APAC Drives the Global Chitosan Market | Technavio

By , in PR PR Sci/Tech on .

LONDON–()–The latest market research report by Technavio on the global chitosan market predicts a CAGR of above 18% during the period 2017-2021.

The report segments the global chitosan market by end-user application including, water treatment, food and beverage, cosmetics, and pharmaceutical and biomedical, and by geography, including APAC, EMEA, and the Americas. It provides a detailed illustration of the major factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.

Here are some key findings of the global chitosan market, according to Technavio chemicals and materials researchers:

  • Emerging application from end-use industries: a major market driver
  • The water treatment end-user application segment dominated the market with approximately 40% share in 2016
  • APAC dominated the global chitosan market with a share of 53% in 2016
  • Advanced Biopolymers, FMC Corporation, Golden-Shell Biochemical, G.T.C. Bio Corporation, and KitoZyme are the leading players in the market

This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing

Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free.

Emerging application from end-use industries: a major market driver

Growing demand for emerging applications such as agrochemicals, fuel cells, photographic products, cardiovascular diseases treatment, textiles, ophthalmology, and paper and pulp are driving the demand for chitosan. Due to an increase in demand for chitosan, there has been a rise in R&D for niche applications. Chitosan from crustacean shell, shrimps, crabs, and krills are low cost and available in abundance, which is gaining importance in various applications.

Chitosan biopolymer is used to make membrane materials for lithium batteries, ultrafiltration, and reverse osmosis. It is cost-effective and eco-friendly, and it is replacing expensive polymer-based electrolyte membranes in fuel cells. Chitosan-based membranes display good hydrophilicity, good proton conductivity, and good thermal and chemical stability. It is gaining influence as a bio-based material for electrolyte membranes and electrodes in various fuel cells such as biofuel cells and alkaline polymer electrolyte fuel cells.

Looking for more information on this market? Request a free sample report

Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.

APAC dominates the market

The major drivers for the chitosan market in APAC are increasing demand for foods and beverages, pharmaceuticals and biomedicines, and cosmetics. Abundant availability of raw materials such as shrimps and craps in China, Vietnam, Japan, and Thailand has led to APAC being the largest producer of chitosan and its derivatives. Japan accounts for the major share in the chitosan market in this region. Growing use of chitosan in wastewater treatment and cosmetics are the main drivers for the chitosan market in Japan.

According to Kurva Samba Sivudu, a lead analyst at Technavio for research on bio-chemicals and bio-materials, “Major countries in this region for chitosan are China, India, Japan, and South Korea. The demand in the food and beverage sector in growing as the South Korean government has approved the use of chitosan as a natural food additive. Manufacturers in this region are producing chitosan at a large scale due to its biocompatibility, non-toxicity, and easy availability.”

Competitive vendor landscape

With the presence of a few multinational and regional vendors, the global chitosan market is moderately concentrated. The parent market for chitosan is the global renewable chemicals market. Opportunities for new entrants are evolving due to the ease of availability of raw materials, along with emerging applications of chitosan in pharmaceutical and biomedical, cosmetic, water treatment, and food and beverage. Existing players are also likely to develop new and differentiated products to gain market share.

Get a sample copy of the global chitosan equipment market report free of cost

Access Technavio’s continuously growing bio-chemicals and bio-materials research library and find expert analysis on hundreds of markets.

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team at [email protected].

The following two tabs change content below.
Maria Burns

Maria Burns

Maria is a Viral News Editor who graduated from the University Of California. She likes social media trends, being semi-healthy, Buffalo Wild Wings and vodka with lime. When she isn’t writing, Maria loves to travel. She last went to Thailand to play with elephants and is planning a trip to Bali.
%d bloggers like this: