The market for bio-acetic acid is expected to register a significant growth during the forecast period, 2018 to 2023.This tremendous growth is significantly driven by the increasing demand for vinyl acetate monomer (VAM) market.
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Key Leading Companies Mentioned:
BASF Corporation, BioAmber Inc, Bio-Corn Products EPZ Ltd, Braskem, Cargill, Dairen Chemical Corporation, Genomatica, GF Bio-chemicals, Koninklijke DSM N.V., Metabolix, Inc., Mitsubishi Chemicals, Myriant Technologies, NatureWorks LLC, Novozymes, Wacker Chemie AG.
Stringent Regulations over Conventional Acetic Acids
The market for bio-organic acids are majorly driven by the stringent environmental regulations imposed by regulatory bodies of various countries on conventional organic acid producers. Among the bio-organic acids, bio-acetic acid is the largest market segment and hugely leveraging this market trend.
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Vinyl Acetate Monomer (VAM) Segment to Dominate the Market
Among the other applications, Vinyl Acetate Monomer (VAM) holds the largest market share of the global bio-acetic acid. Consumption of VAM is majorly driven by the applications like polyvinyl acetate and polyvinyl alcohol and end-user industries like textiles and adhesives and sealants.
The immensely growing VAM market is further helpful to fuel the market growth for bio-lactic acid market in the nearby future.
Asia-Pacific to Ignite the Market Growth
Though Europe is the largest regional market for global bio-acetic acid, Asia-Pacific is also an important market as it represents the fastest growth in the global market. The increasing demand from packaging, food & beverages, and textile industries of the countries like China, India, Thailand, and Korea are providing great opportunity for the bio-acetic acid market to continue the fastest pace of growth.
Moreover, since, the product is an intermediate and is bio-degradable in nature, it has been widely accepted by the industries for various purposes such as polymer resins. The large market size with this huge growth of Asia-Pacific is quite instrumental in expansion of the global bio-acetic acid market.
Key Developments in the Market
- The discovery of the Monascus ruber micro-organism proved to be the crucial step in producing organic acids in large-scale industrial fermentation processes.
- BioAmber buys the bio-based acid plant, which is located in Sarnia in Canada, as part of a joint venture with Mitsui.
Reasons to Access this Report
Identify the current and future prospects of the global bio-acetic acid market in the developed and emerging markets
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Information of the segment that is expected to dominate the market
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Identify the latest developments, market shares, and strategies employed by the major market players
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