Glucaric Acid Market is anticipated to reach over US $1,467 million by 2026, according to the latest research available at Market Study Report LLC, report provides extensively data on market share, growth, trends and forecasts for the period 2018-2026.
According to the study, increasing application in agriculture, chemical, and food industries are driving glucaric acid market growth. Apart from this, use of glucaric acid in polymer manufacturing process compliments product demand.
Moreover, increasing use of glucaric acid in detergents instead of phosphates owing to strict regulations associated with the harmful environmental effects of phosphates will support market growth. The report claims that in 2017, the detergents segment led the global glucaric acid market in terms of revenue.
Factors like growing awareness regarding environmental protection, and rising research and development in the industry are likely to boost market size. Furthermore, growing demand from developing nations, and rising use in healthcare sector is expected to offer new growth opportunities to players involved in the glucaric acid market over the forecast period.
In terms of regional development, Asia-Pacific is anticipated to become a leading contributor to global glucaric acid market revenue over the forecast period. In 2017, the region generated the highest market proceeds, claims the study. Whereas growing application in the chemical and agriculture industries in the region significantly drives glucaric acid market growth.
Surging demand for detergents along with growing environmental concerns in the region are estimated to boost industry size. Moreover, increasing demand of glucaric acid for creating animal feed coupled with growing demand for maintaining livestock health is expected to bolster adoption of glucaric acid, thereby augmenting Asia Pacific market outlook over the forecast period.
The global glucaric acid market primarily comprises of several domestic and international players. The report includes an intricate study of the competitive spectrum of this vertical comprising of the leading firms like Rivertop Renewables, Inc., Cayman Chemical, Haihang Industry Co., Ltd., Carbosynth Ltd., Alfa Chemistry, Rennovia Inc., Kalion Inc., Merck KGaA, Shanghai Meicheng Chemical Co. Ltd., and AK Scientific Inc. among others.
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The report cites that renowned firms are increasingly launching new products into the market, primarily in a bid to expand their business reach. These organizations are also collaborating with other market players to develop advanced products that can effectively satisfy end-user demands and requirements.
The report offers a brief outline of glucaric acid market with respect to Porter’s five forces, industry trends, market forces, ecosystem analysis, competitive ranking analysis, and PEST analysis. It also provides an extensive quantitative and qualitative analysis of potential growth prospects and future trends in glucaric acid market between 2018-2026.