The
global market for tartaric acid is fueled by the rising production of
wine in Latin America and Asia Pacific, according to a new report
published by Transparency Market Research. The report, titled
“Tartaric Acid Market - Global Industry Analysis, Size, Share,
Growth, Trends and Forecast 2014 - 2022” also states that driven by
the growing demand for excipients in the pharmaceutical sector, the
global
tartaric acid market will develop at a 6.20% CAGR from 2014 to
2022. By value, the market is estimated to rise from US$1.8 Bn in
2013 to US$3.1 Bn by 2022.
While
the growth of the construction industry in the Gulf Cooperation
Council region will push the tartaric acid market over the next seven
years, limited use of synthetic tartaric acid in Europe and
seasonality of raw materials in the production process is likely to
challenge the development of the tartaric acid market.On the basis of
end user, the tartaric acid market is segmented into food and
beverages, construction, wine, pharmaceutical, leather tanning,
chemical, and metal finishing. In 2013, the food and beverages
industry accounted for 25.0% of the overall tartaric acid market,
making it the largest end-use segment in terms of volume. Wine is the
second-largest segment of the tartaric acid market and pharmaceutical
is anticipated to register the highest growth rate from 2014 to 2022.
Geographically,
the global tartaric acid market is divided into North America, Latin
America, Europe, Asia Pacific, and the Middle East and Africa.
Accounting for a share of more than 30.0% in 2013, Europe dominates
the overall tartaric acid market in terms of volume. However, this
region is relatively mature and is anticipated to register an average
growth rate by 2022. Identified as the most rapidly growing regional
market for tartaric acid, Asia Pacific is projected to be fueled by
persistent demand in the food and beverages industry, growing
consumption of wine, and increased development in the construction
sector.
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:http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=3000
The
North America tartaric acid market is driven by strong growth in the
wine sector, recovery of the construction industry, and a booming
pharmaceutical industry. The demand for tartaric acid in Latin
America stems from the food and beverages sector, particularly wine.
The MEA region is propelled by increased demand for wine and growth
of the construction industry in the GCC region.
The
most prominent players operating in the global tartaric acid market
include Vinicas Inc., Changmao Biochemical Engineering Company Ltd.,
American Tartaric Products Inc., Giovanni Randi S.p.A., Distillerie
Mazzari S.p.A., Tarcol S.A., Derivados Vinicos S.A., and Caviro
Distillerie S.R.L. These players are profiled in detail in the
research report on the basis of aspects such as company and financial
overview, upcoming facilities, business strategies, mergers,
acquisitions, and joint ventures, capacity addition, recent
developments, and new products.
Tartaric
Acid Market, by End User
- Wine
- Food & beverages
- Pharmaceutical
- Construction
- Others (Including chemical, leather tanning, and metal finishing)
Tartaric
Acid Market, by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa (MEA)
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