The Global Bio-organic Acid Market has been estimated at USD billion in 2015 and is projected to reach USD billion by 2020, at a CAGR of during the forecast period. Bio-organic acids are produced from the fermentation of microorganism and are used commercially such as catalysts, surfactants, and dyes. They are produced from bio-based raw materials such as corn, maize, sugar, and biomass.
Bio-organic Acid can be used for various applications such as petrochemicals, coatings, healthcare, textile, food, and others. Bio-organic Acid are extensively used in the healthcare applications, accounting for a share of in 2015.The report is also segmented based on the raw material usage into: corn, maize, sugar, biomass and others.
In terms of product type the market is segmented into: Bio-lactic acid, bio-acetic acid, bio-succinic acid, bio-adipic acid, bio-acrylic acid, and others. Bio-lactic acid is the fastest growing products in the market growing at a CAGR of .In terms of revenue the acetic acid segment leads the market accounting for a share of.
The market is driven by rising crude oil prices, demand from healthcare industry, and stringent government regulations. However, this market faces certain drawbacks such as shortage of raw material and the huge competition form fossil-fuel products.
Europe is the leading consumer of Bio-organic Acid in 2015 accounting for a share of XX%, followed by APAC and North America. The Bio-organic Acid market in Europe will grow at a high rate during the forecast period owing to the huge demand from the healthcare industry. The market will grow at a healthy pace during the forecast period.
Furthermore, the shifting focus towards eco-friendly products will offer numerous opportunities in the growth of the Bio-organic Acid market. Some of the major companies dominating the market with its products, and continuous product developments are BASF, Braskem , BioAmber, DSM, Myriant, and Genomatica.
Key Deliverables in the Study
1) Market analysis for the Global Bio-Organic Acid Market , with region specific assessments and competition analysis on global and regional scales
2) Market definition along with the identification of key drivers and restraints
3) Identification of factors instrumental in changing the market scenarios, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale
4) Extensively researched competitive landscape section with profiles of major companies along with their market shares
5) Identification and analysis of the macro and micro factors that affect the Global Ceramic Coating market on both global and regional scales
6) A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information
7) A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market
8) Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
By PIRO4D from Pixabay