Recently released bio-based acetic acid market analysis by Fact.MR, a market research and competitive intelligence provider, showcases that the market reached US$ 44.1 Mn in 2020, and is expected to be valued over US$ 45.6 Mn by 2021-end.
The bio-based acetic acid industry had shown a decrease in growth during 2020 with worldwide revenues down 1.8% year-on-year. However, owing to gradual recovery and rising demand followed by increasing production, overall revenue is projected to grow 1.6X from 2021 to 2031.
The bio-based acetic acid market research performed by Fact.MR delves on key details such as current and speculative production capacity, capacity utilization rates of each producer, price growth and production optimization strategy across value chain and many more.
Key Points Covered in Bio-based Acetic Acid Industry Survey:
- Market Estimates and Forecasts (2016-2031)
- Production Capacity Analysis of Prominent Manufacturers
- Sales of Bio-based Purified Terephthalic Acid
- Sales of Bio-based Acetic Anhydride
- Sales of Bio-based PTA
- Latets Trends of Corn-based Bio-acetic Acid
- Top Bio-based Purified Terephthalic Acid Producers
- Top manufacturers of Sugar-based bio-acetic acid in Japan
- Assessment by Product Grade / Purity / Formulation Standards
- Assessment of Import Price, Bulk Price, Contractual Price, Producer / Distributor Price
- Certifications and Compliance Requirements
- Top companies of Bio-based Vinyl Acetate Monomer in Australia
- Key Drivers and Restraints Shaping Market Growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Market Share Analysis
- COVID-19 Impact on Bio-based acetic acid and How to Navigate
- Recommendation on Key Winning Strategies
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Growth of the bio produced acetic acid market primarily depends on demand generated from food and chemical industries. Substantial increase in the sales of sugar-based bio-acetic acid is also one of the reasons behind overall market growth in terms of value.
The latest research report on the Survey of Bio-Based Acetic Acid Market is intended to offer reliable data on various key factors shaping the growth curve & outlook of Bio-Based Acetic Acid market. This report works as a rich source of information for key entities such as policy makers, end-use industries, investors, and opinion leaders.
The Demand analysis of Bio-Based Acetic Acid Market offers a comprehensive analysis of diverse features, demand, product developments, revenue generation, and sales of Bio-Based Acetic Acid Market across the globe.
A comprehensive estimate of the Demand of Bio-Based Acetic Acid market has been provided through an optimistic scenario as well as a conservative scenario, taking into account the Sales of Bio-Based Acetic Acid during the forecast period. Price point comparison by region with the global average price is also considered in the Survey study of Bio-Based Acetic Acid market.
The analysts have used numerous industry-wide prominent business intelligence tools to consolidate facts, figures, and market data into Sales revenue estimations and projections in the Market Insights of Bio-Based Acetic Acid.
Key stakeholders in Bio-Based Acetic Acid Market including industry players, policymakers, and investors in various countries have been continuously realigning their strategies and approaches to implement them in order to tap into new opportunities.
The Market survey of Bio-Based Acetic Acid offers a comprehensive analysis of diverse features, including production capacities analysis &Insights of Bio-Based Acetic Acid Market, demand of Bio-Based Acetic Acid market, product developments, revenue generation, and Size of Bio-Based Acetic Acid Market across the globe.
Key Highlights from the Insights Report of Bio-Based Acetic Acid Market:
- Elaborated scenario of the parent market
- Transformations in the Demand of Bio-Based Acetic Acid market dynamics
- Detailed segmentation of the target market.
- Historical, current and forecast of Bio-Based Acetic Acid market size based on value and volume
- Latest industry developments and Market trends of Bio-Based Acetic Acid
- competitive analysis of Bio-Based Acetic Acid Market
- Strategies adopted by the Bio-Based Acetic Acid market players and product developments made
- Potential and niche segments, along with their regional analysis
- Unbiased analysis on market size of Bio-Based Acetic Acid
- Up-to-date and must-have intelligence for the market players to enhance and sustain their competitiveness
How is Demand for Polymer Binders Fuelling the Market for Bio-based Acetic Acid?
Growing utilization of environmentally friendly construction materials has increased demand for bio-based polymeric binders. Polymeric binders are valuable raw materials in the construction and coating industry. By looking into the growing use of bio-based acetic acid for paints & coatings, leading manufacturers are focusing on adopting the biomass balance method to process bio-based products, which will be more suitable for the utilization as binders in plasters and paints.
For instance, in 2019 WACKER introduced a polymer binder based on a renewable source, which includes bio-based acetic acid. Products based on bio-based acetic acid provide enhanced moisture protection in structures, and they also they stand out for their lower emission characteristics.
