The market for fumaric acid is expected to register a CAGR of more than 4%, globally, during the forecast period. Fumaric acid is known as trans-butenedioic acid, and it 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, which are likely to hinder the growth of the studied market. The sudden unfavorable conditions arising due to the COVID-19 outbreak are 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.
The Asia-Pacific region dominates the fumaric acid market, owing to growing application of fumaric acid in the food and construction industry in the region.
Key Market Trends
Food and Beverage Sector to Dominate the Market
- The 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 drive the fumaric acid market’s growth.
- Fumaric acid plays a vital role in energy drink manufacturing, for stabilizing the beverage and maintaining its quality over time. Consequently, the increasing consumption of energy drinks by athletes is likely to surge the 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 terms of 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’s growth during the forecast period.
Asia-Pacific Region to Dominate the Market
- The Asia-Pacific region stands to be the largest and fastest-growing market for fumaric acid. Factors, such as growing utilization in the food industry as well as rising infrastructural expansion, have been driving the fumaric acid requirements in Asia-Pacific.
- In the plastic industry, fumaric acid is used as an intermediate in unsaturated polyester resins and alkyd resins to maintain the unsaturated molecular chain. The demand for these resins is expected to increase significantly, due to their use in paints. Asia is the largest producer of paints and coatings, with major demand from China, Japan, and India. The demand for paints is expected to increase, owing to the 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 witness high demand for fumaric acid due to the growth of the plastic industry, along with the demand from the food and beverage segment.
- Hence, all such market trends are expected to drive the demand for fumaric acid 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, among others.
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