Brooklyn, New York, Dec. 05, 2023 (GLOBE NEWSWIRE) -- According to a new market research report published by Global Market Estimates, the global bio carboxylic acids market is expected to grow at a CAGR of 6.6% from 2023 to 2028.
Bio-based carboxylic acids offer renewable sourcing, lower carbon footprint, biodegradability, versatility across industries, and reduced toxicity and health benefits. They are derived from renewable biomass, generate fewer greenhouse gas emissions, and are more biocompatible, making them safer for certain applications.
Browse 147 Market Data Tables and 115 Figures spread through 163 Pages and in-depth TOC on “Global Bio Carboxylic Acids Market - Forecast to 2028’’
Key Market Trends
- Growing Demand for Sustainable Products: The increasing awareness of environmental issues and the demand for sustainable products have driven interest in bio-based alternatives to traditional chemicals.
- Government Initiatives and Regulations: Supportive government policies and regulations promoting the use of bio-based products have contributed to market growth.
- Advancements in Biotechnology: Advances in biotechnological processes have enhanced the production efficiency of bio carboxylic acids.
- Cost Competitiveness: The cost of production compared to traditional petrochemical-based acids can be a challenge for bio carboxylic acids to compete in certain markets.
- Scale-Up Challenges: Achieving large-scale production while maintaining cost-effectiveness and sustainability is a common challenge.
Key Market Insights
- As per the type outlook, the acetic acid segment is expected to be the largest segment during the forecast period
- As per the application type outlook, the polymer segment is projected to be the largest segment during the forecast period
- Asia Pacific region is analyzed to be the fastest-growing region in the market
- North America is analyzed to account for the largest share of the global market during the forecast period from 2023-2028
- Key players operating in the global bio carboxylic acids market include LCY GROUP (BioAmber), NatureWorks, BASF SE, Cargill Inc., Mitsubishi Chemicals, Chem Lenzing, AFYREN, DSM Chemicals, SEKAB, and Corbion, among others
Request for a Sample Copy of the Report: https://www.globalmarketestimates.com/market-report/bio-carboxylic-acids-market-4276
By End-use Industry (Revenue, USD Billion, 2023-2028)
- Chemicals
- Plastics
- Pharmaceuticals
- Food and Beverage
- Agriculture
- Cosmetics
- Others
By Type (Revenue, USD Billion, 2023-2028)
- Acetic Acid
- Valeric Acid
- Iso-valeric Acid
- Butyric Acid
- Iso-butyric Acid
- Caproic Acid
- Others
By Application Type (Revenue, USD Billion, 2023-2028)
- Polymers
- Solvents
- Food Additives
- Pharmaceutical Intermediates
- Personal Care Products
- Animal Feed
- Others
By Regional Outlook (Revenue, USD Billion, 2023-2028)
North America
- U.S.
- Canada
- Mexico
Europe
- Germany
- U.K.
- France
- Spain
- Italy
- Netherlands
- Rest of Europe
Asia Pacific
- China
- India
- Japan
- South Korea
- Thailand
- Indonesia
- Malaysia
- Singapore
- Vietnam
- Rest of APAC
Central and South America
- Brazil
- Argentina
- Chile
- Rest of CSA
Middle East and Africa
- Saudi Arabia
- UAE
- Israel
- South Africa
- Rest of MEA
Contact: Yash Jain
Director - Global Accounts & Strategic Advisory
Email address: yash.jain@globalmarketestimates.com
Phone Number: +1 6026667238
LinkedIn: https://www.linkedin.com/in/yash-jain-global-market-estimates/
Website: www.globalmarketestimates.com
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