Glucaric Acid Market Share, Size, Price, Trends, Growth, Analysis, Report, Forecast 2023-2028
Global Glucaric Acid Market Share, Size, Price, Trends, Growth, Report and Forecast 2023-2028’, gives an in-depth analysis of the global glucaric acid market, assessing the market based on its segments like products, applications, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 9.9%
The glucaric acid market is being driven by the thriving detergents industry. The market growth can be attributed to the ban on phosphate use particularly in liquid detergents. The popularity of glucaric acid for household and laundry cleaning is significantly increasing as it acts as a builder, capturing magnesium and calcium found in hard water and prevents the formation of soap scum.
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Therefore, glucaric acid is becoming necessary in the detergents sector. Meanwhile, the rising application of the product in food sector due to the increasing health consciousness among the youth and middle-age population to maintain essential nutrient intake is likely to provide an impetus to the market. Furthermore, as the various sectors recover from the negative impacts of the pandemic, the product is likely to witness a rise in demand.
Industry Definition and Major Segments
Glucaric acid also known as saccharic acid, is a six-carbon dicarboxylic acid sugar, natural endogenous end-catabolite of UDP-glucose that is made by oxidizing a sugar like glucose with nitric acid. It is used as a green agent in food ingredients and a myriad of industrial applications.
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The glucaric acid market, on the basis of product, can be segmented into:
• Pure Glucaric Acid
• Calcium D-glucarate
• Potassium Sodium D-glucarate
• D-Glucaric Acid-1,4-lactone
On the basis of application, the market can be categorised into:
• Food ingredients
• Corrosion Inhibitors
• De-icing Chemicals
The regional markets for glucaric acid include:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Among these, North America accounts for a significant share of the glucaric acid market.
The rising awareness about the negative impact of non-biodegradable chemicals is likely to aid the market as the product is an eco-friendly biodegradable chemical. Furthermore, the growing application of glucaric acid in the formation of certain polymers like nylon is expected to enhance the product demand.
In the construction industry, glucaric acid is used as a corrosion inhibitor in concrete admixtures and the rising population and increasing middle-class disposable and discretionary incomes is expected to propel the product demand. The rapid technological advancements and increasing investments by the key players to develop innovative solutions with latest features are anticipated to significantly contribute to the market growth.
Key Market Players
The major players in the market are The Archer-Daniels-Midland Company, Kalion Inc., Chemos GmbH & CokG, Cayman Chemical, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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