The global consumption of glutaric acid is projected to reach an estimated value of US$ 5.3 billion in 2022, and it is expected to experience steady growth with a compound annual growth rate (CAGR) of 5%, ultimately reaching US$ 8.63 billion by 2032. This upward trajectory is attributed to the growing demand for glutaric acid across diverse sectors, including healthcare, personal care, cosmetics, and other industries, which are continually expanding their applications for this versatile compound.
Glutaric acid is an organic compound and an alpha, omega-dicarboxylic acid. Glutaric Acid is a type of linear dicarboxylic acid, related to compounds such as succinic acid and adipic acid. Glutaric Acid is also known as Pentanedioic acid. The chemical formula for Glutaric acid is C3H6(COOH)2. Glutaric acid commonly appears in the form of colourless crystals. The molecular weight of Glutaric acid is 132.115 g/mol, while the boiling point of Glutaric acid is 579 ° F. Glutaric acid is partially soluble in water, and forms a moderately strong acid in water.
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Key Factors Driving the Glutaric Acid Market:
- Growing Demand in the Plasticizer Industry: One of the primary applications of glutaric acid is in the production of plasticizers, which are essential in the manufacturing of PVC (polyvinyl chloride) products. The expanding construction and automotive sectors are driving the demand for PVC materials, consequently boosting the demand for glutaric acid.
- Expanding Pharmaceutical Industry: Glutaric acid finds applications in the pharmaceutical industry, primarily in the synthesis of drugs, such as anti-convulsant and anti-parkinsonian medications. As the global population continues to age, the pharmaceutical sector is expected to grow, creating new opportunities for glutaric acid manufacturers.
- Increasing Use in Specialty Polymers: Glutaric acid is used in the production of specialty polymers and resins, which are used in various industries, including adhesives, coatings, and electronic components. The growing demand for these specialty materials in industries like electronics, aerospace, and automotive is propelling the market for glutaric acid.
Top Key Players in the Glutaric Acid Industry
- 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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