BIOMASS, BIOENERGY AND RENEWABLE CHEMISTRY
Bio-based acetic acid market to witness remarkable gains over 2017-2024, U.S. to drive the regional industry trends
The global acetic acid market is witnessing a major upswing with the growing utilization trend of this acid as a raw material to produce purified terephthalic acid (PTA) and vinyl acetate monomer (VAM). Acetic acid is used as an intermediate in formulating polyester, coatings, greases, and sealants which are widely used in textiles, automotive, packaging, paints & coatings, and electronic industries. The overall acetic acid market is certain to generate lucrative avenues, owing to its rising application scope in aforementioned industries. A report on Acetic Acid Market predicts the industry to register an annual growth rate of 8.7% over 2017-2024 and generate revenue over USD 16 billion by 2024.
Europe Acetic Acid Market size, by application, 2013 – 2024 (USD Million)
The expansion of the global chemical industry has almost doubled in terms of value over the last decade and was recorded around USD 5 trillion in 2013. This has strongly influenced the growth of acetic acid market as this acid finds its major application in the production of purified terephthalic acid, acetate esters, vinyl acetate monomer, and acetic anhydride. In terms of volume purified terephthalic acid contributed to more than 25% of the global acetic acid industry share in 2016. PTA is further used in the production of polyester films, polyester fiber, and polyethylene terephthalate (PET) resin. Vinyl acetate monomer is another major application segment which finds wide application in making of polymers and resins used in paints, films, adhesives, and textiles.
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North America, led by US acetic acid industry, recorded a consumption of over 1900 kilotons in 2016. The pharmaceutical industry holds a strong foot in North America with the presence of major manufacturers such as Johnson & Johnson, Novartis, Roche Holding AG, and Gilead Sciences. This factor has led to increasing demand for medical devices and saline bottles which are made from polyethylene terephthalate (PET. The regional acetic acid market will witness a profitable growth over the years ahead, owing to its profound usage as raw material in the production of PTA.
Acetic acid industry is quite consolidated and is likely to witness an increasingly growing trend of mergers and acquisitions. In 2011, the acetic acid product division of Sterling Chemicals was acquired by Eastman in order to support its growth strategy for the plasticizers and acetic acid product-line.
The manufacturers are aggressively involved in research and development activities to develop bio-based pathways for the complete replacement of fossil based raw materials. Bio-based acetic acid can be manufactured from fermenting sugar, ethanol, and corn starch. The product synthesis with bio-base material is gaining a wide acceptance among the consumers. Wacker Chemie, a well-known chemical company has recently established its bio-based acetic acid plant in Germany having an annual capacity of 500 tons. Bio-based acetic acid on grounds of addressing the hazardous environmental effects is poised to bring a paradigm shift in the global acetic acid industry landscape. Some of the major participants in this space include Saudi International Petrochemicals, DuPont, Celanese Corporation, Mitsubishi Chemical Holdings Corporation, Jiangsu Sopo (Group) Co., Ltd., Sinopec, Wacker Chemie, and British Petroleum (BP).
Author Name : Ojaswita Kutepatil
Global xylitol market to surpass the billion-dollar benchmark by 2023, China to be the chief growth avenue
The escalating scientific and commercial interest in xylitol is making the global xylitol industry an appealing commercialization proposition. The growing health consciousness among people has directly influenced the business landscape of the global xylitol market. Its properties of being used as a low-calorie substitute for traditional sweeteners is assisting its penetration across a myriad range of sectors such as personal care, food, pharmaceuticals, confectionary, and nutraceuticals. In addition, the rising healthcare expenditure, which has been indeed addressed as a global concern is further providing a significant impetus to the overall xylitol industry space. The U.S. is one of the prominent countries facing the healthcare costs burden profoundly. The trends depict that obesity is one of the leading causes of this rising expenditure, being the source of several other ailments such as diabetes, cardiac disorders, physical disabilities, etc. According to WHO, globally over 2.8 million people die from obesity and the consequent ailments on an annual basis.
