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PUBLISHER: IMARC | PRODUCT CODE: 1423323

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PUBLISHER: IMARC | PRODUCT CODE: 1423323

Fumaric Acid Market Report by Application, End-Use Industry, and Region 2024-2032

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Abstract

The global fumaric acid market size reached US$ 775.9 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 1,134.5 Million by 2032, exhibiting a growth rate (CAGR) of 4.2% during 2024-2032. Increasing demand for processed food and beverages, the rising population, and the expanding pharmaceutical industry represent some of the key factors driving the market.

Fumaric acid is a naturally occurring organic acid found in various fruits and vegetables. It is made through the fermentation of glucose or sucrose by certain strains of fungi, such as Rhizopus oryzae. The resulting product is a white crystalline powder that is soluble in water and alcohol. It is also used in the food and beverage (F&B) and pharmaceutical industries as a food additive and acidity regulator. It is also used in producing synthetic resins and plastics, as well as to manufacture pharmaceuticals. One of its key advantages is its ability to improve the stability and shelf life of products. It also enhances the flavor of certain foods and helps balance the sweetness of sugary products. When compared to other food additives, such as citric acid, fumaric acid has a sourer taste and is less hygroscopic, meaning it absorbs less moisture from the air. Currently, there are two types of product variants: trans- and cis-fumaric acid.

Global Fumaric Acid Market Trends:

The global fumaric acid market is primarily driven by the increasing demand for processed food and beverages, coupled with the rising population and changing dietary patterns. This is further bolstered by the expanding pharmaceutical industry and the growing demand for fumaric acid in producing drugs, especially for treating psoriasis. Moreover, the escalating product usage as a food additive to enhance flavor, improve stability, and extend shelf life is stimulating the market growth. The surging popularity of convenience foods and ready-to-drink (RTD) beverages, the expanding construction industry, and the increasing adoption of unsaturated polyester resins are acting as other growth-inducing factors. Additionally, the surging awareness regarding the harmful effects of synthetic alternative fuels and the growing use of fumaric acid as a raw material for manufacturing automotive coatings and resins are fostering the market growth. Apart from this, the inflating disposable income and the increasing demand for personal care and cosmetic products are creating a positive outlook for the market.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global fumaric acid market report, along with forecasts at the global and regional level from 2024-2032. Our report has categorized the market based on application and end-use industry.

Application Insights:

Food Additives

Rosin-Sized Sheathing Paper

Unsaturated Polyester Resins

Alkyd Resins

Others

The report has provided a detailed breakup and analysis of the fumaric acid market based on the application. This includes food additives, rosin-sized sheathing paper, unsaturated polyester resins, alkyd resins, and others. According to the report, the food additives accounted for the largest market share.

End-Use Industry Insights:

Food and Beverages Industry

Cosmetics Industry

Pharmaceutical Industry

Chemical Industry

Others

The report has provided a detailed breakup and analysis of the fumaric acid market based on the end-use industry. This includes food and beverages industry, cosmetics industry, pharmaceutical industry, chemical industry, and others. As per the report, food and beverages industry accounted for the largest market share.

Regional Insights:

Asia Pacific

North America

Europe

Middle East and Africa

Latin America

The report has also provided a comprehensive analysis of all the major regional markets, which include Asia Pacific, North America, Europe, Middle East and Africa, and Latin America. According to the report, Asia Pacific was the largest market for fumaric acid. Some of the factors driving the Asia Pacific fumaric acid market included the rapid growth of the F&B industry, the increasing population, rising disposable incomes, and shifting consumer preferences towards convenience foods and beverages.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global fumaric acid market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include Bartek Ingredients Inc., Dastech International, Fuso Chemical Co., Ltd., Polynt, Prinova Group, Changzhou Yabang Chemical Co. Ltd., Nippon Shokubai, The Chemical Company, Thirumalai Chemicals, U.S. Chemicals, Wego Chemical Group, Huntsman Corporation, etc.

