Global Glucaric Acid Market, By Product (Pure Glucaric Acid, Calcium D-Glucarate, Potassium Sodium D-glucarate, D-glucaric acid, 1-4-lactone and Others), Application (Food Ingredients, Detergents, Corrosion Inhibitors, De-icing applications and Others) – Industry Trends and Forecast to 2029.
Glucaric Acid Market Analysis and Size
The glucaric acid market size will be boosted by rising consumer preference for bio-based products due to its biodegradable and non-toxic nature as well as improved product quality. Saccharic acid is another term for the product that is used in marketing campaigns. Advanced ingredients have been added due to the high demand for premium organic and multifunctional components, which may help the market grow. during the forecast period of 2022-2029.
Data Bridge Market Research analyses that the glucaric acid market was valued at USD 529.38 million in 2021 and is expected to reach USD 1090.17 million by 2029, registering a CAGR of 9.45% during the forecast period of 2022 to 2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Glucaric Acid Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Product (Pure Glucaric Acid, Calcium D-Glucarate, Potassium Sodium D-glucarate, D-glucaric acid, 1-4-lactone and Others), Application (Food Ingredients, Detergents, Corrosion Inhibitors, De-icing applications and Others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Merck KGaA (Germany), BASF SE (Germany), TCI Chemicals (India), Kalion Inc. (U.S.), Alfa Aesar (U.S.), Biosynth Carbosynth (Switzerland), Cayman Chemicals (U.S.), Jungbunzlauer Suisse AG, Basel (Switzerland), Occidental Petroleum Corporation (U.S.), PMP Inc (U.S.), R-Biopharm (Germany), biofuels Digest (U.S.), Rivertop Renewables, Inc. (U.S.), Navozymes (Denmark), Occidental Petroleum Corporation, Roquette Freres (France), Haihang Industry (China)
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Market Opportunities
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Market Definition
Glucaric acid is also known as saccharic acid. This chemical compound is derived from a chemical reaction between sugar oxidation and nitric acid. The chemical formula of glucaric acid is C6H10O8. Glucaric acid has been recognized by the US Department of Energy which is one of the major building blocks chemicals. This acid is biodegradable chemical which is eco-friendly in nature.
Global Glucaric Acid Market Dynamics
Drivers
- High demand of glucaric acid instead of phosphates
The chemicals such as phosphates which is used in the construction industry, are expected to be replaced by the glucaric acid because of its renewable and natural nature. The issues associated with phosphates' use, such as their toxic nature, are expected to majorly drive the demand of the glucaric acid market. The increasing demand of glucaric acid in the place of phosphates are anticipated to drive the market growth rate.
- Rising demand of glucaric acid as a cleansing agent
Glutamic acid is the perfect cleansing agent because it acts as a building agent that captures the calcium and magnesium in hard water and prevents these elements from accumulating. Detergents are one of the major applications of glucaric acid because it is used as a substitute for phosphates. Now, phosphates are banned from dishwasher detergents so the glucaric acid is highly used as an alternative in the market which is anticipated to increase the growth of the glucaric acid market during the forecast period.
Furthermore, pure glucaric acid demand is anticipated to flourish due to the stringent regulations with the use of harmful chemicals to curtail environmental damage. The increase in the demand of liquid detergent industry among consumer will still play a vital role in the growth of glucaric acid market. Glucaric acids is environment-friendly biodegradable chemical, with the growing threats of non-biodegradable chemicals that has increased the demand for biodegradable chemicals which is the another significant factor for the market growth.
Opportunities
- Growing demand of glucaric acid in several industries
The major companies involved in the manufacture of glucaric acid are applying proven science to renewable resources, creating far more and abundant economical supply of glucarate and its byproducts. Glucaric acid finds several potential applications in pharmaceuticals, food and polymer industries, which has created lucrative opportunities for the growth of the glucaric acid market.
Furthermore, numerous measures supporting sustainability and environmental conservations are expected to promote glucaric acid application in several end-user industries. Favourable consumer spending patterns are anticipated to increase investments in the detergent, food and other industry which will indirectly support the sales of glucaric acid are some other major factors that accelerate the market growth during the forecast period of 2022-2029.
Restraints/ Challenges
- High cost associated with market
Expensive manufacturing process, high labour cost, and competitive market are some major factors that are anticipated to remain a major challenge for the major market players in the glucaric acid market.
- Challenges in production of glucaric acid
The processing of glucaric acid is a single-step method, In the process of glucaric acid production requires the use of nitric acid which is leading to the creation of hazardous NOx gas and waste. Therefore, the large-scale production of glucaric acid is hindered to some extent by the production of NOx gas which is expected to hamper the growth of the glucaric acid market.
This glucaric acid market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the glucaric acid market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.
Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
Global Glucaric Acid Market Scope
The glucaric acid market is segmented on the basis of product and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product
- Pure Glucaric Acid
- Calcium D-Glucarate
- Potassium Sodium D-glucarate
- D-glucaric acid
- 1-4-lactone
- Others
Application
- Food Ingredients
- Detergents
- Corrosion Inhibitors
- De-icing applications
- Others
Glucaric Acid Market Regional Analysis/Insights
The glucaric acid market is analysed and market size insights and trends are provided by country, product and application as referenced above.
The countries covered in the glucaric acid market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific dominates the glucaric acid market in terms of revenue and market share. This is due to the rising demand for this product from the food and detergent industry especially in the emerging economies such as China and India in this region
North America is expected to be the fastest developing region during the forecast period of 2022-2029 because its usage is supported by governing authorities such as Environmental Protection Agency (EPA) in this region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Glucaric Acid Market Share Analysis
The glucaric acid market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to glucaric acid market.
Some of the major players operating in the glucaric acid market are:
- Merck KGaA (Germany)
- BASF SE (Germany)
- TCI Chemicals (India)
- Kalion Inc. (U.S.)
- Alfa Aesar (U.S.)
- Biosynth Carbosynth (Switzerland)
- Cayman Chemicals (U.S.)
- Jungbunzlauer Suisse AG, Basel (Switzerland)
- Occidental Petroleum Corporation (U.S.)
- PMP Inc (U.S.)
- R-Biopharm (Germany)
- biofuels Digest (U.S.)
- Rivertop Renewables, Inc. (U.S.)
- Navozymes (Denmark)
- Roquette Freres (France)
- Haihang Industry (China)
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