Bio-acetic Acid Market size is estimated to reach USD 400 Million by the end of 2036, growing at a CAGR of 5% during the forecast period, i.e., 2024 – 2036. In the year 2023, the industry size of bio-acetic acid was around USD 300 Million. The growth of the market can be attributed to the rising construction industry. Construction is one of the largest industries in the world and contributes around 13% to the total GDP. Moreover, it is expected the industry is going to increase twice in size by 2030. Bio-acetic acid can be utilized to make sustainable and biodegradable building products such as adhesives and coatings.
In addition to these, a factor that is believed to fuel the market growth of bio-acetic acid is the rising demand for textiles. Bio-acetic acids are majorly used in the printing and dyeing of textiles, this increases the production of various sorts of textiles. Moreover, it can also support the formation of natural dyes and pigments for the textiles.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
~5% |
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Base Year Market Size (2023) |
~ USD 300 Million |
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Forecast Year Market Size (2036) |
~ USD 400 Million |
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Regional Scope |
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Application (Acetic Anhydride, Vinyl Acetate Monomer, Acetate Esters, Purified Terephthalic Acid)
The vinyl acetate monomer (VAM) segment in the bio-acetic acid market is estimated to gain the largest revenue share of about 40% in the year 2036. The growth of the segment can be attributed to the rising production of paints and coatings. According to the American Coatings Association, the United States shipped paint and coatings worth USD 1.1 billion to Canada and USD 632 million to Mexico in 2021, totaling USD 1.7 billion. VAMs are highly used in paints and coatings to enhance the adhesion of the substances, this increases the longevity and durability of both paints and coatings.
End User (Food & Beverage, Pharmaceutical, Chemical, Textiles, Agriculture, Cleaning Agents, Rubber & Plastic, Water & Wastewater Treatment; Energy)
Bio-acetic acid market from the chemical segment is expected to garner a significant share of around 35% in the year 2036. Bio-acetic acid is an important industrial chemical and chemical reagent for the production of chemicals. It is used as an initiating reactant for the synthesis of different chemical intermediates. Moreover, it is used in the formation of various organic compounds, anhydrides, and esters. It also facilitates reaction and product separation in the chemical industry by serving as a solvent.
Our in-depth analysis of the global market includes the following segments:
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Raw Material |
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Application |
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End User |
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APAC Market Forecast
The bio-acetic acid market in Asia Pacific is projected to be the largest with a share of about 33% by the end of 2036. The growth of the market can be attributed majorly to the growing production of medicines and other pharmaceutical products. Since joining the World Trade Organization, China's pharmaceutical industry has made remarkable progress. As of 2021, China controls 12% of the global pharmaceutical market, trailing only the United States, which accounts for 40% of total global sales. Furthermore, the Asian-Pacific construction sector has been gradually developing and producing more, which has also increased the demand for bio-acetic acid in the region
North American Market Statistics
The North America bio-acetic acid market is estimated to be the second largest, registering a share of about 27% by the end of 2036. The growth of the market can be attributed majorly to the growing consumption of packaged food or ready-to-eat meals. This has increased the usage of bio-acetic acid as a preservative in this food, to present its taste, freshness, and color. In America, around 36% of people consume ready-to-eat meals, and nearly 57% of American adults prefer consuming ready-to-eat food.
Author Credits: Smruti Ranjan, Rajrani Baghel
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