Global Glucaric Acid Market Size - Segmented by Product Type, by Application, by Geography - Growth, Trends and Forecasts (2018 - 2023)

SKU ID : INH- 12347630

Publishing Date : 01-Sep-2018

No. of pages : 113

PRICE
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  • Glucaric Acid Market Insights
    Glucaric acid, which is formed by oxidizing glucose, has been recognized by US Department of Energy as one of the most important building blocks chemicals that can be converted into a number of high value, bio based chemicals. This factor is expected to propel the growth of global glucaric acid market over the forecast period (2018-2023).

    The companies involved in the production of glucaric acid are applying proven science to renewable resources, are creating an abundant and far more economical supply of glucarate and its derivatives. Glucaric acid finds potential applications in food, pharmaceuticals and polymer industries which has resulted in a robust growth in the glucaric acid market over the forecast period (2018-2023).

    The global glucaric acid market is expected to grow with a value CAGR of 7.1% over the forecast period (2018-2023).

    Increasing Usage as Phosphate Replacer in Detergents to Drive Glucaric Acid Market Growth
    A large market opportunity has presented itself with the increase in governmental taxes on phosphates in detergents in Europe and more regulations are expected to in the future to fully eradicate the use of phosphates in detergents.

    Glucaric acid is being used widely by many major manufacturers as a replacement for phosphates with a great promise in terms of cost, versatility and sustainability. Glucaric acid is produced from renewable energy resources, has a favorable environmental profile, and has a potential for wide spread applications across many markets including the detergent industry. Many companies involved in the manufacturing of gulcaric acid like Rivertop has begun to produce glucarate based products designed as detergent builders.

    Glucaric acid’s most significant commercial value is the use of its sodium salt in dishwasher detergents. This acid acts as a chelating agent that ties up the hard water calcium and magnesium ions to make the detergents more efficient. Sodium glucarate has recently replaced environmentally problematic phosphates in most detergents.

    Detergent the Fastest Growing Segment in Glucaric Acid Market
    Detergents likely will be the first major application of glucaric acid as a replacement for phosphates. The target market will be automatic dishwasher detergents for consumers – a multimillion dollar industry. Glucaric acid is the ideal cleansing agent. It serves as a builder that captures magnesium and calcium found in hard water and then prevents them from foaming soap scum. Since phosphates are now banned from dishwasher detergents and glucaric acid is being prominently used as a substitute in the industry. This is expected to boost the growth of glucaric acid market over the forecast period (2018-2023). The use of glucaric acid is increasing in laundry and household cleaning. Glucaric acid is also regarded as ecofriendly as the raw materials used in the production of this product are renewable.

    Asia-Pacific to Register Significant Growth in Glucaric Acid Market
    Asia-Pacific accounted for a major share of glucaric acid market in 2017 due to the easy availability of raw materials and cheap labor in comparison to North America and Europe. Thus, major players including Rennovia and Rivertop have established manufacturing facilities in emerging economies of Asia-Pacific such as India, China, and Taiwan.

    North America accounted for significant share of market share as the United States was the pioneer in introduction of the acid. Glucaric acid is a renewable product. Hence, its usage is supported by governing bodies such Environmental Protection Agency (EPA). This is augmenting the demand for glucaric acid in the global market over the forecast period (2018-2023).

    Glucaric Acid Market Key Developments
    March 2017 – US food processing company Archer Daniels Midland (ADM) has signed an agreement to license bio-based glucaric acid technology from the UK’s Johnson Matthey and US bio-based chemicals company Rennovia.

    Glucaric Acid Market Competitive Landscape
    Rennovia Inc
    Rivertop Renewables, Inc
    Kalion Inc
    Haihang Industry Co., Ltd
    AK Scientific Inc.
    Alfa Chemistry
    Carbosynth Limited
    Merck KGaA
    Cayman Chemical

    Reasons to Purchase the Glucaric Acid Market Report
    Analyzing outlook of the market with the recent trends and Porter’s five forces analysis
    Market dynamics which essentially consider the factors which are impelling the present market scenario along with growth opportunities of the market in the years to come
    Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects
    Country level analysis integrating the demand and supply forces that are influencing the growth of the market
    Competitive landscape involving the market share of major players along with the key strategies adopted for development in the past five years
    Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis and strategies employed by the major market players
    3 months analyst support along with the Market Estimate sheet in excel.

    Customization of the Glucaric Acid Market Report
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    This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.

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