In 2019, Chronic obstructive pulmonary disease (COPD) is the third leading reason of death worldwide that causing 3.23 million deaths annually. Key factor causing the COPD is exposure to tobacco smoke, indoor air pollution and occupational dusts, fumes, and chemicals such as acetic acid.
The bio-acetic acid market refers to process that produced acetic acid through biological or fermentation processes using renewable resources. Acetic acid is a colorless liquid with a strong, pungent smell and is widely used in various industries such as food, pharmaceuticals, and chemicals. It is commonly used as a solvent, a preservative, and a flavoring agent in many applications.
The demand for bio-acetic acid is increasing due to the growing awareness of environmental issues and the need for sustainable production processes. Bio-acetic acid is produced from renewable resources such as agricultural waste, forestry residues, and cellulosic materials, which reduces the dependence on fossil fuels and helps to mitigate climate change. The bio-acetic acid market is expected to grow significantly in the coming years due to the increasing demand for sustainable and eco-friendly products. The companies are investing in research and development activities to improve the production efficiency of bio-acetic acid and to expand their product portfolio to cater to the growing demand from various end-use industries. Furthermore, the development of new and innovative production processes and the expansion of the product portfolio by key players are expected to create lucrative opportunities for global bio-acetic acid market.
Growing demand from Food Industry is Driving the Market Share
Rising Use in Pharmaceutical Industry is Propelling the market Demand
Increasing Uses for Industries Purposes is Market Driving Factor
Favorable Government Policy are Driving the demand of the Bio Acetic Acid
Renewable Energy Directive (RED)The RED sets binding targets for the use of renewable energy sources in the EU, including biofuels, biogas, and biomass. Bio-acetic acid can be used as a feedstock to produce biofuels, which can contribute to achieving the RED targets.
Circular Economy Action PlanThe EU has adopted a circular economy strategy aimed at promoting sustainable production and consumption practices. Bio-acetic acid can be produced from renewable sources and can be used in a variety of applications, including as a substitute for fossil-based chemicals, which can help to promote a more circular economy.
Horizon EuropeHorizon Europe is a research and innovation program of the EU aimed at promoting research and innovation in various fields, including the bioeconomy. Research and innovation related to the production and use of bio-acetic acid could be supported by this program.
Recent Developments
- Eastman Chemical Company - Avraâ„¢ Bio-based Acetic AcidIn 2019, Eastman
Chemical Company launched Avraâ„¢ Bio-based Acetic Acid, a new product
derived from renewable resources. The product is intended for use in a
variety of applications, including coatings, adhesives, and solvents.
- In
2020, chemical company Celanese announced the
launch of a new bio-based methyl acetate product. Methyl acetate is a
common solvent used in a variety of applications, including coatings and
adhesives.
- In
2021, chemical company Wacker Chemie AG announced the launch of a new
bio-based acetic acid product. The product is produced using biomass-based
feedstocks and is intended for use in a variety of applications, including
pharmaceuticals, food, and agriculture.
- In 2020, Novomer announced the
launch of a new line of polypropylene carbonate polyols, which are used in
the production of polyurethane foams and other products. The polyols are
made using Novomer's proprietary technology, which utilizes bio-based
acetic acid and carbon dioxide as feedstocks. The resulting products offer
improved properties compared to traditional polyols, while also reducing
the environmental impact of production.
Market Segmentation
Company Profiles
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Attribute
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Details
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Base
Year
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2022
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Historic
Data
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2018 –
2021
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Estimated
Year
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2023
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Forecast
Period
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2024 – 2028
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Quantitative
Units
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Revenue in USD Million, and CAGR for 2018-2022 and 2023-2028
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Report
coverage
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Revenue forecast, company share, competitive landscape, growth
factors, and trends
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Segments
covered
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Source
Application
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Regional
scope
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North America, Europe, Asia Pacific, South America, Middle
East & Africa
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Country
scope
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United States, Mexico, Canada, France, Germany, United Kingdom,
Spain, Italy, France, China, India, South
Korea, Japan, Australia, Brazil, Argentina, Colombia, South Africa, Saudi Arabia,
UAE
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|
Key
companies profiled
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Airedale Chemical Co Ltd, Bio-Corn Products EPZ Ltd, Godavari
Biorefineries Ltd (GBL), Sucroal
SA, Zea2 LLC, Cargill Corporation,
Novozymes AS, LanzaTech Inc, Wacker Chemie AG, SEKAB Biofuels & Chemicals
AB, Novomer Inc, Cleanse International, Inc, Eastman Chemical Company
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Customization
scope
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10% free report customization with purchase. Addition or alteration
to country, regional & segment scope.
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Pricing
and purchase options
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Avail customized purchase options to meet your exact research
needs. Explore purchase options
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Delivery
Format
|
PDF and Excel through
Email (We can also provide the editable version of the report in PPT/Word
format on special request)
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