Burlingame, Jan. 20, 2023 (GLOBE NEWSWIRE) -- The global itaconic acid market was valued at US$ 97.7 Mn and is expected to exhibit a CAGR of 4.1% the forecast period (2022-2030).
Key Trends and Analysis of the Global Itaconic Acid Market:
Growing in the research and development investment to produce more innovative products such as resins, plastics, and paints can help to propel the global itaconic acid market growth in forecast period
Rising launching of various new product in the global itaconic acid market can drive the market growth in the upcoming years. Furthermore, various companies are entering in the global itaconic acid market and adopting various innovation such as developing tough, flexible, and biodegradable plastics from itaconic acid that can help to propel the global itaconic acid market growth in forecast period.
Increased the pressure on itaconic acid providers and consumers offer to provide different form of itaconic acid that can boost the global itaconic acid market growth in upcoming years.
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Key Market Takeaways
The global itaconic acid market is expected to exhibit a CAGR of 4.1% over the forecast period (2022-2030). According to the globe news wire, the itaconic acid market is anticipated to expand at a robust pace during the forecast period, due to the increasing number of startups such as NRS Chemicals LLP and rising consumer demand for paints and resins in the global market up to 23% can drive the global itaconic acid market growth in forecast period .
Competitive Landscape:
Major players operating in the global itaconic acid market include Itaconix Corporation, Jinan Huaming Biochemistry Co. Ltd., Qingdao Langyatai Group Co. Ltd., Zhejiang Guoguang Biochemistry Co., Ltd., Alpha Chemika, Chengdu Jinkai Biology Engineering Co., Ltd., Ronas Chemicals Ind. Co., Ltd., Iwata Chemical Co., Ltd., Shandong Kaison Biochemical Co., Ltd., Aekyung Petrochemical Co. Ltd., Spectrum Chemical Manufacturing Corp., FUJIFILM Wakao Pure Chemical Corporation, Ultimate Chem India Pvt. Ltd., Choice Oraganochem Lip., and Alfa Aesar.
Major players are using different strategies such as mergers, acquisitions, and capacity expansion. For instance, in June 2021, a chemical manufacture company, Ronas Chemicals Ind. Co., Ltd. announced to increase their production of organic and inorganic chemicals such as ammonia by 41% in next five years.
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Market Segmentation:
- Global Itaconic Acid Market, By Derivative
- Styrene Butadiene
- Methyl Methacrylate
- Polyitaconic Acid
- Others
- Global Itaconic Acid Market, By Application
- SBR Latex
- Synthetic Latex
- Chillant Dispersant Agent
- Superabsorbent Polymer
- Unsaturated Polyester Resins
- Methyl Methacrylate
- Detergent Builder
- Others
- Global Itaconic Acid Market, By Region:
- North America
- By Country:
- U.S.
- Canada
- By Country:
- Europe
- By Country:
- U.K.
- Germany
- France
- Italy
- Spain
- Russia
- Rest of Europe
- By Country:
- Asia Pacific
- By Country:
- China
- India
- Japan
- South Korea
- ASEAN
- Australia
- Rest of Asia Pacific
- By Country:
- Latin America
- By Country:
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- By Country:
- Middle East & Africa
- By Country:
- Middle East
- Africa
- By Country:
- North America
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