Itaconic Acid Market - Industry Analysis, Market Size, Share, Trends,Application Analysis, Growth and Forecast 2019 - 2025

Report Code: CMR 56574 Report Format: PDF + Excel Database

Itaconic Acid Market Overview:

According to the International Federation of Pharmaceutical Manufacturers Association (IFPMA), in 2014, the total production in the pharmaceutical industry was valued to be $997 billion, which was $345 billion more than that in 2006. Furthermore, the organization estimates that the global pharmaceutical market will reach $1,430 billion by 2020.[1] Itaconic acid is widely used in the formulation of medicines, and the remarkable surge in the revenues from the pharmaceutical sector will be largely leveraged by the itaconic acid market that had a market size of $90 million as of 2018. Furthermore, the demand for itaconic acid in various industries is estimated to grow with a compound annual growth rate (CAGR) of 4% during the forecast period of 2019 to 2025.

APAC is the third largest pharmaceutical market in the world after North America and Europe. Furthermore, there is a tangible growth in the industrial sector with a gamut of chemical companies emerging in the region. With the textile industry making strides in some countries of APAC such as China, Indonesia, and the Philippines, the region is evidently a huge marketplace for itaconic acid. This is further backed with the prevalence of water treatment plants in chemical industries of APAC that make use of itaconic acid. Given that APAC is observing a tectonic shift in the construction industry with a myriad of projects being inaugurated on a yearly basis, there is an augmented demand for paints and coatings in the manufacturing of which itaconic acid is used. APAC had the largest itaconic acid market share of 35% in 2018.

Itaconic Acid Market Outlook:

Itaconic acid or methylidenesuccinic acid, first obtained by distillation of citric acid is an organic compound which is used in production of acrylonitrile butadiene styrene and acrylate latexes. It also finds applications in production of styrene butadiene rubber, reinforced glass fiber, deodorants, adhesives, unsaturated polyester resins, fabric binders, ion exchange resins, organosiloxanes, and others.

The key application of itaconic acid is found in the manufacturing of SBR latex which is used in the construction industry for cement bond coats, mortars, and concrete in order to improve bond strength and chemical resistance. Evidently, the construction sector is on the rise in order to suffice the sustainable development goals of the United Nations (UN) pertaining to the infrastructural facilities. This development is leading to a lot of opportunities for the vendors in the itaconic acid market to capitalize on the demand for SBR latex. The application of itaconic acid in SBR latex is projected to grow with a CAGR of 4.80% through to 2025.

Itaconic Acid Market Growth Drivers:

·        The Growth of the Paints & Coatings Industry –

The paints and coatings market was valued to be $127.855 billion as of 2018. Furthermore, the demand for the same is estimated to grow with a CAGR of 4.69% during the forecast period of 2019 to 2025. Itaconic acid finds applications in paper, metal, and concrete coatings. Considering that a significant amount of revenues generated from the paints and coatings market is attributed to metal and concrete coatings, itaconic acid certainly has a sustainable marketplace in the industry. Furthermore, the future foresees more use of paints and coatings which will further flourish the itaconic acid market.

·        The Application in the Cosmetic Sector –

Itaconic acid is considered as one of the most suitable solvents in cosmetic products. Furthermore, it finds applications in deodorants, antiperspirant agents, and some other cosmetic products. The unprecedented demand influx in the cosmetic sector due to the rising disposable personal income and the growing awareness about the benefits of cosmetic products is creating multiple opportunities in the itaconic acid market.

·        The Demand Inflow from the Textile Industry –

According to the United States Department of Agriculture (USDA), cotton production is expected to rise in 2019 with a growth rate of 6.8% year on year.[2] The derivative of itaconic acid such as cyclodextrin itaconate is used for the modification of cotton fabric. The propitious progress in the textile industry with catapulting production of cotton is poised to open the itaconic acid market even further.

Itaconic Acid Market Trends –

·        Demand for Ecofriendly Adhesives – Adhesives more often than not are made of chemicals that are harmful to the environment. However, nowadays, the vendors are reinventing their manufacturing strategies in order to provide ecofriendly adhesives. This trend is chiefly influencing the bio-based itaconic acid market.

