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Fumaric Acid Market

Global Fumaric Acid Market Size, Share, Forecast: By Application: Food Additives, Rosin-Sized Sheathing Paper, Unsaturated Polyester Resins, Alkyd Resins, Others; By End Use Industry: Food and Beverages, Cosmetics, Pharmaceuticals, Chemicals; Regional Analysis; Market Dynamics; Competitive Landscape; 2024-2032

Global Fumaric Acid Market Outlook

The global fumaric acid market reached a value of almost USD 759.90 million in the year 2023. The market is further expected to grow at a CAGR of 4.8% between 2024 and 2032 to reach a value of almost USD 1158.85 million by 2032.

 

Global Fumaric Acid Market

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The global fumaric acid market is driven by the growing popularity of processed food and demand for ready-to-drink beverages. On the basis of demand, the Asia Pacific held the largest regional share in 2020 and is expected to continue being a dominant region in the forecast period, due to a huge demand for convenience food, along with a rise in per capita middle-class disposable income and population boost. The rising construction and remodelling activities in the region will fuel the market growth. Developing economies of the Asia Pacific, including Thailand and Indonesia, are witnessing increased construction and remodelling activities, further enhancing the global fumaric acid market.

North America accounted for a significant market share in 2020 but is expected to witness a restricted growth in the coming years owing to stringent government regulations. However, the rising demand for paints within Europe and North America, used during the construction of residential as well as commercial structures, is expected to boost the global fumaric acid market in the forecast period.

 

Fumaric Acid Market by Application

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Market Segmentation

Fumaric acid, having the chemical formula, C4H4O4, is produced through the oxidation of succinic acid, with the help of succinate dehydrogenase. It is a dicarboxylic acid, which is found naturally in the form of a colourless crystalline powder in eukaryotes, bolete mushrooms, lichens, and Iceland moss. It also occurs in the human body when the skin comes in come in contact with direct sunlight. It is widely used as a food additive due to its sour taste.

Fumaric acid finds wide applications in the following segments:

  • Food Additives
  • Rosin-Sized Sheathing Paper
  • Unsaturated Polyester Resins
  • Alkyd Resins
  • Others

The end-use industries can be segmented as follows:

  • Food and Beverages
  • Cosmetics
  • Pharmaceuticals
  • Chemicals

The report also covers the regional markets like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Fumaric Acid Market by Region

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Market Analysis

The global fumaric acid market is driven by the increasing standards of living, along with economic development, especially in emerging economies of the Asia Pacific region such as India and China. The rising fuel consumption of processed food and beverages within developing countries is expected to support the global industry growth. The growing inclination towards nutritional diet is expected to impact the industry growth for processed food and beverages positively and further impacting the fumaric acid industry.

The introduction of extensive flavours, such as exotic and ethnic flavours within the food and beverages industry, is expected to drive the market. Further, the industry is accelerated by the rising construction and remodelling activities in emerging economies of the Asia Pacific and Latin America. The demand for paints will augment the industry for construction activities. As a result, increasing construction activities are expected to boost paints and UPR demand, accelerating the fumaric acid market. 

The increase in automobile production across the globe is expected to have a positive impact on the industry. Accelerating application in pharmaceuticals is estimated to invigorate the growth of the global fumaric acid market. It is considered to be a potential substitute for synthetic organic acids like citric acid and tartaric acid to be used in fruit syrups and snacks, creating growth opportunities for the forecast period. Although the strict government regulations due to the rising environmental concerns are expected to obstruct the industry growth of fumaric acid, the rising investments in research to create bio-based fumaric acid will provide major opportunities for industry participants. Additionally, the popularity of nutritional bars and cereals will provide lucrative opportunities for the industry participants, further aiding the market growth. 

 

