According to the latest report by IMARC Group titled, “Fumaric Acid Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the market reached a value of US$ 631 Million in 2018. Looking forward, the market is expected to reach a value of US$ 855 Million by 2024, exhibiting a CAGR of around 5% during 2019-2024.

Fumaric acid (C4H4O4) is a dicarboxylic acid which is formed by the oxidation of succinic acid by succinate dehydrogenase. It is either white or colorless in appearance and occurs naturally in eukaryotes, bolete mushrooms, lichens, Iceland moss. It is also produced by the human body when the skin comes in contact with direct sunlight. Fumaric acid is utilized in the food industry for flavoring purposes owing to its sour taste. It also finds application in the production of industrial dyes, medicines, polyester resins, printing inks and animal feed.

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Fumaric acid is used in the food and beverage industry as a preservative, pH controller, flavor enhancer and acidulant. The increasing demand for fumaric acid can be attributed to the growing popularity of ready-to-eat food products and beverages. Additionally, it is found in numerous health and sports drinks, the demand for which is rising on account of the increasing health-consciousness among consumers. Apart from this, it is utilized in the construction sector for making unsaturated polyester resins which are further used in the production of auto parts and reinforcement panels. Furthermore, manufacturers are producing bio-based fumaric acid owing to the need for developing new processes based on renewable sources.

Key Market Segmentation:

Breakup by Application

• Food Additives
• Rosin-Sized Sheathing Paper
• Unsaturated Polyester Resins
• Alkyd Resins
• Others

Breakup by End-Use Industry

• Food and Beverages Industry
• Cosmetics Industry
• Pharmaceutical Industry
• Chemical Industry

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Breakup by Region

• North America
• Europe
• Asia Pacific
• Middle East and Africa
• Latin America

Competitive Landscape

The report has also examined the competitive landscape of global fumaric acid market. Some of the major players in the market are Bartek Ingredients Inc., Fuso Chemical Co., Ltd., Polynt, Prinova Group, Dastech International, Changzhou Yabang Chemical Co. Ltd., Nippon Shokubai, The Chemical Company, Thirumalai Chemicals, Wego Chemical Group, U.S. Chemicals and Huntsman Corporation.

Key highlights of the report:

• Market Performance
• Market Outlook
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Competitive Structure
• Profiles of Key Players

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