Global Glutaric Acid Market was valued at USD 0.08 Billion in 2022 and is projected to reach USD 0.14 Billion by 2030, growing at a CAGR of 7.5% from 2024 to 2030.
The Glutaric Acid market has been growing steadily over recent years, driven by the increasing demand across various industries such as pharmaceuticals, food, and chemicals. This organic compound is primarily used in the production of biodegradable plastics, surfactants, and as a building block in the synthesis of other chemicals. The market is expected to expand further due to its role in emerging technologies, particularly in the medical field for drug synthesis and as an intermediate in the production of high-value chemicals.
As a key component in the synthesis of certain polymers, glutaric acid plays a critical role in reducing the environmental footprint of plastics, which is becoming increasingly important in today's eco-conscious world. The demand for bio-based and biodegradable plastics has been on the rise, especially with the global shift towards sustainable development. This trend is pushing industries to explore more eco-friendly alternatives, creating significant opportunities in the Glutaric Acid market.
In addition to its industrial applications, glutaric acid is also gaining attention for its use in pharmaceuticals. It is used as an intermediate in the production of various drugs, including those used in the treatment of neurological disorders. With the growth of the healthcare industry, especially in emerging markets, the demand for glutaric acid in drug production is expected to increase significantly.
The market's growth is also supported by advancements in manufacturing technologies that allow for more efficient and cost-effective production of glutaric acid. Companies are investing in research to develop new, more sustainable methods of production, further bolstering the market's potential.
Overall, the Glutaric Acid market is poised for significant growth, driven by the increasing need for eco-friendly solutions, medical advancements, and chemical production. The shift towards sustainability and the growing pharmaceutical industry will continue to be major catalysts for market expansion.
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Yixing Lianyang Chemical
Liaoyang Hengye Chemical
Liaoyang Petrochemical
Ningbo Jiasi
Hubei Yuancheng Sachuang
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Glutaric Acid Market
Pharm
Chemical Industry
Others
Based on Types the Market is categorized into Below types that held the largest Glutaric Acid market share In 2023.
Medicine Grade
Industrial Grade
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Global, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Glutaric Acid Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Glutaric Acid Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Glutaric Acid Market, By Type
6. Global Glutaric Acid Market, By Application
7. Global Glutaric Acid Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Glutaric Acid Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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