·    Biocompatible Implants in PMMA – There is noticeable demand for biocompatible implants which is significantly giving rise to the augmented application of itaconic acid in PMMA manufacturing.

·     Super Absorbent Polymers – There is a rise in demand for absorbent in the personal care products which is leading to consumption of itaconic acid in the synthesis of super absorbent polymers.

·    In September 2017, AkzoNobel’s specialty chemicals business had collaborated with Itaconix in order to develop innovative bio-based chelates.

Itaconic Acid Market Challenges –

The biggest challenge faced by the vendors in the itaconic acid is the upsurge in the demand for bio-based itaconic acid and the fact that the availability of sugarcane for the manufacturing process is insufficient to fulfill supply to demand. Evidently, sugarcane is heavily used in the food & beverages industry, and there is a consistent demand for the same to produce bio-fuels too. This happens to be the major factor dwarfing growth prospects in the itaconic acid market. However, the agricultural industry will observe more sugarcane crop production in the future, which will ameliorate the problem in the itaconic acid market.

Itaconic Acid Market Key Players Perspective –

The major players striving to capitalize on the demand for itaconic acid are Aekyung Petrochemical Co. Ltd., Alpha Chemika, Itaconix Corporation, Jinan Huaming Biochemistry Co. Ltd, Iwata Chemical Co Ltd, Ronas Chemicals Ind, Qingdao Langyatai Group Co., Zhejiang Guoguang Biochemistry Co Ltd, Aekyung Petrochemical Co. Ltd, Nanjing Huajin Healthcare Biologicals Co. Ltd, and Shandong Kaison Biochemical Co.

Itaconic Acid Market Research Scope:

The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the itaconic acid market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The itaconic acid market research report also analyses the application of the product in the pharmaceutical, cosmetics, and textile sectors.

Itaconic Acid Market Report: Industry Coverage

The itaconic acid market report also analyzes the major geographic regions as well as the major countries in these regions. The regions and countries covered in the study include:

  • North America: The U.S., Canada, Mexico
  • South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica
  • Europe: The U.K., Germany, Italy, France, the Netherlands, Belgium, Spain, Denmark
  • APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong
  • Middle East and Africa: Israel, South Africa, Saudi Arabia

Key Questions Addressed in the Itaconic Acid Market Report

Is the market demand for itaconic acid growing? How long will it continue to grow and at what rate?

Which type of home security system presents the major growth opportunities?

Is there a possibility for change in the market structure over time?

Are additional developments needed for the existing product or services offerings or do the existing products meet the customer demands?

Do the key vendors look for partnerships to expand their businesses with respect to geography or product?

What are the short-term, long-term, and medium-term growth drivers for the market?

What are the short-term, medium-term, and long-term challenges for the market?

What are the short-term, medium-term, and long-term opportunities for the market

Who are the top players/companies of the market?

What are the recent innovations in the market?

How many patents have been filed by the leading players?

What are the types of patents filed by the leading players?

What is our Vision 2030 for the itaconic acid market?

A Few Focus Points Of This Research Are Given Below:

  • Give a deep-dive analysis of the key operational strategies with focus on the corporate structure, R&D strategies, localization strategies, production capabilities, and sales performance of various companies
  • Provide an overview of the product portfolio, including product planning, development, and positioning
  • Discuss the role of technology companies in partnerships
  • Explore the regional sales activities
  • Analyze the market size and giving the forecast for current and future global itaconic acid market during the forecast 2019–2025
  • Analyze the competitive factors, competitors’ market shares, product capabilities, and supply chain structures

References - 

[1] https://www.ifpma.org/wp-content/uploads/2017/02/IFPMA-Facts-And-Figures-2017.pdf

