An organic compound, fumaric acid is naturally occurring in bolete mushrooms and Iceland moss. Its broad-ranging applications across multiple industries ranges from acidulants in foods and pharmaceuticals to its use as feedstock for the synthesis of polymeric resins. Chemical industry, polymer industry, plasticizers industry, petrochemical industry, paints industry, and rubber industry are few other industries reaping the benefits of fumaric acid. Additionally, sustained demand from the cosmetic industry for personal care products have presented the subsequent need for fumaric acid to a large extent. The cumulative forces of these factors are projected to create sound opportunities for the growth of global fumaric acid market.
Burgeoning Automotive Sector to Sustain Fumaric Acid Market Growth Trajectory
Extensive applications of fumaric acid due to its functional properties is keeping up its demand. Fumaric acid is widely used in the manufacturing of unsaturated polyester resins. It maintains the stability of the unsaturated molecular chain. Over the past few years, the demand for unsaturated polyester raisins (UPRs) has surged, specifically in automotive sector. This is mainly attributed to its multiple use cases including manufacture of fibre-reinforced plastics and filled plastic products. Moreover, UPRs made from fumaric acid are widely used in the production of body panels for both heavy-duty and light vehicles. With a rapid growth of automotive industry, the demand for fumaric acid is set to witness a significant boost in demand. Together, these aspects are expected to fuel the growth of the global fumaric acid market
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Fumaric Acid as Food Additive in Processed Food to Unlock New Avenues for Market Growth
A consistent rise in usage of fumaric acid in food processing is one of the major factors driving the fumaric acid market. Owing to its sourness, fumaric acid is considered as a safe additive for processing foods to maintain their stability and induce tartness. Furthermore, it significantly enhances the flavour of food and adds a long-lasting sourness based on the hydrophobicity of the product. It is also added to frozen food products, particularly in smoked meat products and seafood to enrich the flavour and stabilisation of the product under changing environment temperatures and conditions. Therefore, the stable growth in the food and beverage industry worldwide is expected to bode well for the global fumaric acid market in the coming years.
Asia Pacific to Lead Global Fumaric Acid Market with Flourishing Food & Beverage Industry
Asia Pacific is likely to emerge as the market leader on the solid turf of increasing applications of fumaric acid across the food and beverage industry. Growing demand for convenience food products, steady rise in GDP per capita income, and concentration of consumers are marking an upward trend in the regional fumaric acid market. With consistent uptick in application of fumaric acid in food and beverage industry, construction, pharmaceuticals, cosmetics, and chemical sectors, Japan, India, and China are exhibiting promising growth prospects. Against such a positive business backdrop, the region is anticipated to thrive throughout the forecast period.
Prominent Market Players
Some of the most competitive players in the global fumaric acid market include Changzhou Yabang Chemical Co. Ltd., Xilong Chemical Company Ltd., Thirumalai Chemicals, Polynt, Nippon Shokbai Co. Ltd., Bartek Ingredients, Fuso Chemicals, Prinova LLC, Dastech International Inc., Yantai Hengyuan Bioengineering, Wego Chemicals & Mineral Corp., and Tianjin Bohai Chemicals.
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