Pune, India, July 26,2019- Itaconic Acid Market is projected to grow from USD 80.8 Million in 2016 to USD 102.3 Million by 2022, at a CAGR of 4.1% from 2017 to 2022. Itaconic acid is increasingly being used in the SBR latex application, as it offers improved bond & tensile strength, good adhesion, resistance to moisture, etc.
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Styrene butadiene itaconic acid is the first level derivative, which possesses superior characteristics, including improved bond & tensile strength, reduction in the use of expensive coating color additive, good adhesion, etc. It is used in the production of SBR latex, as itaconic acid exhibits various properties, making it one of the preferred products. China and Japan are some of the major paper producing economies utilizing large volumes of coating materials in the paper industry. APAC and Europe are the major consumers of the styrene butadiene itaconic acid derivative in the latex application.
SBR latex, synthetic latex, chillant dispersant agent, and superabsorbent polymers are the major consumers of itaconic acid across the globe. The superabsorbent polymers application segment of the Itaconic Acid Market is projected to grow at the highest CAGR between 2017 and 2022. With the increase in the standard of living, the demand for better quality products is expected to increase substantially. The rise in the demand for cosmetics and skincare, personal care, and hygiene products is anticipated to drive the demand for itaconic acid in the superabsorbent polymers application between 2017 and 2022.
Itaconix Corporation (UK), Qingdao Langyatai (China), Zhejiang Guoguang (China), Alpha Chemika (India), Shandong Kaison (China), Jinan Huaming (China), Iwata Chemical (Japan), Aekyung Petrochemical (South Korea), Ronas Chemical (China), and Chengdu Jinkai (China) are some of the leading players operating in the itaconic acid market. These players have been adopting various organic and inorganic growth strategies such as agreements, acquisitions, joint ventures, and expansions to enhance their market shares in the itaconic acid market.
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