Key Questions Answered in This Report

  • 1. What was the size of the global fumaric acid market in 2023?
  • 2. What is the expected growth rate of the global fumaric acid market during 2024-2032?
  • 3. What are the key factors driving the global fumaric acid market?
  • 4. What has been the impact of COVID-19 on the global fumaric acid market?
  • 5. What is the breakup of the global fumaric acid market based on the application?
  • 6. What is the breakup of the global fumaric acid market based on the end-use industry?
  • 7. What are the key regions in the global fumaric acid market?
  • 8. Who are the key players/companies in the global fumaric acid market?
Product Code: SR112024A1157

Table of Contents

1 Preface

2 Scope and Methodology

  • 2.1 Objectives of the Study
  • 2.2 Stakeholders
  • 2.3 Data Sources
    • 2.3.1 Primary Sources
    • 2.3.2 Secondary Sources
  • 2.4 Market Estimation
    • 2.4.1 Bottom-Up Approach
    • 2.4.2 Top-Down Approach
  • 2.5 Forecasting Methodology

3 Executive Summary

4 Introduction

  • 4.1 Overview
  • 4.2 Properties
  • 4.3 Key Industry Trends

5 Global Fumaric Acid Market

  • 5.1 Market Overview
  • 5.2 Market Performance
  • 5.3 Impact of COVID-19
  • 5.4 Market Breakup by Application
  • 5.5 Market Breakup by End-Use Industry
  • 5.6 Market Breakup by Region
  • 5.7 Market Forecast

6 Market Breakup by Application

  • 6.1 Food Additives
    • 6.1.1 Market Trends
    • 6.1.2 Market Forecast
  • 6.2 Rosin-Sized Sheathing Paper
    • 6.2.1 Market Trends
    • 6.2.2 Market Forecast
  • 6.3 Unsaturated Polyester Resins
    • 6.3.1 Market Trends
    • 6.3.2 Market Forecast
  • 6.4 Alkyd Resins
    • 6.4.1 Market Trends
    • 6.4.2 Market Forecast
  • 6.5 Others
    • 6.5.1 Market Trends
    • 6.5.2 Market Forecast

7 Market Breakup by End-Use Industry

  • 7.1 Food and Beverages Industry
    • 7.1.1 Market Trends
    • 7.1.2 Market Forecast
  • 7.2 Cosmetics Industry
    • 7.2.1 Market Trends
    • 7.2.2 Market Forecast
  • 7.3 Pharmaceutical Industry
    • 7.3.1 Market Trends
    • 7.3.2 Market Forecast
  • 7.4 Chemical Industry
    • 7.4.1 Market Trends
    • 7.4.2 Market Forecast
  • 7.5 Others
    • 7.5.1 Market Trends
    • 7.5.2 Market Forecast

8 Market Breakup by Region

  • 8.1 Asia Pacific
    • 8.1.1 Market Trends
    • 8.1.2 Market Forecast
  • 8.2 North America
    • 8.2.1 Market Trends
    • 8.2.2 Market Forecast
  • 8.3 Europe
    • 8.3.1 Market Trends
    • 8.3.2 Market Forecast
  • 8.4 Middle East and Africa
    • 8.4.1 Market Trends
    • 8.4.2 Market Forecast
  • 8.5 Latin America
    • 8.5.1 Market Trends
    • 8.5.2 Market Forecast

9 Global Fumaric Acid Industry: SWOT Analysis

  • 9.1 Overview
  • 9.2 Strengths
  • 9.3 Weaknesses
  • 9.4 Opportunities
  • 9.5 Threats

10 Global Fumaric Acid Industry: Value Chain Analysis

  • 10.1 Overview
  • 10.2 Research and Development
  • 10.3 Raw Material Procurement
  • 10.4 Manufacturing
  • 10.5 Marketing
  • 10.6 Distribution
  • 10.7 End-Use

11 Global Fumaric Acid Industry: Porters Five Forces Analysis

  • 11.1 Overview
  • 11.2 Bargaining Power of Buyers
  • 11.3 Bargaining Power of Suppliers
  • 11.4 Degree of Competition
  • 11.5 Threat of New Entrants
  • 11.6 Threat of Substitutes

12 Global Fumaric Acid Industry: Price Analysis

  • 12.1 Price Indicators
  • 12.2 Price Structure
  • 12.3 Margin Analysis

13 Fumaric Acid Manufacturing Process

  • 13.1 Product Overview
  • 13.2 Raw Material Requirements
  • 13.3 Manufacturing Process
  • 13.4 Key Success and Risk Factors

