Bio-Acetic Acid Market Size (2024 - 2029)

The bio-acetic acid market is projected to experience growth over the forecast period, driven by the increasing demand for bio-based and renewable chemicals. Despite the negative impact of the COVID-19 pandemic on market demand due to halted construction and automotive manufacturing activities, the market has resumed its growth trajectory as production processes have restarted. Challenges such as the availability of alternatives and fluctuations in feedstock prices may impede market expansion. However, advancements in separation technologies present opportunities for enhanced production efficiency. The Asia-Pacific region holds the largest market share and is anticipated to maintain its dominance.

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Market Size of Bio-Acetic Acid Industry

Bio-Acetic Acid Market - Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR (2024 - 2029) 3.00 %
Fastest Growing Market Asia Pacific
Largest Market Europe
Market Concentration High

Major Players

Bio Acetic Acid Market Major Players

*Disclaimer: Major Players sorted in no particular order

Bio-Acetic Acid Market Analysis

The Bio-Acetic Acid Market size is estimated at 1.36 Million tons in 2024, and is expected to reach 1.65 Million tons by 2029, growing at a CAGR of greater than 3% during the forecast period (2024-2029).

The bio-acetic acid market was negatively impacted by COVID-19 in 2020. Construction activities and automotive manufacturing activities were on a temporary halt owing to the pandemic scenario, which had minimized the demand for vinyl acetate monomer used in the formulation of these end-user industry products such as adhesives, paints, coatings, plastics, and composites, in turn, negatively impacted the market demand for bio-acetic acid. However, the market retained its growth trajectory due to all the industries' resumed production processes.

Increasing demand for bio-based and renewable chemicals and vinyl acetate monomers (VAM) is expected to drive market demand during the forecast period.

On the flip side, the availability of alternatives and volatility in the feedstock availability and prices are expected to hinder the growth of the market.

Developing new separation technologies to increase production efficiency is likely to act as an opportunity for the market studied over the forecast period.

Asia-Pacific accounts for the highest market share and is expected to dominate the market during the forecast period.

Bio-Acetic Acid Industry Segmentation

Bio-acetic acid is used to process substrates in many manufacturing processes. It is also used as a chemical reagent for producing various chemical compounds such as acetic anhydride, ester, monomer vinyl acetate, vinegar, and many other polymer products.

The bio-acetic acid market is segmented by raw material, application, and geography. By raw material, the market is segmented into biomass, corn, maize, sugar, and other raw materials. By application, the market is segmented into vinyl acetate monomer, acetate esters, purified terephthalic acid, acetic anhydride, and other applications. The report also covers the market size and forecasts for the bio-acetic acid market in 27 countries across major regions. For each segment, the market sizing and forecasts are done based on volume (tons).

Raw Material
Biomass
Corn
Maize
Sugar
Other Raw Materials
Application
Vinyl Acetate Monomer (VAM)
Acetate Esters
Purified Terephthalic Acid (PTA)
Acetic Anhydride
Other Applications
Geography
Asia-Pacific
China
India
Japan
South Korea
Malaysia
Thailand
Indonesia
Vietnam
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Spain
NORDIC Countries
Turkey
Russia
Rest of Europe
South America
Brazil
Argentina
Colombia
Rest of South America
Middle East and Africa
Qatar
United Arab Emirates
Nigeria
Egypt
South Africa
Rest of Middle East and Africa
Middle East and Africa
Saudi Arabia
South Africa
Rest of Middle East and Africa
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Bio-Acetic Acid Market Size Summary

The bio-acetic acid market is poised for growth, driven by the increasing demand for bio-based and renewable chemicals, particularly vinyl acetate monomers (VAM). Despite the initial setbacks caused by the COVID-19 pandemic, which temporarily halted construction and automotive manufacturing activities, the market has regained its growth trajectory as these industries resumed operations. The Asia-Pacific region, with its significant consumption and rapid growth, dominates the market, largely due to the burgeoning demand for VAM in countries like China and India. The region's expanding construction activities further bolster the demand for acetic acid, a key component in producing paints and coatings. However, the market faces challenges such as the availability of alternatives and feedstock price volatility, which could impede its growth.

