The global Fumaric Acid market is anticipated to grow significantly at a CAGR of 5.3% over the forecast period (2021-2027). The key aspect that drives the growth of the global fumaric acid market is the rapid growth in the building and construction industry. Fumaric acid is consumed in the production of UPR and alkyd resins. Unsaturated polyester resins and alkyd resins’ demand is expected to rise in the future years as they are extensively used in the construction industry. Rising remodeling and construction activities especially in developing economies of the Asia-Pacific region are likely to drive the demand for unsaturated polyester resin and alkyd resins.
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Besides, there is also likely to be an increased demand for paints which is expected to grow owing to increasing construction activities. Besides, the presence of the key players continuously innovating novel technologies also enhances market growth. Players such as Merck Group, Nippon Shokubai Co. Ltd., Tate & Lyle PLC, The Chemical Co., Fuso Chemical Co. Ltd., and UPC Group among others substantially contribute to the market growth. New product launches & developments, partnerships, agreements, and acquisitions are some of the growth strategies adopted by the players to sustain in the competitive fumaric acid market during the forecast period.
Market Coverage
- Market number available for – 2020-2027
- Base year- 2020
- Forecast period- 2021-2027
- Segment Covered- By Type and Applications
- Regions Covered- North America, Europe, Asia-Pacific, Rest of the World
- Competitive Landscape – Merck Group, Nippon Shokubai Co. Ltd., Tate & Lyle PLC, The Chemical Co., Fuso Chemical Co. Ltd., and UPC Group among others
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Global Fumaric Acid Market – Segmentation
By Type
- Food Grade
- Technical Grade
By Applications
- Food & Beverage Additives
- Personal Care & Cosmetics
- Rosin Paper Sizing
- Unsaturated Polyester Resin
- Alkyd Resin
- Other
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