U.S. Xylitol Market size, by application, 2013-2023 (Kilo Tons)
To combat the rising concerns regarding healthcare expenditure as well as to ensure sound health of the global population base, xylitol market has observed massive gains over the recent years. Xylitol has become a prominent name in the overall polyol industry space and had attained a remarkable revenue of USD 750 million in 2015. Through consumption via medicines and food, xylitol serves as a major solution to the issues related to obesity. This has subsequently enhanced the application portfolio of xylitol industry in the food and pharmaceutical sectors. As per the estimates, xylitol market size from food applications is estimated to register the highest CAGR of 7% over the period of 2016-2023.
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Owing to the medicinal properties, chewing gum applications led the overall landscape with a revenue record of over USD 450 million in 2015. The growth can be credited to the ability of xylitol based chewing gums to prevent dry mouth, tooth decays, and cavity progressions. As per the estimates, xylitol market share from chewing gum applications is estimated to record a CAGR of 6% over the timeframe of 2016-2024. Personal care industry is also one of the prominent contributors toward the overall xylitol market share. This application is poised to witness a substantial growth rate over the coming years, driven by its usage in fluoride tablets, mouthwash, and toothpaste.
The swift economic development and the rapid urbanization is significantly influencing the global landscape of the xylitol industry. Below are the regional trends pertaining to this market:
- The U.S. xylitol industry is expected to surpass a revenue of USD 350 million by 2023. The food applications in this region are likely to drive the product demand with a CAGR of 5.4% over the period of 2016-2023.
- Germany market is estimated to witness substantial growth over the coming seven years having held a revenue of USD 65 million in 2015. Chewing gum application is likely to drive the regional demand.
- China is estimated to be the major avenue for the overall xylitol industry growth over 2016-2023, with a target market size of 25 kilo tons by 2023. The huge regional confectionary base worth USD 9.5 billion is the major factor boosting the market trends.
- France market is estimated to grow at an annual rate of 5.5% over the coming six years, driven by the rising obese and diabetic patient base.
- Brazil personal care application is projected to exceed a revenue margin of USD 1.7 million by 2023.
The industry is consolidated with the top four players- Futaste Pharmaceutical, Danisco (DuPont), Yucheng Lujian Biological Technology Co. Ltd., and Hangzhou Shouxing Biological Technology Co. Ltd. sharing 40% of the overall business space. With a strong production base in China, the region has become a prominent export destination. Pricing is one of the chief parameters ruling the competitive scenario.
Despite the industry growth restraints including- tight raw material (corncob) supply and product substitute threat through the replacement by other sugar polyols such as sorbitol, maltol, and mannitol, the xylitol industry will sustain its valuation in the coming years with the diversified application spectrum across the end-use sectors. Global Market Insights, Inc. estimates the xylitol market to surpass a revenue of USD 1 billion by 2023.
Author Name :Shikha Sinha
Itaconic acid market to witness potential growth prospects in Asia Pacific, China to be the chief revenue pocket
Itaconic Acid Market has witnessed a dynamic change with the shifting trends from petrochemicals toward sustainable chemical materials. With rising concerns over diminishing fossil fuel resources, efforts are being made to produce chemicals from green or biomass feedstock. Growing inclination of the chemical industry base toward more high-tech and environment friendly products in order to replace petrochemicals has so far depicted strong growth chart for itaconic acid industry. This product finds key application in the production of methyl methacrylate (MMA), owing to the rising adoption of biotechnological methods in product manufacturing by the industry players. On these grounds, PMMA market, which is set to record USD 10 billion by 2024, is set to leave a remarkable impact on the worldwide itaconic acid industry.
U.S. Itaconic Acid Market size, by application, 2015 & 2024 (USD Million)
In 2004, itaconic acid was identified as one of the top 12 value added chemicals derived from biomass, which offered a suitable platform to produce polymers, biofuels, coatings, and chemical compounds. However, polymerization of itaconic acid was a key barrier to its commercial development which was later overcome by the researchers of University of Hampshire. This led to an escalated surge in the commercialization of itaconic acid industry worldwide.
