Itaconic Acid Market Forecasts to 2027; Impact of COVID-19 and a Looming Global Recession

DUBLIN, May 28, 2020 /PRNewswire/ -- The "Itaconic Acid (IA) - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

Amid the COVID-19 crisis and the looming economic recession, the Itaconic Acid (IA) market worldwide will grow by a projected US $24.3 Million, during the analysis period, driven by a revised compounded annual growth rate (CAGR) of 3%.

Itaconic Acid (IA), one of the segments analyzed and sized in this study, is forecast to grow at over 3% and reach a market size of US $129.3 Million by the end of the analysis period. An unusual period in history, the coronavirus pandemic has unleashed a series of unprecedented events affecting every industry. The Itaconic Acid (IA) market will be reset to a new normal which going forwards in a post COVID-19 era will be continuously redefined and redesigned. Staying on top of trends and accurate analysis is paramount now more than ever to manage uncertainty, change and continuously adapt to new and evolving market conditions.

As part of the new emerging geographic scenario, the United States is forecast to readjust to a 1.9% CAGR. Within Europe, the region worst hit by the pandemic, Germany will add over US $570.8 Thousand to the region's size over the next 7 to 8 years. In addition, over US $616.8 Thousand worth of projected demand in the region will come from Rest of European markets. In Japan, the Itaconic Acid (IA) segment will reach a market size of US $7.4 Million by the close of the analysis period.

Blamed for the pandemic, significant political and economic challenges confront China. Amid the growing push for decoupling and economic distancing, the changing relationship between China and the rest of the world will influence competition and opportunities in the Itaconic Acid (IA) market. Against this backdrop and the changing geopolitical, business and consumer sentiments, the world's second largest economy will grow at 6% over the next couple of years and add approximately US $8 Million in terms of addressable market opportunity.

Continuous monitoring for emerging signs of a possible new world order post-COVID-19 crisis is a must for aspiring businesses and their astute leaders seeking to find success in the now changing Itaconic Acid (IA) market landscape. All research viewpoints presented are based on validated engagements from influencers in the market, whose opinions supersede all other research methodologies.

Key Topics Covered

I. INTRODUCTION, METHODOLOGY & REPORT SCOPE

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

• Itaconic Acid: Most Promising Organic & Biodegradable Monomer with Unique Chemical Properties
• Industry Snapshots
• Recent Market Activity
• Healthy Growth Projected over the Next Few Years for IA Market
• Developing Regions Accelerate Market Growth
• Asia-Pacific Evolves as Core Regional Market
• Developed Regions Continue to Extend Opportunities
• Favorable Macro Factors Lend Traction to IA Demand
• Global Competitor Market Shares
• Itaconic Acid (IA) Competitor Market Share Scenario Worldwide (in %): 2020 & 2029
• Impact of COVID-19 and a Looming Global Recession

2. FOCUS ON SELECT PLAYERS

• Alpha Chemika (India)
• Chengdu Jinkai Biology Engineering Co. Ltd. (China)
• Itaconix PLC (UK)
• Qingdao Langyatai Group Co. Ltd. (China)
• Qingdao Kehai Biochemistry Co. Ltd. (China)
• Ronas Chemicals Ind. Co. Ltd. (China)
• Shandong Kaison Biochemical Co. Ltd. (China)
• Shandong Zhongshun Science & Technology Development Co. Ltd. (China)
• Spectrum Chemical Mfg. Corp. (USA)

3. MARKET TRENDS & DRIVERS

• Growing Image as a Potential Renewable Chemical Underpins Itaconic Acid Sales
• Itaconic Acid Production from Bio-based Feedstock - A Major Breakthrough
• Evolving Role as a Platform Chemical Augurs Well
• Itaconic Acid Market Driven by Expanding End-Use Applications
• Methyl Methacrylate (MMA): A Growing Market for IA
• Increasing Demand for SAP to Provide Significant Growth Potential
• Increasing Demand for Synthetic Rubber in Auto Industry Drives Demand
• Itaconic Acid to Widen Share in Automotive Plastics Production
• Bio-Based Thermoplastics - A Highly Potential End-Use Vertical
• Surfactants Use Poly-IA as a Substitute for STPP to Minimize Toxic Levels
• Rising Demand for Adhesives made with Eco-Friendly Materials Offers Opportunities
• IA Seeks to Leverage Paints & Coatings Industry's Thrust towards Renewable Alternatives
• Growing Environmental Concerns with Petrol-Derived Chemicals Rev Up Demand
• Stringent Guidelines Focused on Sustainable Environment Favor Market Prospects
• Focus on Development of Advanced Production Technologies Favors Future Growth
• Select R&D Announcements Made in the Recent Past
• High Cost: A Major Impediment

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

• Total Companies Profiled: 30

For more information about this report visit https://www.researchandmarkets.com/r/s1g7w1

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