(MENAFN- America News Hour)
The report on Bio-acrylic Acid Market that has been recently added by Kenneth Research, offers a complete evaluation of the market and its growth prospects along with new business opportunities in the industry. Additionally, the report contains the market size and annual growth rate for a period of 8 years, i.e. forecast period between 2022 and 2031.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Bio-acrylic Acid Market Products.
Request To Download Sample of This Strategic Report: –
According to the statistics by the Invest India, the market value of chemicals industry in India was estimated to be USD 178 billion during the period 2018-2019. Additionally, the data also stated that the demand for petrochemicals in the country is observing a steady growth and is further estimated to grow at a CAGR of 7.5% during 2019-2023. On the other hand, the market for agrochemicals is expected to register a CAGR of 8% during the same period and further attain a market value of USD 4.7 billion by the end of 2025.
Technically considered as the simplest unsaturated carboxylic acid', acrylic acid is a colorless liquid characterized by a tart smell. It is miscible with water, alcohols, ethers, and chloroform and as a result polymerizes readily to form useful commercial products such as plastics, coatings, adhesives, elastomers, floor polishers and paints. Clarity, Color stability, heat and aging resistance are some of the desirable qualities that acrylic acids provide for polymeric materials. Moreover, they are used to form super absorbent polymers, and detergentbuilders which are used in disposable baby diapers, feminine hygiene products, water treatmentand detergents.
The formulation of acrylic acid relies heavily on the processing of petrochemicals as the base raw material.A high demand for acrylic acid paired with volatile crude oil prices is leading to the development of renewable alternatives to reduce the dependence of acrylic acid's formulation on gasoline. Due to rising environmental concerns, acrylic acids are now predominantly being produced from renewable carbon sources (such as corn or sugarcane), in an economically preferentialmanner.
End-user/Technology
Acrylic acids are majorly used in the cosmetics industry, particularly in the manufacturing of nail polish. They are also used by manufacturers of coatings, elastomers, floor paints, plastics, adhesives and floor polishes. Adhesives Manufacturers and Pulp & Paper Manufacturers also make much use of acrylic acid. Acrylic acid is also used in the chemical industry as an intermediate.
Market Dynamics
The speedy expansion of the Bio-acrylic Acid Market has resulted in the Bio-Acrylic acid market historically growing at 4% annually. Environmentally-friendly and sustainable chemical processing is gaining commercial as well and societal interest. Besides the inherent benefit of being a 'green' process, a bio-based acrylic acid production has the potential to offer protection against the petrochemical market volatility, which has been more recently associated with ethylene and propylene costs.
The challenges in this market would be feedstock selection and capacity planning to meet demands.
Market Segmentation
The market is segmented in terms of product type as: ethyl acrylate, butyl acrylate, ethylhexyl acrylate, methyl acrylate, acrylic esters, and others.
Regional/Geographic Analysis
On the basis of geography, the bio-acrylic acid market is segmented into North America, Europe, Asia Pacific and LAMEA. The factors driving growth in these regions are the widespread adoption of renewable roots for production and growing industries such as coatings, adhesive, etc. Moreover, LAMEA has lucrative opportunities for the production of crude compound due to the presence of world's largest petrochemicals sites in the region.
Opportunities
Bio acrylic acid provides opportunities for new, potentially low cost routes to chemical intermediates. In addition to being cost competitive, bio-derived acrylic acid provides the same level of purity and reactivity for producing esters and polymeric derivatives.
Download Sample of This Strategic Report: –
Key Players
Some of the major players in the market include BASF, BioAmber, Braskem, DSM, Genomatica, and Myriant .
Report ContentsRegional AnalysisReport Highlights
Market segments
Market Drivers, Restraints and Opportunities
Market Size & Forecast 2016 to 2022
Supply & Demand Value Chain
Market – Current Trends
Competition & Major Companies
Technology and R&D Status
Porters Five Force Analysis
Strategic and Critical Success Factor Analysis of Key Players
North America
US and Canada
Latin America
Mexico, Brazil, Argentina and Rest of Latin America
Western Europe
EU5 (Germany, France, Italy, Spain, U.K.)
Nordic Countries (Denmark, Finland, Norway, and Sweden)
Benelux (Belgium, The Netherlands, and Luxembourg)
Rest of Western Europe
Eastern Europe
Russia
Poland
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia and New Zealand
Rest of Asia Pacific
Middle East and Africa
GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
South Africa
North Africa
Rest of Middle East and Africa
This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides details on market segmentation which is derived from several product mapping exercises, macroeconomic parameters and other qualitative and quantitative insights. The impact of all such factors is delivered across multiple market segments and geographies.
Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
Consumer and Pricing Analysis
Market dynamics of the industry
Market Segmentation
Estimated Market Sizing in terms of volume and value
Recent trends in Market and impact
Research Status and Technology Overview
Extensive Industry Structure Coverage
Request for Full Report:
About Kenneth Research:
Kenneth Research is a multi-client market research database that aims at providing reports that help industry professionals including various individuals and organizations to identify the market trends and scope, thereby making it easier for them to take decisions and form strategies after complete assessment of the market. The various industries catered by the company include healthcare & pharmaceuticals, ICT & telecom, automotive & transportation, energy & power, chemicals, FMCG & food, aerospace & defence and several others. Being a global market research reselling firm, Kenneth Research provides strategic business consultancy services at a global level and offers a single platform for the best market research reports.
Contact Us
Name : Kenneth research
Email:
Phone: +1 313 462 0609
George Benson
George Benson is an energetic and versatile freelance writer for 5 years, he pens down any type of article and web content. He is a Cambridge University Business English Certificate (Europe Level) holder. He is analytical, enthusiastic, and ingenious, with the essence to work variously, and strives to emerge as a lucrative individual who has a grasp on market. Congenial Interpersonal skills and the competence to grab every single trivia with foolproof analysis is something he primarily possesses.
MENAFN31052022004545010068ID1104296976
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.