Catalyst for Synthesis of Bio-Based Acrylic Acid Market - Global Industry Research Analysis

According to Market Research Store, the global catalyst for synthesis of bio-based acrylic acid market size was valued at around USD 116.28 million in 2023 and is estimated to reach USD 170.58 million by 2032, to register a CAGR of approximately 4.35% in terms of revenue during the forecast period 2024-2032.

The catalyst for synthesis of bio-based acrylic acid report provides a comprehensive analysis of the market, including its size, share, growth trends, revenue details, and other crucial information regarding the target market. It also covers the drivers, restraints, opportunities, and challenges till 2032.

Global Catalyst for Synthesis of Bio-Based Acrylic Acid Market: Overview

The synthesis of bio-based acrylic acid primarily relies on renewable feedstocks such as sugars, glycerol, or biomass-derived intermediates. Catalysts play a crucial role in converting these feedstocks into bio-based acrylic acid.

Common catalysts used for this synthesis are metal oxides, especially molybdenum and tungsten-based catalysts, which facilitate the dehydration and oxidation processes needed for conversion. Some processes also use zeolite-based catalysts due to their high stability and efficiency in promoting selective reactions.

Key Highlights

• The catalyst for synthesis of bio-based acrylic acid market is anticipated to grow at a CAGR of 4.35% during the forecast period.
• The global catalyst for synthesis of bio-based acrylic acid market was estimated to be worth approximately USD 116.28 million in 2023 and is projected to reach a value of USD 170.58 million by 2032.
• The growth of the catalyst for synthesis of bio-based acrylic acid market is being driven by the rising demand for sustainable and eco-friendly alternatives to petroleum-derived acrylic acid.
• Based on the type, the metal salt catalyst segment is growing at a high rate and is projected to dominate the market.
• On the basis of application, the Super Absorbent Polymers (SAP) segment is projected to swipe the largest market share.
• By region, North America is expected to dominate the global market during the forecast period.

Catalyst for Synthesis of Bio-Based Acrylic Acid Market: Dynamics

Key Growth Drivers:

• Growing demand for sustainable alternatives: The increasing awareness of environmental concerns and the need for renewable resources have driven the demand for bio-based products, including acrylic acid.
• Advancements in catalyst technology: The development of more efficient and selective catalysts has significantly improved the conversion of biomass into acrylic acid, making it a more economically viable option.
• Government support and incentives: Various governments and organizations are promoting the development and adoption of bio-based chemicals through policies, research funding, and tax incentives.

Restraints:

• High production costs: The production of bio-based acrylic acid still faces higher costs compared to the petrochemical-based alternative, limiting its widespread adoption.
• Limited availability of feedstock: The availability and consistency of suitable biomass feedstocks can be a challenge, especially in regions with limited agricultural resources.
• Infrastructure and supply chain limitations: The development of infrastructure and supply chains for the production and distribution of bio-based acrylic acid can be time-consuming and costly.

Opportunities:

• Expanding applications: Bio-based acrylic acid has a wide range of applications in various industries, including coatings, adhesives, and textiles. As the demand for these products grows, so too will the market for bio-based acrylic acid.
• Technological advancements: Continued research and development in catalyst technology and process optimization can further reduce production costs and improve the efficiency of bio-based acrylic acid production.
• Collaboration and partnerships: Collaboration between industry, academia, and government can help address the challenges associated with bio-based acrylic acid production and accelerate its commercialization.

Challenges:

• Competition from petrochemical-based acrylic acid: The established market for petrochemical-based acrylic acid poses a significant challenge to the adoption of bio-based alternatives.
• Market volatility: Fluctuations in the price of biomass feedstocks and energy can impact the profitability of bio-based acrylic acid production.
• Regulatory and compliance issues: Ensuring compliance with environmental regulations and quality standards can be complex and costly.

Catalyst for Synthesis of Bio-Based Acrylic Acid Market: Segmentation Insights

The global catalyst for synthesis of bio-based acrylic acid market is divided by type, application, and region.

Segmentation Insights by Type

Based on type, the global catalyst for synthesis of bio-based acrylic acid market is divided into metal salt catalyst, molecular sieve catalyst, microbial preparation, and others.