Demand for polymeric binders in paints & coatings application will provide an impetus to the demand for bio-based acetic acid
Market Segments Covered in Bio-based Acetic Acid Industry Analysis
- Corn Starch
- Acidifying agent
- Others (flavor enhancer, reagent etc.)
By End Use
- Food Products
- Chemical Production
- Terephthalic Acid (PTA)
- Vinyl Acetate Monomer (VAM)
- Textile Industry
- Pharma Products
- Personal Care Products
- Hair Care
- Breath fresheners
- Food Products
How Does Growing Consumption of Vinegar Increase Requirement for Bio-based Acetic Acid?
Upsurge in demand for vinegar for cooking, baking, cleaning, and weed control applications has increased the utilization rate of bio-based acetic acid. Vinegar typically consists of 4-7% of acetic acid and is considered as the main ingredient after water.
It has been observed that vinegar intake reduces blood sugar level and insulin level after a meal. Also, it helps to reduce cholesterol in certain cases, in weight management, and in treating several physical ailments including nail fungus, warts and ear infections which can be treated by vinegar.
These benefits of vinegar coupled with rising consumer consciousness regarding bio-based content in food products such as vinegar will bolster demand for bio-based acetic acid.
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Some Notable Offerings by Fact.MR Report on Bio-Based Acetic Acid market:
- We will provide you an analysis of the extent to which this Outlook of Bio-Based Acetic Acid market research report acquires commercial characteristics along with examples or instances of information that helps you to understand it better.
- We will also help to identify customary/ standard terms and conditions, as offers, worthiness, warranty, and others.
- Also, Outlook of Bio-Based Acetic Acid market research report will help you to identify any trends to forecast growth rates.
- The analyzed report will forecast the general tendency for supply and demand of Bio-Based Acetic Acid market.
Which Region Offers Huge Opportunity for Bio-based Acetic Acid Sales Growth?
Europe is expected to account for over 34% of bio-based acetic acid demand throughout the analysis period. Owing to the COVID-19 pandemic in 2020, most European nations with high demand for bio based acetic acid experienced a decline, and the overall European market shrank by nearly 1.5% year-on-year. Despite the downfall across Europe, total demand for bio-based acetic acid reached over 14,737 MT in 2020.
The North American market has the second-largest number of consumers of bio-based acetic acid after Europe. Especially, the U.S. bio-based acetic acid market is anticipated to portray growth over the forecast period. Upsurge in the requirement for bio-based chemicals along with supportive initiatives towards a bio-based economy is anticipated to show great growth potential over the forecast period.
South Asia and Oceania, led by India, is anticipated to rise at a CAGR of 4.8% during the forecast period. South Asia Oceania’s market has growth potential in terms of production growth, but in terms of consumption, the region has a nominal growth prospective compared to Europe and North America.
East Asia is one of the potential markets for bio-based acetic acid. The region witnessed over 7,551 MT consumption in 2020, and is anticipated to rise at a CAGR of 4.9% over the forecast period.
How Fact.MR Assists in Making Strategic Moves For Bio-Based Acetic Acid Market Manufacturer?
The data provided in the Survey Report of Bio-Based Acetic Acid market offers comprehensive analysis of important industry trends. Industry players can use this data to strategize their potential business moves and gain remarkable revenues in the upcoming period.
The report covers the price trend analysis and value chain analysis along with analysis of diverse offering by market players. The main motive of this report is to assist enterprises to make data-driven decisions and strategize their business moves.
Some of the Bio-Based Acetic Acid Market insights and estimations that make this study unique in approach and effective in guiding stakeholders in understanding the growth dynamics. The study provides:
- Details regarding latest innovations and development in Bio-Based Acetic Acid and how it is gaining customer traction during the forecast period.
- Analysis about the customer demand of the products and how it is likely to evolve in coming years.
- Latest regulations enforced by government bodies and local agencies and their impact on Demand of Bio-Based Acetic Acid Market .
- Insights about adoption of new technologies and its influence on the Bio-Based Acetic Acid market Size.
- Overview of the impact of COVID-19 on Bio-Based Acetic Acid Market and economic disruptions caused by the pandemic.
- Evaluates post-pandemic impact on the Sales of Bio-Based Acetic Acid Market during the forecast period.
Why Bio-based Acetic Acid Penetration is Still a Challenge and How to Tackle It?
It is a clear demonstration that the transition from a fossil fuel-based economy into a bio-based economy is expensive, which requires a huge amount of resources and capital, and most importantly, is time-consuming.
Cost-effective production routes to bio-acetic acid is still a challenge. Co-production of chemicals & materials can generate the necessary added value to overcome the economic hardship behind the production of bio-based acetic acid. Co-production of corn oil and distiller dried grains with solubles (DDGS) in a dry mill ethanol plant is an example of the same.
