Bio-acetic Acid Market Size, Share & Trends Analysis Report By Application (Vinyl Acetate Monomer, Acetic Anhydride, Acetate Esters, Ethanol), By Region, And Segment Forecasts, 2023 - 2030

Research Methodology

A three-pronged approach was followed for deducing the bio-acetic acid market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for bio-acetic acid market to gather the most reliable and current information possible.

• We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
• We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
• We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
• We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
• We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of bio-acetic acid market data depending on the type of information we’re trying to uncover in our research.

• Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

• Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

• Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

• Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

• Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

• Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

• This step also entails the finalization of the report scope and data representation pattern.

• Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Bio-Acetic Acid Market Categorization:

The bio-acetic acid market was categorized into four segments, namely application (Vinyl Acetate Monomer, Acetic Anhydride, Acetate Esters, Purified Terephthalic Acid, Ethanol), and regions (North America, Europe, Asia Pacific, Central & South America, Middle East & Africa).

Segment Market Methodology:

The bio-acetic acid market was segmented into application, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

• Demand estimation of each product across countries/regions summed up to from the total market.

• Variable analysis for demand forecast.

• Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

• Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

• Used extensively for new product forecasting or analyzing penetration levels.

• Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

• Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

• This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The bio-acetic acid market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into sixteen countries, namely, the U.S.; Canada; Mexico; Germany; UK; France; China; India; Japan; South Korea; Brazil; Argentina; Saudi Arabia; Qatar; Egypt; South Africa

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Bio-Acetic acid market companies & financials:

The bio-acetic acid market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

• Airedale Chemicals Airedale Chemicals is a general chemical manufacturer and supplier based in the UK. The company is recognized as one of the prominent players in the industry. Founded in 1973, it has been serving demand for chemicals for more than five decades. The company is mainly involved in the production of industrial chemicals, phosphates, phosphonates, and surfactants. It has production facilities stretched across 4 acres and a capacity to manufacture and supply more than 80,000 Kilotons per year. The company has six warehouses coupled with facilities such as bespoke designed, temperature control, and computerized stock management. It operates in segments such as agrochemical, cleaning chemical & detergents, energy & waste management, oil & gas, and others. The company’s product portfolio includes antifoams, disinfectants, general chemicals, phosphates, polymers, solvents, and more.

• Bio-Corn Products EPZ Ltd. Bio-Corn Products EPZ Ltd. is a chemical manufacturing company particularly known as Africa’s most innovative company utilizing waste to create sustainable products. The company harnesses waste corncob as its principal raw material for use in the production of chemicals. It employs more than 60 personnel and operates only in Kenya, Africa. The company is primarily involved in manufacturing products such as furfural, acetic acid, formic acid, and other products, which are considered as substitutes to more toxic petrochemicals. Its product line caters to a range of industries such as oil & gas, aviation, automobile, agriculture, industrial, and more. The company is expected to produce over 5,000 Kilotons of furfural and 2,500 Kilotons and 400 Kilotons of acetic acid and formic acid, respectively.

• GODAVARI BIOREFINARIES LTD. Godavari Biorefineries Ltd. is an Indian manufacturing company involved in producing organic chemicals, specialty chemicals, biofertilizers, power, industrial alcohol, and more. Established in 1939, it is one of the oldest chemical manufacturers in Asia Pacific. It was formerly named as The Godavari Sugar Mills Ltd. The company is capable of producing over 101,197 Kilotons of bio based chemicals per year. It offers a diversified product portfolio, which includes chemicals, sugar, alcohol, hand sanitizers, naturowax, agricultural products, renewable energy, and more. The company renders its services to an array of industries such as agriculture, biofuel, electronic, flavor, food & beverage, oil & gas, paint, pharmaceuticals, and many more. Its offices are located in India, the Netherlands, and the U.S.

