PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1215309
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1215309
Global Bio-acetic Acid Market is valued at approximately USD 206.3 million in 2021 and is anticipated to grow with a healthy growth rate of more than 4.99% over the forecast period 2022-2029. Bio-based acetic acid is a colorless liquid with a sour taste and pungent smell that is formed from lignocellulosic biomass through a bioconversion method. Factors such as rising usage of bio-based Vinyl Acetate Monomer (Vam), stringent government regulations over conventional acetic acids, and increasing globalization and industrialization are accelerating the growth of the market.
The increasing application of bio-acetic anhydride in the global pharmaceutical industry is acting as a key driving factor for market growth around the world. As per the Statista analysis, in 2020, the total expenditure on pharmaceutical research and development accounted for USD 198 billion, which is anticipated to reach USD 254 billion by the year 2026. Accordingly, the rising emphasis on pharmaceutical research and development is exhibiting a positive influence on the growth of the bio-acetic acid market. Moreover, increasing prices of crude oil and rising demand for personal care products and the textile industry are presenting various growth prospects over the forecasting years. However, scarcity and social constraints for raw materials and rising environmental concerns regarding the harmful effects are hindering market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Bio-acetic Acid Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. The Asia Pacific dominated the space in terms of revenue, owing to the thriving growth of the end-use industries and ongoing infrastructural development projects in countries such as India and China. Whereas, North America is expected to grow significantly during the forecast period. Factors such as a rising focus on enhancing the aesthetical appeal of buildings and growing requirement for bio-based chemicals are burgeoning the market growth in the forecasting years.
Recent Developments in the Market:
The objective of the study is to define the market sizes of different segments & countries in recent years and to forecast the values for the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within the countries involved in the study.
The report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with a detailed analysis of the competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
List of figures
List of tables and figures and dummy in nature, final lists may vary in the final deliverable