[2] https://www.usda.gov/oce/forum/2018/commodities/Cotton.pdf

1. Itaconic Acid Market - Overview
        1.1 Definitions and Scope
2. Itaconic Acid Market - Executive summary
        2.1 Market Revenue, Market Size and Key Trends by Company
        2.2 Key Trends by type of Application
        2.3 Key Trends segmented by Geography
3. Itaconic Acid Market
        3.1 Comparative analysis
            3.1.1 Product Benchmarking - Top 10 companies
            3.1.2 Top 5 Financials Analysis
            3.1.3 Market Value split by Top 10 companies
            3.1.4 Patent Analysis - Top 10 companies
            3.1.5 Pricing Analysis
4. Itaconic Acid Market - Startup companies Scenario Premium
        4.1 Top 10 startup company Analysis by
            4.1.1 Investment
            4.1.2 Revenue
            4.1.3 Market Shares
            4.1.4 Market Size and Application Analysis
            4.1.5 Venture Capital and Funding Scenario
5. Itaconic Acid Market - Industry Market Entry Scenario Premium
        5.1 Regulatory Framework Overview
        5.2 New Business and Ease of Doing business index
        5.3 Case studies of successful ventures
        5.4 Customer Analysis - Top 10 companies
6. Itaconic Acid Market Forces
        6.1 Drivers
        6.2 Constraints
        6.3 Challenges
        6.4 Porters five force model
            6.4.1 Bargaining power of suppliers
            6.4.2 Bargaining powers of customers
            6.4.3 Threat of new entrants
            6.4.4 Rivalry among existing players
            6.4.5 Threat of substitutes
7. Itaconic Acid Market -Strategic analysis
        7.1 Value chain analysis
        7.2 Opportunities analysis
        7.3 Product life cycle
        7.4 Suppliers and distributors Market Share
8. Itaconic Acid Market - By Product Type (Market Size -$Million / $Billion)
        8.1 Market Size and Market Share Analysis
        8.2 Application Revenue and Trend Research
        8.3 Product Segment Analysis
9. Itaconic Acid Market - By Derivative (Market Size -$Million / $Billion)
        9.1 Styrene Butadiene Itaconic Acid
9.2 Methyl Methacrylate
9.3 Polyitaconic Acid
9.4 Others
10. Itaconic Acid - By Application (Market Size -$Million / $Billion)
        10.1 Segment type Size and Market Share Analysis
        10.2 Application Revenue and Trends by type of Application
        10.3 Application Segment Analysis by Type
            10.3.1 SBR Latex
            10.3.2 Synthetic Latex
            10.3.3 Chillant Dispersant Agent
            10.3.4 Superabsorbent Polymer
            10.3.5 Others
11. Itaconic Acid- By Geography (Market Size -$Million / $Billion)
        11.1 Itaconic Acid Market - North America Segment Research
        11.2 North America Market Research (Million / $Billion)
            11.2.1 Segment type Size and Market Size Analysis
            11.2.2 Revenue and Trends
            11.2.3 Application Revenue and Trends by type of Application
            11.2.4 Company Revenue and Product Analysis
            11.2.5 North America Product type and Application Market Size
                  11.2.5.1 U.S
                  11.2.5.2 Canada
                  11.2.5.3 Mexico
                  11.2.5.4 Rest of North America
        11.3 Itaconic Acid- South America Segment Research
        11.4 South America Market Research (Market Size -$Million / $Billion)
            11.4.1 Segment type Size and Market Size Analysis
            11.4.2 Revenue and Trends
            11.4.3 Application Revenue and Trends by type of Application
            11.4.4 Company Revenue and Product Analysis
            11.4.5 South America Product type and Application Market Size
                  11.4.5.1 Brazil
                  11.4.5.2 Venezuela
                  11.4.5.3 Argentina
                  11.4.5.4 Ecuador
                  11.4.5.5 Peru
                  11.4.5.6 Colombia
                  11.4.5.7 Costa Rica
                  11.4.5.8 Rest of South America
        11.5 Itaconic Acid- Europe Segment Research
        11.6 Europe Market Research (Market Size -$Million / $Billion)
            11.6.1 Segment type Size and Market Size Analysis
            11.6.2 Revenue and Trends
            11.6.3 Application Revenue and Trends by type of Application
            11.6.4 Company Revenue and Product Analysis
            11.6.5 Europe Segment Product type and Application Market Size
