Itaconic Acid (IA)
The global market for Itaconic Acid (IA) is projected to exceed US$133 million by 2024, driven by the shift from petrochemicals to renewable chemical feedstocks in the production of bio-based materials. IA represents an ideal and promising bio-based platform chemical suitable for the production of a wide range of chemicals, polymers and coatings. Emerging new applications in detergent builders, unsaturated polyester resins and methyl methacrylate (MMA) production will continue to expand the addressable market for IA in the coming years. Depleting fossil fuel reserves, growing concerns over global warming and the ensuing frantic search for renewable chemicals will spur consumption of IA in the production of polymers, latex, chelates and other chemicals-derived materials. Other equally important factors driving growth include increasing demand for absorbent hygiene products such as diapers, sanitary pads and the resulting increasing consumption of IA in the synthesis of super-absorbent polymers (SAP); growing use of synthetic rubber in the automotive industry for tires, belts, matting, flooring etc. and the resulting use of IA in upstream processing activities; growing use of poly(itaconic acid) as a substitute to sodium tripolyphosphate (STPP) in the production of surfactants; rising demand and expanding applications of unsaturated polyester resins such as vinyl ester resins, acrylic resins etc. and the ensuing use of bio-derived platform molecules including IA in the synthesis of unsaturated polyester resins; growing value of polymethyl methacrylate (PMMA) in the production of biocompatible medical implants and the parallel demand for IA as a key feedstock. Asia-Pacific represents the largest market worldwide. A healthy construction sector and preference for energy efficient buildings will offer significant opportunities for growth in the region. Also, growing development induced environmental pollution and climate change in the region places a premium on IA as a sustainable chemical with organic, biodegradable and reduced industrial waste benefits. Europe, the second largest market, is forecast to exhibit the strongest growth among the developed markets, over the analysis period.
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Company and Industry News & Stories
- AkzoNobel to Ink Joint Marketing Agreement with Itaconix in a Move to Promote the Former’s Innovative Bio-based Chelates
- Revolymer Renames itself as Itaconix PLC Subsequent to the Recent Acquisition of US-based Itaconix Corp.
- Itaconix Teams Up with Croda in a Move to Supply Polymer-based Odour Removal Additive Itaconix® ZINADOR™ 22L
- AkzoNobel Inks Joint Development Agreement with Itaconix in a Bid to Develop and Commercialize Bio-Based Polymers
- Lucite International Becomes Part of New Mitsubishi Chemical Corporation, a Company Formed with the Merger of Mitsubishi Chemical, Mitsubishi Plastics and Mitsubishi Rayon
Product Definition & Scope
- Itaconic acid (IA) is a white crystalline organic compound obtained by the fermentation of carbohydrates. The acid, which is readily biodegradable, non-toxic, and naturally occurring, is soluble in water, acetone and ethanol. Earlier, this unsaturated C5-dicarboxylic acid was formed by the distillation of citric acid. However, currently it is produced by fungal fermentation of carbohydrates, such as glucose, in presence of Aspergillus terreus. IA an a-substituted acrylic acid, is widely used as a co-monomer for producing acrylate and styrene-butadiene-acrylonitrile latexes for application in various industries such as printing chemicals, pharmaceuticals, surface active agents, emulsifiers, thickeners, paints, coatings, adhesives, carpets, paper coating, lubricant oil, and plasticizers.
Timeline for Analysis
- Market Estimates and Forecasts for 2016-2024
- Historic Review 2011-2015
Geographic Markets Analyzed
- US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe, Asia-Pacific (China, India and Rest of Asia-Pacific), Latin America (Brazil and Rest of Latin America) and Rest of World
- Itaconix Plc
- Ronas Chemicals Ind. Co., Ltd.
- Shandong Zhongshun Science & Technology Development Co., Ltd.
- Spectrum Chemical Mfg. Corp.
- Shandong Kaison Biochemical Co., Ltd.
- Qingdao Langyatai Group Co., Ltd.
- Chengdu Jinkai Biology Engineering Co., Ltd.
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