The glucaric acid from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Glucaric Acid Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The glucaric acid market size has grown strongly in recent years. It will grow from $0.98 billion in 2023 to $1.06 billion in 2024 at a compound annual growth rate (CAGR) of 8.7%. The growth in the historic period can be attributed to pharmaceutical demand, food additive adoption, environmental awareness, government regulations, R&D innovation, sustainable chemical demand, industrial cleaning applications, and personal care product demand.
The glucaric acid market size is expected to see strong growth in the next few years. It will grow to $1.50 billion in 2028 at a compound annual growth rate (CAGR) of 9.1%. The growth in the forecast period can be attributed to a focus on a focus on green chemistry, bio-based polymer integration, capacity expansion, diversification in agriculture and textiles, and increased adoption of green packaging solutions. Major trends in the forecast period include glucaric acid in green packaging, bio-based material exploration, sustainable polymer integration, renewable energy applications, biotechnological production methods, eco-friendly construction materials, and collaborative innovation efforts.
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Scope Of Glucaric Acid Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Glucaric Acid Market Overview
Market Drivers –
The rising demand for eco-friendly and bio-based chemicals is expected to propel the growth of the glucaric acid market going forward. Eco-friendly and bio-based chemicals refer to substances produced from renewable resources using processes that have minimal environmental impact, promote sustainability, and reduce reliance on fossil fuels. The rising demand for eco-friendly and bio-based chemicals is driven by increasing environmental concerns and regulatory pressures to reduce carbon footprints and pollution. Glucaric acid is used in eco-friendly and bio-based chemicals as a biodegradable alternative for various applications, including detergents, corrosion inhibitors, and food additives. For instance, in December 2022, according to the International Energy Agency, a France-based government agency, demand for vegetable oil, waste, and residue oils and fats increased by 56% to 79 million metric tons in the 2022–2027 period. Moreover, wastes and residues are expected to be used for 13% of biofuel production in 2027, up from 9% in 2021. The rising demand for eco-friendly and bio-based chemicals will drive the growth of the glucaric acid market.
Market Trends –
Major companies operating in the glucaric acid market are focusing on adopting innovations in production processes, such as full-scale glucaric acid fermentation, to provide cost-effective, high-purity, and environmentally friendly alternatives for various industrial applications. Full-scale glucaric acid fermentation utilizes microorganisms to convert glucose-containing raw materials into glucaric acid. For instance, in November 2021, Kalion Inc., a U.S.-based biotech company, completed its first full commercialization of its glucaric acid product through custom manufacturing at Evonik in Europe. Kalion’s KSPG40 glucaric acid is a potent corrosion inhibitor, surpassing phosphates in water treatment. Additionally, Kalion provides the pharmaceutical market with high-purity calcium glucarate, reducing residue on ignition (ROI) by up to 50% compared to alternatives. This milestone enables the company to fulfill current customer commitments and demands while offering limited quantities for additional customers interested in evaluating their high-purity glucaric product.
The glucaric acid market covered in this report is segmented –
1) By Type: Calcium D-Glucarate, Pure Glucaric Acid, D-Glucaric Acid-1,4-Lactone, Potassium Sodium D-Glucarate, Other Types
2) By Application: Detergents, Healthcare, Food Manufacturing, Corrosion Inhibitors, Other Applications
3) By Sales Channel: Direct Sale, Indirect Sale
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Regional Insights –
North America was the largest region in the glucaric acid market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the glucaric acid market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the glucaric acid market are The Archer Daniels Midland Company, BASF SE, LyondellBasell Industries, Merck KGaA, Koninklijke DSM N.V, Sinochem Group, Roquette Frères SA, Novozymes A/S, Jungbunzlauer Suisse AG, Toronto Research Chemicals Inc, Codexis Inc., Cayman Chemical Company, Tokyo Chemical Industry Co. Ltd, Biosynth Ltd, Chemrez Technologies Inc, Parchem Fine & Specialty Chemicals, Santa Cruz Biotechnology Inc, Rennovia Inc, Alfa Chemistry, Rivertop Renewables, Haihang Industry Co Ltd, CHEMOS GmbH & Co KG, AK Scientific Inc, Kalion Inc, PMP Inc, Shandong Baovi Energy Technology Co Ltd, Otto Chemie Pvt Ltd, Glentham Life Sciences Limited
Table of Contents
1. Executive Summary
2. Glucaric Acid Market Characteristics
3. Glucaric Acid Market Trends And Strategies
4. Glucaric Acid Market – Macro Economic Scenario
5. Global Glucaric Acid Market Size and Growth
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32. Global Glucaric Acid Market Competitive Benchmarking
33. Global Glucaric Acid Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Glucaric Acid Market
35. Glucaric Acid Market Future Outlook and Potential Analysis
36. Appendix
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