Bio-acetic acid Market to be Dominated by Bio-acetic acid Esters Supplement Type through 2028
Increasing demand from pharmaceuticals sector and
end user industries is expected to drive Global Bio-acetic acid market in the
forecast period 2024-2028
According to TechSci Research report, “Bio-acetic acid Market -
Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028”, Global Bio-acetic acid
market is anticipated to upsurge at an impressive rate in the forecast period
of 2028 due to rising awareness of sustainable product. The key reason driving the
demand for bio-acetic acids from the pharmaceuticals
sector and food and beverage industries as pain reliever, anti-inflammatory
drug, flavoring agent, and preservative. The growing awareness
about the Bio based product to lessen the reliance on other renewable source
are expected to increase the demand for Bio- acetic acid market worldwide.
The cost of the product and scalability
are key restraint for the bio-acetic acid market growth Bio-based acetic acid
is often more expensive to produce than traditional acetic acid, due in part to
the higher costs associated with using renewable feedstocks. This can make it
difficult for companies to compete in markets where cost is a primary concern.
Apart from these, while there has been
significant progress in the development of bio-based acetic acid production
methods, scaling up these methods to meet commercial demand can be challenging.
This can limit the availability and scalability of bio-based acetic acid
products hence, all these factors can further slowdown the bio-acetic acid market
growth.
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Global Bio-acetic acid Market
is segmented based on source, application, and region.
Based on the source, the
market is categorized into biomass, corn, maize, sugar,
and other. Biomass type segment
is expected to hold the largest market share in the forecast period, 2024-2028
due to its properties such as carbon neutral, less residue release. Bio mass
are cheaper than other alternative which is constantly and widely available as
a renewable source of energy. Apart from these, it helps to save extra money
and increase their profitability.
Based
on application, the market is fragmented into vinyl acetate monomer, acetate
esters, purified terephthalic acid, acetic anhydride, and others. Vinyl Acetate Monomer segment is expected to dominate the
segment in forecast period of 2028. As it is widely used by end-user
industries, including construction, and packaging, particularly for packaged
foods, and textile. Which make it more demanded in the segment.
Major companies operating
in the global Bio-acetic acid market are:
- Airedale
Chemical Co Ltd
- Bio-Corn
Products EPZ Ltd
- Godavari
Biorefineries Ltd (GBL)
- Sucroal SA
- Zea2 LLC
- Cargill
Corporation
- Novozymes AS
- LanzaTech
Inc
- Wacker
Chemie AG
- SEKAB
Biofuels & Chemicals AB
- Novomer Inc
- Cleanse
International, Inc
- Eastman
Chemical Company
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“The
Asia-Pacific region is expected to dominate the bio-acetic acid market in the
coming years due to the growing demand from countries such as China, India, and
Japan. The increasing population, urbanization, and industrialization in these
countries are driving the demand for bio-acetic acid for various applications. The
increasing demand for different industries for production of chemicals across
the world is expected to drive the demand for bio-acetic acids and creating
huge prospects of market growth during the forecast period,” said Mr. Karan
Chechi, Research Director with TechSci Research, a research-based global
management consulting firm.
“Bio-acetic
acid Market - Global Industry Size, Share, Trends, Opportunity, and Forecast,
2018-2028 Segmented By Source (Biomass, Corn, Maize, Sugar, and Other Raw
Materials), By Application (Vinyl Acetate Monomer, Acetate Esters, Purified
Terephthalic Acid, Acetic Anhydride, and Other Applications), By Region, and
Competition, has evaluated the future growth
potential of global bio-acetic acid market and provides statistics &
information on market size, structure, and future market growth. The report
intends to provide cutting-edge market intelligence and help decision-makers
take sound investment decisions. Besides, the report also identifies and analyzes
the emerging trends along with essential drivers, challenges, and opportunities
in the global bio-acetic acid market.”
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