+353-1-416-8900REST OF WORLD
+44-20-3973-8888REST OF WORLD
1-917-300-0470EAST COAST U.S
1-800-526-8630U.S. (TOLL FREE)

Fumaric Acid Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

  • PDF Icon

    Report

  • 107 Pages
  • January 2023
  • Region: Global
  • IMARC Group
  • ID: 5732810

Quick Summary:

In the soothing world of pastries and beverages, lies one of the greatest unsung heroes of flavor - fumaric acid. An organic compound that not only acts as a savory savior for your bakery goods and drinks but also finds a place on your vanity as it takes the form of cosmetics. This omnipresent acid surprisingly does not end here. It continues to evolve into forms such as synthetic resins, plastics, and animal feed and in many more unexpected ways in our daily life.

The pervasive existence and ever-increasing applications of fumaric acid have set a progressive pace in the global market. From the realms of confectioneries, to the body panels of vehicles, and even in the construction industry, fumaric acid plays a fundamental role. Moreover, innovations in bio-based fumaric acid production are expected to drive the market even further. Combined with the rising trend of health consciousness and demand for nutrient-rich, flavor-enhanced food and drinks, the fumaric acid market presents a profusion of investment opportunities. Increased endeavors in infrastructural development globally and the thriving automotive industry further contribute to the compelling potential of this market. This market report offers a comprehensive analysis of trends across application and end-use segments, providing crucial strategic insights for decision-makers looking at investing in the fumaric acid market.

The global fumaric acid market size reached US$ 740.5 Million in 2022. Looking forward, the publisher expects the market to reach US$ 980.4 Million by 2028, exhibiting a CAGR of 4.79% during 2022-2028.

Fumaric acid is a colorless, crystalline organic compound biologically sourced from lichens, Iceland mosses, eukaryotes, and bolete mushrooms. It helps produce energy from food in the form of adenosine triphosphate (ATP) and is commonly used as a preservative, acidulant, pH adjusting agent, and flavor enhancer in bakery products, confectioneries, energy drinks, and desserts. Besides this, it acts as a substitute for tartaric acid in energy drinks and baking powders. In addition, fumaric acid finds extensive application in the production of pharmaceutical products, cosmetics, animal feed, cleaning agents, synthetic resins, paints, and plastics.

Global Fumaric Acid Market Trends:

Unhealthy dietary patterns and sedentary lifestyles of individuals are leading to the prevalence of various lifestyle disorders, such as obesity, diabetes, and hypertension, among the masses. In addition, significant growth in the health-conscious population is catalyzing the demand for nutrient-rich food products prepared using fumaric acid to stabilize and enhance their flavor and aroma. This can also be attributed to the escalating demand for energy drinks, alcoholic beverages, and processed food items. Furthermore, extensive infrastructural development across the globe and increasing investments in reconstruction, renovation, and remodeling activities are favoring the usage of fumaric acid in the manufacturing of unsaturated polyester resins, alkyd resins, and construction activities. Additionally, the burgeoning automotive industry is catalyzing the demand for fumaric acid-based unsaturated polyester resins (UPRs) in manufacturing the body panels for heavy and light-duty vehicles with enhanced durability and high resistance to chemical corrosion. Moreover, leading industry players are producing bio-based fumaric acid due to the rising need for introducing new processes based on renewable sources. This, in turn, is anticipated to drive the market.

Key Market Segmentation:

The publisher provides an analysis of the key trends in each sub-segment of the global fumaric acid market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on application and end-use industry.

Breakup by Application:

  • Food Additives
  • Rosin-Sized Sheathing Paper
  • Unsaturated Polyester Resins
  • Alkyd Resins
  • Others
Based on the application, the market has been segmented into food additives, rosin-sized sheathing paper, unsaturated polyester resins, alkyd resins and others. Food additives currently represent the biggest application segment.

Breakup by End-Use Industry:

  • Food and Beverages Industry
  • Cosmetics Industry
  • Pharmaceutical Industry
  • Chemical Industry
  • Others
Based on the end-use industry, the market has been segmented into food and beverages, cosmetics, pharmaceuticals, chemicals and others.

Breakup by Region:

  • Asia Pacific
  • North America
  • Europe
  • Middle East and Africa
  • Latin America
On a geographical front, the market has been categorized into Asia Pacific, North America, Europe, Middle East and Africa, and Latin America. Amongst these, Asia Pacific is the biggest market for fumaric acid, accounting for the majority of the global share.

