The Itaconic Acid Market will experience an outstanding outcome attributed to the hike in demand from the SBR latex industry in the upcoming years, as per the estimations made by IndustryARC’s new intelligence report. According to this study, the global itaconic acid market size had crossed the market value of $90 million in the year 2018 and opportunities are foreseen to grow at a CAGR of 4% during the forecast period of 2019-2025.
The report is titled “Itaconic Acid Market – Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth and Forecast 2019-2024.” This report proffers latest trends and scopes of the global itaconic acid market to be utilized by market players and the report also covers itaconic acid market size by Product and applications, itaconic acid market share by top 5 companies and also the market share by start-ups during the forecast period.
Browse Itaconic Acid Market Report Link: https://www.industryarc.com/PressRelease/900/Itaconic-Acid-Market-Research.html
Global Itaconic Acid Market: Demand Analysis
Itaconic acid, also known as methylidenesuccinic acid, is inclining towards substantial revenue attributing to the large scale application in various businesses to manufacture products such as acrylonitrile butadiene styrene, acrylate latexes, bio-based unsaturated polyester resin, and several others. This organic compound has extended its pathway into the market as cost-effective biomass reducing the use of petrochemicals as well as costly coating color additives.
Global Itaconic Acid Market: Leading Segments
APAC has the largest contributing share in the global itaconic acid market. This region is the center for paper and pulp and textile industries with the highest population count in the world. The purchasing power of the population majorly fuels the high demand for SBR latex in this region. As per the evaluation, APAC had a regional share of 35% in the year 2018.
SBR latex is widely used in paper products such as cardboard, magazines, magazines, sandpaper, carpets, non-woven fabrics, and many more. The application of itaconic acid in SBR latex will grow at a CAGR of 4.80% through to 2025 with strong economic growth in the APAC region.
Global Itaconic Acid Market: Disruptive Trends
Sustainable Petrochemical Substitute
Itaconic acid plays a major role in the manufacturing of various polymers and is a dynamic change for petrochemical usage. Biomass generated products are trending in the market owing to their efficiency and low pollution rate as compared to the non-renewable energy products. Itaconic acid is experiencing a hike in demand by the industries in the pursuit of biotechnological enhancement.
Renewable Polyester Production
Itaconic acid is obtained from natural components available in the vicinity. The diverse list of these organic sources includes the distillation of citric acid, from microorganisms (Aspergillus Terreus), fermenting sugar or starch, and so on. Polyester manufactured from itaconic acid, made from these organic compounds, retains several features such as strength, adhesion, water, and aqueous absorption. Resultantly, this scales up the demand of the global itaconic acid market.
Dominating SBR latex Usage
SBR latex industry is constantly influencing the global itaconic market growth. Notable for versatile characteristics, SBR latex is applied to many industrial sectors such as paper and pulp, paint, fiber processing, furniture, and glass fabrication industry. The itaconic acid market is the leading supplier to these sectors inducing significant economic growth.
Application as Superabsorbent Polymers
The itaconic acid market is breaking barriers with multipurpose benefits to its end-users. One of the prominent derivative compounds of itaconic acid is superabsorbent polymers. As the name suggests, this polymer is widely used for absorbing large quantity of fluids and finds a place in the manufacturing of various products as diapers, surgical pads, gel actuators, female napkins, and many others.
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