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Itaconic Acid Market

Itaconic Acid Market for Synthetic Latex, Unsaturated Polyester Resins, Detergents, Superabsorbent Polymers (SAP), and Other Applications - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023

 
Itaconic acid, also known as methyl succinic acid, is one of the important bio-based platform chemicals. Itaconic acid was recognized as one of the twelve promising chemicals obtained from biomass by the U.S. Department of Energy (DoE) in 2004. The itaconic acid market is niche in nature due to its limited consumption in various end-user industries on account of the large availability of substitutes. The cost of production is an important factor determining the pricing of itaconic acid. Currently, the price of itaconic acid is high which has resulted in failure to replace the demand for its substitutes in several application industries including synthetic latex, unsaturated polyester resins, detergents, superabsorbent polymers, etc. However, with ongoing developments and increasing production scale-up, the price of itaconic acid is expected to decline significantly in the near future. As a result, the use of itaconic acid in several application industries is projected to increase during the forecast period from 2015 to 2023. 
 
Superabsorbent polymers (SAP) is one of the key applications of itaconic acid. Itaconic acid offers vast potential to replace the petroleum-based acrylic acid used in the production of SAP. It is also emerging as a prospective replacement for maleic anhydride in the production of unsaturated polyester resins (UPR) since it offers characteristics similar to maleic anhydride. Rising demand for UPR to produce fiber reinforced polymer (FRP) composites, artificial stones, pipes, electrical cabinets, and laminating resins is expected to boost the demand for itaconic acid. However, the production cost of itaconic acid is exorbitant, which is expected to impede market growth for the period from 2015 to 2023. 
 
Limited exploration and narrow potential of itaconic acid as drop-in replacement in application industries hampers its market growth. This can be primarily ascribed to the limited exploration of technology for the manufacture of itaconic acid. Moreover, itaconic acid offers limited potential as a drop-in replacement in several application industries such as UPR, detergents, and SAP. Adhesives and coatings applications are expected to provide significant growth opportunities in the global itaconic acid market. Itaconic acid is used to prepare resins that find extensive application in emulsion coatings, coatings for car, leather coatings, refrigerators, and other electrical appliances. 
 
Synthetic latex, unsaturated polyester resins (UPR), detergents, superabsorbent polymers (SAP), and others including lubricant oils, adhesives, paints and coatings, pharmaceuticals, herbicides, and acrylic fiber are the major applications in the global itaconic acid market. Synthetic latex is the largest application segment that held a share of 55.6% in 2014. Itaconic acid is used as a cross-linking agent in the copolymerization of styrene butadiene rubber (SBR) latex. Detergents, which is another application segment of the itaconic acid market, is expected to witness the slowest growth rate for the period from 2015 to 2023. Poly itaconic acid (a derivative of itaconic acid) has the potential to replace amino carboxylate dispersant agents in detergents. However, availability of several other bio-based substitutes hampers the growth of itaconic acid in detergents application. 
 
Asia Pacific dominated the global itaconic acid market both in terms of volume and revenue in 2014. It held a share of more than 50% of the global itaconic acid market in 2014. High concentration of production capacities due to the shutdown of the manufacturing plants of itaconic acid in other parts of the world has led to this growth. The Middle East and Africa region is expected to witness below average growth rates as a result of economic transition; however, the region is expected to witness high growth potential for the period from 2015 to 2023. Latin America is projected to witness a moderate growth rate as demand for itaconic acid is likely to be significant in Brazil, Venezuela, and Argentina. North America is projected to witness a sluggish growth rate during the forecast period due to the closure of manufacturing facilities as a result of limited demand from end-user industries. Similarly, Rhodia has stopped production in France as a result of low volume demand for itaconic acid in the region.     
 
