Global Glucaric Acid Market - 2020-2027
発行: DataM Intelligence
ページ情報: 英文 180 Pages
The global glucaric acid market size was worth US$ XX billion in 2019 and is projected to show significant growth by reaching up to US$ XX billion by 2027, growing at a CAGR of XX% during the forecast period (2020-2027).
Glucaric acid is sugar, also known as saccharic acid, derived by oxidizing polysaccharides/sugar with nitric acid. Since it is derived from glucose, it comes under biodegradable chemicals and has been lists among the top 12 renewable building block chemicals by the U.S. Department of Energy (DOE).
Owing to biodegradable the chemical shows potential applications among various industries such as chemical, food, agriculture and pharmaceuticals. The chemical is also used in water treatment and detergent manufacturing. As per the on-going studies, the safe disposal of chemicals in the environment has shown that glucaric acid consumption reduces cancer's potential chances. Besides this, owing to the toxic behavior of phosphorous, glucaric acid is the most potential substitute for it in the construction and building industries.
As per the U.S. Department of Energy survey, glucaric acid holds an unprecedented market growth in the U.S. in 2016 and has been identified as the top chemical derived from a renewable source. Therefore, due to the chemical's biodegradable nature, the demand has been increased over the past few years. The properties offered by glucaric acid are anticipated to boost the market in the conjecture period.
The global glucaric acid market is driven by the increasing application of the chemical among various end-users due to its eco-friendly behavior. The ban on phosphate in the detergent industry due to its toxic nature has built a massive market for glucaric acid in recent times. Strict government policies towards using harmful chemicals to curtail environmental damage are expected to increase the global demand for glucaric acid in the forthcoming period.
Glucaric acid is a biodegradable chemical. Increasing awareness among the consumer about the potential threat of non-biodegradable chemicals has led to the growth towards adopting eco-friendly and sustainable chemicals, leading to building a massive market for glucaric acid in recent times.
The chemical's biodegradable behavior has played a potential role in various end-user industries such as chemical, food, agriculture and pharmaceuticals. For instance, the formation of specific polymers such as nylon using glucaric acid is the market's current trend. Glucaric acid is also used as a corrosion inhibitor in cooling towers and de-icers.
Apart from this, glucaric acid is gaining popularity in concrete admixtures, cosmetic ingredients, health supplements and others. The chemical is also used in water treatment and detergent manufacturing. As per the on-going studies, the safe disposal of chemicals in the environment has shown that glucaric acid consumption reduces cancer's potential chances. Thus, glucaric acid coverage of large end-user applications is expected to build a large business volume in the forecast period.
For instance, in February 2017, Johnson Matthey and Rennovia announced the signed license agreement with ADM to offer catalyst and process technology for bio-based glucaric acid catalytic production. The agreement was made to combine the efficiency and selectivity of heterogeneous catalytic process technology with renewable feedstock to produce its bio-based glucaric acid.
In the past few years, glucaric acid has gained popularity in the detergent industry. It has primarily been used as a substitute for phosphorous as the detergent builder, as phosphorous releases toxic residues. Thus, it is considered harmful to the environment and is banned from dishwasher detergents.
Glucaric acid is considered to be the ideal cleansing agent. It serves as a builder that captures magnesium and calcium in hard water and then prevents them from foaming soap scum. Apart from this, glucaric acid is used as a corrosion inhibitor in water treatment applications, replacing phosphate-based programs.
Phosphate point sources are well known as environmental pollutants for aquatic ecosystems from wastewater treatment. On the other side, glucaric acid degrades benignly and can be useful in the water system without any restriction. Thus the growing demand for glucaric acid in the detergent industry and wastewater treatment is the potential factor triggering its growth.
Although sugar-derived glucaric acid production is a single-step process, nitric acid is used in its production process, resulting in the formation and release of waste and harmful NOX gas. Thus treatment of this gas is a must before releasing it into the environment. Therefore large production units of glucaric acid are generally restricted by the government, leading to hampering the glucaric acid market in the forecast period. Another step for the treatment of NOX gas adds to the overall manufacturing cost, thus impacting the global market of glucaric acid.
