Skip to main content

Itaconic Acid Market is Expected to Reach US$ 204.6 Mn 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. 

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.
Browse The Full Report At:

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. 

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.
This report segments the global itaconic acid market as follows:
  • Itaconic Acid Market & Application Analysis
    • Synthetic latex
    • Unsaturated polyester resins
    • Detergents
    • Superabsorbent polymers (SAP)
    • Others (including lubricant oil, adhesives, paints and coatings, pharmaceuticals, herbicides, emulsifiers, printing chemicals, and acrylic fiber)
The report information is based on the "Itaconic Acid Market for Synthetic Latex, Unsaturated Polyester Resins, Detergents, Superabsorbent Polymers (SAP) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023  report.
Labels:
Location: Albany, NY, USA

Comments

Post a Comment

Popular posts from this blog

Superabrasives (Turning, Cutting, Buffing, Drilling, Boring, Grinding) Market Research Report 2025

An abrasive is a material which molds or provides finishing to a work piece through a process which includes buffing, grinding, cutting, as well as polishing. Abrasion typically depends on the difference in the hardness of the material and the abrasive (with the latter being the harder of the two). Unlike regular abrasion where any two solid materials that repeatedly rub against each other tend to wear away, superabrasives possess the kind of hardness that enables them to stay usable for a longer period of time. On the basis of hardness, the top two superabrasives include diamond and cubic boron nitride (CBN). Industrial diamonds used as superabrasives are exceptionally hard materials. However, they display several technological limitations. For instance, when a diamond comes in contact with a ferrous alloy such as steel or a nickel superalloy, the resulting formation of carbide leads to its abrasion. Also, a diamond-containing tool can only be used at moderate temperatures a
Post a Comment
Read more

Industrial Lubricants Market: Strong Demand Across Automotive Industry, Trends To 2025

Lubricants refer to the organic or inorganic material primarily being use to decrease friction between two surfaces in contact. Lubricants play a key role in several industries as well as in commercial and residential sectors. One of their most common uses is in the lubrication of bearings and gears, allowing for their easy movement at high speeds, without loss in energy, prevent excessive generation of heat, or most importantly, prevent damage that would be caused otherwise. Industrial lubricants are, therefore, essential in enhancing the overall efficiency of a machine that contains moving parts in contact with one another. The global industrial lubricants market is currently expanding at a solid growth rate, driven by several factors and spearheaded by the likes of BP, Total, Chevron Corporation, ExxonMobil, and Shell. Browse Market Research Report @  http://www.transparencymarketresearch.com/industrial-lubricants-market.html What Impact has the Oil and Gas Industry Had
Post a Comment
Read more

Rapid Prototyping Market - Rapidly Gaining Importance in Aerospace Sector, Research By 2024

Rapid prototyping is a technique in which the physical modeling of a design is done with the help of specialized machining technology. It was developed initially in the mid-1980s, the principle used in this technology is of solid modeling with the help of computer programs (i.e. CAD). Solid modeling makes use of computer aided-design (CAD) data to completely describe not just the external shape of parts or equipment, but its interior volume as well as the outside surfaces. The computer model is sliced into thin layers and the part of the product or commodity to be modelled or developed as per the requirement, is eventually fabricated by adding layers onto each other. Obtain Report Details @   http://www.transparencymarketresearch.com/rapid-prototyping-market.html The primary benefit of the system is that almost any shape can be manufactured using computerized programs. Time and money savings vary from 50% to 90% compared to conventional systems. Types of rapid prototypi
Post a Comment
Read more