Increasing demand for bio-based unsaturated polyester resin are propelling the market growth.
North America Itaconic Market Size – USD 94.5 Million in 2020, Growth - CAGR of 4.3%, Trends – Surge in methyl methacrylate (MMA) production in order to replace petrochemicals.
The global North America Itaconic Market is forecast to reach USD 133.2 Million by 2028, according to a new report by Reports and Data. North America Itaconic acid or methylidenesuccinic acid is an organic compound, which is soluble in water. This dicarboxylic acid is a white solid, and it is obtained by the distillation of citric acid. But currently, the fermentation process is more popular among the processes. This chemical has usage in SRB latex, synthetic latex, chillant dispersant agent, and superabsorbent polymers.
The market for North America Itaconic Acid is influenced by the rising demand for skincare products, the evolution of environment friendly chemicals required by end-use industries, and increasing demand for bio-based unsaturated polyester resin.
The factors mentioned above collectively create opportunities for market growth, while factors such as availability of low-cost substitutes in the market pose limitations in the market. However, each factor would have a definite impact on the market during the forecast period. Consistent advancements in the North America Itaconic Acid market owing to innovative efforts have enhanced the efficiency of North America Itaconic acid.
The North America Itaconic acid market in the Asia Pacific region is forecasted to grow at a significant speed due to the increasing demand for North America Itaconic acid from countries such as India, China, South Korea, Indonesia, and Thailand, among others, for use in various applications. Moreover, increasing foreign direct investment (FDI) in multiple industries in these economies are also contributing to the growth of the Asia Pacific North America Itaconic acid market.
Get a sample of the report https://www.reportsanddata.com/sample-enquiry-form/2140
Top Companies: Itaconix Corporation, Qingdao Langyatai Group Co., Ltd., Zhejiang Guoguang Biochemistry Co., Ltd., Jinan Huaming Biochemistry Co. Ltd., Iwata Chemical Co., Ltd., Alpha Chemika, Shandong Kaison Biochemical Co., Ltd., Aekyung Petrochemical Co. Ltd., Chengdu Jinkai Biology Engineering Co., Ltd., and Ronas Chemicals Ind. Co., Ltd. among others.
Further Key Finding from the Report Suggestion:
- The fermentation process segment held a larger market share of 71.3% in the year 2018. Due to the depletion of fossil fuels, the fermentation process has replaced all the petroleum-based methods.
- Styrene Butadiene segment is forecasted to grow with the highest CAGR of 4.9% during the forecast period. Styrene butadiene North America Itaconic acid possesses superior properties such as excellent bonding, tensile strength, binder strength, frothing machinability, and anti-oxidation properties. This portrays in the glossy finish and smoothness in paper processing and paper coating application.
- The superabsorbent polymers segment is forecasted to grow with the highest CAGR of 4.9% during the forecast period. The North America Itaconic acid-based superabsorbent polymers are primarily used in cosmetics, skincare, personal care, and hygiene care industries. Superior properties of North America Itaconic acid are expected to increase its use in these applications and will boost the market for North America Itaconic acid in the forecast period.
- The Asia Pacific region held the largest market share of 56.3% in the year 2018. The region is the major producer as well as the consumer for North America Itaconic acid market. Countries such as China, India, and Thailand are some of the major exporters of North America Itaconic acid in the market.
Market Overview:
Consumers are placing a higher importance on sustainability and, as a result, are choosing items based on factors like circularity and carbon footprint. Furthermore, consumer concern about carbon emissions has prompted increased investment in renewable energy, energy efficiency, and transportation decarbonization. These developments have had considerable impact on chemical end sectors, particularly in the automobile and construction industries. COVID-19 has exacerbated the situation by lowering the automobile and construction industries (as well as many others) and disrupting current supply lines.
Download Summary: https://www.reportsanddata.com/download-summary-form/2140
The global North America Itaconic Acid market is segmented into:
Process Outlook (Volume, Kilo Tons; Revenue, USD Million; 2018-2028)
- Synthesis
- Fermentation
Derivatives Outlook (Volume, Kilo Tons; Revenue, USD Million; 2018-2028)
- Styrene Butadiene
- Methyl Methacrylate
- PolyNorth America Itaconic Acid
- Others
Applications Outlook (Volume, Kilo Tons; Revenue, USD Million; 2018-2028)
- SBR Latex
- Synthetic Latex
- Chillant Dispersant Agent
- Superabsorbent Polymer
- Others
Regional Outlook:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market?
- What kind of strategic business plans have they made?
Request a customization of the report https://www.reportsanddata.com/request-customization-form/2140
Thank you for taking the time to read our article. The report can be tailored to the needs of the client. Please contact us for more details, and our team will tailor the report to your specific requirements.
Browse More Reports:
High-Performance Alloys Market https://www.reportsanddata.com/report-detail/high-performance-alloys-market
Monopropylene Glycol Market https://www.reportsanddata.com/report-detail/monopropylene-glycol-market
Photocatalyst Market https://www.reportsanddata.com/report-detail/photocatalyst-market
Low Profile Additives Market https://www.reportsanddata.com/report-detail/low-profile-additives-market
Hexamethylenediamine Market https://www.reportsanddata.com/report-detail/hexamethylenediamine-market
About Us:
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
Contact Us:
John W
Head of Business Development
Reports And Data | Web: www.reportsanddata.com
Direct Line: +1-212-710-1370
E-mail: sales@reportsanddata.com
LinkedIn | Twitter | Blogs | Insights
Read the innovative blog at https://www.reportsanddata.com/blogs
Check out our upcoming research report at https://www.reportsanddata.com/upcoming-reports