Competitive Landscape:

The competitive landscape of the market has also been examined with some of the key players being 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 and Huntsman Corporation.

Key Questions Answered in This Report

1. What was the size of the global fumaric acid market in 2022?
2. What is the expected growth rate of the global fumaric acid market during 2023-2028?
3. What are the key factors driving the global fumaric acid market?
4. What has been the impact of COVID-19 on the global fumaric acid market?
5. What is the breakup of the global fumaric acid market based on the application?
6. What is the breakup of the global fumaric acid market based on the end-use industry?
7. What are the key regions in the global fumaric acid market?
8. Who are the key players/companies in the global fumaric acid market?
Frequently Asked Questions about the Fumaric Acid Market

What is the estimated value of the Fumaric Acid Market?

The Fumaric Acid Market was estimated to be valued at $740.5 Million in 2022.

What is the growth rate of the Fumaric Acid Market?

The growth rate of the Fumaric Acid Market is 4.7%, with an estimated value of $980.4 Million by 2028.

What is the forecasted size of the Fumaric Acid Market?

The Fumaric Acid Market is estimated to be worth $980.4 Million by 2028.

Who are the key companies in the Fumaric Acid Market?

Key companies in the Fumaric Acid Market 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 and U.S. Chemicals.

Table of Contents

1 Preface

2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology

3 Executive Summary

4 Introduction
4.1 Overview
4.2 Properties
4.3 Key Industry Trends

5 Global Fumaric Acid Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Breakup by Application
5.5 Market Breakup by End-Use Industry
5.6 Market Breakup by Region
5.7 Market Forecast

6 Market Breakup by Application
6.1 Food Additives
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Rosin-Sized Sheathing Paper
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Unsaturated Polyester Resins
6.3.1 Market Trends
6.3.2 Market Forecast
6.4 Alkyd Resins
6.4.1 Market Trends
6.4.2 Market Forecast
6.5 Others
6.5.1 Market Trends
6.5.2 Market Forecast

7 Market Breakup by End-Use Industry
7.1 Food and Beverages Industry
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Cosmetics Industry
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Pharmaceutical Industry
7.3.1 Market Trends
7.3.2 Market Forecast
7.4 Chemical Industry
7.4.1 Market Trends
7.4.2 Market Forecast
7.5 Others
7.5.1 Market Trends
7.5.2 Market Forecast

8 Market Breakup by Region
8.1 Asia Pacific
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 North America
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Europe
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Middle East and Africa
8.4.1 Market Trends
8.4.2 Market Forecast
8.5 Latin America
8.5.1 Market Trends
8.5.2 Market Forecast

9 Global Fumaric Acid Industry: SWOT Analysis
9.1 Overview
9.2 Strengths
9.3 Weaknesses
9.4 Opportunities
9.5 Threats

10 Global Fumaric Acid Industry: Value Chain Analysis
10.1 Overview
10.2 Research and Development
10.3 Raw Material Procurement
10.4 Manufacturing
10.5 Marketing
10.6 Distribution
10.7 End-Use

11 Global Fumaric Acid Industry: Porters Five Forces Analysis
11.1 Overview
11.2 Bargaining Power of Buyers
11.3 Bargaining Power of Suppliers
11.4 Degree of Competition
11.5 Threat of New Entrants
11.6 Threat of Substitutes

12 Global Fumaric Acid Industry: Price Analysis
12.1 Price Indicators
12.2 Price Structure
12.3 Margin Analysis

13 Fumaric Acid Manufacturing Process
13.1 Product Overview
13.2 Raw Material Requirements
13.3 Manufacturing Process
13.4 Key Success and Risk Factors

14 Competitive Landscape
14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
14.3.1 Bartek Ingredients Inc.
14.3.2 Dastech International
14.3.3 Fuso Chemical Co., Ltd.
14.3.4 Polynt
14.3.5 Prinova Group
14.3.6 Changzhou Yabang Chemical Co. Ltd.
14.3.7 Nippon Shokubai
14.3.8 The Chemical Company
14.3.9 Thirumalai Chemicals
14.3.10 U.S. Chemicals
14.3.11 Wego Chemical Group
14.3.12 Huntsman Corporation

