SAN FRANCISCO, June 13, 2017 /PRNewswire/ --
The global glucaric acid market is expected to reach USD 1.30 billion by 2025, according to a new report by Grand View Research, Inc. Growing demand for this product in detergents, dishwashers, and food ingredients is expected to be the major driver of the market over the forecast period.
A ban on the use of phosphates in detergents, particularly in North America and Europe, has resulted in the emergence of glucaric acid as its substitute in this application. It is primarily made of glucose, which is organic in nature and does not affect the environment.
Glucaric acid can be used either in its pure form or as a derivative. Pure glucaric acid was the most widely used product in 2016. Increased efficiency and easy availability of pure glucaric acid as compared to derivatives such as calcium D-glucarate and D-glucaric acid-1,4-lactone were some of the major factors boosting its demand.
Asia Pacific is expected to witness the highest demand for glucaric acid over the next eight years. This region has seen a resurgence in food & beverages and soap & detergent industries which have proven to be key drivers in this region.
Browse full research report with TOC on "Glucaric Acid Market Analysis By Product (Pure Glucaric Acid, Potassium Sodium D-glucarate, D-Glucaric Acid-1,4-lactone), By Application (Food Ingredients, Detergents, Corrosion Inhibitors), & Segment Forecasts, 2014 - 2025" at: http://www.grandviewresearch.com/industry-analysis/glucaric-acid-market
Further key findings from the report suggest:
- The global market size was USD 0.55 billion in 2016, which is projected to grow at a steady CAGR of 10.1% by revenue, from 2017 to 2025
- Pure glucaric acid, due to growing applications in detergents and food ingredients, is projected to witness the highest CAGR of 11.7%, by revenue in the product segment, from 2017 to 2025
- D-glucaric acid-1,4-lactone, which accounted for 23.4% of the glucaric acid market by value, is expected to grow on account of increased use in treatment of diseases such as cancer
- The detergents segment is expected to be the biggest consumer of this product over the next eight years courtesy stringent regulations against the use of synthetic chemicals such as phosphorus, which are known to degrade the environment
- The presence of key manufacturers is expected to aid market growth in North America, which is expected to witness a CAGR of 9% from 2017 to 2025, by revenue
- Rennovia and Rivertop, based out of the U.S., were the key players that introduced this product in various applications such as detergents and food ingredients
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Grand View Research has segmented the global glucaric acid market on the basis of product, application, and region:
- Glucaric Acid Product Outlook (Volume, Tons; Revenue, USD Thousand, 2014 - 2025)
- Pure glucaric acid
- Calcium D-glucarate
- Potassium sodium D-glucarate
- D-Glucaric acid-1,4-lactone
- Glucaric Acid Application Outlook (Volume, Tons; Revenue, USD Thousand, 2014 - 2025)
- Food ingredients
- Corrosion inhibitors
- De-icing applications
- Glucaric Acid Regional Outlook (Volume, Tons; Revenue, USD Thousand, 2014 - 2025)
- North America
- Asia Pacific
- Central & South America
- Middle East & Africa
- North America
Read Our Blog: Glucaric Acid Market: Driven by the ban on phosphates
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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SOURCE Grand View Research, Inc.