The global glucaric acid market is projected to grow at a CAGR of 8.13% during the forecast period (2020-2025).
- Glucaric acid, which is formed by oxidizing glucose, has been recognized by the US Department of Energy as one of the most important building blocks chemicals that can be converted into several high values, bio-based chemicals. This factor is expected to propel the growth of the global glucaric acid market over the forecast period.
- 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 robust growth in the glucaric acid market during the forecast period.
Key Market Trends
Increasing Usage as Phosphate Replacer in Detergents to Drive Glucaric Acid Market Growth
Detergent is one of the major applications of glucaric acid as a replacement for phosphates. 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 phosphate is 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 the glucaric acid market over the forecast period. 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 Holds a Significant Market Share
Asia-Pacific has witnessed a major share of the glucaric acid market in 2018 owing to the easy availability of raw materials and cheap labor in comparison to North America and Europe. Thus, major players including Haihang Industry Co Ltd and Alfa Chemistry have established manufacturing facilities in emerging economies of Asia-Pacific such as India, China, and Taiwan. North America accounted for a significant share of market share as the United States was the pioneer in the introduction of the acid. Glucaric acid is a renewable product. Hence, its usage is supported by governing bodies such as Environmental Protection Agency (EPA). This is augmenting the demand for glucaric acid in the global market during the forecast period.
Some of the major key players in the glucaric acid market, globally includes Shanghai Meicheng Chemical Co. Ltd., Haihang Indutry Co Ltd, Kalion Inc., Merck KGaA, Cayman Chemical, Alfa Chemistry, among others.
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1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Force Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Product Type
5.1.1 Pure Glucaric Acid
5.1.2 Calcium-D- glucarate
5.1.3 Pottassium Sodium-D- glucarate
5.1.4 D-glucaric acid- 1,4-lactone
5.2 By Application
5.2.2 Corrosion Inhibitors
5.2.3 Food Additives/Health Supplements
5.3.1 North America
184.108.40.206 United States
220.127.116.11 Rest of North America
18.104.22.168 United Kingdom
22.214.171.124 Rest of Europe
5.3.3 Asia Pacific
126.96.36.199 Rest of Asia-Pacific
5.3.4 Rest of the Wold
188.8.131.52 South America
184.108.40.206 Middle East
6 COMPETITIVE LANDSCAPE
6.1 Most Active Companies
6.2 Most Adopted Strategies
6.3 Market Position Analysis
6.4 Company Profiles
6.4.1 Shanghai Meicheng Chemical Co. Ltd.
6.4.2 Kalion Inc.
6.4.4 Haihang Indutry Co Ltd
6.4.5 AK Scientific Inc.
6.4.6 Alfa Chemistry
6.4.7 Cayman Chemical
6.4.8 Merck KGaA
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.