Since the last decade, the demand for bio-based organic acids is growing at a steady pace owing to the impact of conventional organic acids on the environment. In order to cater to this growing demand, more and more organic acid is being produced from renewable sources such as feedstock.
The market for organic acid synthesized from renewable raw material is also driven by the stringent regulations imposed by regulatory bodies of various nations on conventional organic acid producers. Bio-based alternatives for organic acid are eco-friendly and are frugal compared to synthetic products. However, the growing concerns regarding the use of wheat and corn for the production of bio-based organic acids instead of using them as food products is one of the major factors inhibiting the global market for bio-based organic acids.
Organic acid manufactured from renewable raw materials is fully capable of replacing the market for synthetic organic acids. Organic acids are one of the major building blocks in the petrochemicals industry which produce a wide range of intermediates and end use petrochemical products. Some of the applications where bio-based organic acids are expected to be used include polymers, food, coatings, lubricating oils, pharmaceuticals, cosmetics, solvents, diesel fuel oxygenates, and some other applications. Various organic acids which are being used in the above mentioned applications include fumaric acid, acrylic acid, lactic acid, succinic acid, acetic acid, and some others.
Some of the major companies operating in the global market for bio-based organic acids include BioAmber, Myriant, Genomatica, BASF, DSM Cargill, Novozymes, Natureworks LLC, Dow Chemicals, and Metabolix.
This research report analyzes this market depending on its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Rest of the World
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