Fumaric Acid Market: Industry Analysis and Forecast (2024-2030), Trends, Statistics, Dynamics and Segmentation

Fumaric Acid Market Overview:

Increasing awareness among consumers of sedentary and unhealthy lifestyles has prompted the demand for healthier food products. The rising disposable income has escalated the demand for ready-to-eat products, energy drinks, and nutritious products. Further, the advancements in various industries such as pharmaceutical, chemical, and cosmetic industries are expected to be significant drivers of the global fumaric acid market.

 

Fumaric acid is a valuable specialty chemical with a wide range of commercial uses, including as a feedstock for producing polymeric resins and an acidulant in foods and pharmaceuticals. Fumaric acid is now manufactured primarily by petroleum-based chemical synthesis. Fumaric acid is utilized as a food acidulant in beverages and baking powders. Fumaric acid is also a pharmaceutically active ingredient used to treat psoriasis and multiple sclerosis. Fumaric acid was first isolated from plants belonging to the Fumaria genus; it is a tricarboxylic acid intermediate helpful in various chemical reactions, including esterification and polymerization and the production of paper sizing resins.

 

 

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Fumaric Acid Market Dynamics

The food and beverage industry is vast, complex, and replete with specialized equipment. It's one of the world's oldest industries, but it's still brimming with new ideas. This business is always striving for innovative methods to create the food consumers want at the lowest feasible price, whether through new goods or higher-volume, lower-cost production procedures. Fresh, prepared, or packaged food and alcoholic and nonalcoholic beverages make up the food and beverage market. It also comprises manufacturing, packaging, and distribution to meet consumer demand. Natural-sourced products, including juice, water, jerky, plant-based alternatives, and other delicious, eco-friendly products, are typical examples of modern e-commerce. The modern direct-to-consumer food and beverage scene is filled with sustainable packaging, safety precautions, and transparent manufacturing.

 

Global revenue is predicted to climb from $435.3 billion to $856.9 billion by 2025. When total sales are broken down by nation, China dominates the global food and beverages market, with the United States (US) trailing by US$49.6 billion. Along with other developing countries, Sudan is at the top of the list in the packing industry for food and beverages. 

 

Since 1946, fumaric acid has been utilized in food and beverage goods. Wheat and maize tortillas, sourdough and rye bread, refrigerated biscuit doughs, fruit juice and nutraceutical drinks, gelatin desserts, gelling aids, pie fillings, and wine are among the products that contain fumaric acid. For rye and sourdough pieces of bread, fumaric acid functions as a primary flavor ingredient. Fumaric acid is added to the dough ingredients during the dry blending process. The amount of Fumaric acid added to the recipe can readily alter the flavor intensity. It enhances porosity in English muffins considerably. The machinability of the dough has been improved, and there is more sourness per unit weight. Other acidulants used in fruit juice drinks produce higher sourness per unit weight than fumaric acid.

 

Alkyd Resin is used in paints and coatings, and it is a rugged oil-modified polyester used as a film-forming agent in paints and clear coats. Because of their versatility and low cost, they are employed in many protective coatings with good weathering qualities and as essential constituents in many synthetic paints, varnishes, and enamels. Alkyd resins are the most common synthetic resins used in the paint industry, with usage exceeding that of any other compound. Because alkyds are compatible with most resins used in the paint industry, such as rosin, phenolic resin, amino resin, polyurethanes, and others, they can be changed to produce specific qualities.

 

Despite the global crisis, infrastructure project financing markets remained strong in 2020, with total debt volume reaching $277 billion, a slight decrease of 10.9% from 2019 project finance levels. Project developers and financiers continued to be drawn to emerging markets in Africa, Asia, and Latin America, particularly in the renewable energy, transportation, telecommunications, and recycling sectors. Private investors are looking for infrastructure projects that deliver a good return on investment and address and minimize the significant project risks during development and operation.

 

The World Bank Group estimates that creating more resilient infrastructure in LMICs will have a net economic benefit of $4.2 trillion, with leverage of $4 for every $1 spent. Countries use climate modeling to examine and anticipate potential scenarios such as increasing sea levels, altered weather patterns leading to excessive heat and drought, and changing societal requirements caused by natural disasters, harsh weather, human illnesses, or crop blights. Climate change will necessitate improved infrastructure maintenance schedules, more significant disaster preparedness planning, and infrastructure assets to survive more extreme and unpredictable weather. Thus, these developmental requirements in infrastructure are expected to spur the demand for fumaric acid in the global market.

 

Fumaric Acid Market Segment Analysis:

The Fumaric Acid market is segmented by product type, application, by End Use Industries, by End-User Industry, and geographical region in this report. The Fumaric Acid market by Product type is segmented into food and technical grades. The Fumaric Acid Market by application is divided into Food & Beverage Processing, Rosin Paper Sizing, Unsaturated Polyester Resin, Alkyd Resin, Personal Care & Cosmetics, and Other Applications. The report also contains geographical segmentation of Europe, North America, Asia-Pacific, Middle East, and South America.

 

The food and beverage industry is expected to dominate the application segment holding 26 percent market share during the forecast period. The main goal of paper sizing treatments is to increase resistance to liquid spreading and penetration. This has traditionally been accomplished by adding hydrophobic sizing agents to the fiber suspension in the wet end (internal sizing) or by combining hydrophobic agents with a starch solution applied to the paper surface at the size press (a subclass of surface sizing). Common rosin derivatives include rosin esters and reinforced rosin products. Rosin's carboxylic groups can be joined to fumaric acid, and alcohols like pentaerythritol can be used to esterify rosin adducts.

