APAC Dominates the Global Glucaric Acid Market | Technavio

October 16, 2017

LONDON–(BUSINESS WIRE)–#Research–The global
glucaric acid market is expected to grow at an impressive CAGR of
more than 11% during the forecast period, according to Technavio’s
latest market research.

In this market research report, Technavio
covers the market outlook and growth prospects of the global
glucaric acid market for 2017-2021. The market is further categorized
into product segment (pure glucaric acid, calcium D-glucaric, D-glucaric
acid-1, 4-lactone, and others) and by application (detergents, food
ingredients, corrosion inhibitors, and others).

Technavio’s research analysts segment the global glucaric acid market
into the following regions:

Americas
APAC
Europe
MEA

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APAC: largest glucaric acid market

The excessive availability of sugar in certain major countries of APAC
such as China, India, and Pakistan is contributing to the rapid growth
of the glucaric acid market. The market in APAC accounted for around 41%
of the total market share in 2016. The suitable climatic conditions are
attributing to the high productivity of sugar, and the availability of
cheap labor will help APAC maintain its market share during the forecast
period. The prevalence of cancer in countries like India and China is
propelling the growth of the glucaric acid market in the region. Calcium
D-glucarate, a derivative of the glucaric acid, inhibits the carcinogens
responsible for causing cancer, thereby preventing cancer.

“The growing demand for food and beverages, soaps, and detergents in
APAC will have a positive impact on the glucaric acid market. The
increasing concern toward biodegradability and the increasing awareness
of using organic products is promoting the use of products that have a
high content of glucaric acid,” says Kurva Samba Sivudu, a lead specialty
chemicals research expert from Technavio.

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Glucaric acid market in the Americas

In 2016, the glucaric acid market in the Americas occupied more than 28%
of the total market share. The use of detergents with glucaric acid in
laundry and household cleaning is driving the market in this region. The
ban in North America on the use of phosphate-based detergents is fueling
the development of detergents based on glucaric acid. Glucaric acid is
regarded as eco-friendly as the raw materials used in the production of
this product is considered as renewable resources.

“The abundant availability of corn sugar, the main source of glucose,
led to the huge production of organic detergents replacing inorganic
acid phosphate in the Americas. Additionally, the prevalence of
stringent government regulations will enhance the growth of the glucaric
acid market in this region,” says Kurva.

Glucaric acid market in Europe

Stringent environmental regulations in accordance with the use of
glucaric acid as de-icers replacing other inorganic chemicals is another
key factor that will drive the growth of the glucaric acid market during
the forecast period. European countries like Switzerland, France,
Austria, Italy, and Sweden, receive heavy snowfall during winters, due
to which the demand for de-icing agents to clear roads, bridges, and
railway tracks in these countries is high.

In 2016, the glucaric market in Europe occupied close to 18% of the
total market share. Earlier, de-icing agents such as calcium chloride or
rock salt were used to melt snow, which had adverse effects on the
environment and human beings. To combat such environmental pollution,
the European Parliament enforced the use of bio-based de-icing agents
such as glucaric acid.

Glucaric acid market in the MEA

The glucaric acid market in MEA accounted for around 14% of the total
market share in 2016. The change in the preference of consumers from
petrochemical-based products such as detergents and corrosion inhibitors
to bio-based products is driving the growth of the glucaric acid market
in this region. However, the presence of a large number of petroleum oil
and gas reserves in MEA has resulted in the reduced growth rate in this
region.

The top vendors in the global
glucaric acid market as highlighted in this market research analysis
are:

HAIHANG INDUSTRY
Kalion
RENNOVIA
Rivertop Renewables

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