.6 Mn by 2023, expanding at a CAGR of 5.5% between 2015 and 2023.

Read Report Overview @

Itaconic acid is an important building block in the chemical industry. It is a white crystalline powder and readily biodegrades in soil. Hence, it is an optimum substitute for petro-derived chemicals such as acrylic acid, maleic anhydride, or acetone cyanohydrin in various end-user industries. The demand for itaconic acid is high in the manufacturing of superabsorbent polymers (SAP). Itaconic acid is used as a cross-linking agent due to its ability to efficiently take part in addition polymerization. SAP is readily used in diapers, adult incontinence, and feminine hygiene products. It also finds large application in seed coating, root dipping, ornamental gardens, food packaging, and artificial snow. Moreover, increasing demand for unsaturated polyester resins (UPR) in pipes, artificial stones, electrical cabinets, and laminating resins is expected to increase the demand for itaconic acid. High price of itaconic acid is the major factor hampering the growth of itaconic acid market. The prices of itaconic acid are currently higher than its counterparts and hence, the potential for replacement is less significant. However, the growth potential is slated to rise in the near future due to the ongoing development and exploration of novel production technology.

Synthetic latex was the largest application segment of the itaconic acid market in terms of volume in 2014 and held more than 55% share of the global itaconic acid market. The segment is expected to witness the second fastest growth rate during the forecast period. Detergents application segment is projected to be a sluggish growing market from 2015 to 2023. Poly itaconic acid (a derivative of itaconic acid) has the potential to replace sodium tripolyphospate in detergents. However, strong establishment of other phosphate-free builders impedes the growth of itaconic acid in detergents application. Others application segment such as lubricant oil, adhesives, paints & coatings, pharmaceuticals, emulsifiers, herbicides, printing chemicals, and acrylic fiber is expected to expand at a moderate rate from 2015 to 2023.

Request to view Sample Report:

The global itaconic acid market is highly concentrated in nature; the top three players accounted for more than 60% share in 2014. Key players in the itaconic acid market include: Itaconix Corporation, Chengdu Jinkai Biology Engineering Co., Ltd., Jinan Huaming Biological Technology Co., Ltd., Zhejiang Guoguang Biochemistry Co., Ltd., Shandong Kaison Biochemical Co., Ltd., and Qingdao Langyatai (Group) Co., Ltd. among others.




About Us

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

Contact

Transparency Market Research
State Tower,
90 State Street,
Suite 700,
Albany NY - 12207
United States
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com


Comments

Post a Comment

Popular posts from this blog

Sodium Cocoyl Isethionate Market to Undertake Strapping Growth During 2026

The global sodium cocoyl isethionate market was valued at US$ 137.8 Mn in 2017 and is anticipated to expand at a CAGR of 5.3% from 2018 to 2026, according to a new report titled ‘Sodium Cocoyl Isethionate Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026,’ published by Transparency Market Research (TMR). Rise in consumer preference for sulfate-free skin friendly products is likely to propel the demand for sodium cocoyl isethionate during the forecast period. Read Report Overview @ https://www.transparencymarketresearch.com/sodium-cocoyl-isethionate-market-2018-2026.html Increase in Demand for Sulfate-free Formulations in Personal Care Products to Drive Market Sodium cocoyl isethionate is a mild surfactant that offers excellent detergent properties. It is mild on the skin and leaves a soft after-feel. Extensive usage of sodium cocoyl isethionate as mild surfactant in hair care and skin care products has created oppor...
Keep reading

High-performance Anti-corrosion Coatings Market to Record an Exponential CAGR by 2024

The global high-performance anti-corrosion coatings market was valued at US$ 12.60 Bn in 2017 and is anticipated to expand at a CAGR of 5.9% from 2018 to 2026, according to a new report titled ‘High-performance Anti-corrosion Coatings Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026,’ published by Transparency Market Research (TMR). The global high-performance anti-corrosion coatings market is driven by growth of the global oil & gas industry. Asia Pacific accounts for a major share of the global market, due to growth of construction, marine, and oil & gas industries in the region. Read Report Overview @ https://www.transparencymarketresearch.com/high-performance-anticorrosion-coatings-market.html The number of oil & gas drilling and exploration activities has increased in the last few years. The Gulf of Mexico, Southeast Asia, and North Sea are currently rich in oil & gas resources and they have a large ...
Keep reading

Tattoo Inks Market to Undertake Strapping Growth During 2026

Submitted 1 sec ago by  TMR Market research . The global tattoo inks market was valued at US$ 122.25 Mn in 2017. It is anticipated to expand at a CAGR of 5.55% from 2018 to 2026, according to a new research report titled ‘Tattoo Inks Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026,’ published by Transparency Market Research (TMR) The global tattoo inks market is driven by rise in the popularity of tattoos among youngsters worldwide. In terms of demand, North America accounts for a dominant share of the global tattoo inks market. Read Report Overview @ https://www.transparencymarketresearch.com/tattoo-inks-market.html Rise in Demand for Tattoos among Youngsters to Boost Market Tattooing is an increasing fashion phenomenon that has attracted more than 100 million young adults across the globe to date. According to the Council of Europe, one in five individuals in the U.K. is tattooed. The figure rises to one in thre...
Keep reading