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 biobased unsaturated polyester resin and nontoxic 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 acidbased SBR latex makes them useful in different enduse industries, such as in coated paper cards, nonwoven 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 125%, Tier 235%, and Tier 340%
By designation CLevel Executives30%, Director Level25%, 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
Research Coverage
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.