Itaconic Acid Market estimated to reach beyond 102.3 Million USD by 2022
The [104 Pages Report] "Itaconic Acid Market by Derivative (Styrene Butadiene, Methyl Methacrylate, Polyitaconic Acid), Application (SBR Latex, Synthetic Latex, Chillant Dispersant Agent, Superabsorbent Polymer), and Region - Global Forecast to 2022" published by MarketsandMarkets™, the Itaconic Acid Market is projected to grow from USD 83.8 Million in 2017 to USD 102.3 Million by 2022, at a CAGR of 4.1% from 2017 to 2022. The increasing demand for bio-based unsaturated polyester resin and its non-toxic properties are fueling the growth of the Itaconic Acid Market across the globe.
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Based on derivative, the methyl methacrylate segment of the itaconic acid market is projected to grow at the highest CAGR between 2017 and 2022. Itaconic acid is used in the form of poly methyl methacrylate for use in medical, architecture, and automotive industries. These factors are expected to increase the demand for methyl methacrylate derivative of itaconic acid during the forecast period.
Based on application, the itaconic acid market has been segmented into SBR latex, synthetic latex, chillant dispersant agents, superabsorbent polymers, and others. The superabsorbent polymers application segment of the itaconic acid market is projected to grow at the highest CAGR between 2017 and 2022. Itaconic acid in superabsorbent polymers offers improved foam stability, binding capacity with metal ions, and effective stability across a broad pH range, etc., making them useful in detergents, and cosmetic and personal care end-use industries. These factors have increased the demand for itaconic acid for use in the superabsorbent polymers application.
Itaconix Corporation (UK), Qingdao Langyatai (China), Zhejiang Guoguang (China), Alpha Chemika (India), Shandong Kaison (China), Jinan Huaming (China), Iwata Chemical (Japan), Aekyung Petrochemical (South Korea), Ronas Chemical (China), and Chengdu Jinkai (China) are some of the leading players operating in the itaconic acid market. These players have been adopting various organic and inorganic growth strategies such as agreements, acquisitions, joint ventures, and expansions to enhance their market shares in the itaconic acid market.
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