Hexa Research
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likely to grow at moderate rates of 5.8% up to 2020. Growth in UPR consumption for
automobile production particularly in Asia economies of Indonesia, Thailand, India and
China is anticipated to drive the market growth.
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Key report insights suggest:
- Global fumaric acid market size was estimated at 233.3 kilo tons in 2013 and is expected
to register 346.2 kilo tons by 2020 growing with an estimated CAGR of 5.9% from 2014 to
2020.
- Asia Pacific dominated the regional market with a share of 61.5% in 2013 and is expected
grow at higher growth rates up to 2020. Increasing per-capita disposable income and
preference of convenience food owing to hectic lifestyle is expected to drive the regional
demand.
- North America was the second largest regional market and is likely to witness growth
rates estimated at 4.1% from 2014 to 2020. Growing popularity of sports drink particularly
in U.S. is expected to drive regional demand. European market is likely to cross USD 80
million by 2020 owing to preference of convenience food consumption.
- Moderately consolidated fumaric acid market consists of MNCs and domestic companies.
These companies include Polynt, Prinova, Fuso Chemicals and Bartek Ingredients. Other
prominent companies include Dastech International Inc, Thirumalai Chemicals, U.S.
Chemicals LLC and Nippon Shokbai.
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