“The market for fumaric acid is expected to grow at a CAGR more than 4% globally during the forecast period. Fumaric acid is known as trans-butenedioic acid, is a white crystalline compound found in nature. It is the primary intermediate in the tricarboxylic acid cycle for the biosynthesis of organic acid in humans and other mammals. Similar to malic acid, fumaric acid helps in the production of energy from food in the form of ATP. It is the strongest organic food acid as it has higher relative sourness than other acidulants. The growing application of fumaric acid in the food and beverage industry and the production of polyester resin have been driving the market growth.
However, the health hazards related to fumaric acid-like breathing fumaric acid can cause coughing and damage kidneys are likely to hinder the growth of the studied market. The sudden unfavorable conditions arising due to the COVID-19 outbreak is also expected to halt the industrial production and hamper the market growth.
The research and technological development in fumaric acid waterproofing admixture for self-sealing watertight concretes are likely to provide opportunities for the fumaric acid market over the next five years.
Asia-Pacific region dominates the fumaric acid market, owing to growing application of fumaric acid in food and construction industry in the region.
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Key Market Trends
Food and Beverage Sector to Dominate the Market
– Food and beverage sector stands to be the dominating segment. Factors such as the rising popularity of processed food and demand for ready-to-drink beverages are expected to provide thrust to fumaric acid market.
– Fumaric acid plays a vital role in energy drink manufacturing, for stabilizing the beverage and in maintaining its quality over time. Consequently, increasing the consumption of energy drinks by athletes is likely to surge market growth for fumaric acid.
– Fumaric acid is used as an acidulant, pH controller and flavor enhancer in the food and beverage industry and the rising popularity of processed foods is likely to augment the demand for fumaric acid globally.
– Asia-Pacific countries like China, India, Indonesia, Thailand and Singapore have been registering strong growth in the consumption of processed food and beverage, which is expected to drive the consumption of fumaric acid in the region over the forecast period.
– All the aforementioned factors are expected to drive the fumaric acid market during the forecast period.
Asia-Pacific Region to Dominate the Market
– Asia-Pacific region stands to be the largest and fastest-growing market for fumaric acid. Factors, growing utilization in the food industry as well as rising infrastructural expansion have been driving the fumaric acid requirements in Asia-Pacific.
– In plastic industry, fumaric acid is used as an intermediate in unsaturated polyester resins and alkyd resins to maintain the unsaturated molecular chain. These resins demand will heighten due to its use in paints. Asia is the largest producer of paints & caotings with major demand coming from China, Japan and India. The demand for paints is expected to grow owing to increasing construction activities in countries such as China, India, Indonesia, Thailand and Vietnam among others.
– Fumaric acid-based unsaturated polyester resin is used in engineering frame panels for heavy and light-duty automobiles and increasing utilization of polyester resin in the automotive industry is likely to drive the market growth. China is likely to have a high demand for fumaric acid due to the growth of the plastic industry along with a demand from the food & beverage segment.
– Hence, all such market trends are expected to drive the demand for fumaric acid market in the region during the forecast period.
The global fumaric acid market is partially consolidated in nature with some large players and many small players operating in the market. While some of the prominent players in the market include FUSO CHEMICAL CO., LTD., Polynt, Prinova Group LLC., Bartek Ingredients Inc. and The Chemical Company amongst others.
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1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1.1 Growing Application in Food and Beverage Industry
4.1.2 Rising Demand from Construction Segment
4.2.1 Health Hazard Related to Fumaric Acid
4.2.2 Unfavorable Conditions Arising Due to COVID-19 Outbreak
4.3 Industry Value Chain Analysis
4.4 Porters Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products
4.4.5 Degree of Competition
5 MARKET SEGMENTATION
5.1.1 Food Grade
5.1.2 Technical Grade
5.2.1 Food Processing
5.2.2 Rosin Paper
5.2.3 Unsaturated Polyster Resin
5.2.4 Alkyd Resin
5.3 End-User Industry
5.3.1 Food and Beverage
220.127.116.11 South Korea
18.104.22.168 Rest of Asia-Pacific
5.4.2 North America
22.214.171.124 United States
126.96.36.199 United Kingdom
188.8.131.52 Rest of Europe
5.4.4 South America
184.108.40.206 Rest of South America
5.4.5 Middle-East and Africa
220.127.116.11 Saudi Arabia
18.104.22.168 South Africa
22.214.171.124 Rest of Middle-East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share/Ranking Analysis**
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Bartek Ingredients Inc.
6.4.2 Changzhou YaBang Chemical Co.,Ltd.
6.4.3 Dastech International Inc.
6.4.4 FUSO CHEMICAL CO., LTD.
6.4.5 Huntsman International LLC
6.4.6 NIPPON SHOKUBAI TRADING CO.,LTD.
6.4.8 Prinova Group LLC.
6.4.9 The Chemical Company
6.4.10 Thirumalai Chemicals Ltd.
6.4.11 Wego Chemical Group
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Research and Development in Application of Fumaric Acid in Concrete
7.2 Other Oppurtunities”
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