The global itaconic acid market is highly concentrated in nature. Some manufacturers such as Itaconix Corporation and Chengdu Jinkai Biology Engineering Co., Ltd. exhibit a high degree of integration in the second and third stage of the value chain. Key players in the itaconic acid market include Jinan Huaming Biological Technology Co., Ltd., Zhejiang Guoguang Biochemistry Co., Ltd., Itaconix Corporation, Shandong Kaison Biochemical Co., Ltd., and Qingdao Langyatai (Group) Co., Ltd. among others.
 
itaconic-acid-market
 
     
    Chapter 1 Preface
    1.1 Report Description
    1.2 Market Segmentation
    1.3 Research Scope and Assumptions
    1.4 Research Methodology
     
    Chapter 2 Executive Summary
    2.1 Global Itaconic Acid Market, 2014 – 2023 (Tons) (US$ Mn)
    2.1.1 Global Itaconic Acid Market Snapshot, 2014 & 2023
     
    Chapter 3 Itaconic Acid – Industry Analysis
    3.1 Introduction
    3.2 Value Chain Analysis
    3.3 Market Drivers
    3.3.1 Increasing application of superabsorbent polymers (SAP) in several end-user industries to drive the itaconic acid market
    3.3.1.1 Global Superabsorbent Polymer (SAP) Market, 2014 – 2023 (Kilo Tons)(US$ Mn)
    3.3.2 Increasing demand for unsaturated polyester resins (UPR) to boost market growth
    3.3.2.1 Global Maleic Anhydride Demand Share by Applications, 2014
    3.3.3 Rising usage of itaconic acid in production of bio-based methyl methacrylate (MMA) to bolster market
    3.3.3.1 Global Poly Methyl Methacrylate Demand Share by End-users, 2014
    3.4 Market Restraints
    3.4.1 Limited exploration of technology   leads to high cost of production, thus impeding market growth
    3.4.2 Narrow potential of itaconic acid as drop-in replacement in application industries hampers market growth
    3.4.2.1 Potential Application of Itaconic Acid and their Derivatives
    3.5 Market Opportunities
    3.5.1 High growth opportunities for itaconic acid manufacturers in coatings and adhesives application
    3.5.1.1 Global Adhesives Market, 2014 – 2023 (US$ Mn)
    3.6 Porter’s Five Forces Analysis
    3.6.1 Bargaining power of suppliers
    3.6.2 Bargaining power of buyers
    3.6.3 Threat of new entrants
    3.6.4 Threat of substitutes
    3.6.5 Degree of competition
    3.7 Itaconic Acid: Market Attractiveness Analysis, by Applications
    3.7.1 Itaconic Acid: Market Attractiveness Analysis, by Applications
    3.8 Itaconic Acid Market: Company Market Share Analysis, 2014
     
    Chapter 4 Manufacturing Process and Price Trend Analysis
    4.1 Manufacturing Process
    4.2 Price Trend Analysis
    4.2.1 Price Trend Analysis, 2014 – 2023
    4.2.1.1 Itaconic Acid Price Trend Analysis, 2014 – 2023 (US$/Tons)
     
    Chapter 5 Itaconic Acid Market – Application Segment Analysis
    5.1 Global Itaconic Acid Market: Application Segment Overview
    5.1.1 Global Itaconic Acid Market Volume Share, by Application Segment, 2014 and 2023
    5.2 Synthetic Latex
    5.2.1.1 Global Itaconic Acid Market for Synthetic latex, 2014 – 2023 (Tons) (US$ Mn)
    5.3 Unsaturated Polyester Resin (UPR)
    5.3.1.1 Global Itaconic Acid Market for Unsaturated Polyster Resin, 2014 – 2023 (Tons) (US$ Mn)
    5.4 Detergents
    5.4.1.1 Global Itaconic Acid Market for Detergents, 2014 – 2023 (Tons) (US$ Mn)
    5.5 Superabsorbent Polymers (SAP)
    5.5.1.1 Global Itaconic Acid Market for Superabsorbent Polymers (SAP), 2014 – 2023 (Tons) (US$ Mn)
    5.6 Others
    5.6.1.1 Global Itaconic Acid Market for Others, 2014 – 2023 (Tons) (US$ Mn)
     