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Accounting for more than 50% of the global itaconic acid demand, Asia Pacific has emerged as a major avenue in the itaconic acid industry. China led the regional growth and is anticipated to collect USD 20 million by 2024. Asia Pacific is drawing significant attention of the prominent industry players, owing to favorable workforce conditions and taxation laws. The industrial production of itaconic acid is highly concentrated in China including major companies such as Jinan Huaming Biochemistry, Zhejiang Guoguang Biochemistry, and Qingdao Kehai Biochemistry. European norms to curb the production of sodium tripolyphosphate (STPP) based detergents is set to propel regional itaconic acid market share from detergent applications. Furthermore, favorable government regulations to promote bio-based production for the sake of environmental safety is substantially driving Germany itaconic acid market.
Exclusive properties of itaconic acid such as enabling high densities cell growth, robustness, easy to get genetically engineered, and stability have led to a higher product deployment in several applications including synthetic latex, unsaturated polyester resins (UPR), detergent builders, chelant dispersant agents, and methyl methacrylate across myriad industries such as pharmaceutical, agriculture, and lighting. Synthetic latex itaconic acid market held over half of the overall industry share in 2015, owing to its use to improve the finished product quality. Furthermore, itaconic acid is a potential green alternative to maleic anhydride in unsaturated polyester resins. The itaconic acid industry size is set to expand parallelly with the expanding UPR market, owing to the diversified product applications across transportation, construction, and marine industries.
Itaconic acid industry is gaining a huge valuation on account of being a potential intermediate for the manufacturing of eco-friendly chemical compounds. As per a report compiled by Global Market Insights, Inc., the global itaconic acid market collected revenue worth over USD 75 million in 2015 and is projected to reach USD 290 million by 2024, expanding at an annual growth rate of 16.8% over the period of 2016-2024.
Author Name :Ojaswita Kutepatil
Natural oil polyols (NOP) industry to generate considerable revenue via automotive applications, soy oil products to majorly drive the industry growth over 2016-2023
A paradigm shift from conventional PU products to eco-friendly products will stimulate Natural Oil Polyols Market size over the coming years. Regulatory bodies across the globe have enforced norms pertaining to the rising GHG and carbon emissions, owing to which biotechnology companies have shifted to manufacturing bio-based PU, which in turn will spur natural oil polyols industry. These products are obtained from vegetable oils and are used to produce polyurethane used across the automotive and transportations sectors. Ford Motor Company, the renowned American automaker, had recently used soy oil based PU foam for its seating in the popular Ford Mustang. Soy oil based foams are heavily utilized for plastic & metal coatings, door foamers, footwear cushioning, wood & concrete coatings, and headliners, which will subsequently propel NOP market trends.
Europe Natural Oil Polyols (NOP) Market size, by product, 2012-2023 (Kilo Tons)
Global market Insights, Inc., affirms natural oil polyols (NOP) industry to surpass a valuation of USD 10.3 billion by 2023, growing at a CAGR of 7% over 2016-2023. Bio-based PU possess the properties of high performance, durability, and sustainability. In fact, the demand for bio-based polyurethane was more than 1600 tons in the year 2015 and is estimated to surpass 2600 tons by 2023, with a CAGR projection of 6.5% over 2016-2023. The rising usage of bio-based PU in numerous end-use sectors will consequently lead to the growth of natural oil polyols market.
Natural oil polyols industry from palm oil products is expected to record a CAGR of 7% over 2016-2023, subject to the vast farmlands of castor and palm oil tress across South East Asia and the technical advancements in extraction techniques. It has been predicted that palm oil market will witness the maximum growth across the Asia Pacific belt. The surging automotive and construction sectors across the emerging economies of India and China will fuel the regional natural oil polyols industry.
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With China and India being the main contributors, Asia Pacific NOP market will register the highest gains of 7.5% over 2016-2023, and will cross USD 2.75 billion by 2023. This growth can be attributed to the increasing demand for the product in lubricants, solvents, and additives and the rising awareness regarding bio-based products.
Soy oil dominated the product landscape of natural oil polyols industry in 2015, with a valuation of USD 1.7 billion. This product is heavily utilized across the automotive and transportation sectors. In addition, the rising number of soy acreages across Brazil and the United States will push natural oil polyols market growth from soy oil. Renowned firms such as the Dow Chemical Company and Cargill have already begun to commercialize soy based natural oil polymers to produce PU spray insulations and foams. This product is quite prominent across the United States and will contribute toward the growth of the regional natural oil polyols industry.