The bio-acetic acid market is characterized by a consolidated landscape with key players like LENZING AG, Godavari Biorefineries Ltd, Airedale Group, Novozymes A/S, and Sekab. These companies are actively investing in expanding production capacities to meet the rising demand. For instance, Sekab has recently expanded its production of bio-based acetic acid, aiming to reduce carbon footprints significantly. Additionally, developments in separation technologies are expected to enhance production efficiency, presenting new opportunities for market growth. The global demand for VAM, particularly in China and the United States, is a significant driver for the bio-acetic acid market, with ongoing investments in production facilities in India and China further supporting this trend.

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Bio-Acetic Acid Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Increasing Demand for Bio-based and Renewable Chemicals

      2. 1.1.2 Increasing Demand for Vinyl Acetate Monomers (VAM)

    2. 1.2 Restraints

      1. 1.2.1 Availability of Alternatives

      2. 1.2.2 Volatility in the Feedstock Availability and Prices

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Consumers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION (Market Size in Volume)

    1. 2.1 Raw Material

      1. 2.1.1 Biomass

      2. 2.1.2 Corn

      3. 2.1.3 Maize

      4. 2.1.4 Sugar

      5. 2.1.5 Other Raw Materials

    2. 2.2 Application

      1. 2.2.1 Vinyl Acetate Monomer (VAM)

      2. 2.2.2 Acetate Esters

      3. 2.2.3 Purified Terephthalic Acid (PTA)

      4. 2.2.4 Acetic Anhydride

      5. 2.2.5 Other Applications

    3. 2.3 Geography

      1. 2.3.1 Asia-Pacific

        1. 2.3.1.1 China

        2. 2.3.1.2 India

        3. 2.3.1.3 Japan

        4. 2.3.1.4 South Korea

        5. 2.3.1.5 Malaysia

        6. 2.3.1.6 Thailand

        7. 2.3.1.7 Indonesia

        8. 2.3.1.8 Vietnam

        9. 2.3.1.9 Rest of Asia-Pacific

      2. 2.3.2 North America

        1. 2.3.2.1 United States

        2. 2.3.2.2 Canada

        3. 2.3.2.3 Mexico

      3. 2.3.3 Europe

        1. 2.3.3.1 Germany

        2. 2.3.3.2 United Kingdom

        3. 2.3.3.3 Italy

        4. 2.3.3.4 France

        5. 2.3.3.5 Spain

        6. 2.3.3.6 NORDIC Countries

        7. 2.3.3.7 Turkey

        8. 2.3.3.8 Russia

        9. 2.3.3.9 Rest of Europe

      4. 2.3.4 South America

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Argentina

        3. 2.3.4.3 Colombia

        4. 2.3.4.4 Rest of South America

      5. 2.3.5 Middle East and Africa

        1. 2.3.5.1 Qatar

        2. 2.3.5.2 United Arab Emirates

        3. 2.3.5.3 Nigeria

        4. 2.3.5.4 Egypt

        5. 2.3.5.5 South Africa

        6. 2.3.5.6 Rest of Middle East and Africa

      6. 2.3.6 Middle East and Africa

        1. 2.3.6.1 Saudi Arabia

        2. 2.3.6.2 South Africa

        3. 2.3.6.3 Rest of Middle East and Africa

Bio-Acetic Acid Market Size FAQs

The Bio-Acetic Acid Market size is expected to reach 1.36 million tons in 2024 and grow at a CAGR of greater than 3% to reach 1.65 million tons by 2029.

In 2024, the Bio-Acetic Acid Market size is expected to reach 1.36 million tons.

Bio-Acetic Acid Market Report Snapshots

Bio Acetic Acid Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)