Press release
Itaconic Acid Market Key Players are Itaconix Corporation, Lucite International, Shandong Kaison Biochemical Co.,Ltd, ALPHA CHEMIKA, Iwata Chemical, FUSO Chemical Co. Ltd, DSM
Itaconic Acid Market has witnessed a dynamic change with the shifting trends from petrochemicals toward sustainable chemical materials. With rising concerns over diminishing fossil fuel resources, efforts are being made to produce chemicals from green or biomass feedstock. Growing inclination of the chemical industry base toward more high-tech and environment friendly products in order to replace petrochemicals has so far depicted strong growth chart for itaconic acid industry. This product finds key application in the production of methyl methacrylate (MMA), owing to the rising adoption of biotechnological methods in product manufacturing by the industry players. On these grounds, PMMA market, which is set to record USD 10 billion by 2024, is set to leave a remarkable impact on the worldwide itaconic acid industry.
Request for a sample of this research report @ https://www.gminsights.com/request-sample/detail/782
In 2004, itaconic acid was identified as one of the top 12 value added chemicals derived from biomass, which offered a suitable platform to produce polymers, biofuels, coatings, and chemical compounds. However, polymerization of itaconic acid was a key barrier to its commercial development which was later overcome by the researchers of University of Hampshire. This led to an escalated surge in the commercialization of itaconic acid industry worldwide.
Accounting for more than 50% of the global itaconic acid demand, Asia Pacific has emerged as a major avenue in the itaconic acid industry. China led the regional growth and is anticipated to collect USD 20 million by 2024. Asia Pacific is drawing significant attention of the prominent industry players, owing to favorable workforce conditions and taxation laws. The industrial production of itaconic acid is highly concentrated in China including major companies such as Jinan Huaming Biochemistry, Zhejiang Guoguang Biochemistry, and Qingdao Kehai Biochemistry. European norms to curb the production of sodium tripolyphosphate (STPP) based detergents is set to propel regional itaconic acid market share from detergent applications. Furthermore, favorable government regulations to promote bio-based production for the sake of environmental safety is substantially driving Germany itaconic acid market.
Make an inquiry for purchasing this report @ https://www.gminsights.com/inquiry-before-buying/782
Exclusive properties of itaconic acid such as enabling high densities cell growth, robustness, easy to get genetically engineered, and stability have led to a higher product deployment in several applications including synthetic latex, unsaturated polyester resins (UPR), detergent builders, chelant dispersant agents, and methyl methacrylate across myriad industries such as pharmaceutical, agriculture, and lighting. Synthetic latex itaconic acid market held over half of the overall industry share in 2015, owing to its use to improve the finished product quality. Furthermore, itaconic acid is a potential green alternative to maleic anhydride in unsaturated polyester resins. The itaconic acid industry size is set to expand parallelly with the expanding UPR market, owing to the diversified product applications across transportation, construction, and marine industries.
Itaconic acid industry is gaining a huge valuation on account of being a potential intermediate for the manufacturing of eco-friendly chemical compounds. As per a report compiled by Global Market Insights, Inc., the global itaconic acid market collected revenue worth over USD 75 million in 2015 and is projected to reach USD 290 million by 2024, expanding at an annual growth rate of 16.8% over the period of 2016-2024.
About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
Contact Us:
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: www.gminsights.com
Request for a sample of this research report @ https://www.gminsights.com/request-sample/detail/782
In 2004, itaconic acid was identified as one of the top 12 value added chemicals derived from biomass, which offered a suitable platform to produce polymers, biofuels, coatings, and chemical compounds. However, polymerization of itaconic acid was a key barrier to its commercial development which was later overcome by the researchers of University of Hampshire. This led to an escalated surge in the commercialization of itaconic acid industry worldwide.
