Itaconic Acid Market Analysis

Itaconic Acid Market Analysis

Synthetic latex accounted for over 50% of the global itaconic acid market size, mainly employed in synthetic latex for polymer stabilization and is used in order to improve the final product quality i.e. SBR latex. As per industry estimates, the application expects stagnant growth. However, significant change would occur if a novel product enters the market.
 

Strong PMMA market growth forecast is likely to fuel itaconic acid demand in the production of MMA. The industry expects the segment to surpass USD 80 million valuation by 2024. The MMA demand is largely driven by new applications such as LCD screens, mobile phone screens, monitors, and video equipment. China remains to be great potential for the MMA.
 

Unsaturated polyester resins (UPR) which is mainly consumed in marine, construction, and transportation industries is foreseen to be an attractive potential application. Itaconic acid is a potential green chemical to substitute maleic anhydride in UPR production owing to its similar structure and has potential to be a good substitute.
 

China itaconic acid market size is projected to surpass USD 20 million valuation by 2024. APAC is the major producer as well as consumer for itaconic acid market and caters to over 50% of the global demand.
 

Germany itaconic acid market size was 2.8 million in 2015. Favorable government norms to promote bio based production owing to environment safety may drive regional industry growth. EU regulations to stop sodium tripolyphosphate (STPP) based detergents production should drive industry growth in detergent agents.
 

Personal care industry expansion accompanied by rising preference for bio-based products in South Africa, Saudi Arabia, and UAE may stimulate MEA  demand.