The global fumaric acid market was worth US$ 631 Million in 2018. Fumaric acid is a white or colorless crystalline chemical compound with a fruit-like taste. Also known as trans-butenedioic acid, it is naturally found in eukaryotes, bolete mushrooms, lichens and Iceland moss. It is also produced by humans when the skin is exposed to sunlight. Similar to malic acid, fumaric acid helps in the production of energy from food in the form of ATP. It is the strongest organic food acid as it a has higher relative sourness than other acidulants. Therefore, it offers long-lasting sourness and flavor as well as decreases the pH with minimal added sourness when used as a food additive. Commercially available in the form of dry powder, liquid or large pellet crystals, fumaric acid is also used in the manufacturing of medicines, animal feed, unsaturated polyester, cleaning agents and printing inks.
Global Fumaric Acid Market Drivers:
Fumaric acid is used as an acidulant, pH controller and flavor enhancer in the food and beverage industry. The rising popularity of processed foods, along with the increasing use of flavoring agents, is augmenting the demand for fumaric acid globally. Additionally, the presence of carbon-carbon double bonds and two carboxylic groups makes fumaric acid chemically suitable for polymerization and esterification reaction. As a result, it is widely employed in the production of alkyd and polyester resins which are durable, have a hard structure and offer high resistance to chemical corrosion. Besides this, it is also used for manufacturing body panels for both light- and heavy-duty vehicles. Looking forward, the market value is projected to reach US$ 855 Million by 2024, exhibiting a CAGR of around 5% during 2019-2024.
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