Press release
Bio-Based Acetic Acid Market Projected To Witness A Double-Digit Cagr During 2031
As per a new report published by Fact.MR, a market research and competitive intelligence provider, the global bio-based acetic acid market is forecast to exceed a valuation of US$ 45.6 Mn by 2021, and expand at a CAGR of more than 5% over the forecast period of 2021 to 2031.To Get In-depth Information View Full Report –
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.
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.
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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.
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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
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