Bio-acetic Acid Market Trends

  • Report ID: 5238
  • Published Date: Oct 22, 2024
  • Report Format: PDF, PPT

Bio-acetic Acid Market Trends

Growth Drivers

  • Growing Prices of Crude Oil– Brent crude futures jumped USD 1.10, or 1.3%, to USD 86.24 per barrel, while West Texas Intermediate crude rose USD 1.27. A rise in crude oil prices can push the economic incentives for the development and production of bio-based chemicals, including bio-based acetic acids.
  • Increasing Demand for Biofuels – In comparison to 2021, the demand for biofuel in the world will rise by around 6% or 9100 million liters per year in 2022. Renewable diesel accounts for the majority of this year-on-year growth. The higher production of biofuel can also benefit the production of bio-acetic acid, as it can rely on shared feedstock infrastructure of biomass, sugarcane, corn, and others.
  • Growing Production of Automobiles- In 2022, around 85 million motor cars were manufactured around the world, representing a 5.7% increase over 2021. The automotive industry is increasingly using bio-based acetic acid for manufacturing the interior components of automobiles.

Challenges

  • Slow Scaling of the Bio-acetic Acid- It is difficult to maintain efficiency, and cost-effectiveness and to achieve scalability at the same time. Therefore, achieving economies of scale is crucial to compete with the production of conventional acetic acid.
  • Low Awareness Among People Related to Bio-acetic Acid
  • Lack Of Raw Material for Bio-acetic Acid

Bio-acetic Acid Market: Key Insights

Base Year

2024

Forecast Year

2025-2037

CAGR

5.2%

Base Year Market Size (2024)

USD 224.53 million

Forecast Year Market Size (2037)

USD 433.99 million

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

Get more information on this report: Request Free Sample PDF

Browse Key Market Insights with Data Illustration:


Author Credits:  Rajrani Baghel


  • Report ID: 5238
  • Published Date: Oct 22, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

In the year 2025, the industry size of bio-acetic acid is assessed at USD 233.87 million.

Bio-acetic Acid Market size was over USD 224.53 million in 2024 and is likely to reach USD 433.99 million by the end of 2037, witnessing around 5.2% CAGR during the forecast period i.e., between 2025-2037. Increasing demand for textiles and growing demand for sustainable buildings will drive the market growth.

Asia Pacific industry is anticipated to hold largest revenue share of 33% by 2037, backed by growing production of medicines and other pharmaceutical products in the region.

The major players in the market are Airedale Chemicals, Bio-Corn Products EPZ Ltd., Godavari Biorefineries Ltd., Sucroal SA, Novozymes A/S, LanzaTech, Afyren SAS, BTG Bioliquids, Sekab and Wacker Chemie AG.
Inquiry Before Buying Request Free Sample
logo
  GET A FREE SAMPLE

FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.

 Request Free Sample Copy

Have questions before ordering this report?

Inquiry Before Buying
Inquiry Before Buying Request Free Sample