Glucaric Acid Market Size Growth Insights Top Countries Data, COVID-19 Impact, Industry Share,, Future Business Trends, Upcoming Demand, Innovations and Regional Outlook till 2031
An extensive study offering forecast assessment on Glucaric Acid Market has recently been released by Kenneth research, which is a platform containing market research reports on FMCG, food and beverages. Kenneth Research aims to provide quality reports to its customers and help company investors planning for expansion of their business to take key decisions and form strategies by providing insights with the latest market trends and scope that helps them gain an extra edge over competitiveness in the marketplace.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Glucaric Acid Market products.
The Glucaric Acid Market is anticipated to reach over USD 1,467 million by 2026 according to a new research published by Polaris Market Research. In 2017, the detergents segment dominated the global market, in terms of revenue. Asia-Pacific is expected to be the leading contributor to the global market revenue during the forecast period.
Increasing application of Glucaric acid in agriculture, chemical, and food industry supports the growth of the Glucaric acid Market. Increasing use in polymer manufacturing further promotes the growth of this market. Glucaric acid is increasingly replacing phosphates in detergents owing to stringent regulations regarding harmful environmental effects of phosphates, thereby supporting market growth.
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Other factors supporting market growth include increasing awareness regarding environment, and research and development for advancement. Increasing demand from developing nations, and growing use in healthcare sector is expected provide numerous growth opportunities to the market players during the forecast period.
Asia-Pacific Glucaric acid Market generated the highest revenue in 2017, and is expected to lead the global market throughout the forecast period. The rising use in agriculture and chemical industries in the region drive the market growth. The increasing demand of detergents and growing environmental concerns in the region further support market growth. The increasing demand of glucaric acid for animal feed and growing demand for healthy livestock is expected to accelerate the adoption of glucaric acid during the forecast period.
The well-known companies profiled in the Glucaric acid Market report include Cayman Chemical, Rivertop Renewables, Inc., Carbosynth Limited, Haihang Industry Co., Ltd., Rennovia Inc, Kalion Inc., Alfa Chemistry, AK Scientific Inc., Merck KGaA, and Shanghai Meicheng Chemical Co. Ltd. among others. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.
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