• Sucroal SA Sucroal SA is a basic chemical manufacturing company engaged in the production of raw materials for industrial and human solutions. It is headquartered in Columbia and has a presence in over 20 countries all across the globe. The company employs more than 500 personnel across its locations and generates revenue of over USD 110 million worldwide. Its business is primarily categorized into human solutions and industrial solutions. The company’s portfolio comprises products for human solutions, such as acid and salts, non-GMO liquids, starches, fibers, and sweeteners, and products for industrial solutions such as organics acids, alcohols, retardant solvents, plasters, liquid fertilizers, and more.

• Cargill, Inc. Cargill, Inc. is a U.S.-based privately held manufacturer of chemicals, food, and industrial products. The company has over 150 years of experience serving quality products across the world. It is operational in 70 countries worldwide. The company is organized into segments such as additive chemicals, agriculture, food, and industrials. Its major products are bio-chemicals, grain & oilseeds, animal nutrition & health, oils, fats & foods, and metals.

• Novozymes A/S Novozymes A/S is a biotechnology firm that provides biological solutions while preserving the plant’s essential resources. The company is mainly focused on the production of biopharmaceutical ingredients, industrial enzymes, and microorganisms. It operates through 16 plants in multiple locations on 4 continents. The company has integrated fermentation techniques as its core part of the process. It provides business solutions to industries such as animal health, bio agriculture, bioenergy, fine chemicals, human health, leather & textiles, and more.

• LanzaTech LanzaTech is a manufacturing firm, which utilizes carbon recycling technology for the production of fuel and chemicals. The company primarily operates through segments such as ethanol, fuels, and high-value chemicals, which directly serve a range of industries such as industrial, energy, oil & gas, agriculture, food & beverage, flavor & fragrance, and many more. According to its recent announcement, it aims to develop and commercialize CO2–based acetic acid using waste carbon dioxide. The company is organized in North America and Asia Pacific and operates in countries such as the U.S., China, India, and New Zealand. Its total production capacity is over 46,000 Kilotons per year. The company exports its products worldwide and generates annual revenue of over USD 114 million.

• Afyren SAS Afyren SAS is a biotechnology firm specialized in developing non-food biomass products by replacing petroleum-based ingredients. The company is mainly engaged in producing a family of all seven biosourced organic acids and fertilizers. Afyren is primarily involved in producing and supplying acetic acid, propionic acid, butyric acid, isobutyric acid, isovaleric acid, valeric acid, and hexanoic acid. Along with these, the company also produces and sells lubricants and functional fluids for aerospace, electronic devices, and electric vehicles. It has innovated technologies such as an organic approach, a green chemistry approach, and an eco-circular approach for producing sustainable products. The company operates in three locations in France only and distributes its products worldwide.

• BTG Bioliquids BTG Bioliquids is a bio-liquids manufacturer primarily involved in the production of bio-based chemicals and oil & gas exploration & services. The company has implemented a technology that uses residual waste to develop pyrolysis oil. This technological process typically involves four steps such as biomass drying and feeding, mixing and condensing, closed sand loop and reheating, and heat recovery and minerals. The company has production plants in the Netherlands, Finland, and Sweden. Its product portfolio comprises sustainable transport fuels, bio-based chemicals, and heat, which are offered to automotive, energy, construction, and commercial sectors. The company is primarily organized in segments such as refinery, petrochemicals, oil & gas.

Value chain-based sizing & forecasting

Supply Side Estimates

• Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

• Segment revenue determination via variable analysis and penetration modeling.

• Competitive benchmarking to identify market leaders and their collective revenue shares.

• Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

• Identifying parent markets and ancillary markets

• Segment penetration analysis to obtain pertinent

• revenue/volume

• Heuristic forecasting with the help of subject matter experts

• Forecasting via variable analysis

Bio-Acetic Acid Market Report Objectives:

• Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

• Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

• Understanding market estimates and forecasts (with the base year as 2022, historic information from 2018 - 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Bio-Acetic Acid Market Report Assumptions:

• The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

• The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

• We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

• All market estimates and forecasts have been validated through primary interviews with the key industry participants.

• Inflation has not been accounted for to estimate and forecast the market.

• Numbers may not add up due to rounding off.

• Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

• Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

• Latin America includes Central American countries and the South American continent

• Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

• Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

• Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.