Summary
Bio-organic Acid Market in APAC-Segmented by Raw Material, By Product Type, By Application Industry, and Geography-Trends and Forecasts( 2017-2022).
Description
The bio-organic acid market in APAC has been estimated at USD XX. XX billion in 2015 and is projected to reach USD XX. XX billion by 2020, at a CAGR of XX. XX % during the forecast period. Bio-organic acids are produced from the fermentation of microorganism and are used commercially such as catalysts, surfactants, and dyes. They are produced from bio-based raw materials such as corn, maize, sugar, and biomass.
Bio-organic acid can be used for various applications such as petrochemicals, coatings, healthcare, textile, food, and others. Bio-organic acids are extensively used in the healthcare applications, accounting for a share of XX. XX % in 2015. This report is segmented based on the raw material usage, into corn, maize, sugar, biomass and others.
In terms of product types, the market is segmented into bio-lactic acid, bio-acetic acid, bio-succinic acid, bio-adipic acid, bio-acrylic acid, and others. Bio-lactic acid is the fastest growing products in the market growing at a CAGR of XX. XX %. In terms of revenue the acetic acid segment leads the market accounting for a share of XX. XX %.
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Market Dynamics of the Bio-organic Acid Market in APAC:
The market is driven by depleting natural resources, demand from the healthcare industry, and stringent government regulations. However, this market faces certain drawbacks such as the huge competition from fossil-fuel products.
China is the leading consumer of bio-organic acid accounting for a share of XX % in 2015. The bio-organic acid market in APAC will grow at a high rate during the forecast period owing to the huge demand from the healthcare industry. The market will grow at a healthy pace during the forecast period.
Furthermore, the shifting focus towards eco-friendly products will offer numerous opportunities for the growth of the Bio-organic Acid market. Some of the major companies dominating the
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market with its products, and continuous product developments are:
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