The market for bio-organic acid is expected to register significant growth during the forecast period, 2018 to 2023.This tremendous growth is significantly driven by increase in the number of stringent regulations over conventional organic acids.
Stringent Regulations over Conventional Organic Acids
The market for bio-organics acids is majorly driven by the stringent environmental regulations imposed by regulatory bodies of various countries on conventional organic acid producers. Organic acids can serve as platform chemicals for the production of polymers, food, coatings, lubricating oils, pharmaceuticals, cosmetics, solvents, and other materials. Currently, bio-organic acids are gaining significance as a replacement for conventional organic acids, owing to their renewability and eco-friendly nature, which is a key to the increasing market share of bio-organic acid to in the global bio-organic acid market over the forecast period.
Bio-lactic Acid Segment to Dominate the Market Growth
Among the product types, bio-lactic acid has the highest growth rate in the global bio-organic acid market. Lactic acid is majorly used to produce Poly Lactic Acid (PLA), which has significant demand from various end-user industries, like packaging, healthcare, and textiles. Bio-lactic acid is also being extensively used to produce the polymer PLA, which is the preferred plastic for 3D printing. The immensely growing PLA market is further helpful to fuel the market growth for bio-lactic acid, which, in turn, drives the demand for bio-organic acid, globally, in the near future.
Asia-Pacific to Ignite the Market Growth
Though Europe is the largest regional market for global bio-organic acid, Asia-Pacific is also an important market as it represents the fastest-growing regional market. The increasing demand from healthcare, food & beverage, and textile industries of countries, like China, India, Thailand, and Korea are, in turn, providing great opportunity for the bio-organic acid market to continue its fast pace of growth. Moreover, since the product is an intermediate and is bio-degradable in nature, it has been widely accepted by the industries for various purposes, such as polymer resins. The large market size, with its huge growth in the Asia-Pacific region, is instrumental in the expansion of the global bio-organic acid market.
Key Developments in the Market
- August 2017: The discovery of the Monascus ruber micro-organism proved to be the crucial step in producing organic acids in large-scale industrial fermentation processes.
- August 2017: BioAmber bought the bio-based acid plant, which is located in Sarnia in Canada, as part of a joint venture with Mitsui.
Major Players: BASF Corporation, Myriant Corporation, BioAmber Inc., Koninklijke DSM N.V., and Braskem, among others.
Reasons to Purchase the Report
- Identify the current and future trends of the global bio-organic acid market in the developed and emerging markets
- Analyze various perspectives of the market with the help of Porter’s five forces analysis
- Information of the segment that is expected to dominate the market
- Identify the region that is expected to witness the fastest growth during the forecast period
- Identify the latest developments, market shares, and strategies employed by the major market players
- 3-month analyst support, along with the Market Estimate sheet (in excel)
Customization of the Report
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1.1 Research Phases
1.2 Study Deliverables
1.3 Scope of the Report
2. Executive Summary
3. Market Insights
3.1 Industry Value-Chain Analysis
3.2 Industry Attractiveness – Porter’s Five Forces Analysis
3.2.1 Bargaining Power of Suppliers
3.2.2 Bargaining Power of Consumers
3.2.3 Threat of New Entrants
3.2.4 Threat of Substitute Products and Services
3.2.5 Degree of Competition
3.3 Technological Snapshot
4. Market Dynamics
4.1.1 Stringent Regulations Over Conventional Organic Acids
4.1.2 Growing Demand for Bio-based Polymer in Healthcare Applications
4.1.3 Depleting Sources of Conventional Raw Materials
4.2.1 Higher Production Cost of Bio-based Chemicals
4.2.2 Scarcity of Raw Materials
4.3.1 Shifting Focus Towards Eco-Friendly Products
4.3.2 Demand from Emerging Economies
4.3.3 Technological Advancements
5. Market Segmentation and Analysis (Market Size, Growth and Forecast)
5.1 By Raw Material
5.2 By Product Type
5.2.1 Bio Lactic Acid
5.2.2 Bio Acetic Acid
5.2.3 Bio Adipic Acid
5.2.4 Bio Acrylic Acid
5.2.5 Bio Succinic Acid
5.3 By Application
6. Regional Analysis (Market Size, Growth and Forecast)
6.1 North America
6.1.1 United States
6.1.4 Rest of North America
6.2.2 United Kingdom
6.2.6 Rest of Europe
6.3.4 South Korea
6.3.5 ASEAN Countries
6.3.6 Rest of Asia-Pacific
6.4 South America
6.4.3 Rest of South America
6.5 Middle East & Africa
6.5.1 South Africa
6.5.2 Saudi Arabia
6.5.3 Rest of Middle East & Africa
7. Competitive Landscape
7.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
7.2 Market Share Analysis**
7.3 Strategies Adopted by Leading Players
8. Company Profiles (Overview, Financials**, Products & Services and Recent Developments)
8.1 BASF Corporation
8.2 BioAmber Inc
8.6 Dairen Chemical Corporation
8.8 GF Bio-chemicals
8.9 Koninklijke DSM N.V.
8.10 Metabolix, Inc.
8.11 Mitsubishi Chemicals
8.12 Myriant Technologies
8.13 NatureWorks LLC
8.15 Royal Cosun
*list not exhaustive
** subject to availability on public domain