Glucaric Acid Market: Introduction
Glucaric acid is a kind of sugar acid derived by oxidizing polysaccharides/sugars with nitric acid. Since glucaric acid is produced from glucose, it is a biodegradable chemical and thus, has been identified as one of the top 12 renewable building block chemicals by the U.S. Department of energy (DOE). Alongside the fact that it is biodegradable and safely disposable in the environment, studies also show that consumption of glucaric acid reduces potential chances of cancer. Moreover, glucaric acid is also used as a health supplement for regulating metabolism in the human body. The compound has numerous potential applications, both as a building block of chemicals and direct applications in end use segments too. Currently, glucaric acid is largely used in the detergent industry where it has largely replaced phosphorous as the ‘detergent builder’ as phosphorus is considered harmful for the environment. Glucaric acid is also used as a corrosion inhibitor in cooling towers and deicer’s. Some other applications of glucaric acids include usage in concrete admixtures, health supplements, cosmetic ingredients, etc. Therefore, owing to its biodegradable nature, the demand for the chemical has increased significantly over the recent years. Thus, the global glucaric acid market is anticipated to record significant growth over the forecast period.
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Glucaric Acid Market: Dynamics
Glucose is a cheap and renewable source used to produce various chemicals, including glucaric acid. Glucaric acid is produced through a single-step process, i.e. oxidation of glucose. It is because of this reason that the demand for large scale production of glucaric acid has been increasing since the past few years. Furthermore, glucaric acid is an eco-friendly biodegradable chemical. Increasing awareness about the potential threats of non-biodegradable chemicals has led to growing inclination towards biodegradable chemicals, which is yet another significant factor expected to aid the rise in the demand. That apart, glucaric acid is now being used in a variety of applications. For instance, it is used in concrete admixtures used in construction, as a corrosion inhibitor and chemical intermediate, in health supplements and many more.
Although the production of glucaric acid is a single step process, nitric acid is used in its production process, which results in the formation of waste and harmful NOx gas. This gas must be treated before being released in the environment. Therefore, large scale production of glucaric acid is inhibited up to a certain extent by NOx production, which is expected to impede the expected growth of the glucaric acid market.
Owing to its eco-friendly nature, the demand for glucaric acid is increasing in other application segments too where it can be replaced with non-biodegradable chemicals. Also, formation of certain polymers using glucaric acid, mainly used for making nylon, is a current trends being witnessed in the glucaric acid market. Furthermore, manufacturers are focusing on the development of innovative process techniques which can reduce the amount of waste generated during production.
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Glucaric Acid Market: Segmentation
The global glucaric acid market can be segmented on the basis of product type and application.
On the basis of product type, the global glucaric acid market is segmented into Pure glucaric acid, Calcium D-glucarate, Potassium Sodium D-glucarate and D- glucaric acid-1,4-lactone. On the basis of application, the global glucaric acid market is segmented into detergents, chemicals, corrosion inhibitors, food additives/health supplements and others.
Glucaric Acid Market: Regional Outlook
The Asia Pacific is anticipated to register significant growth owing to the steady growth in the detergents market. Also, significant consumption of glucaric acid in healthcare industry is also one of the key factors responsible for estimated growth in the region. North America, particularly the U.S, has been the largest market for glucaric acid owing to the stringent environmental regulations and high adoptability. Consumption of glucaric acid is estimated to record steady growth in Europe owing to high applicability of glucaric acid along with stringent regulations. Latin America and Middle East & Africa are estimated to show relative lackluster growth over the forecast period.
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Glucaric Acid Market: Key Players
Examples of some of the market participants identified across the value chain of the global Glucaric acid market are:
- Rennovia Inc
- Rivertop Renewables, Inc.
- Kalion Inc.
- Haihang Industry Co., Ltd.
- AK Scientific Inc.
- Alfa Chemistry
- Carbosynth Limited
- Merck KGaA
- Cayman Chemical
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, and sales channels, vehicle types.https://atlanticfinancialmanagement.co.uk/