                  11.6.5.1 U.K
                  11.6.5.2 Germany
                  11.6.5.3 Italy
                  11.6.5.4 France
                  11.6.5.5 Netherlands
                  11.6.5.6 Belgium
                  11.6.5.7 Denmark
                  11.6.5.8 Spain
                  11.6.5.9 Rest of Europe
        11.7 Itaconic Acid - APAC Segment Research
        11.8 APAC Market Research (Market Size -$Million / $Billion)
            11.8.1 Segment type Size and Market Size Analysis
            11.8.2 Revenue and Trends
            11.8.3 Application Revenue and Trends by type of Application
            11.8.4 Company Revenue and Product Analysis
            11.8.5 APAC Segment - Product type and Application Market Size
                  11.8.5.1 China
                  11.8.5.2 Australia
                  11.8.5.3 Japan
                  11.8.5.4 South Korea
                  11.8.5.5 India
                  11.8.5.6 Taiwan
                  11.8.5.7 Malaysia
                  11.8.5.8 Hong Kong
                  11.8.5.9 Rest of APAC
        11.9 Itaconic Acid - Middle East Segment and Africa Segment Research
        11.10 Middle East & Africa Market Research (Market Size -$Million / $Billion)
            11.10.1 Segment type Size and Market Size Analysis
            11.10.2 Revenue and Trend Analysis
            11.10.3 Application Revenue and Trends by type of Application
            11.10.4 Company Revenue and Product Analysis
            11.10.5 Middle East Segment Product type and Application Market Size
                  11.10.5.1 Israel
                  11.10.5.2 Saudi Arabia
                  11.10.5.3 UAE
            11.10.6 Africa Segment Analysis
                  11.10.6.1 South Africa
                  11.10.6.2 Rest of Middle East & Africa
12. Itaconic Acid Market - Entropy
        12.1 New product launches
        12.2 M&A s, collaborations, JVs and partnerships
13. Itaconic Acid Market - Industry / Segment Competition landscape Premium
        13.1 Market Share Analysis
            13.1.1 Market Share by Country- Top companies
            13.1.2 Market Share by Region- Top 10 companies
            13.1.3 Market Share by type of Application - Top 10 companies
            13.1.4 Market Share by type of Product / Product category- Top 10 companies
            13.1.5 Market Share at a global level - Top 10 companies
            13.1.6 Best Practises for companies
14. Itaconic Acid Market - Key Company List by Country Premium
15. Itaconic Acid Market Company Analysis
15.1 Market Share, Company Revenue, Products, M&A, Developments
15.2 Aekyung Petrochemical Co. Ltd.
15.3 Alpha Chemika
15.4 Itaconix Corporation
15.5 Jinan Huaming Biochemistry Co. Ltd.
15.6 Nanjing Huajin Healthcare Biologicals Co. Ltd.
15.7 Shandong Shunda
15.8 Company 7
15.9 Company 8 & More
*Financials would be provided on a best efforts basis for private companies
16. Itaconic Acid Market - Appendix
        16.1 Abbreviations
        16.2 Sources
17. Itaconic Acid Market - Methodology
        17.1 Research Methodology
            17.1.1 Company Expert Interviews
            17.1.2 Industry Databases
            17.1.3 Associations
            17.1.4 Company News
            17.1.5 Company Annual Reports
            17.1.6 Application Trends
            17.1.7 New Products and Product database
            17.1.8 Company Transcripts
            17.1.9 R&D Trends
            17.1.10 Key Opinion Leaders Interviews
            17.1.11 Supply and Demand Trends

List of Tables

1 US Itaconic Acid Market Size 2018
2 Canada Itaconic Acid Market Share 2018
3 Brazil Itaconic Acid Market Outlook 2019 - 2023
4 Mexico Itaconic Acid Market Research 2018
5 Germany Itaconic Acid Market Trends 2019 - 2023 
6 France Itaconic Acid Market Growth 2019 - 2023 
7 UK Itaconic Acid Market Demand 2019 - 2023 
8 Italy Itaconic Acid Market Segmentation 2018
9 Russia Itaconic Acid Market Analysis 2019 - 2023
10 China Itaconic Acid Market Revenue 2019 - 2023
11 Japan Itaconic Acid Market Volume 2019 - 2023
12 South Korea Itaconic Acid Market Potential 2019 - 2023
13 India Itaconic Acid Market Leaders 2018
14 Saudi Arabia Itaconic Acid Market Forecast 2019 - 2023 
15 Kuwait Itaconic Acid Market Value 2018

List of Figures

For complete list of 60+ tables and 60+ figures follow the Link