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.
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Bio-based acetic acid has huge potential in the chemical industry. This potential could be evaluated utilizing the rate of consumption of bio-based acetic acid in the production of vinyl acetate monomers (VAMs). Growing utilization of vinyl acetate monomers is being seen as an intermediate in the production of a wide range of resins and polymers for adhesives, paints & coatings, glues & sealants, textile finishes, elastomers, films, binders, and other industrial and consumer goods applications. Extensive diversification of VAMs provides an image of robust market growth of bio-based acetic acid for the coming years.
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Moreover, dynamic and stringent environmental standards adopted by policy makers across the globe to curb carbon footprint are also paving the way for increased adoption of bio-based acetic acid by titans in the chemical industry.
Key Takeaways from Market Study
- Bio-based acetic acid usage in food products is forecast to register a CAGR of 5.9% and be valued at US$ 30 Mn by 2031-end.
- Textile industry end use is expected to hold 12.2% market value share by 2031-end, but is anticipated to lose 51 BPS in its market share by then.
- Chemical production is anticipated to capture 28.7% market value share by 2031-end, and is projected to gain 114 BPS.
- Acidity regulator function has the highest growth potential in the bio-based acetic acid market in terms of market acceptance. This function is expected to gain 251 BPS by 2031.
- Bio-based acetic acid usage in pharma products is projected to grow 1.5X in value during the forecast period, while usage in personal care products is projected to grow 1.4X.
“Rising inclination towards sustainability and focus on strengthening the bio-based economy are anticipated to open new opportunities for bio-based acetic acid manufacturers,” says a Fact.MR analyst.
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Market Segments Covered in Bio-based Acetic Acid Industry Analysis
- 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
- Processing
- Printing
- Pharma Products
- Personal Care Products
- Hair Care
- Mouthwashes
- Breath fresheners
- Others
- Others
- Food Products
The report covers following Bio-Based Acetic Acid Market insights and assessment that are helpful for all participants involved in the Intradermal Injections market:
- Data on recently introduced regulations and their impact on key industries and on demand in Bio-Based Acetic Acid Market
- Latest industry Bio-Based Acetic Acid Market with key analysis of market drivers, trends, and influencing factors
- Key trends Analysis of Bio-Based Acetic Acid Market and changing consumer preferences in major industries.
- Changing Bio-Based Acetic Acid Market demand and consumption of diverse products
- Major trends underlining funding by key investors in numerous countries
- New investment opportunities in diverse technology and product or service types
- Comprehensive data and Competitive analysis of Bio-Based Acetic Acid Market major players
- Bio-Based Acetic Acid Market sales in US will grow at a steady pace, driven by growing consumer confidence and economic recovery
- Bio-Based Acetic Acid Market demand forecast in Europe remains stable, as many countries such as UK, France, and Germany focus on boosting growth
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