The global glutaric acid market is poised for substantial growth, with an anticipated value of US$ 5.3 Billion in 2022 and a projected Compound Annual Growth Rate (CAGR) of 5% from 2022 to 2032, ultimately reaching US$ 8.63 Billion. This surge is attributed to the expanding applications of glutaric acid across diverse end-use industries, including healthcare, personal care, cosmetics, and more. The market report underscores the current momentum, emphasizing the pivotal role played by the increasing demand from various sectors in propelling the overall growth of the glutaric acid market.
Glutaric acid, a dicarboxylic acid, has gained significant attention in the global chemical industry for its diverse applications across various end-use sectors. With its versatile properties and increasing demand in key industries, the glutaric acid market is witnessing steady growth. The market for glutaric acid is driven by its applications in industries such as chemicals, pharmaceuticals, and polymers.
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Key Drivers:
- Growing Chemical Industry: The chemical industry is a major consumer of glutaric acid, utilizing it in the synthesis of various chemicals, such as adipic acid, which is a key component in the production of nylon.
- Increasing Demand in Pharmaceuticals: Glutaric acid finds applications in the pharmaceutical sector for the synthesis of certain drugs and active pharmaceutical ingredients (APIs). The pharmaceutical industry’s continuous growth contributes significantly to the demand for glutaric acid.
- Rising Awareness of Sustainable Practices: With increasing emphasis on sustainable practices, glutaric acid, derived from bio-based sources, is gaining popularity as a more environmentally friendly alternative. This trend aligns with the global shift towards greener and more sustainable chemical production.
Top Key Players
- E I du Pont de Nemours & Co
- Liaoyang Hengye Chemical Co., Ltd.
- Charkit Chemical
- Kowa India Pvt.Ltd
- The Chemical Company
- Penta International
- TCI AMERICA
- Santa Cruz Biotechnology
- Carbosynth and BOC Sciences
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Key Segments Profiled in the Glutaric Acid Industry Survey
Product Grade:
- Industrial Grade Glutaric Acid
- Reagent Grade Glutaric Acid
End Use Industry:
- Glutaric Acid for Chemicals
- Glutaric Acid for Cosmetics & Personal Care
- Glutaric Acid for Healthcare
- Glutaric Acid for Other End Use Industries
Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- CIS & Russia
- Asia Pacific
- Japan
- Middle East & Africa
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