Glucaric Acid Market Size By Application (Detergent, Food, Corrosion Inhibitors, De-Icing), By Downstream Potential (Potassium Sodium Glucaric Acid, Calcium D Glucarate, D Glucaric Acid-1, 4-Lactone ), Industry Analysis Report, Regional Outlook (U.S., Canada, Mexico, Germany, UK, France, Italy, Spain, Russia, China, India, Japan, South Korea, Australia, Thailand, Indonesia, Brazil, Saudi Arabia, UAE, South Africa), Application Potential, Price Trend, Competitive Market Share & Forecast, 2018 - 2024
Glucaric Acid Market is set to surpass USD 440 million by 2024; according to a new research report.
Growing consumer conscience towards healthy lifestyle is propelling glucaric acid market growth. It is important for human health owing to preserving levels of essential nutrients and producing enzyme. It is also used in detergents, corrosion inhibitors, and de-icing applications. Thus, stimulating product demand.
The product block deposition of limescale & dust on saucers along with its utilization as a substitute to phosphate detergents, which are being banned owing to ecological concerns. It can also be used as food ingredients, owing to its nontoxic nature, thereby propelling product demand.
Growing utilization of safe chemical in manufacturing of food ingredients and detergents in order to minimize health effects is anticipated to boost glucaric acid demand. Supplementing glucaric acid intake may inhibit cancer growth cells, and enrich female hormone levels, which is anticipated to fuel product demand.
Glucaric acid market from corrosion inhibitors may witness strong gains up to 9% by 2024. It is a significant corrosion inhibitor and can be used in applications where water contacts metallic exteriors often. Producers have found saccharic acid valuable in diverse products from residential cleaning to cooling tower treatment programs thus, escalating industry growth.
Beneficial government policies supporting utilization of organic chemicals in detergents, food ingredients and deicing agents is likely to encourage product demand. Initiatives from FDA & EU pertaining to use of safe chemicals will develop glucaric acid industry in the projected timeframe.
Rising prices of organic raw material may affect market price trends, hence hindering glucaric acid industry profitability. The catalytic agent essential for its commercial manufacturing are expensive and does not encounter economies of scale if not produced in large scale, hence saccharic acid is high priced.
Glucaric acid market demand in food application is anticipated to surpass USD 110 million up to 2024 owing to its optimistic influences on liver along with its potential to evade diseases like colon, ovarian and hormone-dependent tumors. Its influence in detoxification of unnecessary estrogenic activity in human body and its application as an alternate to tamoxifen is likely to foster industry growth.
China glucaric acid market from detergent application may observe significant gains up to 9% by 2024. Companies are substituting synthetic elements including phosphate with safer and effective products including potassium sodium glucaric, calcium D glucarate, and 4-lactone. Prohibition of phosphate compounds, consumers are purchasing detergents which are non-toxic in nature, which may favor regional saccharic acid growth.
UK potassium sodium D Glucarate industry is anticipated to surpass 1 kilo tons at the end of 2024 due to its utilization in deicing applications. The product is used for development of high-performance anti-ice inventions, ensuing decreased environmental impact, and lower corrosion impacts & costs. It has also been recognized for assistance in reducing degeneration of cement concrete in the presence of anti-ice solutions and thaw cycles escalating glucaric acid market growth.
Glucaric acid market is consolidated and competitive with major industry players including Alfa Chemistry, Rennovia, Cayman Chemicals, Haihang Industry, Kalion Inc., and Haihang Industry. Growing demand of organic components has stimulated producers to strongly invest in R&D for manufacturing efficient products. Manufacturers are capitalizing on product innovation & design and production capacities.
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