Chemical Industry’s Preference for Renewable Feedstock Drives the Global Itaconic Acid Market
Ongoing shift towards bio-based renewable feedstocks in producing polymers, latex, chelates and other chemicals-derived materials is poised to drive the global market for Itaconic Acid to exceed US$133 million by 2024 . Itaconic Acid (IA), also known as methylene succinic acid or butanedioic acid, is gradually emerging as a new high-tech industry across the globe. With rising concerns over diminishing fossil fuel resources, efforts are being made to produce chemicals from green feedstock rather than petrochemical raw materials. IA, one of the promising bio-based platform chemicals, is immensely gaining from the prevailing trend in the chemicals industry. Leveraging its unique properties such as robustness, non-toxic nature, extreme stability and yeast-like growth even in high densities, IA extends a highly suitable bio-based monomer for a multitude of industrial applications. Although use of IA is currently restricted to few industries, ongoing thrust towards bio-based renewable...