    Chapter 6 Itaconic Acid Market – Regional Segment Analysis
    6.1 Global Itaconic Acid Market: Regional Segment Overview
    6.1.1 Global Itaconic Acid Market Volume Share By Region, 2014 And 2023
    6.2 North America
    6.2.1 North America Itaconic Acid Market Volume, by Application Segment, 2014 - 2023 (Tons)
    6.2.2 North America Itaconic Acid Market Revenue, by Application Segment, 2014 - 2023 (US$ Mn)
    6.2.3 U.S.
    6.2.3.1 U.S. Itaconic Acid Market Volume, by Application Segment, 2014 - 2023 (Tons)
    6.2.3.2 U.S. Itaconic Acid Market Revenue, by Application Segment, 2014 - 2023 (US$ Mn)
    6.2.4 Rest of North America
    6.2.4.1 Rest of North America Itaconic Acid Market Volume, by Application Segment, 2014 - 2023 (Tons)
    6.2.4.2 Rest of North America Itaconic Acid Market Revenue, by Application Segment, 2014 - 2023 (US$ Mn)
    6.3 Europe
    6.3.1 Europe Itaconic Acid Market Volume, by Application Segment, 2014 - 2023 (Tons)
    6.3.2 Europe Itaconic Acid Market Revenue, by Application Segment, 2014 - 2023 (US$ Mn)
    6.3.3 France
    6.3.3.1 France Itaconic Acid Market Volume, by Application Segment, 2014 - 2023 (Tons)
    6.3.3.2 France Itaconic Acid Market Revenue, by Application Segment, 2014 - 2023 (US$ Mn)
    6.3.4 U.K.
    6.3.4.1 U.K. Itaconic Acid Market Volume, by Application Segment, 2014 - 2023 (Tons)
    6.3.4.2 U.K. Itaconic Acid Market Revenue, by Application Segment, 2014 - 2023 (US$ Mn)
    6.3.5 Spain
    6.3.5.1 Spain Itaconic Acid Market Volume, by Application Segment, 2014 - 2023 (Tons)
    6.3.5.2 Spain Itaconic Acid Market Revenue, by Application Segment, 2014 - 2023 (US$ Mn)
    6.3.6 Germany
    6.3.6.1 Germany Itaconic Acid Market Volume, by Application Segment, 2014 - 2023 (Tons)
    6.3.6.2 Germany Itaconic Acid Market Revenue, by Application Segment, 2014 - 2023 (US$ Mn)
    6.3.7 Italy
    6.3.7.1 Italy Itaconic Acid Market Volume, by Application Segment, 2014 - 2023 (Tons)
    6.3.7.2 Italy Itaconic Acid Market Revenue, by Application Segment, 2014 - 2023 (US$ Mn)
    6.3.8 Rest of Europe
    6.3.8.1 Rest of Europe Itaconic Acid Market Volume, by Application Segment, 2014 - 2023 (Tons)
    6.3.8.2 Rest of Europe Itaconic Acid Market Revenue, by Application Segment, 2014 - 2023 (US$ Mn)
    6.4 Asia Pacific
    6.4.1 Asia Pacific Itaconic Acid Market Volume, by Application Segment, 2014 - 2023 (Tons)
    6.4.2 Asia Pacific Itaconic Acid Market Revenue, by Application Segment, 2014 - 2023 (US$ Mn)
    6.4.3 China
    6.4.3.1 China Itaconic Acid Market Volume, by Application Segment, 2014 - 2023 (Tons)
    6.4.3.2 China Itaconic Acid Market Revenue, by Application Segment, 2014 - 2023 (US$ Mn)
    6.4.4 Japan
    6.4.4.1 Japan Itaconic Acid Market Volume, by Application Segment, 2014 - 2023 (Tons)
    6.4.4.2 Japan Itaconic Acid Market Revenue, by Application Segment, 2014 - 2023 (US$ Mn)
    6.4.5 ASEAN
    6.4.5.1 ASEAN Itaconic Acid Market Volume, by Application Segment, 2014 - 2023 (Tons)
    6.4.5.2 ASEAN Itaconic Acid Market Revenue, by Application Segment, 2014 - 2023 (US$ Mn)
    6.4.6 Rest of Asia Pacific
    6.4.6.1 Rest of Asia Pacific Itaconic Acid Market Volume, by Application Segment, 2014 - 2023 (Tons)
    6.4.6.2 Rest of Asia Pacific Itaconic Acid Market Revenue, by Application Segment, 2014 - 2023 (US$ Mn)
    6.5 Latin America
    6.5.1 Latin America Itaconic Acid Market Volume, by Application Segment, 2014 - 2023 (Tons)
    6.5.2 Latin America Itaconic Acid Market Revenue, by Application Segment, 2014 - 2023 (US$ Mn)
    6.5.3 Brazil
    6.5.3.1 Brazil Itaconic Acid Market Volume, by Application Segment, 2014 - 2023 (Tons)
    6.5.3.2 Brazil Itaconic Acid Market Revenue, by Application Segment, 2014 - 2023 (US$ Mn)
    6.5.4 Rest of Latin America
    6.5.4.1 Rest of Latin America Itaconic Acid Market Volume, by Application Segment, 2014 - 2023 (Tons)
    6.5.4.2 Rest of Latin America Itaconic Acid Market Revenue, by Application Segment, 2014 - 2023 (US$ Mn)
    6.6 Middle East and Africa
    6.6.1 Middle East and Africa Itaconic Acid Market Volume, by Application Segment, 2014 - 2023 (Tons)
    6.6.2 Middle East and Africa Itaconic Acid Market Revenue, by Application Segment, 2014 - 2023 (US$ Mn)
    6.6.3 GCC
    6.6.3.1 GCC Itaconic Acid Market Volume, by Application Segment, 2014 - 2023 (Tons)
    6.6.3.2 GCC Itaconic Acid Market Revenue, by Application Segment, 2014 - 2023 (US$ Mn)
    6.6.4 South Africa
    6.6.4.1 South Africa Itaconic Acid Market Volume, by Application Segment, 2014 - 2023 (Tons)
    6.6.4.2 South Africa Itaconic Acid Market Revenue, by Application Segment, 2014 - 2023 (US$ Mn)
    6.6.5 Rest of Middle East and Africa
    6.6.5.1 Rest of Middle East and Africa Itaconic Acid Market Volume, by Application Segment, 2014 - 2023 (Tons)
    6.6.5.2 Rest of Middle East and Africa Itaconic Acid Market Revenue, by Application Segment, 2014 - 2023 (US$ Mn)
     
