The global demand for Itaconic Acid Market is presumed to reach the market size of nearly USD 141.84 MN by 2028 from USD 100.8 MN in 2021 with a CAGR of 5% under the study period of 2022 - 2028. Regarding volume, the market was calculated XX Kilo Tons in 2021 and forecast to touch XX Kilo Tons by 2028 with a CAGR of XX% during 2022-2028.
Itaconic acid, commonly known as methylidenesuccinic acid, is a type of organic acid. It is a crystalline white colorless chemical that occurs naturally. The acid is widely used to make a variety of chemicals, including resins, paints, plastics, and synthetic fibers. It's also used to make pulp or paper products, plastic products, plastic additives, and various sorts of paints, among other things. Itaconic acid is a non-toxic chemical molecule that is readily biodegradable. It's an unsaturated organic diacid that can be used as a platform chemical in place of acrylic acid. Itaconic acid was previously made by distilling citric acid, but it is now produced through fermentation. Itaconic acid was named as an anagram of aconitic acid, another citric acid derivative.
Market Dynamics
The market will most likely be influenced by the rising popularity of sustainable products and the increasing prevalence of bio-based unsaturated polyester resins during the anticipated years. Growing awareness of the benefits of itaconic acid and its readily biodegradable nature and environmental friendliness is likely to drive the market forward in the coming years. Furthermore, the increasing investment in research & development to generate more innovative products will allow the itaconic acid market to grow in the future years. However, the increased cost of itaconic acid and the advancement of low-cost production technologies can act as market restraints.
The report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of itaconic acid. The growth and trends of Itaconic Acid Industry provide a holistic approach to this study.
Market Segmentation
This section of the itaconic acid market report provides detailed data on the segments by analyzing them at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By Derivative
- Styrene Butadiene Itaconic Acid
- Methyl Methacrylate
- Polyitaconic Acid
- Others
By Application
- Sbr Latex
- Synthetic Latex
- Chillant Dispersant Agent
- Superabsorbent Polymers
- Others
Regional Analysis
This section covers the regional outlook, which accentuates current and future demand for the Itaconic Acid market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Itaconic Acid Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the itaconic acid market include Itaconix Corporation (UK), Qingdao Langyatai (China), Zhejiang Guoguang (China), Alpha Chemika (India), Shandong Kaison (China), Jinan Huaming (China), Iwata Chemical (Japan), Aekyung Petrochemical (South Korea), Ronas Chemical (China), and Chengdu Jinkai (China). This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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