The growing demand for fumaric acid in the construction sector, along with the increased application in pharmaceuticals will boost the market growth.

NEW YORK CITY, NY, UNITED STATES, March 5, 2022 /EINPresswire.com/ -- According to a new report by Reports and Data, the global Fumaric Acid Market is forecast to reach USD 974.4 Million by 2027. The growing popularity of energy drinks among athletes and fitness conscious population has spurred the growth of fumaric acid. The increase in the application of acid in various end-use industries has encouraged its growth, particularly the boost from the food and beverage industry. The market product plays a crucial role in the manufacture of energy drinks, for stabilizing the beverage and maintaining its quality over time.

Fumaric acid also finds application in unsaturated polyester resins and alkyd resins to maintain the molecular chain. The demand for these products is expected to grow in the coming years owing to their application in construction as well as automotive production. Thus, an increase in construction activities all across the globe, and expansion of automotive production will foster the market demand.

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Strict government regulations regarding the impact of the acid on the environment and concerns to lower carbon footprint are expected to limit the market growth, although an increase in the research and development for bio-based fumaric acid is expected to provide growth opportunities to the market vendors.

Market Dynamics:
The global Fumaric Acid market research report provides a brief overview inclusive of the competitive landscape and key developments in the market. It also offers insights into company overview, financial standing, business expansion plans, and revenue growth of each company. It also sheds light on product advancement, technological developments, and research and development activities. It provides an extensive study analysis of the strategic alliances such as mergers and acquisitions, joint ventures, collaborations, product launches, brand promotions, corporate deals, and partnerships, among others.

The materials and chemicals industry covers products such as detergents, soaps, perfumes, and chemicals required for research and manufacturing. Some of the products made by the industry are directly purchased by the consumers while others are used as intermediates to make other products. The industry uses a wide range of raw materials and there has been increasing innovation in manufacturing and production to find new ways to cater to the increasingly demanding and environmentally conscious consumers across the globe. Availability of raw materials at affordable prices, rapid globalization and industrialization, and advancements in production technologies are some key factors expected to drive market revenue growth over the forecast period. Increasing demand for chemicals and materials from domestic sources and export opportunities are expected to create lucrative opportunities for the key companies in the market.

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Further key findings from the report suggest
Fumaric acid is used in oral pharmaceutical formulations and has been found useful in the treatment of psoriasis. Adults with moderate to severe psoriasis can be treated with fumaric acid esters. It is also used in treating patients with systemic lupus and severe disseminated granuloma annulare. The pharmaceutical sector is expected to grow with a CAGR of 5.0% during the forecast period.

Currently, fumaric acid is produced chemically from maleic anhydride, which in turn is produced from butane. However, as petroleum prices rise rather quickly, maleic anhydride as a petroleum derivative increased its price as well. However, the current drastic fall in the price of petroleum during the COVID-19 crisis can propel the demand for the production of fumaric acid by maleic anhydride.

Fumaric acid has proven to be an effective additive to piglet feed during the post-weaning period. The inclusion of the acid and the resultant adjustment of the pH value demonstrate improvement in weight gain, feed conversion ratio, and food consumption. The animal feed segment is forecasted to grow with a CAGR of 4.4% during the forecast period.

The widespread construction activity in the European region is driving the demand in the region. The reconstruction and remodeling activities in the continent is creating a huge demand for unsaturated polyester resin. Germany, Italy, the UK, and France were the major consumers of the market product.

Key participants include Prinova LLC, Dastech International Inc., Bartek Ingredients, Polynt S.P.A, Thirumalai Chemicals, Fuso Chemicals, Xilong Chemical Company Ltd., Tianjin Bohai Chemicals, Nippon Shokubai Co. Ltd., and The Chemical Company, among others.

In July 2019, the board of Thirumalai Chemicals approved the company's proposal to set up a subsidiary in the United States to establish and operate a food ingredients manufacturing facility, including malic and fumaric acid. The new plant will have a capacity of about 30,000 tonnes a year, which will address the growing demand in the global market, including North America.

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For the purpose of this report, Reports and Data have been segmented into the global Fumaric Acid market on the basis of extraction type, application, end-use industry, and region:

Extraction Type Outlook (Revenue, USD Million; 2017-2027)
Fumaria Officinalis
Maleic Anhydride
Fermentation

Application Outlook (Revenue, USD Million; 2017-2027)
Food Additive
Rosin Paper Sizes
Unsaturated Polyester Resins (UPR)
Alkyd Resins
Animal Feed
Others

End-Use Industry Outlook (Revenue, USD Million; 2017-2027)
Food and Beverage
Cosmetic
Pharmaceutical
Chemicals

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Regional Outlook (Revenue, USD Million; 2017-2027)
North America
Europe
Asia Pacific
MEA

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