Global fumaric acid market size is anticipated to be valued at USD 764.8
million by 2020, as per a new research report by HexaResearch. Growing
processed food demand coupled with RTD (ready-to-drink) beverages consumption
is expected to drive market. Energy drink consumption by athletes coupled with
innovation in flavors for food & beverages is likely to surge market growth.
Fumaric acid used as an intermediate in unsaturated polyester resins (UPR) is
set to grow owing to increasing infrastructure spending in countries such as
China, India and Brazil. Stringent government regulations to curb carbon
emissions are expected to challenge the industry.
Food & beverages dominated the application segment with a market
share of 34.3% in 2013. This application is likely to witness significant
growth rates with an estimated CAGR of 7.0% up to 2020. Fumaric acid properties
such as flavor enhancer, pH controller and micro-organism growth controller
favor its demand in food & beverages. UPR application is likely to grow at
moderate rates of 5.8% up to 2020. Growth in UPR consumption for automobile
production particularly in Asia economies of Indonesia, Thailand, India and
China is anticipated to drive the market growth.
Browse Full Report with TOC @ https://www.hexaresearch.com/research-report/fumaric-acid-market
Key report insights suggest:
- Global fumaric acid market size was estimated at 233.3 kilo tons in
2013 and is expected to register 346.2 kilo tons by 2020 growing with an
estimated CAGR of 5.9% from 2014 to 2020.
- Asia Pacific dominated the regional market with a share of 61.5% in
2013 and is expected grow at higher growth rates up to 2020. Increasing
per-capita disposable income and preference of convenience food owing to hectic
lifestyle is expected to drive the regional demand.
- North America was the second largest regional market and is likely to
witness growth rates estimated at 4.1% from 2014 to 2020. Growing popularity of
sports drink particularly in U.S. is expected to drive regional demand.
European market is likely to cross USD 80 million by 2020 owing to preference
of convenience food consumption.
- Moderately consolidated fumaric acid market consists of MNCs and
domestic companies. These companies include Polynt, Prinova, Fuso Chemicals and
Bartek Ingredients. Other prominent companies include Dastech International
Inc, Thirumalai Chemicals, U.S. Chemicals LLC and Nippon Shokbai.
Browse Related Category Market Reports @ https://www.hexaresearch.com/research-category/bulk-chemicals-industry
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