Itaconic acid, also known as methyl succinic acid, is one of the important bio-based platform chemicals. Itaconic acid was recognized as one of the twelve promising chemicals obtained from biomass by the U.S. Department of Energy (DoE) in 2004.
Albany, NY -- (SBWIRE) -- 09/09/2015 -- Itaconic acid is a white, crystalline, unsaturated dicarboxylic acid that often easily degrades into soil. It is one of the promising chemicals within the group of organic acids. Itaconic acid is stable at room temperature; however, due to the presence of two carboxylic groups, it effectively takes part in the co-polymerization reaction. Itaconic acid is mostly produced by the fungal fermentation of glucose syrup. Itaconic acid is mostly used in the form of derivatives in several end-user industries. For instance, poly itaconic acid, an important derivative of itaconic acid, is produced by the polymerization of itaconic acid monomers. A few other important derivatives include unsaturated ester, 2-methyl-1, 4-butanediol, and 3-methyltetrahydrofuran (3-methyl-THF). Poly itaconic acid is the largest derivative segment of the itaconic acid market. Itaconic acid is employed in several end-user industries. Some of its applications include synthetic latex, unsaturated polyester resins (UPR), superabsorbent polymers (SAP), detergents, and others.
This report provides the estimates and forecast for the itaconic acid market on the global, regional, and country level. The study provides forecast for the period from 2015 to 2023 based on volume (Tons) and revenue (US$ Mn).
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The study provides a conclusive view of the itaconic acid market by bifurcating it into application segments such as: synthetic latex, unsaturated polyester resins (UPR), superabsorbent polymers (SAP), detergents, and others. Application segments have been analyzed based on historic, present, and future trends, and the market has been estimated for the period from 2015 to 2023 in terms of volume (Tons) and revenue (US$ Mn). Regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA). Furthermore, country level analysis has also been provided in the report. Major countries such as the U.S., the U.K, France, Germany, Italy, Spain, China, Japan, ASEAN, Brazil, GCC, and South Africa are included in the study. Segmentation includes demand for individual applications in all the regions and countries.
The report includes a detailed value chain analysis, which provides a comprehensive view of the market. Value chain analysis also provides detailed information about value addition at each stage of the value chain. The report comprises drivers and restraints for the aromatic solvents market along with their impact on demand during the forecast period. Additionally, the report comprises the study of opportunities in the aromatic solvents market on the global level.
The report evaluates Porter's Five Forces model to gauge the degree of existing competition in the aromatic solvents market. The report comprises a qualitative write-up on the market attractiveness analysis, wherein end-users have been analyzed based on their attractiveness. Growth rate, market size, raw material, profit margin, technology, potential substitution in end-user industry, competition and other factors (such as environmental and legal) have been evaluated in order to derive the general attractiveness of the market. The report includes price trend analysis for itaconic acid from 2014 to 2023. A brief qualitative description about the manufacturing process to produce itaconic acid is also included in the report.
Secondary research sources that were typically referred to include, but were not limited to company websites, broker reports, investor presentations, financial reports, annual reports, and SEC filings. Other sources such as internal and external proprietary databases, national government documents, news articles, statistical databases and market reports, and webcasts specific to companies operating in the market have also been referred for the report.
In-depth interviews and discussions with a wide range of key industry participants and opinion leaders were conducted to compile this research report. Primary research represents the bulk of the research efforts, supplemented by extensive secondary research. Key players' product literature, press releases, annual reports, and relevant documents were reviewed for competitive analysis and market understanding purposes. This helped in validating and strengthening the secondary research findings. Primary research further developed the analysis team's expertise and market understanding.
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The report covers a detailed competitive outlook that includes the market share and profiles of key participants operating in the global market. Key players profiled in the report include Itaconix Corporation, Chengdu Jinkai Biology Engineering Co., Ltd., Ronas Chemicals Ind. Co., Ltd., Qingdao Langyatai (Group) Co., Ltd., Zhejiang Guoguang Biochemistry Co., Ltd., Nanjing Huajin Biologicals Co., Ltd., Shandong Kaison Biochemical Co., Ltd., Spectrum Chemical Manufacturing Corp., and Alpha Chemika. Company profiles include attributes such as company overview, business strategies, brand overview, business overview, key competitors, financial overview (financial year), and recent/key developments and acquisitions.
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