Itaconic Acid Market to Rise owing to Increasing Demand for Unsaturated Polyester Resins

Itaconic acid is progressively developing as a new cutting-edge technology worldwide. It is defined as an unsaturated dicarbonic acid and holds huge commercial potential as a significant biochemical building block, as it can be utilized as a monomer for producing a plethora of items, such as plastics, resins, synthetic fibers, and paints.
Itaconic acid is utilized as an agent for cross-linking owing to its ability to actively participate in the additional polymerization. With increasing concerns about reducing the global dependence on fossil fuel, there have been efforts to manufacture chemicals via ‘green’ feedstock instead of petrochemical raw materials. Itanonic acid, although broadly sourced via petrochemical feedstock, can be produced through renewable resources and hence is considered as an apt chemical for biobased platforms in the chemical industry.
The global itaconic acid market was estimated at US$126.4 million in 2014 and is predicted to reach US$204.6 million by 2023, expanding at a CAGR of 5.5% from 2015 to 2023.