    Chapter 7 Company Profiles
    7.1 Itaconix  Corporation
    7.2 Chengdu Jinkai Biology Engineering Co., Ltd.
    7.3 Shandong Qingdao Langyatai (Group) Co., Ltd.
    7.4 Nanjing Huajin Biologicals Co., Ltd.
    7.5 Ronas Chemicals Ind. Co., Ltd.
    7.6 Shandong Kaison Biochemical Co., Ltd.
    7.7 Spectrum Chemical Manufacturing Corp.
    7.8 Zhejiang Guoguang Biochemistry Co., Ltd.
    7.9 Alpha Chemika
     
    Chapter 8 Primary Research – Key Findings
    List of Tables
     
    TABLE 1 Global Itaconic Acid Market Snapshot, 2014 & 2023 
    TABLE 2 Drivers for Itaconic Acid Market - Impact Analysis 
    TABLE 3 Restraints for Itaconic Acid Market - Impact Analysis 
    TABLE 4 Potential Application of Itaconic Acid and their Derivatives 
    TABLE 5 Itaconic Acid Price Trend Analysis, 2014 – 2023 (US$/Tons) 
    TABLE 1 North America Itaconic Acid Market Volume, by Application Segment, 2014 - 2023 (Tons) 
    TABLE 2 North America Itaconic Acid Market Revenue, by Application Segment, 2014 - 2023 (US$ Mn) 
    TABLE 3 U.S. Itaconic Acid Market Volume, by Application Segment, 2014 - 2023 (Tons) 
    TABLE 4 U.S. Itaconic Acid Market Revenue, by Application Segment, 2014 - 2023 (US$ Mn) 
    TABLE 5 Rest of North America Itaconic Acid Market Volume, by Application Segment, 2014 - 2023 (Tons) 
    TABLE 6 Rest of North America Itaconic Acid Market Revenue, by Application Segment, 2014 - 2023 (US$ Mn) 
    TABLE 7 Europe Itaconic Acid Market Volume, by Application Segment, 2014 - 2023 (Tons) 
    TABLE 8 Europe Itaconic Acid Market Revenue, by Application Segment, 2014 - 2023 (US$ Mn) 
    TABLE 9 France Itaconic Acid Market Volume, by Application Segment, 2014 - 2023 (Tons) 
    TABLE 10 France Itaconic Acid Market Revenue, by Application Segment, 2014 - 2023 (US$ Mn) 
    TABLE 11 U.K. Itaconic Acid Market Volume, by Application Segment, 2014 - 2023 (Tons) 
    TABLE 12 U.K. Itaconic Acid Market Revenue, by Application Segment, 2014 - 2023 (US$ Mn) 
    TABLE 13 Spain Itaconic Acid Market Volume, by Application Segment, 2014 - 2023 (Tons) 
    TABLE 14 Spain Itaconic Acid Market Revenue, by Application Segment, 2014 - 2023 (US$ Mn) 
    TABLE 15 Germany Itaconic Acid Market Volume, by Application Segment, 2014 - 2023 (Tons) 
    TABLE 16 Germany Itaconic Acid Market Revenue, by Application Segment, 2014 - 2023 (US$ Mn) 
    TABLE 17 Italy Itaconic Acid Market Volume, by Application Segment, 2014 - 2023 (Tons) 
    TABLE 18 Italy Itaconic Acid Market Revenue, by Application Segment, 2014 - 2023 (US$ Mn) 
