What is Global Bio Based Acetic Acid Market?
The Global Bio Based Acetic Acid Market is an emerging sector in the global economy, which is gaining significant attention due to its eco-friendly and sustainable nature. Bio-based acetic acid is a type of organic compound that is produced from renewable resources such as plant and animal biomass. This acid is primarily used as a raw material in the production of various chemicals, which are further used in a wide range of industries. The global market for bio-based acetic acid is driven by the increasing demand for sustainable and eco-friendly products in various end-use industries such as food and beverages, textiles, pharmaceuticals, and personal care. Moreover, the stringent environmental regulations imposed by various governments worldwide are also propelling the growth of this market. The market is also witnessing significant technological advancements, which are expected to further boost the market growth in the coming years.
Grain & Sugar Fermentation, Wood Cellulose Fermentation, Other in the Global Bio Based Acetic Acid Market:
The Global Bio Based Acetic Acid Market is segmented based on the production process into grain & sugar fermentation, wood cellulose fermentation, and others. Grain & sugar fermentation is a traditional method of producing acetic acid, which involves the fermentation of grains and sugars by certain types of bacteria. This method is widely used due to its cost-effectiveness and high yield. On the other hand, wood cellulose fermentation is a relatively new method, which involves the fermentation of wood cellulose by specific types of bacteria. This method is gaining popularity due to its eco-friendly nature and high efficiency. The other methods of production include the use of various other types of biomass such as agricultural waste, forest residues, and algae. These methods are still in the experimental stage and are expected to gain traction in the near future.
Food Industry, Textile Industry, Pharmaceutical Industry, Health & Personal Care, Chemical Industry in the Global Bio Based Acetic Acid Market:
The Global Bio Based Acetic Acid Market finds extensive application in various industries such as the food industry, textile industry, pharmaceutical industry, health & personal care, and chemical industry. In the food industry, bio-based acetic acid is used as a preservative and flavoring agent. It is also used in the production of various food products such as vinegar, pickles, and sauces. In the textile industry, it is used in the dyeing and finishing processes. In the pharmaceutical industry, it is used in the production of various drugs and medicines. In the health & personal care industry, it is used in the production of various personal care products such as cosmetics, soaps, and detergents. In the chemical industry, it is used as a raw material in the production of various chemicals.
Global Bio Based Acetic Acid Market Outlook:
The global Bio Based Acetic Acid market, valued at US$ 140 million in 2023, is projected to reach US$ 177.8 million by 2030, growing at a CAGR of 3.4% during the forecast period 2024-2030. The market is dominated by key manufacturers such as Xinyu, Sanyang, Tianguan, SEKAB, Godavari, AFYREN, Wacker Chemie, ZeaChem, and Lenzing, collectively accounting for about 65% of the market. China is the largest market, contributing to over 38% of the global share. The food industry is the most common application of bio-based acetic acid, accounting for about 90% of the usage.
| Report Metric | Details |
| Report Name | Bio Based Acetic Acid Market |
| Accounted market size in 2023 | US$ 140 million |
| Forecasted market size in 2030 | US$ 177.8 million |
| CAGR | 3.4% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | Xinyu Sanyang, Tianguan, SEKAB, Godavari, AFYREN, Wacker Chemie, ZeaChem, Lenzing |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
