Itaconic Acid Market projected to reach USD 166.67 million by 2032, driven by demand for bio-based chemicals
From GlobeNewswire: 2025-06-28 10:30:00
The Itaconic Acid Market was valued at USD 110.33 million in 2024 and is projected to reach USD 166.67 million by 2032, with a CAGR of 5.29% over 2025-2032. Rising demand for bio-based chemicals in key sectors is driving growth, with applications in polymers, coatings, and specialty chemicals on the rise. Companies like Itaconix are expanding production to meet demand, supported by increasing consumer focus on sustainability and regulations in the U.S. and Europe.
In the U.S., the Itaconic Acid market was valued at USD 19.75 million in 2024 and is expected to reach USD 33.61 million by 2032, growing at a CAGR of 6.87% over the forecast period. The market is witnessing steady growth driven by increasing demand for sustainable and bio-based products in various industries, including personal care, agriculture, and polymers. Supportive government policies and innovations by companies like Itaconix Corporation are enhancing production capabilities, while rising consumer preference for eco-friendly materials further propels market expansion.
Styrene Butadiene Itaconic Acid dominated the Itaconic Acid Market in 2024 with a 42% market share, thanks to its use in producing high-performance rubbers and latexes with excellent elasticity and durability. Its application in automotive tires, adhesives, and coatings is expanding, driven by environmental benefits and compatibility with sustainable processes. Companies like Synthomer and Itaconix are investing in this derivative to meet rising demand across North America and Asia Pacific.
Superabsorbent Polymers (SAPs) dominated the Itaconic Acid Market in 2024 with a 34% market share, playing a crucial role in hygiene products like diapers and adult incontinence solutions. Itaconic acid-based SAPs are gaining traction for their biodegradability and eco-safe properties. Firms like Nippon Shokubai are launching advanced SAP technologies using itaconic derivatives to meet growing demand from the personal care industry.
Asia Pacific led the Itaconic Acid Market in 2024 with a 42.56% market share, driven by rapid industrialization, strong government support for green technologies, and growing personal care sectors in countries like China, India, and Japan. Rising consumer demand for eco-friendly products in beauty and healthcare is contributing to market growth, with regional manufacturers expanding capacities to meet increasing demand locally and globally.
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