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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.
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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.
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