Global Tartaric Acid Market 2018-2022
About Tartaric Acid
Tartaric acid or 2,3-dihydroxybutanedioic acid is a white crystalline organic acid found naturally in many plants, especially grapes. It is used in baking powders, effervescent beverages, confectionaries, and photography. It is also used in tanning leather, silvering mirrors, and in manufacturing Rochelle salt.
Technavio’s analysts forecast the global tartaric acid market to grow at a CAGR of 5.51% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global tartaric acid market for 2018-2022. To calculate the market size, the report considers the revenue generated from the sales of tartaric acid.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Tartaric Acid Market 2018-2022
Technavio recognizes the following companies as the key players in the global tartaric acid market: Caviro 88 Distillerie Bonollo, Distillerie Mazzari , DERIVADOS VINICOS, Giovanni Randi, and Tártaros Gonzalo Castelló
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is increasing urbanization and rising disposable income. Ongoing economic development in India, Vietnam, China, Qatar, the UAE, and other developing economies has led to an increase in the disposable income and rise in urbanization, owing to which there is an increase in the purchasing power. In addition, rapid modernization, population growth, and changing lifestyle preferences have contributed to the rising demand for construction projects.”
According to the report, one of the major drivers for this market is Growing construction industry. The global construction industry is estimated to reach $10.3 trillion in 2020. APAC has some of the world's leading economies, namely Indonesia, China, India, Japan, and the Philippines. Apart from these, Vietnam and Malaysia are considered as potential emerging markets, while Singapore is one of the growing markets in terms of the quality of infrastructure and development. The infrastructure in Europe and North America is of good quality, depicting proper coordination and planning between the public and private players that are looking for the development and handling of existing and new construction projects. This helps these regions in attracting external investors to provide aid for the rehabilitation and reconstruction of existing structures.
Further, the report states that one of the major factors hindering the growth of this market is Substitutes for tartaric acid. Tartaric acid can be substituted with other organic acids such as citric acid. Citric acid is commonly found in limes, lemons, and pineapples. Since tartaric acid production is expensive, citric acid can be considered as an alternative, as it is manufactured from natural sources. Citric acid can be used as an alternative to wine as well. Cream of tartar can also be a substitute for tartaric acid in baking food items, especially for foaming egg white. It is also used in manufacturing chocolate candy. It is used in the preparation of specific jams to prevent the growth of C. botulinum. These substitutes will have a negative impact on the demand for tartaric acid.
Caviro 88 Distillerie Bonollo, Distillerie Mazzari , DERIVADOS VINICOS, Giovanni Randi, and Tártaros Gonzalo Castelló