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Global Glucaric Acid Market to Grow at a CAGR of 9.9% During 2021-2026, Aided by Rising Use of Glucaric Acid as a Corrosion Inhibitor

According to a new report by EMR titled, ‘Global Glucaric Acid Market Report and Forecast 2021-2026’, the market attained a value of about USD 0.9 billion in 2020. The industry is further expected to grow at a CAGR of 9.9% in the forecast period of 2021-2026 to reach a value of nearly USD 1.6 billion by 2026.

The extensive use of glucaric acid as a corrosion inhibitor is accelerating the market growth of the industry. The deployment of sodium glucarate in protecting vehicle and highway infrastructure from corrosion caused by salt brine used as a deicer on roadways robustly increases the market demand for glucaric acid, thus augmenting the market growth. Furthermore, as recognised by the United States Department of Energy (DOE), glucaric acid is an environment-friendly, renewable energy source. The growing awareness about the product is predicted to bolster market growth. Moreover, due to the negative environmental properties of phosphate, it is rapidly replaced by the eco-friendly substitute, glucaric acid, in the construction industry to prevent corrosion. Hence, the use of glucaric acid as a corrosion inhibitor is augmenting industry growth.

The market is expected to be aided by the growing expansion strategies by the key players, such as The Archer-Daniels-Midland Company (NYSE: ADM) and Kalion, Inc. Kalion, Inc. has recently announced that the company, along with eight others, was entitled by the United States Department of Energy to receive $5.7 million in funding with Agile BioFoundry to advance the fundamental understanding of industrial biotechnology. The funding will aid in the development of high purity, low-cost glucaric acid. The funding is aimed at using advanced techniques, analytics, and machine learning to optimise the production of environment-friendly glucaric acid. With low production cost and optimal use of pure glucaric, the product can be applied in a varied application, which is expected to propel the product's market demand, thereby bolstering the overall market growth. Such progressions by key industry players are driving the industry growth of glucaric acid.

Market Analysis by Product, Application and Region:

  • Based on product, the market can be segmented into pure glucaric acid, calcium D-glucarate, potassium sodium D-glucarate, and D-glucaric acid-1,4-lactone, among others. 
  • On the basis of application, the market can be classified into food ingredients, detergents, corrosion inhibitors, and de-icing chemicals, among others. 
  • The major regional markets for glucaric acid are North America, Latin America, Europe, the Asia Pacific, and the Middle East and Africa.

Key Findings of the Report:

  • The market growth of glucaric acid can be attributed to the rising use of the product as an alternative to phosphate in cleaning agents and detergents.
  • As glucaric acid is derived from oxidised sugar, it is considered an environment-friendly, sustainable product. The growing awareness about the environment-friendly nature of the product is bolstering the market growth.
  • Research and development (R&D) to derive the benefits of calcium D-glucarate as an anti-cancer agent is anticipated to augment the market growth in the forecast period.
  • The use of sodium glucaric acid to prevent corrosion in the construction and automation industry is driving the industry growth of glucaric acid.

Key Offerings of the Report:

  • The EMR report gives an overview of the global glucaric acid industry for the periods (2016-2020) and (2021-2026).
  • The report also offers historical (2016-2020) and forecast (2021-2026) markets for products, applications, and major regions of glucaric acid.
  • It assesses regional price trends for the (2016-2020) and (2021-2026) periods.
  • The report analyses market dynamics, covering the key demand and price indicators in the market along with an assessment of the SWOT and Porter’s Five Forces Model.

The major players in the global glucaric acid market are The Archer-Daniels-Midland Company, Kalion, Inc., Chemos GmbH & CokG, and Cayman Chemical, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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