GVR Report cover Bio-acetic Acid Market Size, Share & Trends Report

Bio-acetic Acid Market Size, Share & Trends Analysis Report By Application (VAM, Acetic Anhydride, Acetate Esters, PTA, Ethanol), By Region, And Segment Forecasts, 2022 - 2030

  • Report ID: GVR-4-68039-984-6
  • Number of Pages: 100
  • Format: Electronic (PDF)

Report Overview

The global bio-acetic acid market size was valued at USD 206.3 million in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 4.99% from 2022 to 2030. Increasing consumption of bio-acetic acid in the food and beverage and construction industries is a major factor driving the growth of the industry. Acetic acid derived from bio-based raw materials, such as sugar, corn, and biomass, highly influences the prices of end products such as coatings, plastics, and packaging material. The lack of raw materials to produce bio-acetic acid during the COVID-19 pandemic led manufacturers to increase the prices of the product.

 U.S. Bio-acetic Acid Market Size, by application, 2020 - 2030 (USD Million)

This trend is anticipated to continue worldwide owing to the increasing demand for bio-acetic acid from different end-use industries such as food and pharmaceuticals. The expanding demand-supply gap is also negatively impacting the growth of the bio-acetic acid market across the world, thereby increasing the prices of this acid. Moreover, the high costs incurred during the extraction and production process of bio-acetic acid are expected to influence its costs in the coming years across the world.

Increasing demand for bio-acetic acid for use in VAM, polymers, cellulose esters, resins, coatings, dyes & inks, pharmaceuticals, and textiles is expected to fuel the growth of the market. The volatility in the prices of crude oil is anticipated to impact the costs of bio-acetic acid, thereby restricting its global demand. A surge in the number of construction and infrastructure development projects worldwide, along with the increasing presence of automobile manufacturers in emerging economies of Asia Pacific, is expected to contribute to the demand for resins and coatings. This, in turn, is anticipated to drive the demand, thereby fueling the industry’s growth.

The production and usage of bio-acetic acid help in tackling the issue of climate change. It replaces petrochemicals in various applications and ensures a clean environment. This acid is produced from corn, maize, sugar, and other raw materials. Bio-acetic acid is used as a significant substitute for various chemicals. It is used to produce bio-based vinyl acetate monomer, etc. The surging usage of bio-acetic acid in various end-use applications in food & beverages, chemicals, textiles, pharmaceuticals, personal care products, and cosmetics industries is expected to fuel the growth of the market in the coming years.

The global demand for bio-acetic acid was not reduced completely during the pandemic considering its end-use applications in the pharmaceuticals industry as an antibiotic agent. Moreover, the increased focus of medical practitioners on the treatment of COVID-19 also led to stable global demand for bio-acetic acid. The industry witnessed substantial growth in 2021 and this trend is expected to continue in the coming years considering the ongoing research and development activities related to the product market for its use in the pharmaceuticals industry.

Application Insights

The VAM segment accounted for the major revenue and volume share in 2021 owing to the increasing demand for VAM from growing industries such as paints & coatings, plastic, solvents, adhesives, textiles, and more. The segment was valued at USD 91.9 Million in 2021 and is estimated to expand at a CAGR of over 5.0% over the forecast period.

VAM is a major application used in a wide range of end-use industries. It is also used to produce resins and polymers, which are used to develop paints, coatings, adhesives, etc. The most common method to produce a bio-based VAM involves the oxidization of bio-based acetic acid with ethylene in a continuous packed bed reactor using a Pd-Au catalyst supported by silica and potassium acetate as promoters.

 Global bio-acetic acid market share, by application, 2021 (%)

The increasing demand for acetic anhydride from the global pharmaceutical industry is fueling the industry’s growth. It is widely utilized for manufacturing a variety of medicines, including paracetamol. High consumption of paracetamol for fever, headaches, vomiting, body pain, etc. is contributing to the surged usage of the product worldwide. Bio-acetic anhydride is also used as a raw material to produce medicines, including theophylline, acetaminophen, cortisone, etc. The market is expected to grow as the global demand for bio-based medicines is anticipated to surge in the forthcoming years.