Accounting for more than 50% of the global itaconic acid demand, Asia Pacific has emerged as a major avenue in the itaconic acid industry. China led the regional growth and is anticipated to collect USD 20 million by 2024. Asia Pacific is drawing significant attention of the prominent industry players, owing to favorable workforce conditions and taxation laws. The industrial production of itaconic acid is highly concentrated in China including major companies such as Jinan Huaming Biochemistry, Zhejiang Guoguang Biochemistry, and Qingdao Kehai Biochemistry. European norms to curb the production of sodium tripolyphosphate (STPP) based detergents is set to propel regional itaconic acid market share from detergent applications. Furthermore, favorable government regulations to promote bio-based production for the sake of environmental safety is substantially driving Germany itaconic acid market.
Make an inquiry for purchasing this report @ https://www.gminsights.com/inquiry-before-buying/782
Exclusive properties of itaconic acid such as enabling high densities cell growth, robustness, easy to get genetically engineered, and stability have led to a higher product deployment in several applications including synthetic latex, unsaturated polyester resins (UPR), detergent builders, chelant dispersant agents, and methyl methacrylate across myriad industries such as pharmaceutical, agriculture, and lighting. Synthetic latex itaconic acid market held over half of the overall industry share in 2015, owing to its use to improve the finished product quality. Furthermore, itaconic acid is a potential green alternative to maleic anhydride in unsaturated polyester resins. The itaconic acid industry size is set to expand parallelly with the expanding UPR market, owing to the diversified product applications across transportation, construction, and marine industries.
Itaconic acid industry is gaining a huge valuation on account of being a potential intermediate for the manufacturing of eco-friendly chemical compounds. As per a report compiled by Global Market Insights, Inc., the global itaconic acid market collected revenue worth over USD 75 million in 2015 and is projected to reach USD 290 million by 2024, expanding at an annual growth rate of 16.8% over the period of 2016-2024.
About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
Contact Us:
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: www.gminsights.com
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage
to this press release on woodPRI. woodPRI disclaims liability for any content contained in
this release.
Recommend
/newsMicroencapsulation Market Deep Analysis on Key Players - Dow Corning, Encapsys, Syngenta Crop Protection, Evonik Industries, 3M and Bayer
Market Study Report Adds Global Microencapsulation Market Size, Status and Forecast 2024 added to its database. The report provides key statistics on the current state of the industry and other analytical data to understand the market.
Extensive research is required for choosing the appropriate cor...
/newsGermany Airbag Market Size 2023: Global Share, Industry And Report Analysis By 2030 | Hyundai Mobis Co., Ltd. Key Safety Systems, Inc. Robert Bosch GmbH
Germany airbag market is expected to grow at a CAGR of around 6% during the forecast period. Germany Airbag Market research report refers to gathering and analyzing significant market data serve as best medium for various industry players to launch novel product or service. It is vital for key firms...
/newsSecurities Brokerages And Stock Exchanges Market Outlook 2021: Big Things are Happening
A new intelligence report released by HTF MI with title "Global Securities Brokerages And Stock Exchanges Market Survey & Outlook" is designed covering micro level of analysis by Insurers and key business segments, offerings and sales channels. The Global Securities Brokerages And Stock Exchange...
/newsRenewable Chemicals Market Emerging Trends and Competitive Landscape Forecast to 2028
The renewable chemicals market was valued at US$ 80,566.30 million in 2021 and is projected to reach US$ 1,76,750.76 million by 2028 it is expected to grow at a CAGR of 11.9% from 2021 to 2028. The research report focuses on the current market trends, opportunities, future potential of the market, a...
/newsHow Coronavirus is Impacting Cold Brew Coffee, Global Market Volume Analysis, Size, Share and Key Trends 2020-2026
"Market Latest Research Report 2020:
Los Angles United States, February 2020: The Cold Brew Coffee market has been garnering remarkable momentum in the recent years. The steadily escalating demand due to improving purchasing power is projected to bode well for the global market. QY Research's lates...
/newsCorporate E-Learning Market - Global Industry Size, Share, Key Players Analysis that are Infor, SkillSoft Corporation, Adrenna, CERTPOINT Systems and others with Regional Forecast to 2022
Overview:
E-Learning is used to enhance the learning procedures for newer job requirements and to make employees sound about the internal and external changes in the market and respective organizations. This method has created considerable differences in the ways of training and developing employee...