In 2015, with a valuation of more than USD 2.1 billion, North America dominated the worldwide natural oil polyols market. The regional business volume was 800 kilo tons in the year 2015 and is expected to significantly grow over the years ahead, subject to the favorable government rules and increasing consumer awareness.
It has been predicted that castor oil products will observe the maximum gains of 7.5% over 2016-2023, pertaining to the product purity and hydrolysis resistance. This product also requires the least modification as opposed to palm oil and soy oil, which will spur the overall natural oil polyols industry. Sunflower oil products, on the other hand, will witness a growth rate of 6.5% in Europe and are expected to exceed a volume of 42 kilo tons by 2023, thereby stimulating natural oil polyols market.
NOP products will find ample utilization across the LATAM belt, subject to the growing construction sector and rapid industrialization in the region. With Brazil at the helm, LATAM natural oil polyols industry will observe a CAGR of 9.5% over 2016-2023 and will exceed a revenue of USD 400 million by 2023.
Renowned organizations such as EPA and REACH have formulated norms to reduce the carbon emissions in the atmosphere, which will fuel natural oil polyol market. It has been observed that the manufacturing process of NOPs reduces nearly 25% of the energy demand and generates almost 30% less carbon emissions. In addition, the EES (European Emission Standards) has also been striving to reduce emissions from the automobile tail pipe, for which it has standardized certain regulations. Since these emissions are specifically caused by the vehicle weight, it becomes imperative for manufacturers to use bio-based counterparts, which will impel natural oil polyols industry.
Natural oil polyols market is quite consolidated and is shared between selected participants. Major players operating in this market include Dow Chemical, Urethane Soy Systems, Elevance Renewable Sciences, Hunstman, Cargill, BioBased Technologies LLC, Emery Oleochemicals, BASF, Bio Amber, Vertellus Specialties, Stepan Company, Lubrizol, Covestro, Jayant Agro Organics, Mitsui Chemicals, and IFS Chemicals Group. This technology-driven market is expected to chart out a profitable roadmap for itself over the years ahead.
Author Name :Saipriya Iyer
APAC synthetic & bio-based butadiene market to procure a major chunk of the global demand, bio-based butadiene industry to witness phenomenal gains over 2016-2024
With a diversified application portfolio in the automotive sector, global synthetic and bio-based butadiene market is generating a commendable momentum in the chemical industry. The huge valuation of the butadiene market can be majorly credited to its use in the manufacturing of tires. On account of this fact, the expanding tire industry which had a market size of 2.5 billion units in 2016 and is projected to surpass a volume of 3.9 billion units by 2024, validates the strong growth prospect of the synthetic and bio-based butadiene industry over the coming timeframe. In addition to this, the growing vehicle production which was recorded at 90 million units in 2016 is also a strong driving force behind the synthetic and bio-based butadiene market trends.
U.S. Synthetic & Bio-Based Butadiene Market size, by application, 2013 – 2024 (USD Billion)
APAC synthetic & bio-based industry to hold a major chunk of the global landscape over 2016-2024Asia Pacific is one of the major growth avenues for the global synthetic and bio-based butadiene industry. Reportedly, APAC led the global industry landscape in 2016 with a contribution of more than 45% of the overall share. China is forecast to predominantly drive the regional revenue having had similar trends over the past few years. As per the estimates, overall automobile production in China was 23 million units in 2016. Moreover, the notion of reducing the weight of the vehicles which further enhances the fuel efficiency and parallelly reduces the carbon emissions in the atmosphere is also significantly impacting the regional dynamics. China reportedly uses a substantial amount of plastic content in the manufacturing of automobile parts, particularly ABS. Estimates claim China ABS synthetic & bio-based butadiene market to record substantial growth over the years ahead having had a valuation of USD 740 million in 2016.
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Synthetic butadiene to face a tough rivalry from the phenomenally increasing bio-based butadiene industry share
The shifting inclination toward biodegradable products is also leading to a dynamic change in the synthetic and bio-based butadiene market outlook. This fact is validated by the growth statistics pertaining to the synthetic butadiene market. In 2016, synthetic butadiene dominated the overall product landscape having had a valuation of USD 15 billion in 2016. However, with the prominent notion of using bio-based products and increasing concerns pertaining to environmental hazards, the synthetic butadiene market will experience a moderate CAGR of 4% over the coming seven years. On the contrary, the sluggish growth of the synthetic butadiene will parallelly increase the demand for bio-based counterparts substantially. Reportedly, Bio-based butadiene market held a valuation of USD 450 million in 2016, a value far less than the synthetic butadiene market. However, the analysis claims the bio-based butadiene industry to register a double-digit growth rate of 13% over the period of 2016-2024.
