The glucaric acid global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Glucaric Acid Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size -
The
glucaric acid market size has grown strongly in recent years. It will
grow from $0.98 billion in 2023 to $1.06 billion in 2024 at a compound
annual growth rate (CAGR) of 8.7%. The growth in the historic period can
be attributed to pharmaceutical demand, food additive adoption,
environmental awareness, government regulations, R&D innovation,
sustainable chemical demand, industrial cleaning applications, and
personal care product demand.
The glucaric acid market size is expected to see strong growth in the next few years. It will grow to $1.50 billion in 2028 at a compound annual growth rate (CAGR) of 9.1%. The growth in the forecast period can be attributed to a focus on a focus on green chemistry, bio-based polymer integration, capacity expansion, diversification in agriculture and textiles, and increased adoption of green packaging solutions. Major trends in the forecast period include glucaric acid in green packaging, bio-based material exploration, sustainable polymer integration, renewable energy applications, biotechnological production methods, eco-friendly construction materials, and collaborative innovation efforts.
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Scope Of Glucaric Acid Market
The Business Research Company's reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market's historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Glucaric Acid Market Overview
Market Drivers -
The
rising demand for eco-friendly and bio-based chemicals is expected to
propel the growth of the glucaric acid market going forward.
Eco-friendly and bio-based chemicals refer to substances produced from
renewable resources using processes that have minimal environmental
impact, promote sustainability, and reduce reliance on fossil fuels. The
rising demand for eco-friendly and bio-based chemicals is driven by
increasing environmental concerns and regulatory pressures to reduce
carbon footprints and pollution. Glucaric acid is used in eco-friendly
and bio-based chemicals as a biodegradable alternative for various
applications, including detergents, corrosion inhibitors, and food
additives. For instance, in December 2022, according to the
International Energy Agency, a France-based government agency, demand
for vegetable oil, waste, and residue oils and fats increased by 56% to
79 million metric tons in the 2022–2027 period. Moreover, wastes and
residues are expected to be used for 13% of biofuel production in 2027,
up from 9% in 2021. The rising demand for eco-friendly and bio-based
chemicals will drive the growth of the glucaric acid market.
Market Trends -
Major
companies operating in the glucaric acid market are focusing on
adopting innovations in production processes, such as full-scale
glucaric acid fermentation, to provide cost-effective, high-purity, and
environmentally friendly alternatives for various industrial
applications. Full-scale glucaric acid fermentation utilizes
microorganisms to convert glucose-containing raw materials into glucaric
acid. For instance, in November 2021, Kalion Inc., a U.S.-based biotech
company, completed its first full commercialization of its glucaric
acid product through custom manufacturing at Evonik in Europe. Kalion's
KSPG40 glucaric acid is a potent corrosion inhibitor, surpassing
phosphates in water treatment. Additionally, Kalion provides the
pharmaceutical market with high-purity calcium glucarate, reducing
residue on ignition (ROI) by up to 50% compared to alternatives. This
milestone enables the company to fulfill current customer commitments
and demands while offering limited quantities for additional customers
interested in evaluating their high-purity glucaric product.
The glucaric acid market covered in this report is segmented –
1) By Type: Calcium D-Glucarate, Pure Glucaric Acid, D-Glucaric Acid-1,4-Lactone, Potassium Sodium D-Glucarate, Other Types
2) By Application: Detergents, Healthcare, Food Manufacturing, Corrosion Inhibitors, Other Applications
3) By Sales Channel: Direct Sale, Indirect Sale
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Regional Insights -
North
America was the largest region in the glucaric acid market in 2023.
Asia-Pacific is expected to be the fastest-growing region in the
forecast period. The regions covered in the glucaric acid market report
are Asia-Pacific, Western Europe, Eastern Europe, North America, South
America, Middle East, Africa.
Key Companies -
Major companies
operating in the glucaric acid market are The Archer Daniels Midland
Company, BASF SE, LyondellBasell Industries, Merck KGaA, Koninklijke DSM
N.V, Sinochem Group, Roquette Frères SA, Novozymes A/S, Jungbunzlauer
Suisse AG, Toronto Research Chemicals Inc, Codexis Inc., Cayman Chemical
Company, Tokyo Chemical Industry Co. Ltd, Biosynth Ltd, Chemrez
Technologies Inc, Parchem Fine & Specialty Chemicals, Santa Cruz
Biotechnology Inc, Rennovia Inc, Alfa Chemistry, Rivertop Renewables,
Haihang Industry Co Ltd, CHEMOS GmbH & Co KG, AK Scientific Inc,
Kalion Inc, PMP Inc, Shandong Baovi Energy Technology Co Ltd, Otto
Chemie Pvt Ltd, Glentham Life Sciences Limited
Table of Contents
1. Executive Summary
2. Glucaric Acid Market Report Structure
3. Glucaric Acid Market Trends And Strategies
4. Glucaric Acid Market – Macro Economic Scenario
5. Glucaric Acid Market Size And Growth
…..
27. Glucaric Acid Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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