Global Market For Bio-Based Acetic Acid Is Forecast To Expand At A CAGR Of 5% Over 2021-2031
– Bio-based acetic acid usage in food products is forecast to register a CAGR of 5.9% and be valued at US$ 30 Mn by 2031-end. – Textile industry end use is expected to hold 12.2% market value share by 2031-end, but is anticipated to lose 51 BPS in its market share by then. – Chemical production is anticipated to capture 28.7% market value share by 2031-end, and is projected to gain 114 BPS.
– Afyren – BTG Bioliquids – Godavari Biorefineries Ltd. – Lenzing AG – SEKAB – Wacker Chemie AG – Zeachem
“Rising inclination towards sustainability and focus on strengthening the bio-based economy are anticipated to open new opportunities for bio-based acetic acid manufacturers,” says a Fact.MR analyst.