The industry participants are making constant efforts to modify their product portfolios in sync with the environmental norms. In this regard, the firms are investing heavily in R&D to develop bio-based products. Key participants in the synthetic and bio-based butadiene market include BASF SE, Evonik Industries, Eni S.p.A, INEOS, ExxonMobil, Royal Dutch Shell Plc, LyondellBasell Industries N.V., The Dow Chemical Company, and SABIC. Reportedly, the industry has been quite fragmented over the years with the major players sharing just 30% of the overall business space. Another trait of the synthetic and bio-based butadiene industry is the tie-up of these product manufacturers with the end-use industries such as automotive, construction, etc. where these players get a major exposure to the entire industry ecosystem.
The expanding automotive base is certain to provide a substantial impetus to the global synthetic and bio-based butadiene industry over the years ahead. As per Global Market Insights, Inc., this industry is estimated to exceed a market share of USD 24 billion by 2024. The two major trends to watch for in the synthetic and bio-based butadiene market are the escalating growth of the bio-based butadiene products and the challenges they might offer to the synthetic counterparts coupled with the lucrative opportunities APAC will offer to the global industry base.
Author Name :Satarupa De
Bio based PET market to record a phenomenal CAGR of 40% over 2016-2023, APAC to majorly drive the global industry landscape
Bio based polyethylene terephthalate (PET) market has been gearing up at a fast pace validated from the commendable industry share record over the recent years. In 2015, the market capacity in terms of volume was almost 496 kilotons and in terms of revenue it surpassed the billion-dollar mark. Statistics depict that the industry is set to attain a phenomenal revenue of USD 13 billion by 2023. Emergence of bioplastics as an alternative to conventional packaging in food and beverage industry has prominently catapulted the bio based PET market expansion. Global sustainable packaging market which worth USD 150 billion in 2015, is slated to hit a revenue of USD 250 billion by 2024, projecting a parallel impact on PET market as well. Alongside, stringent governmental norms which have built an awareness among the consumers about the benefits of using ecofriendly products, has also complemented bio based PET market growth chart.
Europe bio based PET market size, by end-use, 2012 & 2023 (USD Million)
The market is also highly influenced by the growing strategic partnerships between the leading market giants. For instance, Toray and the Coca-Cola company have collaborated with bio-based manufacturing units like Virent and Gevo, with an aim to develop 100% bio-based polyethylene terephthalate. Bio-based PET weighs much less in comparison to its fossil fuel counterparts, as a result of which the bio based PET market demand from automotive industry is surging with each passing year. Leading automotive companies which include Nissan, Toyota, AT&T, have announced to implement bioplastics in their advanced vehicle model, which in turn is expected to positively influence bio based polyethylene terephthalate market penetration on technical grounds. The overall market from technical applications is projected to record a shooting CAGR of 35% over 2016-2023. High shatter resistance and light weight characteristic are the major two factors which are driving bio based PET market demand in manufacturing vehicle’s interior and exterior parts. The U.S. and the European Commission have set norms and standards to improve the fuel efficiency in vehicles which in a way will leave an impact on the market outlook as well.
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Bottle packaging applications will also account for a major portion of the bio based PET market share in the coming years. The projection can be grounded on the increasing investments in green technology by BRICS nations. Increasing food and beverage consumption in these regions have boosted sustainable packaging adoption in this belt. Australian Packaging Covenant’s initiations in promoting sustainable packaging have impelled the global market growth. Overall, bio based PET market from bottling applications is anticipated to experience a revenue record of USD 10.5 billion by the end of 2023. Regionally, Europe will observe a substantial growth from this application domain. As per estimation, Europe bottle packaging applications will grow strikingly at a CAGR of 37% over 2016-2023, with a revenue collection of USD 2.3 billion by 2023.
