About Fumaric Acid
Fumaric Acid is an Organic Compound which is also known as Trans-1, 2-Ethylentricarboxylic Acid, Lichenic Acid, & Boletic Acid. It is a Multifunctional Chemical Intermediate that Finds Applications in Nearly Many Field of Industrial Chemistry. It is White, Odourless, & Has Fruit like Taste
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The Market for the Fumaric Acid is Fragmented with the Presence of Many Players. Owing to Booming Industrialization & Urbanization, there are Growing Prospects for the New Players to Enter the Market Analyst at AMA Research estimates that United States & Asian Vendors will contribute the maximum growth to Global Fumaric Acid market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Bartek Ingredients Inc (Canada), Fuso Chemical Co Ltd (Japan), Dastech International Inc (United States), Thirumalai Chemicals Ltd. (India), Xilong Scientific Co Ltd (China), Nippon Shokubai Co., Ltd (Japan), Tianjin Bohai Chemical Industry Group Co Ltd (China), The Chemical Company (United States), Wego Chemical Group (United States) and Changzhou Yabang Chemical Co. Ltd (China) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Anhui Huaheng Biotechnology Co., Ltd (China), Isegen South Africa Pty Ltd (South Africa), Polynt Group (Italy), Sip Chemical Industries (India) and Esim Chemicals (Austria).
Segmentation Overview
AMA Research has segmented the market of Global Fumaric Acid market by Type (Powder, Crystal, Granules and Liquid), Application (Food & Beverages, Pharmaceutical, Chemical, Cosmetics and Others) and Region.
On the basis of geography, the market of Fumaric Acid has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Sales Channel, the sub-segment i.e. Direct Sales will boost the Fumaric Acid market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Grade, the sub-segment i.e. Food will boost the Fumaric Acid market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increased Popularity & Adoption of Fumaric Acid for Producing Products like Nutritional Bars, Energy Drinks, & Nutritional Cereals, Owing to the Booming Fitness & Supplements Industry
Market Growth Drivers:
Growth in the Food & Beverages Industry Using Fumaric Acid as a Food Additive, Acidity Regulator, Food Preservative, & Coagulant for Producing Products-Such As Desserts, Jellies & Jam, Fruit Juices, Confectionaries, & Many More and Rise in the Building & Construction Industry Utilising Fumaric Acid for Manufacturing Resins, Paints, Inks, Coatings, & Other Essential Products
Challenges:
Presence of Alternate Substances like Tartaric Acid & Citric Acid may pose a Challenge
Restraints:
Side Effects Associated with the Long Term Usage of Fumaric Acid
Opportunities:
There is an Increased Opportunity for the Market Expansion, due to Surge in the Utilization of Fumaric Acid in Plastics & Polymer Industry and There are Rising Prospects for the Growth of Fumaric Acid Market, owing to The Rising Applications of Fumaric Acid in Automotive & Pharmaceuticals Industry
Market Leaders and their expansionary development strategies
In June 2022, Sandoz expands its portfolio and launched of the generic drug Dimethyl fumarate HEXAL®, which is approved for the treatment of adults with relapsing remitting multiple sclerosis. Dimethyl fumarate is an oral medicine used to treat adult patients with relapsed remitting multiple sclerosis. The starting dose is 120 mg twice a day. After 7 days, the dose should be increased to the recommended maintenance dose of 240 mg twice a day.
In November 2022, Shionogi & Co., Ltd. announced that Xocova, a novel anti-SARS-CoV-2 drug for COVID-19 obtained emergency regulatory approval from the Ministry of Health, Labour and Welfare (MHLW) in Japan for the indication of SARS-CoV-2 infection. This approval was granted under the emergency regulatory approval system provided for in Article 14-2-2 of the Pharmaceuticals and Medical Devices Act.
Key Target Audience
Manufacturers of Fumaric Acid, Distributors, Traders, & Suppliers, Importers & Exporters, Investors, Regulatory & Government Bodies and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.