Bio-Based Acrylic Acid Market - Global Industry Analysis, Size, Growth, Trends, and Forecast 2017 - 2025
According to a new report published by Reports Monitor titled, “Bio-based Acrylic Acid Market By Source, and Applications: Global Opportunity Analysis and Industry Forecast, 2017–2025,” the Bio-based Acrylic Acid Market was valued at XX million in 2016, and is projected to reach at XX million by 2025, growing at a CAGR of XX% from 2017 to 2025. North America dominates the Bio-based Acrylic Acid Market, both in terms of volume and value, and is expected to maintain this trend throughout the forecast period.
Acrylic Acid is a commodity chemical which has been historically made from petroleum. But now it can be made from bio-mass which is widely used in a wide variety of commercial and consumer products. The world’s consumption of acrylic acid has been booming and uncertain conditions in the Middle East are driving up the oil prices. As a result of which the chemical industry has started to search for a biological alternative to petroleum based acrylic acid.
Bio based acrylic acid can be manufacture by using glucose, glycerol and raw sugar. Increased focus on green ways has pushed companies towards the development of bio-acrylic acid. Favorable governments regulations to adopt renewable and sustainable sources is likely to support companies in bio based acrylic acid market. Bio based acrylic acid market has witnessed joint-ventures and key-partnership development over the past few years to utilize knowledge and experience of technology developers. Dow & OPXbio and Cargill & Novozymes are the examples of such partnerships, engaged in development of bio based acrylic acids.
Bio-based Acrylic Acid Market has been segmented majorly on the basis of Source (Glucose, Glycerol and Raw Sugar), Applications (Adhesives, Personal Care Products, Plastic Additives, Surfactants & Surface coatings and others).
Asia Pacific is expected to be largest market for bio based acrylic acids. India and China are dominating this region with high consumption in personal care products, adhesives, surfactants and others.
Key Question Answered:
• What will be the market size in 2025 and at what rate it will grow?
• What trends, barriers, challenges are influencing its growth?
• Who are the major key players in Global Bio-based Acrylic Acid Market and what are their strategies?
• Which vertical industry is expected to show major growth?
• What segment and region will lead the market and why?
The major companies profiled in the report include: Akema, BASF, ChemChina, CNPC, DOW Dupont, Formosa, Hexion, Idemitsu Kosan, Jurong Chem, LG Chem, Mitsubishi Chem and Nippon Shokubai.
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