    TABLE 19 Rest of Europe Itaconic Acid Market Volume, by Application Segment, 2014 - 2023 (Tons) 
    TABLE 20 Rest of Europe Itaconic Acid Market Revenue, by Application Segment, 2014 - 2023 (US$ Mn) 
    TABLE 21 Asia Pacific Itaconic Acid Market Volume, by Application Segment, 2014 - 2023 (Tons) 
    TABLE 22 Asia Pacific Itaconic Acid Market Revenue, by Application Segment, 2014 - 2023 (US$ Mn) 
    TABLE 23 China Itaconic Acid Market Volume, by Application Segment, 2014 - 2023 (Tons) 
    TABLE 24 China Itaconic Acid Market Revenue, by Application Segment, 2014 - 2023 (US$ Mn) 
    TABLE 25 Japan Itaconic Acid Market Volume, by Application Segment, 2014 - 2023 (Tons) 
    TABLE 26 Japan Itaconic Acid Market Revenue, by Application Segment, 2014 - 2023 (US$ Mn) 
    TABLE 27 ASEAN Itaconic Acid Market Volume, by Application Segment, 2014 - 2023 (Tons) 
    TABLE 28 ASEAN Itaconic Acid Market Revenue, by Application Segment, 2014 - 2023 (US$ Mn) 
    TABLE 29 Rest of Asia Pacific Itaconic Acid Market Volume, by Application Segment, 2014 - 2023 (Tons) 
    TABLE 30 Rest of Asia Pacific Itaconic Acid Market Revenue, by Application Segment, 2014 - 2023 (US$ Mn) 
    TABLE 31 Latin America Itaconic Acid Market Volume, by Application Segment, 2014 - 2023 (Tons) 
    TABLE 32 Latin America Itaconic Acid Market Revenue, by Application Segment, 2014 - 2023 (US$ Mn) 
    TABLE 33 Brazil Itaconic Acid Market Volume, by Application Segment, 2014 - 2023 (Tons) 
    TABLE 34 Brazil Itaconic Acid Market Revenue, by Application Segment, 2014 - 2023 (US$ Mn) 
    TABLE 35 Rest of Latin America Itaconic Acid Market Volume, by Application Segment, 2014 - 2023 (Tons) 
    TABLE 36 Rest of Latin America Itaconic Acid Market Revenue, by Application Segment, 2014 - 2023 (US$ Mn) 
    TABLE 37 Middle East and Africa Itaconic Acid Market Volume, by Application Segment, 2014 - 2023 (Tons) 
    TABLE 38 Middle East and Africa Itaconic Acid Market Revenue, by Application Segment, 2014 - 2023 (US$ Mn) 
    TABLE 39 GCC Itaconic Acid Market Volume, by Application Segment, 2014 - 2023 (Tons) 
    TABLE 40 GCC Itaconic Acid Market Revenue, by Application Segment, 2014 - 2023 (US$ Mn) 
    TABLE 41 South Africa Itaconic Acid Market Volume, by Application Segment, 2014 - 2023 (Tons) 
    TABLE 42 South Africa Itaconic Acid Market Revenue, by Application Segment, 2014 - 2023 (US$ Mn) 
    TABLE 43 Rest of Middle East and Africa Itaconic Acid Market Volume, by Application Segment, 2014 - 2023 (Tons) 
    TABLE 44 Rest of Middle East and Africa Itaconic Acid Market Revenue, by Application Segment, 2014 - 2023 (US$ Mn) 

