According to the latest report by IMARC Group, the global fumaric acid market size was worth US$ 661 Million in 2019. Looking forward, IMARC Group expects the global fumaric acid market to continue its moderate growth during the next five years.
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Also known as trans-butenedioic acid, fumaric acid (C4H4O4) is a white crystalline powder, which occurs naturally in eukaryotes, bolete mushrooms, lichens and Iceland moss. It can also be produced industrially using maleic anhydride. Fumaric acid is colorless, unsaturated, soluble in ethanol and is used in the manufacturing of synthetic resins, paints and plastics. Other than this, it is also employed in the food and beverage (F&B) industry as a stabilizer, preservative and flavoring agent.
The increasing working population, along with the inflating income levels of individuals, has led to a rise in the preference for processed food products and ready-to-drink beverages. This trend, in confluence with the burgeoning F&B industry, represents one of the primary factors driving the global fumaric acid market growth. Moreover, rising construction activities have increased the demand for unsaturated polyester resins (UPRs) and paints around the world, which in turn is creating a positive outlook for the market. Furthermore, the utilization of fumaric acid in the production of body panels for heavy and light-duty vehicles, along with the flourishing automotive industry, is anticipated to strengthen the market in the coming years.
Insights on Market Segmentation:
Breakup by Application
• Food Additives
• Rosin-Sized Sheathing Paper
• Unsaturated Polyester Resins
• Alkyd Resins
Breakup by End-Use Industry
• Food and Beverages Industry
• Cosmetics Industry
• Pharmaceutical Industry
• Chemical Industry
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Breakup by Region
• North America
• Asia Pacific
• Middle East and Africa
• Latin America
The report has also examined the competitive landscape of global fumaric acid market. Some of the major players in the market are Bartek Ingredients Inc., Fuso Chemical Co., Ltd., Polynt, Prinova Group, Dastech International, Changzhou Yabang Chemical Co. Ltd., Nippon Shokubai, The Chemical Company, Thirumalai Chemicals, Wego Chemical Group, U.S. Chemicals and Huntsman Corporation.
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