Bio-Acrylic Acid Market worth $0.9 billion in 2027 Globally, at a CAGR of 15.6%, says MarketsandMarkets™

By GlobeNewswire On Sep 25, 2023

Chicago, Sept. 25, 2023 (GLOBE NEWSWIRE) — The Bio-Acrylic Acid market is estimated to be worth USD 0.4 billion in 2022 and is projected to reach 0.9 billion by 2027, at a CAGR of 15.6%, as per the recent study by MarketsandMarkets™. Bio-acrylic acid is considered a more sustainable and environmentally friendly alternative to traditional acrylic acid, as it reduces the dependence on non-renewable resources and can potentially reduce greenhouse gas emissions associated with traditional acrylic acid production. It is used in a variety of applications, including the production of plastics, coatings, adhesives, and superabsorbent polymers.

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List of Key Players in Bio-Acrylic Acid Market:

Arkema SA (France)
BASF SE (Germany)
LG Chem Ltd. (Korea)
China Petroleum and Chemical Corporation (China)
NIPPON SHOKUBAI CO., LTD(Japan)
The Dow Chemical Company (US)
Evonik Industries AG (Germany)
SIBUR (Russia)

Drivers, Opportunities and Challenges in Bio-Acrylic Acid Market:

Drivers: Rapid expansion and growing applications of superabsorbent polymers
Restraint: High production cost
Challenges: Competition from traditional acrylic acid
Opportunity: Opportunities with new applications

Key Findings of the Study:

By Type, the Butyl Acrylate segment accounted for the largest share of the Bio-Acrylic Acid Market in 2022.
By Application, sanitary products segment projected to register a highest CAGR during forecast period.

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Bio-acrylic acid is a type of acrylic acid that is produced from renewable, plant-based sources rather than from petroleum-based feedstocks. It is a colorless liquid with a pungent, vinegar-like odor and is commonly used in the production of various products, such as adhesives, coatings, and plastics. Bio-acrylic acid is typically made using a fermentation process that utilizes microorganisms to convert plant-based sugars into acid. This process is considered more sustainable and environmentally friendly than traditional methods of producing acrylic acid, which relies on non-renewable resources and can have a significant carbon footprint. As such, bio-acrylic acid is often viewed as a promising alternative to traditional acrylic acid, particularly in industries that are seeking to reduce their reliance on fossil fuels and move towards more sustainable practices.

The major applications of Bio-Acrylic Acid include Paints and coatings, surfactants, adhesives and sealants, textiles, sanitary products, and other applications such as water treatment, detergents, plastic additives, paper treatment, and flocculants.

The Bio-Acrylic Acid Market has been segmented based on, by type, is segmented into methyl acrylate, ethyl acrylate, butyl acrylate, elastomers, 2-ethylhexyl acrylate, and superabsorbent polymers. The Bio-Acrylic Acid Market, by application is segmented into Paints and coatings, surfactants, adhesives and sealants, textiles, sanitary products, and other. The main forces behind the growth of the Bio-Acrylic Acid Market are increasing focus on reducing carbon emissions and more sustainable alternative to acrylic acid.

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The Global bio-acrylic acid market is segmented into four key regions: North America, Europe, the Asia Pacific, and the Rest of the World. Asia Pacific is the largest market for bio-acrylic acid, accounting for a share of 36.2% of the global market, in terms of volume, in 2022. The Asia Pacific is one of the leading consumers of bio-acrylic acid due to the increasing demand from developing countries. The increasing demand for paints & coatings and sanitary products, along with a rise in the population, will drive the bio-acrylic acid market in the region.

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