Albany, NY, May 14, 2015 (GLOBE NEWSWIRE) -- Transparency Market Research has published a new report titled "Tartaric Acid Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2022." According to the report, the global tartaric acid market was valued at US$ 1.85 Bn in 2013 and is expected to reach US$ 3.16 Bn by 2022, expanding at a CAGR of 6.2% during the forecast period between 2014 and 2022. In terms of volume, the global tartaric acid market stood at 80.2 kilo tons in 2013.
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The global tartaric acid market is projected to be driven by rising global consumption of wine. Due to growing disposable income, especially in Asia Pacific, the spending on luxury items such as wine has increased. This, in turn, is anticipated to drive the demand for tartaric acid. Additionally, the global pharmaceutical market is growing, which, in turn, is driving demand for organic excipients such as tartaric acid. However, seasonality of raw material supply for natural tartaric acid and restricted use of synthetic tartaric acid in the wine, food & beverages, and pharmaceuticals industries is likely to hamper growth of the tartaric market during the forecast period. Vigorous construction activities in the GCC region are projected to offer growth prospects for the tartaric acid market.
The food & beverages industry was the dominant end-user industry with more than 25% share in terms of volume in 2013. Wine industry emerged as another key end-user for tartaric acid during the forecast period. However, the pharmaceutical industry is expected to be the fastest growing end-user segment for tartaric acid during the forecast period. The construction industry emerged as the major end-user of tartaric acid in Europe and the Middle East in 2013.
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Tartaric acid is used as organic excipients in the pharmaceutical industry. It helps adjust the pH and facilitate drug delivery of the weakly acidic active ingredients to the target organs. The food & beverages industry uses tartaric acid as acidulants, anti-microbial agents, pH-control, anti-caking agents, and flavorants. Baked items, processed food, and fruit juices are major applications for tartaric acid in the food & beverages industry. The wine industry is the most popular application area for tartaric acid. Most wine producers have their own captive supply of natural tartaric acid produced from lees. The construction industry utilizes tartaric acid in cement mixtures as anti-setting agent to delay the hardening of cement. Tartaric acid is also used as anti-caking agent for gypsum production in the construction industry. Other end-users for tartaric acid include leather tanning, metal finishing, and chemicals industries.
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The global tartaric acid market is fragmented with few global players and many smaller domestic players. Caviro Distillerie S.R.L., Tarcol S.A., American Tartaric Products Inc., Distillerie Mazzari S.p.A., Derivados Vinicos S.A., and Changmao Biochemical Engineering Company Ltd. are some of the leading global tartaric acid market players.
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The report segments the global tartaric acid market as:
Tartaric Acid Market - End-user Analysis
- Food & beverages
- Others (Including chemical, leather tanning, metal finishing, etc.)
Tartaric Acid Market - Regional Analysis
- North America
- Asia Pacific
- Latin America
- Middle East and Africa (MEA)
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Transparency Market Research (TMR) is a U.S. based provider of syndicated research, customized research, and consulting services. TMR's global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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Source:Transparency Market Research