The global bio-based acetic acid market is valued to be US$ 53.9 million in 2023 and it is anticipated to grow at a CAGR of 5.3% to reach US$ 90.4 million by the end of 2033.Driven by rising consumer demand for sustainable and bio-based products, the market is gaining traction across industries such as food and beverage, pharmaceuticals, and coatings. Bio-based acetic acid, derived from renewable sources like biomass, corn, and sugar, offers an eco-friendly alternative to conventional acetic acid, supporting global efforts to combat climate change.

Bio-based acetic acid serves as a versatile chemical used as a preservative, acidity regulator, and raw material in various applications. Its production helps reduce reliance on fossil fuels, promoting a cleaner environment. The market is poised for growth due to increasing applications in vinyl acetate monomer (VAM) production, which is critical for coatings, adhesives, and packaging materials.

The global bio-based acetic acid market is primarily driven by growing consumer preference for sustainable products, stringent environmental regulations encouraging the shift from fossil-based chemicals, and rising demand from end-use industries such as food, pharmaceuticals, and construction. The increasing use of bio-acetic acid in the production of VAM, a key ingredient in coatings and adhesives, further fuels market expansion.

Key Takeaways from Market Study

• Global bio-based acetic acid market to reach US$ 90.4 million by 2033.
• Vinyl acetate monomer (VAM) segment to dominate market share through 2033.
• Market in Asia Pacific to record a significant revenue share of 33% by 2037.
• Market in China forecast to reach a valuation of US$ 15 million by 2033.

“Rising consumer demand for bio-based products, coupled with increasing regulatory pressure to reduce fossil fuel dependency, is expected to propel the bio-based acetic acid market over the next decade,” says a Fact.MR analyst.

Winning Strategy

Key market players are investing in research and development to create cost-effective production methods for bio-based acetic acid. Companies are also expanding their supply chains in emerging economies to meet growing demand. Strategic partnerships and collaborations are common, enabling firms to enhance their product portfolios and market presence.

For instance,

• On March 23, 2021, AFYREN secured a long-term procurement contract with Sudzucker, a leading European sugar producer, to supply sugar beet co-products for its NEOXY plant, set to produce bio-based acetic acid by the end of 2021.
• Godavari Biorefineries, in collaboration with Praj Industries, plans to expand its ethanol manufacturing capacity from 400 KLPD to 600 KLPD using sugarcane syrup, supporting bio-based acetic acid production.

More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the global bio-based acetic acid market, presenting historical demand data (2018-2022) and forecast statistics for the period of 2023-2033. The study provides essential insights on the market based on raw material (biomass, corn, maize, sugar), application (vinyl acetate monomer, acetate esters, acetic anhydride, purified terephthalic acid), and end-user (food and beverage, pharmaceuticals, coatings, textiles), across five major regions (North America, Europe, Asia Pacific, Latin America, and MEA).

Key Companies Profiled

• Godavari Biorefineries Ltd.
• LENZING AG
• Airedale Group
• Novozymes A/S (Novonesis Group)
• Sekab
• AFYREN
• Praj Industries

Industry News

• In August 2016, Technip signed a cooperation agreement with BTG BioLiquids to provide engineering, procurement, and construction services for modular pyrolysis plants, enhancing bio-based chemical production capabilities.
• The bio-acetic acid market is witnessing increased investment in Asia Pacific, with the region expected to hold a 33% revenue share by 2037, driven by pharmaceutical production growth.

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