Market Size of US Fumaric Acid Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 3.00 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
US Fumaric Acid Market Analysis
The US fumaric acid market is estimated to reach 25.70 kilotons by the end of this year and is projected to reach 30.17 kilotons in the next five years, registering a CAGR of 3% during the forecast period.
The market was negatively impacted due to COVID-19. The shutdown of numerous companies and factories disrupted the supply networks and harmed production, delivery schedules, and product sales. Currently, the market has recovered from the COVID-19 pandemic and is growing at a significant rate.
- The increasing demand from the food and beverage industry and growing applications in the pharmaceutical industry are major factors driving the growth of the market studied.
- However, health hazard related to fumaric acid is likely to restrain the growth of the market studied.
- Nevertheless, extensive research and development activities are likely to create lucrative growth opportunities for the US fumaric acid market.
US Fumaric Acid Industry Segmentation
Fumaric acid (C4H4O4) is an organic acid widely found in nature and is an element of organic biosynthesis in humans. It is an unsaturated dicarboxylic acid chemically. It exists as white or nearly white crystals, odorless with a very tart taste.
The market is segmented by type, application, and end-user industry. By type, the market is segmented into food grade and technical grade. By application, the market is segmented into food and beverage processing, rosin paper sizing, unsaturated polyester resin, alkyd resin, personal care and cosmetics, and other applications (animal feed, surfactants, plasticizers, printing inks, and agricultural chemicals). By end-user industry, the market is segmented into food and beverage, cosmetics, pharmaceutical, chemical, and other end-user industries (rubber and paints). For each segment, the market sizing and forecasts are provided in terms of volume (tons).
| Type | |
| Food Grade | |
| Technical Grade |
| Application | |
| Food & Beverage Processing | |
| Rosin Paper Sizing | |
| Unsaturated Polyester Resin | |
| Alkyd Resin | |
| Personal Care and Cosmetics | |
| Other Applications (Animal Feed, Surfactants, Plasticizers, Printing Inks, Agricultural Chemicals) |
| End-user Industry | |
| Food and Beverage | |
| Cosmetics | |
| Pharmaceutical | |
| Chemical | |
| Other End-user Industries (Rubber, Paint) |
US Fumaric Acid Market Size Summary
The United States fumaric acid market is experiencing a recovery and growth trajectory following the disruptions caused by the COVID-19 pandemic. The market is driven by increasing demand from the food and beverage industry, where fumaric acid is utilized as an acidulant, pH controller, and taste enhancer. The rising popularity of processed foods and flavoring additives has significantly contributed to the market's expansion. Additionally, the pharmaceutical industry's growing applications of fumaric acid, particularly in oral formulations and psoriasis treatments, are further propelling market growth. Despite these positive trends, health concerns related to fumaric acid pose potential challenges to market expansion. However, ongoing research and development activities are expected to create promising opportunities for future growth.
The market landscape is characterized by a consolidated structure, with key players such as Actylis, Changmao Biochemical Engineering Company Limited, Fuso Chemical Co. Ltd, Polynt SpA, and Thirumalai Chemicals Ltd. These companies are actively engaged in expanding their production capabilities and product offerings. For instance, Thirumalai Chemicals Ltd has initiated the construction of a new manufacturing plant in West Virginia, while Fuso Chemical Co. Ltd has announced plans to expand its lineup of coated fruit acid products. The robust demand for fumaric acid in various sectors, coupled with strategic expansions by major players, underscores the market's potential for continued growth in the coming years.
US Fumaric Acid Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Increasing Demand from Food and Beverage Industry
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1.1.2 Growing Application in Pharmaceutical Industry
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1.1.3 Other Drivers
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1.2 Restraints
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1.2.1 Health hazard Related to Fumaric Acid
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1.2.2 Other Restraints
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1.3 Industry Value-Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Buyers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION (Market Size in Volume)
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2.1 Type
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2.1.1 Food Grade
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2.1.2 Technical Grade
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2.2 Application
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2.2.1 Food & Beverage Processing
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2.2.2 Rosin Paper Sizing
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2.2.3 Unsaturated Polyester Resin
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2.2.4 Alkyd Resin
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2.2.5 Personal Care and Cosmetics
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2.2.6 Other Applications (Animal Feed, Surfactants, Plasticizers, Printing Inks, Agricultural Chemicals)
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2.3 End-user Industry
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2.3.1 Food and Beverage
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2.3.2 Cosmetics
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2.3.3 Pharmaceutical
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2.3.4 Chemical
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2.3.5 Other End-user Industries (Rubber, Paint)
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US Fumaric Acid Market Size FAQs
What is the current US Fumaric Acid Market size?
The US Fumaric Acid Market is projected to register a CAGR of greater than 3% during the forecast period (2024-2029)
Who are the key players in US Fumaric Acid Market?
Actylis, Changmao Biochemical Engineering Company Limited, Fuso Chemical Co. Ltd, Polynt S.p.A. and Thirumalai Chemicals Ltd are the major companies operating in the US Fumaric Acid Market.