14 Competitive Landscape

  • 14.1 Market Structure
  • 14.2 Key Players
  • 14.3 Profiles of Key Players
    • 14.3.1 Bartek Ingredients Inc.
    • 14.3.2 Dastech International
    • 14.3.3 Fuso Chemical Co., Ltd.
    • 14.3.4 Polynt
    • 14.3.5 Prinova Group
    • 14.3.6 Changzhou Yabang Chemical Co. Ltd.
    • 14.3.7 Nippon Shokubai
    • 14.3.8 The Chemical Company
    • 14.3.9 Thirumalai Chemicals
    • 14.3.10 U.S. Chemicals
    • 14.3.11 Wego Chemical Group
    • 14.3.12 Huntsman Corporation
Product Code: SR112024A1157

List of Figures

  • Figure 1: Global: Fumaric Acid Market: Major Drivers and Challenges
  • Figure 2: Global: Fumaric Acid Market: Sales Value (in Million US$), 2018-2023
  • Figure 3: Global: Fumaric Acid Market: Breakup by Application (in %), 2023
  • Figure 4: Global: Fumaric Acid Market: Breakup by End-Use Industry (in %), 2023
  • Figure 5: Global: Fumaric Acid Market: Breakup by Region (in %), 2023
  • Figure 6: Global: Fumaric Acid Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 7: Global: Fumaric Acid Industry: SWOT Analysis
  • Figure 8: Global: Fumaric Acid Industry: Value Chain Analysis
  • Figure 9: Global: Fumaric Acid Industry: Porter's Five Forces Analysis
  • Figure 10: Global: Fumaric Acid (Food Additives) Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 11: Global: Fumaric Acid (Food Additives) Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 12: Global: Fumaric Acid (Rosin-Sized Sheathing Paper) Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 13: Global: Fumaric Acid (Rosin-Sized Sheathing Paper) Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 14: Global: Fumaric Acid (Unsaturated Polyester Resins) Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 15: Global: Fumaric Acid (Unsaturated Polyester Resins) Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 16: Global: Fumaric Acid (Alkyd Resins) Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 17: Global: Fumaric Acid (Alkyd Resins) Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 18: Global: Fumaric Acid (Other Applications) Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 19: Global: Fumaric Acid (Other Applications) Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 20: Global: Fumaric Acid (Food and Beverage Industry) Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 21: Global: Fumaric Acid (Food and Beverage Industry) Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 22: Global: Fumaric Acid (Cosmetics Industry) Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 23: Global: Fumaric Acid (Cosmetics Industry) Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 24: Global: Fumaric Acid (Pharmaceutical Industry) Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 25: Global: Fumaric Acid (Pharmaceutical Industry) Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 26: Global: Fumaric Acid (Chemical Industry) Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 27: Global: Fumaric Acid (Chemical Industry) Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 28: Global: Fumaric Acid (Other Industries) Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 29: Global: Fumaric Acid (Other Industries) Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 30: Asia Pacific: Fumaric Acid Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 31: Asia Pacific: Fumaric Acid Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 32: North America: Fumaric Acid Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 33: North America: Fumaric Acid Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 34: Europe: Fumaric Acid Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 35: Europe: Fumaric Acid Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 36: Middle East and Africa: Fumaric Acid Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 37: Middle East and Africa: Fumaric Acid Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 38: Latin America: Fumaric Acid Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 39: Latin America: Fumaric Acid Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 40: Fumaric Acid Manufacturing: Process Flow

List of Tables

  • Table 1: Fumaric Acid: General Properties
  • Table 2: Global: Fumaric Acid Market: Key Industry Highlights, 2023 and 2032
  • Table 3: Global: Fumaric Acid Market Forecast: Breakup by Application (in Million US$), 2024-2032
  • Table 4: Global: Fumaric Acid Market Forecast: Breakup by End-Use Industry (in Million US$), 2024-2032
  • Table 5: Global: Fumaric Acid Market Forecast: Breakup by Region (in Million US$), 2024-2032
  • Table 6: Fumaric Acid: Raw Material Requirements
  • Table 7: Global: Fumaric Acid Market Structure
  • Table 8: Global: Fumaric Acid Market: Key Players
Have a question?
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Jeroen Van Heghe

Manager - EMEA

+32-2-535-7543

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Christine Sirois

Manager - Americas

+1-860-674-8796

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