 

Because of its ability to generate carbon dioxide, fumaric acid is a popular ingredient in many cleaning and bath products. Many oral and hand cleansers and rejuvenating skin care products contain malic acid as a significant ingredient. Acidulants are a versatile solution for the pharmaceutical, personal care, and cosmetic businesses, with increased palatability and effervescent activity. To aid increase cleansing power or enhance pleasant fruit flavors, Bartek's malic and fumaric acids can be mixed with additional vitamins, minerals, and compounds.

 

 

Fumaric Acid Regional Analysis

The report contains an in-depth analysis of the Fumaric Acid market by geographical region across North America, Asia-Pacific, South America, Middle East, and Africa. Processed fruits, pork, dairy, and a few specialty grains and legumes are among the food categories that could propel China's food processing industry forward. As a result, the food and beverage industry provides investment prospects and demand for new equipment utilized in such operations, which includes market potential. With stimulating growth in the food retail sector, good economic policies, and attractive fiscal incentives, India's food ecosystem provides tremendous investment prospects. The Government of India is taking all necessary initiatives to increase investments in the food processing industry in India through the Ministry of Food Processing Industries (MoFPI). The government has approved 38 of the 41 food parks that the Mega Food Parks Scheme funded; there were just two Mega Food Parks in 2014. 22 Mega Food Parks are operating in the country as of August 1, 2021. The goal now is to increase their number to over 40. India's exports of agricultural and processed food goods have increased by over 15%. Hence, the Fumaric Acid market is forecasted to grow significantly in Asia-Pacific and is expected to dominate during the forecast period.

 

The fumaric acid market in Europe is being driven by rising demand for food and drinks and buildings and construction. In Europe, due to construction and renovation going on, there is potential demand for unsaturated polyester resin. Germany, Italy, France, and the United Kingdom were the largest consumers of fumaric acid in this region. However, in the following years, strict environmental restrictions related to the resin industry in the European Union may operate as a key restraint on the market. The third biggest demand for fumaric acid was in North America led by the United States.

 

This report aims to analyze current market trends and potential opportunities to enhance growth to succeed in the industry. The report identifies factors influencing market dynamics and development of the Fumaric Acid market and how this will control investment during the forecasting period. The report studies regional markets to provide valuable insights into revenue and predicted value; information also includes the competitive landscape of key industry players and their recent developments.

 

Through comprehensive research supported by qualitative and quantitative data, this report provides essential information on the market behavior during the projection period (22024-2030). It also recognizes dominant segments in the market, projects their development, and identifies new elements that will dominate with technological advancements.

 

 

The report contains detailed analyses through Porter's five forces model to determine the industry's structure and help devise a corporate strategy for the market. The model reports provide essential information about stakeholders' influence, product quality, substitute products, etc. The report also analyses whether the Fumaric Acid market is accessible for new competitors to gain a foothold, whether they enter or exit the market regularly, and if a few players dominate it.

 

A measured approach is adopted through Pestel analysis to quantify factors including government policies, economic structure, and political situations that will affect the development of this sector. Economic variables aid in studying financial performance drivers that impact the Fumaric Acid Market. The report also considers environmental and legal factors that may affect the progress in this industry.

 

Fumaric Acid Market Scope

 

Fumaric Acid Market
Market Size in 2023	USD 796.94 Bn.
Market Size in 2030	USD 1091.82 Bn.
CAGR (2024-2030)	4.6 %
Historic Data	2018-2022
Base Year	2023
Forecast Period	2024-2030
Segment Scope	By Product Type Food Grade Technical Grade
	By Application Food & Beverage Processing Rosin Paper Sizing Unsaturated Polyester Resin Alkyd Resin Personal Care & Cosmetics Other Applications
	By End Use Industries Food and Beverage Cosmetics Pharmaceutical Chemical Other End-user Industries
Regional Scope	North America- United States, Canada, and Mexico Europe – UK, France, Germany, Italy, Spain, Sweden, Austria, and Rest of Europe Asia Pacific – China, India, Japan, South Korea, Australia, ASEAN, Rest of APAC Middle East and Africa - South Africa, GCC, Egypt, Nigeria, Rest of the Middle East and Africa South America – Brazil, Argentina, Rest of South America

 

Fumaric Acid Market Major Players

The Fumaric Acid demands innovation and progress in a continuously changing landscape with new government policies and development. Thus, significant players often opt for strategies to invest in research and more recent technologies to be market-ready. Details profiles about the competitors, including revenue, market size, analysis, and technological advancements, are covered in this report.

• Akzo Nobel N.V. (Netherlands)
• Arkema (France)
• Bartek Ingredients Inc.(Canada)
• BASF SE (Germany)
• Changmao Biochemical Engineering Company Limited (China)
• DuPont. (USA)
• FUSO CHEMICAL CO., LTD. (Japan)
• Huntsman International LLC (USA)
• Isegen (Pty) Ltd (South Africa)
• Jiangsu Jiecheng Bioengineering Co., Ltd (China)
• Khusheim Holding (Saudi Arabia)
• Merck KGaA (Germany)
• Polynt (Italy)
• SIP CHEMICAL INDUSTRIES(India)
• Tate & Lyle (UK)
• TCI Chemicals Pvt. Ltd (Japan)
• The Chemical Company (USA)
• Thermo Fischer Scientific, Inc. (USA)
• Thirumalai Chemicals Ltd. (India)
• XST Biological Co., Ltd. (China)