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.
Recently, bio-acetic acid is gaining significance as a replacement for petroleum-based succinic acid owing to the renewability and eco-friendly which is a key tool for the bio-acetic acid to increase its market share in global acetic acid market in the forecast period.
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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