Itaconic Acid Market by Derivative (Styrene Butadiene, Methyl Methacrylate, Polyitaconic Acid), Application (SBR Latex, Synthetic Latex, Chillant Dispersant Agent, Superabsorbent Polymer), and Region - Global Forecast to 2022
“The itaconic acid market is projected to grow at a CAGR of 4.1% from 2017 to 2022 in terms of value.”
The itaconic acid market is projected to grow from USD 83.8 million in 2017 to USD 102.3 million by 2022, at a CAGR of 4.1% from 2017 to 2022. Major factors fueling the growth of the itaconic acid market include the increasing demand for bio-based unsaturated polyester resin and non-toxic properties of itaconic acid. Availability of cheap substitutes is the major factor restraining the growth of the itaconic acid market across the globe.
“The SBR latex is the largest application segment of the global itaconic acid market.”
Based on application, the SBR latex segment accounted for the largest share of the global itaconic acid market in 2016. SBR latex offers improved bonding & tensile strength, good adhesion, resistance to moisture & chemicals, etc. These features of itaconic acid-based SBR latex makes them useful in different end-use industries, such as in coated paper & cards, non-woven textiles, paper processing, carpet backing, etc. These factors are projected to drive the SBR latex application segment of the global itaconic acid market between 2017 and 2022.
“The Asia Pacific itaconic acid market is projected to grow at the highest CAGR between 2017 and 2022.”
The Asia Pacific itaconic acid market is projected to grow at the highest CAGR from 2017 to 2022. The growth of the Asia Pacific itaconic acid market can be attributed to the increasing demand for itaconic acid for use in SBR latex and the synthetic latex applications in the region. The increasing demand for itaconic acid from emerging economies such as China, India, Indonesia, and Malaysia, among others, makes the Asia Pacific region one of the lucrative markets for the manufacturers of itaconic acid.
This study has been validated through primaries conducted with various industry experts, globally. These primary sources have been divided into the following 3 categories:
• By company type - Tier 1-25%, Tier 2-35%, and Tier 3-40%
• By designation - C-Level Executives-30%, Director Level-25%, and Others- 45%
• By region - North America- 30%, Asia Pacific- 30%, Europe- 25%, the Middle East & Africa- 10%, and Latin America- 5%
The report provides a comprehensive analysis of companies listed below:
• Itaconix Corporation (UK)
• Qingdao Langyatai (China)
• Zhejiang Guoguang (China)
• Alpha Chemika (India)
• Shandong Kaison (China)
• Jinan Huaming (China)
• Iwata Chemical (Japan)
• Aekyung Petrochemical (South Korea)
• Ronas Chemical (China)
• Chengdu Jinkai (China)
This report covers the itaconic acid market and forecasts its market size till 2022. The report includes market segmentation based on derivative (SBIA, MMA, PIA, and others), application (SBR latex, synthetic latex, chillant dispersant agents, superabsorbent polymers, and others), and region (North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America). The Porter’s Five Forces analysis, along with drivers, restraints, opportunities, and challenges has also been discussed in this report on the itaconic acid market. In addition, it provides company profiles and competitive strategies adopted by the major players of the itaconic acid market.
Reasons to Buy the Report:
The report is expected to help market leaders/new entrants in the itaconic acid market in the following ways:
1. This report comprehensively segments the itaconic acid market and provides the closest approximation of revenues for the overall market and its subsegments across different verticals and regions.
2. The report helps stakeholders understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities for the itaconic acid market.
3. This report is expected to help stakeholders understand their competitors and gain insights about the market to enhance the position of their businesses. The competitive landscape section includes information on joint ventures, agreements, expansions, and mergers & acquisitions undertaken by the leading players in the itaconic acid market.
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