DUBLIN--(BUSINESS WIRE)--The "North America Bio-organic Acid Market - Segmented by Application, Product Type, Raw Material, and Geography - Growth, Trends, and Forecast (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.
North America bio-organic acid market is expected to register a CAGR of 5.3% during the forecast period. United States dominated the North America bio-organic acid market in 2017.
The demand for organic acids produced from renewable raw materials is growing largely due to the adverse environmental effects of conventional organic acids. Environmental Protection Agency (EPA) has implemented strict regulations that limit the usage of harmful chemicals that emits VOCs. Organic acids produced from natural raw material sources can be a potential replacement for synthetic acids.
Organic acids are one of the key products used to produce a diverse range of intermediates in petrochemical industry. Bio-organic acids can be a potential replacement for petrochemicals in some of the key application areas, such as polymer, food, coatings, and healthcare. Organic acids used for these applications include fumaric acid, acrylic acid, lactic acid, succinic acid, and acetic acid, amongst others.
Bio-renewable organic chemicals, like lactic acid accounted for a significant share in the bio-based chemicals market. There is a large range in market maturity for platform bio-chemicals, ranging from mature markets, like lactic acid to nascent markets, like succinic acid. The strongest growth is expected for secondary chemicals, such as PLA, polyhydroxyalkanoate (PHA) and bio-ethylene, which are used to manufacture bio-based plastics.
Replacing petrochemical carbon sources is of interest to environmental conscious suppliers and consumers. Increasing regulations on applications of petrochemical-based products are acting as a driver for bio-organic acids market in North America. Manufacturers are continuously developing new products to meet the changing consumer demand, as well as to sustain in the stringent regulatory framework imposed by USDA in the region.
- January 2017: Metabolix, Inc. Announced Name Change to Yield10 Bioscience, Inc.
Major Players: BASF SE, NatureWorks LLC, Braskem, Novozymes, and Dairen Chemicals, amongst others.
Key Topics Covered
2. Executive Summary
3. Market Insights
4. Market Dynamics
5. Market Segmentation and Analysis
6. Regional Market Analysis
7. Competitive Landscape
8. Company Profiles
- BASF SE
- Mitsubishi Chemicals
- Dairen Chemicals
- NatureWorks LLC
- Metabolix Inc.
For more information about this report visit https://www.researchandmarkets.com/research/mg9pkc/north_america?w=4