New York, Aug. 24, 2020 (GLOBE NEWSWIRE) -- The Global Glucaric Acid Market is projected to reach USD 1.46 billion in 2027. Growing demand is expected to drive the market during the forecast period for this product in the fields of detergents, spreaders, and food ingredients. In this case, the ban on the use of phosphates in detergents has contributed to the rise of the glucaric acid market, particularly in North America and Europe. It mainly consists of glucose, which is organic and has no environmental effects.
The pure form or derivative of glucaric acid may be used. The most widely used product was pure glucaric acid. In addition to derivatives such as calcium D-glucarate and D-Glucaric acid-1,4-Lactone, greater effectiveness and easier availability of pure glucaric acid have been among the main factors that boost its demand.
The key developments in organic and inorganic growth strategies observed in the glucaric acid market have been studied in the report. Numerous companies concentrate on strategic development approaches such as product releases, product approvals, etc. Inorganic growth strategies and partnerships have been seen in the market, such as mergers and acquisitions. These activities paved the way for the expansion of market players' business and customer base. With the demand for glucaric acid on the global industry, the market players from the glucaric acid sector expect competitive growth prospects in the future.
The highest demand for glucaric acid is expected in Asia Pacific in the coming years. In this region, the food and beverage and soap & detergent industries have re-emerged and have proven to be key drivers of this region.
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COVID-19 Impact Analysis
The COVID-19 pandemic will in no way endanger the industry's sustainability. Key market leaders are skeptical of the prospects of the industry and are looking for ways to address this problem. Most clinics needed to have a major effect on the pandemic to improve their services and other activities. Insufficient monetary support in different parts of the world to avoid the usual lockout. Trade, exports, and international imports of COVID-19 resulted in a major decrease in domestic demand. The biggest firms in the world tend to ease their budgets and build cash supplies. True output rates would eventually be to find new ways to meet the demand from consumers at much cheaper costs for employees and businesses.
Further key findings from the report suggest
- Detergent is an essential substitution for phosphate for glucaric acid. The ideal purifying agent is glucaric acid.
- Pure glucaric acid is projected to be the most important for revenues in the product segment between 2019 and 2027 due to growing applications in detergents and food ingredients.
- Based on increased usages of diseases such as cancer, D-glucaric acid-1,4-lactone that constituted the majority of the glucaric acid industry, is expected to rise by volume.
- The stringent rules against the use of synthetic chemicals, such as phosphorus, which are known to degrade the environment, are expected to be the largest consumer of the product over the next few years.
- The involvement of main suppliers is expected to boost North America's demand growth and is projected to see sales rise between 2019 and 2027.
- In January 2016, The German-based distributor of scientific reagents, Biomol GmbH, is purchased by Cayman Chemical Company, a major producer and supplier of life science specialist testing materials.
- Key players in the market include Rennovia, Kalion, Chemos, Rivertop, Shanghai Meicheng Chemical Co. Ltd., Haihang Industry Co Ltd, AK Scientific Inc., Alfa Chemistry, Cayman Chemical, and Merck KGaA, among others.
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For the purpose of this report, Reports and Data has segmented the Global Glucaric Acid Market on the basis of product, application, and region:
Product Outlook USD
- Pure glucaric acid
- Calcium D-glucarate
- Potassium sodium D-glucarate
- D-glucaric acid-1,4-lactone
- Others
Application Outlook USD
- Food ingredients
- Detergents
- Corrosion inhibitors
- De-icing applications
- Others
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/glucaric-acid-market
Regional Outlook USD
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Benelux
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- Rest of MEA
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