Asia Pacific dominated the global bio based polyethylene industry in 2015, by accounting for more than 32.5% of the industry demand. The increasing consumption of carbonated soft drinks and alcoholic beverages in China and India have widened the application scope of the market in this region. The trend is likely to continue in the coming time frame also. Latin America with Brazil at the growth front will also record tremendous gains in bio based PET market with a forecast CAGR of over 46.5% over the period 2016-2023.
The decline in crude oil price trends though is favoring synthetic product based market, however growing consumer awareness about greenhouse gas emissions undoubtedly will allow a profitable road map to the bio based PET industry. As per a report by Global Market Insights, Inc., bio based polyethylene terephthalate market is set to record a striking double digit CAGR of more than 40% over the period of 2016-2023.
Major competitors of bio based PET industry include Toray Industries, Teijin Limited, Coca-Cola, Plastipak Holdings, Toyota Tsusho, and M&G Chemicals.
Author Name :Satarupa De
Biosurfactants market to witness commendable growth from household detergent application, escalating demand for biodegradable products to fuel the industry share
Europe Biosurfactants Market size, by application, 2015 & 2023 (USD Million)
Sulfate free, sugar-based products, and neem extracts are the major bio-based products with biodegradable, low- toxicity and cost-effective properties. Driven by the escalating demand in detergents & personal care sectors owing to the product’s high sustainability and longer shelf life, biosurfactants industry from these applications is projected to record substantial growth in the coming years. Biosurfactants market from household detergents collected revenue worth USD 785 million in 2015 and is likely to witness considerable demand in future.
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Other application segments of biosurfactants industry include industrial cleaners, agricultural chemicals, textiles, food processing, oilfield chemicals, and personal care. These biosurfactants are derived from vegetable oils and fatty alcohols. In the food processing applications, biosurfactants are used as foams, emulsifiers, gels, and stabilizers. Biosurfactants market from food processing segment is anticipated to grow a rate of 4.5% over the period of 2016-2023. Industrial cleaner biosurfactants are widely used for oil surface cleaning and paint stripping and are estimated to register 4% CAGR from 2016-2023.
Based on the types of products, biosurfactants industry comprise rhamnolipids, methyl ethyl sulfonates (MES), sorbitan esters, sucrose esters, and alkyl polyglucosides (APG). The methyl ethyl sulfonates are biodegradable and are therefore primarily used in laundry detergent. Its high tolerance toward calcium ions also makes it preferable for laundry soaps. MES biosurfactants market collected a revenue of USD 580 million in 2015. Rhamnolipids is another prominent product in this industry, projected to witness highest CAGR of 7.5% over the period of 2016-2023. These are widely used in formulation of moisturizers and shampoos. Sophorolipids and monoglyceride have a strong application scope in personal care products as they possess intrinsic properties and biocompatibility with human skin. The Alkyl polyglucosides biosurfactants finds application in aluminum brighteners and metal cleaner detergents. Growing household based detergent demand is likely to boost APG biosurfactants market, which is set to record 4% annual growth rate over 2016-2023.
As per a report by Global Market Insights, Inc., the global biosurfactants market is expected to exceed 520 kilo tons in terms of volume and generate revenue over USD 2.6 billion by 2023. Consumer preference for bio-based ingredients in the U.S. have significantly influenced the regional biosurfactants industry. Growing regional demand coupled with increase in spending capacity is set to lead the U.S. biosurfactants market size to surpass 120 kilo tons by 2023. Furthermore, strong demand from personal care, textiles, chemicals and agricultural industries in the emerging economies of India and China has opened up huge growth prospects for the business expansion. China biosurfactants market is foreseen to grow at an annual rate of 4.5% over the period of 2016-2023.
Increasing investments in the research activities to develop 100% bio-based products along with robust technological developments will create huge opportunities for the market participants. The major challenge for these market players will be achieving cost effectiveness over the synthetic & petrochemical counterparts. Ecover, Saraya, BASF-Cognis, Urumqui, and MG Intobio Co. Ltd. are the key biosurfactants market players holding more than 65% of the overall business space. Other notable industry players include Mitsubishi Chemical, Lion Corporation, Croda International, Chemtura Corporation, Sun Products, and AkzoNobel.
Author Name :Ojaswita Kutepatil