(MENAFN- Ameliorate Digital Consultancy)
The global bio-based acetic acid market is valued to be US$ 53.9 million in 2023 and it is anticipated to grow at a CAGR of 5.3% to reach US$ 90.4 million by the end of 2033.
The growth of the market can be attributed to the increased demand for value–added products such as ethyl vinyl acetate (EVA), vinyl acetate monomer (VAM), and other bio–based acetic acid derivatives. Increasing research and development activities to expand the application scope of acetic acid coupled with a notable rise in the demand from end–use sectors such as pharmaceuticals, and construction & personal care products will further supplement the growth of the market.
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Bio-based acetic acid Market Key Takeaways:
The bio-based acetic acid market tallies to a marginally higher value than that of petrochemical-based acetic acid, primarily owing to higher prices of the former. The significant driver of the market is growing demand for bio-based and eco-friendly products. Plant-based feedstock such as sugarcane, corn, and wheat is utilized in the production of bio-based acetic acid, giving the market and its product a competitive edge. The acetic acid chemical industry is estimated to be driven by various trends, such as increasing investments in researches & developments and capacity expansions. Rapid growth in the food & beverage industry and increasing demand for processed and convenience food products have been spurring the demand for acetic acid. Stringent regulations imposed by government bodies related to the environmental concerns pertaining to petrochemical
Bio-based acetic acid Market Key Players:
.DuPont
.Cargill
.BP Bio World
.Verdant Chemistry
.Aemetis
.Reagent Chemical & Research
.Daiken Chemical
.Stoller Group
.Biobeat
.Jungbunzlauer
Segmentation of Bio-based Acetic Acid Industry Research:
By Source : Biomass Corn Starch Maize Others
By Function : Additive Intermediate Acidifying agent Others (flavor enhancer, reagent etc.)
By End-Use : Food Products Vinegar Seasonings Pickles Sauces Mayonnaise Others
Chemical Production Terephthalic Acid (PTA) Vinyl Acetate Monomer (VAM)
Textile Industry Personal Care Products Hair Care Mouthwashes Breath fresheners Others
Others
By Region : North America Latin America Europe East Asia South Asia & Oceania Middle East & Africa
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Questionnaire answered in the Market outlook Report of Bio-based acetic acid include:
What is the global market size of bio-based acetic acids? What are the primary drivers of growth and challenges in the bio-based acetic acid market? What is the market share of key vendors in the global bio-based acetic acid market? What is the market share of different types of bio-based acetic acids? What are the major sources of revenue for the vendors in the bio-based acetic acid market? Contact:
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