Global Glucaric Acid Market Expected To Reach USD
Newark, NJ, May 26, 2021 (GLOBE NEWSWIRE) – According to the study published by Fior Markets, the global glucaric acid market is expected to increase from USD 0.75 billion in 2020 and reach USD 1.41 billion by 2028, with a CAGR of 8.13% during the forecast period 2021-2028.
The glucaric acid market has seen significant growth in recent years. The defining factor in this market is that glucaric acid is the ideal cleansing agent. It acts as a building agent which captures the magnesium and calcium present in hard water and then prevents them from building up. Detergents are one of the main applications of glucaric acid as a phosphate substitute. Since phosphates are now banned in dishwasher detergents, glucaric acid is widely used as an alternative in industry. This market is expected to drive the growth of the glucaric acid market during the forecast period. Glucaric acid is increasingly used in laundry and household cleaning. Glucaric acid is also environmentally friendly because the raw materials used to make this product are renewable. The per capita growth of emerging economies can be seen as an opportunity because of their changing lifestyles. As glucaric acid cannot be generated in large quantities due to the high release of nitrogen oxide, and industries are expected to follow strict government regulations, the market faces restraints and challenges.
Glucaric acid is a chemical compound. It is formed by the resulting chemical reaction between nitric acid and the oxidation of sugar. Glucaric acid is classified as green or renewable acids and is used in various industries such as agriculture, medicine, chemicals, and food. It is used in water treatment and detergent manufacturing processes. Chemicals used in the construction industry, such as phosphates, are likely to be replaced by glucaric acid due to its natural and renewable nature. The problems associated with the use of phosphates due to their toxic nature are the major drivers of the glucaric acid market.
The glucaric acid market can be stimulated by the use of the acid in the synthesis of polymers. The easy availability and lower prices of Pure Glucaric Acid compared to other products is expected to drive the market growth. The glucaric acid market is strongly driven by high production of glucaric acid, especially for the industrial and agricultural sectors. For example, it is used in the production of concrete mixes, while, on the other hand, it is used in the production of light fertilizers. Manufacturers focus on innovative approaches to developing products for end users that result in reduced waste generation in the production phase. The presentation of various products, the high adoption of innovative process technologies and the untapped potential opportunities in the industrial sector are likely to create more options within the expected time frame. However, strict regulations, government bans, high costs, and the inability to scale industrial processes to manufacture sugar limit the growth of the market throughout the forecast period.
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The major players operating in the global glucaric acid market include Merck KGaA, Cayman Chemical, Alpha Chemistry, Haihang Industry Co Ltd and AK Scientific Inc. and Shanghai Meicheng Chemical Co., Ltd. Industry Co Ltd and Kalion Inc., Merck KGaA, Cayman Chemical, Alfa Chemistry, among others.
Pure glucaric acid is expected to dominate during the forecast period 2021-2028.
Based on type, the global glucaric acid market is segmented into Pure Glucaric Acid, Sodium Potassium D-Glucarate, D-Glucaric-1, 4-Lactone, and Calcium-D-Glucarate. The Pure Glucaric segment has dominated the market since 2020. This growth is due to the low price and ease of availability compared to other products.
The detergents segment is expected to dominate the market during the forecast period 2021-2028.
Application segment includes detergents, corrosion inhibitors, pharmaceuticals, food additives / health supplements and others. Detergents segment is expected to dominate the market during the forecast period. detergent industry has grown due to the ban. on phosphates, especially in liquid detergents.
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Regional Segment of Glucaric Acid Market
- North America (United States, Canada, Mexico)
- Europe (Germany, France, United Kingdom, Italy, Spain, rest of Europe)
- Asia-Pacific (China, Japan, India
- ), South America (Brazil and rest of South America)
- Middle East and Africa (UAE, South Africa, rest of MEA)
On the basis of geography, the global glucaric acid market is classified into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. The Asia-Pacific region experienced the highest demand for glucaric acid and its derivatives. The growing need for this product by the detergent and food industry, especially in developing countries, has propelled the market growth in the coming years. North America holds the second largest share. The market in this region is led by the United States, which is a pioneer in the supply of this product. As it is a natural product, the use of glucaric acid in this country has been encouraged by governing bodies such as the Environmental Protection Agency (EPA), which has led to a increased market demand.
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About the report:
Global Glucaric Acid Market is analyzed on the basis of value (USD Billion). All segments were analyzed globally, regionally and nationally. The study includes analysis of over 30 countries for each segment. The report gives in-depth analysis of driving factors, opportunities, restraints, and challenges to gain critical insights into the market. The study includes the carrier’s five force model, attractiveness analysis, commodity analysis and competitor position grid analysis.
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