LONDON--The global glucaric acid market is expected to grow at an impressive CAGR of more than 11% during the forecast period, according to Technavio’s latest market research.
In this market research report, Technavio covers the market outlook and growth prospects of the global glucaric acid market for 2017-2021. The market is further categorized into product segment (pure glucaric acid, calcium D-glucaric, D-glucaric acid-1, 4-lactone, and others) and by application (detergents, food ingredients, corrosion inhibitors, and others).
Technavio’s research analysts segment the global glucaric acid market into the following regions:
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APAC: largest glucaric acid market
The excessive availability of sugar in certain major countries of APAC such as China, India, and Pakistan is contributing to the rapid growth of the glucaric acid market. The market in APAC accounted for around 41% of the total market share in 2016. The suitable climatic conditions are attributing to the high productivity of sugar, and the availability of cheap labor will help APAC maintain its market share during the forecast period. The prevalence of cancer in countries like India and China is propelling the growth of the glucaric acid market in the region. Calcium D-glucarate, a derivative of the glucaric acid, inhibits the carcinogens responsible for causing cancer, thereby preventing cancer.
“The growing demand for food and beverages, soaps, and detergents in APAC will have a positive impact on the glucaric acid market. The increasing concern toward biodegradability and the increasing awareness of using organic products is promoting the use of products that have a high content of glucaric acid,” says Kurva Samba Sivudu, a lead specialty chemicals research expert from Technavio.
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Glucaric acid market in the Americas
In 2016, the glucaric acid market in the Americas occupied more than 28% of the total market share. The use of detergents with glucaric acid in laundry and household cleaning is driving the market in this region. The ban in North America on the use of phosphate-based detergents is fueling the development of detergents based on glucaric acid. Glucaric acid is regarded as eco-friendly as the raw materials used in the production of this product is considered as renewable resources.
“The abundant availability of corn sugar, the main source of glucose, led to the huge production of organic detergents replacing inorganic acid phosphate in the Americas. Additionally, the prevalence of stringent government regulations will enhance the growth of the glucaric acid market in this region,” says Kurva.
Glucaric acid market in Europe
Stringent environmental regulations in accordance with the use of glucaric acid as de-icers replacing other inorganic chemicals is another key factor that will drive the growth of the glucaric acid market during the forecast period. European countries like Switzerland, France, Austria, Italy, and Sweden, receive heavy snowfall during winters, due to which the demand for de-icing agents to clear roads, bridges, and railway tracks in these countries is high.
In 2016, the glucaric market in Europe occupied close to 18% of the total market share. Earlier, de-icing agents such as calcium chloride or rock salt were used to melt snow, which had adverse effects on the environment and human beings. To combat such environmental pollution, the European Parliament enforced the use of bio-based de-icing agents such as glucaric acid.
Glucaric acid market in the MEA
The glucaric acid market in MEA accounted for around 14% of the total market share in 2016. The change in the preference of consumers from petrochemical-based products such as detergents and corrosion inhibitors to bio-based products is driving the growth of the glucaric acid market in this region. However, the presence of a large number of petroleum oil and gas reserves in MEA has resulted in the reduced growth rate in this region.
The top vendors in the global glucaric acid market as highlighted in this market research analysis are:
- HAIHANG INDUSTRY
- Rivertop Renewables
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