COVID-19 Impact Analysis
The global glucaric acid has shown a slight decline due to the COVID-19 pandemic, as several manufacturing plants were shut for months. Further several countries have restricted production activities during the covid-19 pandemic. The major lockdown due to the COVID-19 outbreak leads to suddenly dropping down consumers' interest towards purchasing any goods and halt in transportation sectors has severely hampered the business of glucaric acid market due to disruption in the product's supply chain management.
The majority of businesses are shut down and operations across several end-users of glucaric acid such as chemical, food, agriculture and pharmaceutical industries are also compromised, thus dropping the product's global demand in 2020.
The global glucaric acid market is segmented based on product, application and region.
In terms of product, the global glucaric acid market is segmented into potassium sodium D-glucarate, pure glucaric acid, calcium D-glutarate, D-glucaric acid-1,4 lactone and others. Out of the mentioned product type, pure glucaric acid dominated the 2016 market and is expected to maintain its dominance in the forecast period due to its easy availability at a comparatively low price than the competitor segments.
On the other, D-glucaric acid-1,4 lactone is expected to grow at the fastest rate in the forecast period. The reason behind the market's significant growth is the increasing use of D-glucaric acid-1,4 lactone for cancer treatment and the rising prevalence of the disease is the prime factor for accelerating the segment's market in coming years. Growing technical advancements in D-glucaric acid-1,4 lactone production process with developing technology are more likely to boost the segment's market and build the global market of glucaric acid in return the forecast period.
Asia-Pacific region dominates the glucaric acid market in recent times due to cost-effective raw material and labor in the region. The growing demand for glucaric acid from different end-users such as detergents and the food industry in economically emerging countries such as China, India and Japan is more likely to create opportunities for the segment to proliferate in the forecast market.
Most of the key players, such as Haihung industry Co. Ltd and Alfa chemistry have established manufacturing facilities in the Asia-Pacific region, creating a massive region market. In contrast, North America is in the second position for building the largest market for glucaric acid in the globe.
The US is the leader for generating the highest revenue for the market as the country is known to introduce new, advanced and eco-friendly products in the market, thus creating opportunities for the key player to build the region's forecast market. Since the chemical is an organic compound, various government bodies encourage the product, further triggering the demand.
The glucaric acid market is highly fragmented with the presence of limited local as well as global companies. Some of the key players contributing to the market's growth include Alfa Chemistry, Kalion Inc, Haihang Industry, Cayman Chemical, Rennovia Inc, Shanghai Meicheng Chemical Co. Ltd, Merck kGaA, A.K. scientific Inc., Carbosynth Limited and among others.
The major players are adopting several growth strategies such as product launches, acquisitions and collaborations, contributing to the growth of the glucaric acid market globally. Several key players prefer collaboration and acquisition is the key growth strategy for their business.
In February 2017, Johnson Matthey and Rennovia announced the signed license agreement with ADM to offer catalyst and process technology for bio-based glucaric acid catalytic production. The agreement was made to combine the efficiency and selectivity of heterogeneous catalytic process technology with renewable feedstock to produce its bio-based glucaric acid.
Overview: Kalion, Inc. is a bioengineering company based in Massachusetts that brings creative, bio-based, cost-effective solutions to challenging environmental problems. Kalion has implemented glucaric acid solutions to problems in sectors ranging from water treatment to textiles that enhance the economic and environmental profile of a range of goods.
Product Portfolio: The company has a product portfolio of glucaric acid includes.
Glucaric Acid: The product is designed using unique chemicals covering a wider range of forms to maximize its benefits. The product is a potent corrosion inhibitor and can be used in various applications where water contacts metal surfaces. Besides, the product is used in pharmaceutical applications such as in the production of Adderall and its generic equivalent, a drug for ADHD.
For instance, in 2020, Kalion Inc received a National Science Foundation (NSF) Phase II Smart Business Research (SBIR) grant for $746,822. The grant is to conduct research and development work for improving bio-based production of glucaric acid.
The global glucaric acid market report would provide access to an approx: 53 market data table, 48 figures and 244 pages.