Itaconic Acid Market Size & Share 2016 - 2024
Market Size by Application (Synthetic Latex, Superabsorbent Polymers, Chelant Dispersant Agents, Unsaturated Polyester Resins, Methyl Methacrylate, Detergent Builders), Downstream Derivatives (Polyitaconic Acid, Unsaturated Esters, 2-methyl-1, 4-BDO, 3-methyl-THF), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trend, & Forecast.
Report ID: GMI782
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Published Date: September 2016
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Report Format: PDF
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Authors:
Kiran Pulidindi, Kunal Ahuja
Itaconic Acid Market Size
Itaconic Acid Market size was over USD 75 million in 2015, with expected gains at over 16.8% CAGR from 2016 to 2024.
Growing concerns over shrinking fossil fuel resources, innovation & developments are being made to produce chemicals from biomass feedstock. Readily biodegradability in soil and non-toxicity are key factor driving itaconic acid market growth.
Strong application scope in methyl methacrylate (MMA) production in order to replace petrochemicals may fuel itaconic acid demand. Rising trends towards more environment sustainable products has encouraged the industry manufacturers to adopt biotechnological routes to produce Polymethyl methacrylate (PMMA). Global PMMA market is estimated to surpass USD 10 billion by 2024 which is likely to encourage industry growth.
Mitsubishi Rayon and its subsidiary Lucite International are working on multiple approaches to produce bio-MMA. Lucite has already patented MMA production routes from Itaconic acid and plans to commercialize production and use by the end of 2016. However, there are multiple routes under development and are competitive. For instance, Evonik is also working on two processes which includes multi-catalytic process and metabolic routes. The industry is still at controversial stage which route will win the battle which is largely influenced by production cost.
Price drop to make the production feasible and economical enough to replace acetone cyanohydrin in MMA will drive industry demand. Itaconic acid currently has a small market with limited industrial applications.
This promising chemical compound blocks providing potential platform for coatings, polymers, biofuels, and other chemical compounds production. Unique properties such as high densities cell growth, robustness, stability, and easy to genetically are major influencing factors which may fuel product demand in several industrial applications including pharmaceuticals, light industry and agriculture.
Superabsorbent polymers are recognized as potential segment owing to its ability to replace acrylic acid and to use polyitaconic acid through polymerization. Itaconix, the U.S. based company is focusing to adopt this biotechnological route. However, several companies including Arkema, Cargill, and Novozymes are working on bio-based acrylic acid which may affect the industry growth.
Fluctuation in raw material supply such as sugar, glucose, and corn starch may impact itaconic acid market price trend. The addressable market relies on production cost for applications in which the chemical can be used as replacement. Other major chemicals which can be substituted includes sodium tripolyphosphate (in phosphate-free detergent builders’ production) and maleic anhydride (in UPR production).
Itaconic Acid Market Analysis
Synthetic latex accounted for over 50% of the global itaconic acid market size, mainly employed in synthetic latex for polymer stabilization and is used in order to improve the final product quality i.e. SBR latex. As per industry estimates, the application expects stagnant growth. However, significant change would occur if a novel product enters the market.
Strong PMMA market growth forecast is likely to fuel itaconic acid demand in the production of MMA. The industry expects the segment to surpass USD 80 million valuation by 2024. The MMA demand is largely driven by new applications such as LCD screens, mobile phone screens, monitors, and video equipment. China remains to be great potential for the MMA.
Unsaturated polyester resins (UPR) which is mainly consumed in marine, construction, and transportation industries is foreseen to be an attractive potential application. Itaconic acid is a potential green chemical to substitute maleic anhydride in UPR production owing to its similar structure and has potential to be a good substitute.
China itaconic acid market size is projected to surpass USD 20 million valuation by 2024. APAC is the major producer as well as consumer for itaconic acid market and caters to over 50% of the global demand.
Germany itaconic acid market size was 2.8 million in 2015. Favorable government norms to promote bio based production owing to environment safety may drive regional industry growth. EU regulations to stop sodium tripolyphosphate (STPP) based detergents production should drive industry growth in detergent agents.
Personal care industry expansion accompanied by rising preference for bio-based products in South Africa, Saudi Arabia, and UAE may stimulate MEA demand.
Itaconic Acid Market Share
Global itaconic acid market share is moderately fragmented in nature owing to the presence of many domestic manufacturers in APAC. The industrial production is highly concentrated in China with major market players includes:
Innovations and development to target addressable market are key strategies.
Research methodology, data sources & validation process
This report draws on a structured research process built around direct industry conversations, proprietary modelling, and rigorous cross-validation and not just desk research.
Our 6-step research process
1. Research design & analyst oversight
At GMI, our research methodology is built on a foundation of human expertise, rigorous validation, and complete transparency. Every insight, trend analysis, and forecast in our reports is developed by experienced analysts who understand the nuances of your market.
Our approach integrates extensive primary research through direct engagement with industry participants and experts, complemented by comprehensive secondary research from verified global sources. We apply quantified impact analysis to deliver dependable forecasts, while maintaining complete traceability from original data sources to final insights.
2. Primary research
Primary research forms the backbone of our methodology, contributing nearly 80% to overall insights. It involves direct engagement with industry participants to ensure accuracy and depth in analysis. Our structured interview program covers regional and global markets, with inputs from C-suite executives, directors, and subject matter experts. These interactions provide strategic, operational, and technical perspectives, enabling well-rounded insights and reliable market forecasts.
3. Data mining & market analysis
Data mining is a key part of our research process, contributing nearly 20% to the overall methodology. It involves analysing market structure, identifying industry trends, and assessing macroeconomic factors through revenue share analysis of major players. Relevant data is collected from both paid and unpaid sources to build a reliable database. This information is then integrated to support primary research and market sizing, with validation from key stakeholders such as distributors, manufacturers, and associations.
4. Market sizing
Our market sizing is built on a bottom-up approach, starting with company revenue data gathered directly through primary interviews, alongside production volume figures from manufacturers and installation or deployment statistics. These inputs are then pieced together across regional markets to arrive at a global estimate that stays grounded in actual industry activity.
5. Forecast model & key assumptions
Every forecast includes explicit documentation of:
✓ Key growth drivers and their assumed impact
✓ Restraining factors and mitigation scenarios
✓ Regulatory assumptions and policy change risk
✓ Technology adoption curve parameter
✓ Macroeconomic assumptions (GDP growth, inflation, currency)
✓ Competitive dynamics and market entry/exit expectations
6. Validation & quality assurance
The final stages involve human validation, where domain experts manually review filtered data to identify nuances and contextual errors that automated systems might miss. This expert review adds a critical layer of quality assurance, ensuring data aligns with research objectives and domain-specific standards.
Our triple-layer validation process ensures maximum data reliability:
✓ Statistical Validation
✓ Expert Validation
✓ Market Reality Check
Trust & credibility
Verified data sources
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Industry databases
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Regulatory filings
Government procurement records and policy documents
Academic research
University studies and specialist institution reports
Company reports
Annual reports, investor presentations, and filings
Expert interviews
C-suite, procurement leads, and technical specialists
GMI archive
13,000+ published studies across 30+ industry verticals
Trade data
Import/export volumes, HS codes, and customs records
Parameters studied & evaluated
Every data point in this report is validated through primary interviews, true bottom-up modelling, and rigorous cross-checks. Read about our research process →