List of Figures
Figure 1: Global: Fumaric Acid Market: Major Drivers and Challenges
Figure 2: Global: Fumaric Acid Market: Sales Value (in Million US$), 2017-2022
Figure 3: Global: Fumaric Acid Market: Breakup by Application (in %), 2022
Figure 4: Global: Fumaric Acid Market: Breakup by End-Use Industry (in %), 2022
Figure 5: Global: Fumaric Acid Market: Breakup by Region (in %), 2022
Figure 6: Global: Fumaric Acid Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 7: Global: Fumaric Acid Industry: SWOT Analysis
Figure 8: Global: Fumaric Acid Industry: Value Chain Analysis
Figure 9: Global: Fumaric Acid Industry: Porter’s Five Forces Analysis
Figure 10: Global: Fumaric Acid (Food Additives) Market: Sales Value (in Million US$), 2017 & 2022
Figure 11: Global: Fumaric Acid (Food Additives) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 12: Global: Fumaric Acid (Rosin-Sized Sheathing Paper) Market: Sales Value (in Million US$), 2017 & 2022
Figure 13: Global: Fumaric Acid (Rosin-Sized Sheathing Paper) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 14: Global: Fumaric Acid (Unsaturated Polyester Resins) Market: Sales Value (in Million US$), 2017 & 2022
Figure 15: Global: Fumaric Acid (Unsaturated Polyester Resins) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 16: Global: Fumaric Acid (Alkyd Resins) Market: Sales Value (in Million US$), 2017 & 2022
Figure 17: Global: Fumaric Acid (Alkyd Resins) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 18: Global: Fumaric Acid (Other Applications) Market: Sales Value (in Million US$), 2017 & 2022
Figure 19: Global: Fumaric Acid (Other Applications) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 20: Global: Fumaric Acid (Food and Beverage Industry) Market: Sales Value (in Million US$), 2017 & 2022
Figure 21: Global: Fumaric Acid (Food and Beverage Industry) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 22: Global: Fumaric Acid (Cosmetics Industry) Market: Sales Value (in Million US$), 2017 & 2022
Figure 23: Global: Fumaric Acid (Cosmetics Industry) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 24: Global: Fumaric Acid (Pharmaceutical Industry) Market: Sales Value (in Million US$), 2017 & 2022
Figure 25: Global: Fumaric Acid (Pharmaceutical Industry) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 26: Global: Fumaric Acid (Chemical Industry) Market: Sales Value (in Million US$), 2017 & 2022
Figure 27: Global: Fumaric Acid (Chemical Industry) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 28: Global: Fumaric Acid (Other Industries) Market: Sales Value (in Million US$), 2017 & 2022
Figure 29: Global: Fumaric Acid (Other Industries) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 30: Asia Pacific: Fumaric Acid Market: Sales Value (in Million US$), 2017 & 2022
Figure 31: Asia Pacific: Fumaric Acid Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 32: North America: Fumaric Acid Market: Sales Value (in Million US$), 2017 & 2022
Figure 33: North America: Fumaric Acid Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 34: Europe: Fumaric Acid Market: Sales Value (in Million US$), 2017 & 2022
Figure 35: Europe: Fumaric Acid Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 36: Middle East and Africa: Fumaric Acid Market: Sales Value (in Million US$), 2017 & 2022
Figure 37: Middle East and Africa: Fumaric Acid Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 38: Latin America: Fumaric Acid Market: Sales Value (in Million US$), 2017 & 2022
Figure 39: Latin America: Fumaric Acid Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 40: Fumaric Acid Manufacturing: Process Flow

List of Tables
Table 1: Fumaric Acid: General Properties
Table 2: Global: Fumaric Acid Market: Key Industry Highlights, 2022 and 2028
Table 3: Global: Fumaric Acid Market Forecast: Breakup by Application (in Million US$), 2023-2028
Table 4: Global: Fumaric Acid Market Forecast: Breakup by End-Use Industry (in Million US$), 2023-2028
Table 5: Global: Fumaric Acid Market Forecast: Breakup by Region (in Million US$), 2023-2028
Table 6: Fumaric Acid: Raw Material Requirements
Table 7: Global: Fumaric Acid Market Structure
Table 8: Global: Fumaric Acid Market: Key Players

Companies Mentioned

  • 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.

Methodology

Loading
LOADING...