Itaconic Acid is the type of bio-based product, also referred as methyl succinic acid, which is found by distillation process of citric acid, that is an organic component, and it is used for the production of acrylate latexes and acrylonitrile butadiene. Itaconic Acid Market is the niche market due to its limited consumption in various end use industries on availability of large number of substitute. Itaconic Acid is used for production of a styrene butadiene rubber, deodorants, adhesives, unsaturated polyesters, reinforced glass fibers, polyesters resins, fabric binders, ion exchange resins and organosiloxanes. Also, Itaconic Acid is applied for manufacturing of SBR latex, used in construction sector cement, motors, and coats.
Over the decade, there have been some awe-inspiring innovations and moves happened in the chemical industry, across the globe. Substantial investments are poured in the industry to drive R&D activities which, in turn, bring innovations as well as improvements in the existing products.
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Increase in trend of eco- friendly products due to increase in awareness towards green house emission is expected to boost the global itaconic acid market growth, during this forecast period. Itoconic acid is bio-degradable and non-toxic in nature which is used to manufacturing of sealants, finishing agents, paints and coatings, adhesives. Furthermore, rise in demand for the production of fiber reinforced polymer (FPR) composites, pipes, laminating resins, and electrical cabinets are expected to propel the global itaconic acid. Moreover, increase in usage of itconic acid in cosmetic products will have the global itaconic acid market growth.
However, upsurge in demand for bio-based itaconic acid is expected to hinder the global itaconic acid market growth.
Global Itaconic Acid Market is segmented into type such as Synthesis and Fermentation. Further, Global Itaconic Acid Market is segmented into global itaconic acid market into application such as Plasticizer, Lubricating Oil Additives, and Others.
Also, Global Itaconic Acid Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East and Africa.
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The market report has been accumulated with the assistance of many primary (interviews, surveysobservations,) and secondary (journals, industrial databases,) sources to distinguish and gather proper information for this broadcommercial, market-oriented, and technical estimation. Porter’s Five Force Model has been implementedto determinethe market assessment precisely and to verify the several strengths, and weaknesses, along with opportunities, and threats (SWOT analysis), and multiple quantitative and qualitative study related with the market.
Market Key Players
Various key players are discussed in this report such as
- Qingdao Langyatai (Group) Co., Ltd,
- Chengdu Jinkai Biology Engineering Co., Ltd,
- Jinan Huaming Biological Technology Co., Ltd,
- Shandong Kaison Biochemical Co., Ltd,
- Zhejiang Guoguang Biochemistry Co., Ltd, and
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