Additionally, the demand for PTA, polyethylene terephthalate, and dimethyl terephthalate has increased as a result of the increased usage of face shields, clear masks, food, and e-commerce packaging, which is stimulating the growth of the segment and in the future, advancements in production technologies are anticipated to present growth opportunities for the segment.

Regional Insights

Asia Pacific dominated the bio-acetic acid market by revenue and volume in 2021 owing to the presence of global multinational companies in the region with high demand from end-use markets such as food & beverages, and paints & coatings. Market in this region was valued at USD 100.7 Million in 2021 and is expected to register a CAGR of over 5.0% during the forecast period.

In Europe, the usage of the acid in paints & coatings and construction industries owing to the ongoing infrastructural development projects across countries such as Germany, France, the U.K., and Italy is expected to fuel the growth. According to a study in 2020 by the European Commission, the building and construction sector contributes a share of approximately 10% to the GDP of Europe and opens up over 20 million job opportunities for the population of the region.

Bio-acetic Acid Market Trends by Region

North America accounted for the second-largest revenue share in 2021. The paints & coating industry in North America is expected to witness substantial growth in the coming years. This is driven by the expanding construction industry in the region, which is anticipated to grow at a high rate over the forecast period. Paints and coatings are essential elements in the architecture industry for enhancing the aesthetical appeal of buildings. Paints and coatings are used in both interior and exterior applications (such as to protect the buildings from unwanted scratches, rain-soaking, and blistering walls) in the architecture industry.

Key Companies & Market Share Insights

The presence of many multinational players in the market has resulted in high competition. These companies look forward to expanding their operations in the untapped market of the world to generate higher revenues. Companies like Cargill corporation, Afyren, and LanzaTech are some of the prominent players in the industry.

Companies engaged in product manufacturing, take various initiatives to meet the rising market demand. Through these initiatives, companies seek to increase their global footprints and expand their reach to potential customers at optimum distribution costs. Companies are observed to be involved in various mergers & acquisitions, joint ventures, and expansion activities which give them a chance to reach the global market. Some prominent players in the global bio-acetic acid market include:

  • Airedale Chemicals

  • Cargill, Inc.

  • Bio-Corn Products EPZ Ltd

  • Godavari Biorefineries Ltd.

  • Sucroal SA

  • Novozymes A/S

  • LanzaTech

  • Afyren SAS

  • BTG Bioliquids

Bio-acetic Acid Market Report Scope

Report Attribute


Market size value in 2022

USD 213.9 million

Revenue forecast in 2030

USD 319.6 million

Growth rate

CAGR of 4.9 % from 2022 to 2030

Base year for estimation


Historical data

2018 - 2020

Forecast period

2022 - 2030

Quantitative units

Revenue in USD Million, Volume in Tons, and CAGR from 2022 to 2030

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Application, region

Regional scope

North America; Europe; Asia Pacific; Central & South America; Middle East & Africa

Country scope

U.S.; Canada; Mexico; Germany; U.K.; France; China; India; Japan; South Korea; Brazil; Argentina; Saudi Arabia

Key companies profiled

Airedale Chemicals; Bio-Corn Products EPZ Ltd; Godavari Biorefineries Ltd.; Sucroal SA; Cargill, Inc.; Novozymes A/S; LanzaTech; Afyren SAS; BTG Bioliquids

Customization scope

Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options


Global Bio-acetic Acid Market Segmentation

This report forecasts the volume and revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global bio-acetic acid market report based on application and region:

Global Bio-acetic Acid Market Segmentation

  • Application Outlook (Volume, Thousand Tons; Revenue, USD Million, 2018 - 2030)

    • Vinyl Acetate Monomer (VAM)

    • Acetic Anhydride

    • Acetate Esters

    • Purified Terephthalic Acid

    • Ethanol

    • Others

  • Regional Outlook (Volume, Thousand Tons; Revenue, USD Million, 2018 - 2030)

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • Germany

      • U.K.

      • France

    • Asia Pacific

      • China

      • India

      • Japan

      • South Korea

    • Central & South America

      • Brazil

      • Argentina

    • Middle East & Africa

      • Saudi Arabia

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