Competitive Landscape

The report gives a detailed analysis of the following key players in the global fumaric acid market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • Bartek Ingredients Inc.  
  • Prinova Group LLC.
  • Fuso Chemical Co., Ltd.  
  • Polynt SpA
  • Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Application
  • End Use Industry
  • Region
Breakup by Application
  • Food Additives
  • Rosin-Sized Sheathing Paper
  • Unsaturated Polyester Resins
  • Alkyd Resins
  • Others
Breakup by End Use Industry
  • Food and Beverages
  • Cosmetics
  • Pharmaceuticals
  • Chemicals
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Bartek Ingredients Inc.  
  • Prinova Group LLC.
  • Fuso Chemical Co., Ltd.  
  • Polynt SpA
  • Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Fumaric Acid Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Fumaric Acid Historical Market (2018-2023) 
    8.3    Global Fumaric Acid Market Forecast (2024-2032)
    8.4    Global Fumaric Acid Market by Application
        8.4.1    Food Additives
            8.4.1.1    Historical Trend (2018-2023)
            8.4.1.2    Forecast Trend (2024-2032)
        8.4.2    Rosin-Sized Sheathing Paper
            8.4.2.1    Historical Trend (2018-2023)
            8.4.2.2    Forecast Trend (2024-2032)
        8.4.3    Unsaturated Polyester Resins
            8.4.3.1    Historical Trend (2018-2023)
            8.4.3.2    Forecast Trend (2024-2032)
        8.4.4    Alkyd Resins
            8.4.4.1    Historical Trend (2018-2023)
            8.4.4.2    Forecast Trend (2024-2032)
        8.4.5    Others
    8.5    Global Fumaric Acid Market by End Use Industry
        8.5.1    Food and Beverages
            8.5.1.1    Historical Trend (2018-2023)
            8.5.1.2    Forecast Trend (2024-2032)
        8.5.2    Cosmetics
            8.5.2.1    Historical Trend (2018-2023)
            8.5.2.2    Forecast Trend (2024-2032)
        8.5.3    Pharmaceuticals
            8.5.3.1    Historical Trend (2018-2023)
            8.5.3.2    Forecast Trend (2024-2032)
        8.5.4    Chemicals
            8.5.4.1    Historical Trend (2018-2023)
            8.5.4.2    Forecast Trend (2024-2032)
    8.6    Global Fumaric Acid Market by Region
        8.6.1    North America
            8.6.1.1    Historical Trend (2018-2023) 
            8.6.1.2    Forecast Trend (2024-2032)
        8.6.2    Europe
            8.6.2.1    Historical Trend (2018-2023) 
            8.6.2.2    Forecast Trend (2024-2032)
        8.6.3    Asia Pacific
            8.6.3.1    Historical Trend (2018-2023) 
            8.6.3.2    Forecast Trend (2024-2032)
        8.6.4    Latin America
            8.6.4.1    Historical Trend (2018-2023) 
            8.6.4.2    Forecast Trend (2024-2032)
        8.6.5    Middle East and Africa
            8.6.5.1    Historical Trend (2018-2023) 
            8.6.5.2    Forecast Trend (2024-2032)
9    North America Fumaric Acid Market Analysis
    9.1    United States of America 
        9.1.1    Historical Trend (2018-2023) 
        9.1.2    Forecast Trend (2024-2032)
    9.2    Canada
        9.2.1    Historical Trend (2018-2023) 
        9.2.2    Forecast Trend (2024-2032)
10    Europe Fumaric Acid Market Analysis
    10.1    United Kingdom
        10.1.1    Historical Trend (2018-2023) 
        10.1.2    Forecast Trend (2024-2032)
    10.2    Germany
        10.2.1    Historical Trend (2018-2023) 
        10.2.2    Forecast Trend (2024-2032)
    10.3    France
        10.3.1    Historical Trend (2018-2023) 
        10.3.2    Forecast Trend (2024-2032)
    10.4    Italy
        10.4.1    Historical Trend (2018-2023) 
        10.4.2    Forecast Trend (2024-2032)
    10.5    Others
11    Asia Pacific Fumaric Acid Market Analysis
    11.1    China
        11.1.1    Historical Trend (2018-2023) 
        11.1.2    Forecast Trend (2024-2032)
    11.2    Japan
        11.2.1    Historical Trend (2018-2023) 
        11.2.2    Forecast Trend (2024-2032)
    11.3    India
        11.3.1    Historical Trend (2018-2023) 
        11.3.2    Forecast Trend (2024-2032)
    11.4    ASEAN
        11.4.1    Historical Trend (2018-2023) 
        11.4.2    Forecast Trend (2024-2032)
    11.5    Australia
        11.5.1    Historical Trend (2018-2023) 
        11.5.2    Forecast Trend (2024-2032)
    11.6    Others
12    Latin America Fumaric Acid Market Analysis
    12.1    Brazil
        12.1.1    Historical Trend (2018-2023) 
        12.1.2    Forecast Trend (2024-2032)
    12.2    Argentina
        12.2.1    Historical Trend (2018-2023) 
        12.2.2    Forecast Trend (2024-2032)
    12.3    Mexico
        12.3.1    Historical Trend (2018-2023) 
        12.3.2    Forecast Trend (2024-2032)
    12.4    Others
13    Middle East and Africa Fumaric Acid Market Analysis
    13.1    Saudi Arabia
        13.1.1    Historical Trend (2018-2023) 
        13.1.2    Forecast Trend (2024-2032)
    13.2    United Arab Emirates
        13.2.1    Historical Trend (2018-2023) 
        13.2.2    Forecast Trend (2024-2032)
    13.3    Nigeria
        13.3.1    Historical Trend (2018-2023) 
        13.3.2    Forecast Trend (2024-2032)
    13.4    South Africa
        13.4.1    Historical Trend (2018-2023) 
        13.4.2    Forecast Trend (2024-2032)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Value Chain Analysis
16    Price Analysis
17    Manufacturing Process

