Agreements and Acquisitions are the Key Strategies Adopted by the Leading Players in the Itaconic Acid Market
The use of itaconic acid has become crucial in various applications, such as SBR latex, as itaconic acid exhibits high adhesive strength, improved tensile strength, and moisture resistance. The itaconic acid market is projected to reach USD 102.3 Million by 2022, at a CAGR of 4.1% from 2017 to 2022.
Agreements and acquisition have been the key developmental strategies adopted by the leading players operating in the itaconic acid market between 2011 and 2017. These strategies have been adopted by these companies to enhance their product portfolios, and strengthen their presence in developed as well as emerging economies.
Agreements and acquisition accounted for shares of 67% and 33%, respectively, of the overall growth strategies adopted by the leading players between 2011 and 2017. These market players concentrated mainly on consolidations by adopting these strategies to increase their market shares and enhance their sustainability.
Major players profiled in this report include 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).
Itaconix Corporation is a major company operating in the itaconic acid market that has adopted the maximum number of growth strategies between 2011 and 2017. Itaconix is one of the major manufacturers of itaconic acid for use in different applications, such as chillant dispersant agents, superabsorbent polymers, and latex, among others. The company accounted for the largest share of all the developmental activities that took place in the itaconic acid market between 2011 and 2017. The company adopts dynamic growth strategies, especially acquisitions and agreements to strengthen its product portfolio and geographical presence. For example, in January 2017, Itaconix entered into a joint marketing agreement with Croda Inc. (UK). As per the agreement, Revolymer produces different grades of ItaconiX Zinador, and Croda will market and sell ZINADOR in the household, municipal, animal, and industrial applications. Such an approach by the company has helped them to increase their revenue and market share in the European itaconic acid market.
Qingdao Langyatai is a major company in China involved in the wine & liquor, health industry, marine life, organic feed, and in real estate industries. The company offers itaconic acid through its subsidiary, Qingdao Kehai Biochemistry Co., Ltd. The itaconic acid manufactured by the company is exported to countries in North America and Europe, among others. The company has the largest global itaconic acid production capacity.
Related Reports:
Itaconic Acid Market by Derivative (Styrene Butadiene, Methyl Methacrylate, Polyitaconic Acid), Application (SBR Latex, Synthetic Latex, Chillant Dispersant Agent, Superabsorbent Polymer), and Region - Global Forecast to 2022
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