Burgeoning bio-based economy, where traditional sources of feedstock can be replaced by biomass, will incrementally grow in complexity and size. Analysing every aspect of sustainability the opportunities are not always clear. Therefore it is recommended that a true valuation be placed on biomass for future use.
Hemicellulose and lignin, cellulose, as well as other plant materials, are valuable assets and companies should explore the potential opportunities to maximize the economic, environmental and social benefits of different methods for their use.
Why is the U.S. a Global Heavyweight for Bio-based Acetic Acid Demand?
Top producers of bio based vinyl acetate monomer are based in the US and the country also had witnessed 1.5 million metric tons of VAM production in 2020. By considering the demand for bio based vinyl acetate monomer, the US is regarded as one of the highest markets for bio-based acetic acid during the forecast period.
Additionally, the country is welcoming several manufacturers of bio-based chemicals from across the globe and is also importing bio-based chemicals from others countries to meet domestic demand. In terms of volume, the U.S. bio-based acetic acid market is expected to expand at a CAGR of 5.5% over the forecast period and reach 14,995 MT consumption by 2031-end.
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How is Availability of Substitutes Hampering Sales of Bio-based Acetic Acid in the Textile Industry?
Rise in consumption of formic acid in the textile industry contracted global bio-acetic acid market sales. Utilisation of formic acid for alkali neutralization including cotton pre-treatment, mercerizing, bleaching, dyeing, and cleaning is mostly preferred over acetic acid. This is because up to one-third lesser quantity of formic acid is required for neutralizing alkalis when compared to acetic acid.
Moreover, depending on pH, formic acid has proven more efficient than acetic acid, especially for the use of printing recipes, additives, thickening agents, etc. Additionally, BIOCID-NV is an organic acid that acts as a replacement for acetic acid in the textile industry. The iconic property of the organic acid not only has the function of pH adjustment but also can be used in neutralization, finishing, etc.
How Diversified is the Bio-based Acetic Acid Market?
In chemical production, bio-based acetic acid has huge potential as a precursor for vinyl acetate monomer (VAM) production. In 2020, over 75% of bio-based acid was utilized for the production of VAMs.
Bio-based acetic acid consumption for chemical production was over 12,607 MT in 2020, and this is expected to increase at a CAGR of 4.8% over the forecast period.
The textile industry is emerging in terms of consumption of bio-acetic acid, and it is anticipated to account for 12.3% of overall demand by 2031-end. Bio-based acetic acid in the textile industry is mostly preferred for dyeing. In 2020, over 64% of bio-based acetic acid consumed in the textile industry was for dyeing purposes.
Future demand in the global bio based acetic acid market is set to escalate in the personal care industry as well. It has been used in the formulation of bundled personal care products including shampoos, conditioners, hair rinses, etc.
Bio-based acetic acid has a strong foothold in the chemical industry, and is slightly diversified in textile, food, and personal care industries. The market is anticipated to diversify at a faster pace over the long-run forecast period.
After reading the Market insights of Bio-Based Acetic Acid Report, readers can:
- Understand the drivers, restraints, opportunities and trends affecting the Sales of market.
- Analyze key regions holding significant share of total Bio-Based Acetic Acid market revenue.
- Study the growth outlook of Bio-Based Acetic Acid market scenario, including production, consumption, history and forecast.
- Learn consumption pattern and impact of each end use & supply side analysis of Bio-Based Acetic Acid market .
- Investigate the recent R&D projects performed by each market player & competitive analysis of Bio-Based Acetic Acid Market Players.
How Has Bio-based Acetic Acid Demand Been Shaping across Established & Evolving Markets?
China: China is one of the most prominent markets for bio-based acetic acid both in terms of production and consumption. Although, considering the past 4 years statistics the country had grown at a moderate pace with a CAGR of 1.4%.
But owing to the fact such as overall acetic acid market growth, an increase in the consumption of acetic acid in bio-based VAM production, the country is expected to grow at a CAGR 5.2% during the forecast period. China bio-based VAM demand had increased at a CAGR of 5.2%, and is expected that the demand will increase at 6.7% CAGR over the forecast period.
Germany: Consumption of bio-based acetic acid in Germany had gained traction since 2019 after WACKER introduced its new product lineups, manufactured from bio-based material, which also included bio-based acetic acid. In 2020, the country witnessed over 15.8% of total consumption of bio-based acetic acid across Europe.
Austria: Austria is a prominent market for bio-based acetic acid in Europe. Lenzing AG is a manufacturer responsible for large production of bio-based chemicals in the country, which includes acetic acid as well. The country holds over 20% of the overall market share in Europe.
Sweden: Sweden is home to the world’s largest producer of bio-based acetic acid – SEKAB. The country is not only rich in terms of production but also in terms of consumption. Over 17% of European consumption of bio-based acetic acid is from Sweden.
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