    17.1    Overview
    17.2    Detailed Process Flow
    17.3    Operation Involved
18    Competitive Landscape
    18.1    Market Structure
    18.2    Company Profiles
        18.2.1    Bartek Ingredients Inc.
            18.2.1.1    Company Overview
            18.2.1.2    Product Portfolio
            18.2.1.3    Demographic Reach and Achievements
            18.2.1.4    Certifications
        18.2.2    Prinova Group LLC.
            18.2.2.1    Company Overview
            18.2.2.2    Product Portfolio
            18.2.2.3    Demographic Reach and Achievements
            18.2.2.4    Certifications
        18.2.3    Fuso Chemical Co., Ltd.
            18.2.3.1    Company Overview
            18.2.3.2    Product Portfolio
            18.2.3.3    Demographic Reach and Achievements
            18.2.3.4    Certifications
        18.2.4    Polynt SpA
            18.2.4.1    Company Overview
            18.2.4.2    Product Portfolio
            18.2.4.3    Demographic Reach and Achievements
            18.2.4.4    Certifications
        18.2.5    Others
19    Key Trends and Developments in the Market


List of Key Figures and Tables

1.    Global Fumaric Acid Market: Key Industry Highlights, 2018 and 2032
2.    Global Fumaric Acid Historical Market: Breakup by Application (USD Million), 2018-2023
3.    Global Fumaric Acid Market Forecast: Breakup by Application (USD Million), 2024-2032
4.    Global Fumaric Acid Historical Market: Breakup by End Use Industry (USD Million), 2018-2023
5.    Global Fumaric Acid Market Forecast: Breakup by End Use Industry (USD Million), 2024-2032
6.    Global Fumaric Acid Historical Market: Breakup by Region (USD Million), 2018-2023
7.    Global Fumaric Acid Market Forecast: Breakup by Region (USD Million), 2024-2032
8.    North America Fumaric Acid Historical Market: Breakup by Country (USD Million), 2018-2023
9.    North America Fumaric Acid Market Forecast: Breakup by Country (USD Million), 2024-2032
10.    Europe Fumaric Acid Historical Market: Breakup by Country (USD Million), 2018-2023
11.    Europe Fumaric Acid Market Forecast: Breakup by Country (USD Million), 2024-2032
12.    Asia Pacific Fumaric Acid Historical Market: Breakup by Country (USD Million), 2018-2023
13.    Asia Pacific Fumaric Acid Market Forecast: Breakup by Country (USD Million), 2024-2032
14.    Latin America Fumaric Acid Historical Market: Breakup by Country (USD Million), 2018-2023
15.    Latin America Fumaric Acid Market Forecast: Breakup by Country (USD Million), 2024-2032
16.    Middle East and Africa Fumaric Acid Historical Market: Breakup by Country (USD Million), 2018-2023
17.    Middle East and Africa Fumaric Acid Market Forecast: Breakup by Country (USD Million), 2024-2032
18.    Global Fumaric Acid Market Structure

Key Questions Answered in the Report

The global fumaric acid market reached a value of USD 759.90 million in 2023. 

The market is projected to grow at a CAGR of nearly 4.8% in the forecast period of 2024-2032.

The market is estimated to reach a value of about USD 1158.85 million by 2032.

The major drivers of the market include rising disposable incomes, increasing population, improved standards of living, the rising consumption of processed food and beverages, and increasing demand for fumaric acid in the automobile and construction sectors.

The growing investments in R&D activities for developing bio-based fumaric acid, the surging automotive production, the growing popularity of nutritional bars and cereals, and the rising demand for exotic and ethnic flavours in the food and beverage sector are the key trends aiding the market.

North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa are the leading regions in the market.

The significant applications of fumaric acid are food additives, rosin-sized sheathing paper, unsaturated polyester resins, and alkyd resins, among others.

The major end-use industries of fumaric acid include food and beverages, cosmetics, pharmaceuticals, and chemicals.

The leading players in the market are Bartek Ingredients Inc., Prinova Group LLC., Fuso Chemical Co., Ltd., and Polynt SpA, among others.

Analyst Review

The global fumaric acid market attained a value of USD 759.90 million in 2023, driven by the improved living standards of the consumers. Aided by the rising consumption of processed food and beverages, the industry is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 4.8%. The industry is projected to reach USD 1158.85 million by 2032. 

EMR’s meticulous research methodology delves deep into the industry, covering the macro and micro aspects of the industry. Based on its applications, the global fumaric acid market can be segmented into food additives, rosin-sized sheathing paper, unsaturated polyester resins, and alkyd resins, among others. On the basis of end use industries, the industry can be segmented into food and beverages, cosmetics, pharmaceuticals, and chemicals. The major regional markets for fumaric acid are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above industry include Bartek Ingredients Inc., Prinova Group LLC., Fuso Chemical Co., Ltd., and Polynt SpA, among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.  

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