    List of Figures

     

    FIG. 1 Global Itaconic Acid Market Segmentation, by Application and Geography                     

    FIG. 2 Global  Itaconic Acid Market, 2014 – 2023 (Tons) (US$ Mn)                                              

    FIG. 3 Value Chain Analysis: Itaconic Acid Market                                                                         

    FIG. 4 Global Superabsorbent Polymer (SAP) Market, 2014 – 2023 (Kilo Tons) (US$ Mn) 

    FIG. 5 Global Maleic Anhydride Demand Share by Applications, 2014

    FIG. 6 Global Poly Methyl Methacrylate Demand Share by End-users, 2014

    FIG. 7 Global Adhesives Market, 2014 – 2023 (US$ Mn) 

    FIG. 8 Porter’s Five Forces Analysis: Itaconic Acid Market

    FIG. 9 Itaconic Acid: Market Attractiveness Analysis, by Applications

    FIG. 10 Itaconic Acid Market: Company Market Share Analysis, 2014

    FIG. 11 Global Itaconic Acid Market Volume Share, by Application Segment, 2014 and 2023

    FIG. 12 Global Itaconic Acid Market for Synthetic latex, 2014 – 2023 (Tons) (US$ Mn) 

    FIG. 13 Global Itaconic Acid Market for Unsaturated Polyster Resin, 2014 – 2023 (Tons) (US$ Mn) 

    FIG. 14 Global Itaconic Acid Market for Detergents, 2014 – 2023 (Tons) (US$ Mn) 

    FIG. 15 Global Itaconic Acid Market for Superabsorbent Polymers (SAP), 2014 – 2023 (Tons) (US$ Mn) 

    FIG. 16 Global Itaconic Acid Market for Others, 2014 – 2023 (Tons) (US$ Mn) 

    FIG. 17 Global Itaconic Acid Volume Share, by Region, 2014 and 2023

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Itaconic Acid Market

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