Jan 16, 2018   SOURCE: BusinessWire

Global Tartaric Acid Market 2017-2022 by Source, Type and Application - A $285.6 Million Market Opportunity - ResearchAndMarkets.com

The "Tartaric Acid Market by Source, Type, Application, and Region - Global Forecast to 2022" report has been added to ResearchAndMarkets.com's offering.

The tartaric acid market is estimated to be valued at USD 215.7 Million in 2017, and is projected to reach USD 285.6 Million by 2022, at a CAGR of 5.77%.

The market driver responsible is the increase in its usage in the growing wine industry; it is also used in many other industries such as the pharmaceutical, where it is used as an ingredient, along with citric acid, to improve the taste of oral medications.

The tartaric acid market in Europe was the largest in 2016 and is expected to remain the largest during the forecast period. This is due to higher consumption levels for wine and other food items, where tartaric acid acts as one of the key ingredients. Increasing penetration of tartaric acid in European industries, for chelating agents, is also expected to fuel the already high demand for tartaric acid in the region.

The rising exports from European and North American countries owing to the demand from countries in the Asia Pacific such as India and Japan and in RoW such as Brazil and Argentina, and in the Middle Eastern countries are expected to drive the demand for tartaric acid in this region in the coming years. Additionally, the demand in the Asia Pacific and RoW countries is attributed to the rise in the food & beverage industry where tartaric acid is used as a flavor modifier in sports drinks and ready-to-drink beverages.

Growth of the construction and ceramics industries, especially in the Middle Eastern countries, also contributes toward the overall tartaric market growth. The increasing government regulations in various countries are restricting the use of synthetic tartaric acid in food- and pharmaceutical-grade applications, which in turn restrains the market growth for tartaric acid.

The tartaric acid market is dominated by various players, depending on their core competencies. The key players in this market are Caviro Group (Italy), ATP Group (US), Merck (Germany), Omkar Specialty Chemicals (India), Changmao Biochemical Engineering (China), Tarac Technologies (Australia), PAHI (Spain), Distillerie Mazzari (Italy), Distillerie Bonollo (Italy), Derivados Vinicos (Argentina), Industrias Vinicas (US), and Trtaros Gonzalo Castell (Spain). These companies adopted strategies such as rebranding, expansions, and acquisitions to strengthen their position in the market.

Market Dynamics

Drivers

  • Multiple Functionalities Across Different Industries
  • R&D and Technological Innovations
  • Growth in the Wine Industry

Restraints

  • Restricted Use of Synthetic Tartaric Acid in Various Applications

Opportunities

  • Production of Tartaric Acid Through Cost-Effective Methods
  • Less Stringent Regulations

Challenges

  • Infrastructural Challenges in Developing Countries
  • Less Availability of Raw Materials Results in Higher Production Costs

Companies Mentioned

  • ATP Group
  • Caviro Group
  • Changmao Biochemical Engineering
  • Derivados Vinicos
  • Distillerie Bonollo
  • Distillerie Mazzari
  • Industrias Vinicas
  • Merck
  • Omkar Specialty Chemicals
  • Pahi
  • Tarac Technologies
  • Trtaros Gonzalo Castell

For more information about this report visit https://www.researchandmarkets.com/research/5b5996/global_tartaric?w=4