Global Bio-Acrylic Acid Market Report 2023: Increasing Demand for More Sustainable and Environmentally Friendly Products Boosts Growth
Dublin, May 03, 2023 (GLOBE NEWSWIRE) -- The "Global Bio-Acrylic Acid Market by Type (Methyl Acrylate, Ethyl Acrylate, Butyl Acrylate, Elastomers, 2-Ethylhexyl Acrylate, Superabsorbent Polymers), Application and Region - Forecast to 2027" report has been added to * ResearchAndMarkets.com's* offering.
The Bio-Acrylic Acid Market is projected to grow from USD 0.4 billion in 2022 to USD 0.9 billion by 2027, at a CAGR of 15.6% during the forecast year.
The market for bio-acrylic acid is expected to grow in the coming years as companies and consumers continue to place greater emphasis on sustainability and the use of renewable resources.
High production cost is one of the major problems the bio acrylic acid market is experiencing. To address the high production cost of bio-acrylic acid, research and development are being conducted to improve production processes and reduce production costs.
*By Type, Methyl Acrylate segment projected to register second highest CAGR during the forecast period*
Bio-acrylic acid can be converted to methyl acrylate through a chemical process called esterification. Esterification involves the reaction of an acid (in this case, bio-acrylic acid) with an alcohol (such as methanol) in the presence of a catalyst, typically sulfuric acid. The reaction produces an ester, methyl acrylate, and water as byproducts. The esterification of bio-acrylic acid to methyl acrylate is a key step in the production of various bio-based polymers, including poly (methyl methacrylate) (PMMA) and other acrylate-based polymers. These polymers have a wide range of applications in various industries, including automotive, construction, medical, and electronics.
Several companies and research institutes are working on developing new and innovative technologies to produce bio-based acrylic acid and its derivatives, including methyl acrylate. These technologies include fermentation-based and chemical catalysis-based processes. They offer the potential to produce bio-based chemicals in a more sustainable and eco-friendly way.
*By Application, Adhesives and sealants segment projected to register third highest CAGR during the forecast period*
The use of bio-acrylic acid in adhesives and sealants provides a promising opportunity to develop more sustainable and environmentally friendly products, which can help meet the increasing demand for eco-friendly solutions in various industries such as construction, automotive, and aerospace. By utilizing bio-based raw materials, manufacturers can reduce their reliance on traditional petroleum-based chemicals, lower their carbon footprint, and contribute to a more circular and sustainable economy. Overall, the incorporation of bio-acrylic acid in adhesives and sealants aligns with the current trend toward sustainability and eco-friendliness in the market.
*Europe Bio acrylic acid market is projected to register second highest CAGR during the forecast period*
The countries considered under the European bio-acrylic acid market in this study include France, Germany, and the Netherlands. In France, a company called Carbios is developing a technology for the production of bio-acrylic acid from plant-based waste, while in Germany, the Fraunhofer Institute for Microengineering and Microsystems is conducting research on the production of bio-based acrylic acid. The Netherlands is also home to a number of companies that are involved in the development of bio-based chemicals, including bio-acrylic acid. However, it is important to note that the bio-acrylic acid market is still in its infancy in Europe, and it may take some time for it to gain wider adoption and market acceptance.
The market in Europe is expected to be driven by the expansion of end-use applications for bio-acrylic acid. Acrylics possess properties that make them superior to other polymers; they are suitable for a wide range of applications in a host of industries. The unique properties of SAPs and water treatment polymers are driving their demand in the bio-acrylic acid market. The demand is projected to increase further during the forecast period with the increasing need in end-user industries for high-performance emulsions, especially in key applications such as surface coatings and adhesives.
*Market Dynamics*
Drivers
· Increasing Demand for More Sustainable and Environmentally Friendly Products
· Rapid Expansion and Growing Applications of Superabsorbent Polymers
· Favorable Government Regulations
Restraints
· High Production Costs
· Technical Restraints
Opportunities
· Increasing Demand in Emerging Economies
· Opportunities with New Applications
Challenges
· Competition from Traditional Acrylic Acid
*Key Attributes:*
*Report Attribute* *Details*
No. of Pages 159
Forecast Period 2022 - 2027
Estimated Market Value (USD) in 2022 $0.4 Billion
Forecasted Market Value (USD) by 2027 $0.9 Billion
Compound Annual Growth Rate 15.6%
Regions Covered Global
*Key Topics Covered:*
*1 Introduction*
*2 Research Methodology*
*3 Executive Summary*
*4 Premium Insights*
*5 Market Overview*
*6 Bio-Acrylic Acid Market, by Type*
6.1 Introduction
6.2 Methyl Acrylate
6.2.1 Advancements in Sustainable Production and Consumption of Methyl Acrylate to Support Market Growth
6.3 Ethyl Acrylate
6.3.1 Need for Sustainable Manufacturing to Drive Use of Bio-Acrylic Acid in Production of Ethyl Acrylate
6.4 Butyl Acrylate
6.4.1 Largest Market for Bio-Acrylic Acid in Terms of Value and Volume
6.5 2-Ethylhexyl Acrylate
6.5.1 Low Reactivity and Volatility to Drive Demand for 2-Eha
6.6 Elastomers
6.6.1 Production of Elastomers from Bio-Acrylic Acid Involves Copolymerization with Other Monomers
6.7 Superabsorbent Polymers
6.7.1 Used in Wide Range of Applications, Including Hygiene Products and Agricultural Applications
6.8 Other Types
6.8.1 Specialty Acrylate
6.8.2 Benzyl Acrylate
6.8.3 Hydroxypropyl Acrylate
6.8.4 Water Treatment Polymers
6.8.5 Acrylic Polymers
6.8.6 Ammonium Polyacrylate
6.8.7 Polycyanoacrylate
*7 Bio-Acrylic Acid Market, by Application*
7.1 Introduction
7.2 Paints and Coatings
7.2.1 Eco-Friendly and Sustainable Alternatives to Petroleum-based Products
7.3 Adhesives and Sealants
7.3.1 Help to Meet Increasing Demand for Eco-Friendly Solutions in Various Industries
7.4 Surfactants
7.4.1 Offer Several Advantages Over Traditional Surfactants Derived from Petroleum
7.5 Textiles
7.5.1 Growing Trend of Sustainability and Eco-Friendliness to Drive Market
7.6 Sanitary Products
7.6.1 Demand for Sustainable Hygiene Products to Support Market Growth
7.7 Other Applications
7.7.1 Adult Incontinence and Other Personal Care Products
7.7.2 Water Treatment (Dispersants, Antiscalants, and Thickeners)
7.7.3 Mineral Processing
*8 Bio-Acrylic Acid Market, by Region*
*9 Competitive Landscape*
*10 Company Profiles*
*11 Appendix*
*Companies Mentioned*
· Archer-Daniels-Midland Company
· Arkema SA
· BASF SE
· Cargill, Incorporated
· China Petroleum and Chemical Corporation
· Evonik Industries AG
· LG Chem Ltd.
· Mitsubishi Chemical Holdings Corporation
· NIPPON SHOKUBAI Co. Ltd.
· Novozymes
· Polysciences, Inc.
· Sasol Limited
· Saudi Acrylic Monomer Company Limited
· Taixing Jurong Chemical Co. Ltd.
· The Dow Chemical Company
· The Lubrizol Corporation
· Toagosei Co. Ltd.
· Zhejiang Satellite Petrochemical Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/law0j8
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*Attachment*
· Global Bio-Acrylic Acid Market
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