Metal salt catalysts lead the market due to their high efficiency and widespread industrial use in the production of bio-based acrylic acid. These catalysts, often composed of transition metals like vanadium, molybdenum, or tungsten, are highly effective in converting bio-based feedstocks like glycerol or lactic acid into acrylic acid. Their dominance comes from their thermal stability, cost-effectiveness, and familiarity within industrial settings. Their ability to drive oxidation reactions efficiently, coupled with their adaptability from petrochemical to bio-based processes, secures their top position in the market.

Molecular sieve catalysts are also prominent, known for their selective adsorption and catalytic transformation capabilities. Their structured pores allow for efficient separation and conversion of bio-based materials into acrylic acid while minimizing side reactions. Though they provide high-purity outputs, the higher costs and complexity of preparation limit their broader application compared to metal salt catalysts.

Microbial preparation is an emerging segment, where engineered microorganisms are used to synthesize acrylic acid from renewable biomass. These microbial catalysts are gaining attention for their sustainability and potential to lower environmental impacts. Although still in development, this method shows promise due to its eco-friendly nature and the ability to operate under milder conditions.

Segmentation Insights by Application

On the basis of application, the global catalyst for synthesis of bio-based acrylic acid market is bifurcated into Super Absorbent Polymers (SAP), polyacrylic acid polymers, adhesives, and others.

Super Absorbent Polymers (SAP) represent the most dominant application for bio-based acrylic acid. SAPs are widely used in hygiene products such as diapers, adult incontinence products, and sanitary pads due to their ability to absorb and retain large amounts of liquid.

The demand for SAPs is continually growing, driven by rising awareness around hygiene and health, especially in regions with increasing populations and improved living standards. Bio-based acrylic acid is increasingly being used in SAP production to meet the demand for more sustainable and environmentally friendly products, which adds to its dominance in this segment.

Polyacrylic acid polymers are another significant application for bio-based acrylic acid. These polymers are valued for their water-soluble properties and are commonly used in various industries, including detergents, water treatment, and coatings.

Bio-based acrylic acid provides an eco-friendly alternative to traditional petrochemical-based acrylic acid in these products. The growth in demand for greener and more sustainable solutions, especially in water treatment and cleaning applications, is supporting the expansion of this segment, although it does not surpass SAP in terms of dominance.

The adhesive industry is another important application for bio-based acrylic acid, especially for pressure-sensitive adhesives used in tapes, labels, and packaging. Bio-based acrylic acid is increasingly being incorporated into adhesive formulations due to the push toward sustainable and biodegradable materials in the packaging and consumer goods sectors. While adhesives represent a growing market, they still account for a smaller share compared to SAPs and polyacrylic acid polymers.

Catalyst for Synthesis of Bio-Based Acrylic Acid Market: Report Scope

Catalyst for Synthesis of Bio-Based Acrylic Acid Market: Regional Insights

• North America is expected to dominates the global market

North America leads the market for catalysts used in the synthesis of bio-based acrylic acid, driven by the region's significant investments in green chemistry and renewable feedstocks. The U.S. government, along with private sector investments, has encouraged the development of bio-based products, including acrylic acid, to reduce reliance on petroleum-based materials.

North America’s established chemical manufacturing industry and advanced research facilities make it the dominant region in the market. Furthermore, environmental regulations aimed at reducing carbon emissions provide strong incentives for industries to shift toward bio-based alternatives, further boosting the demand for catalysts in this region.

Europe follows closely behind North America, with the region’s focus on sustainability and strict environmental regulations playing a key role in driving the adoption of bio-based materials. The European Union has strong policies supporting bioeconomy development and has set ambitious goals for reducing carbon emissions.

Countries such as Germany, France, and the Netherlands are at the forefront of green technology development, with active participation from both governmental organizations and private entities. Europe’s proactive stance on reducing the carbon footprint in the chemicals sector provides substantial growth opportunities for bio-based acrylic acid catalysts.

Asia-Pacific is an emerging region in the bio-based acrylic acid catalyst market. Countries like China, Japan, and South Korea are investing in research and development to advance bio-based chemical production. The region is home to a growing number of bio-refineries and has a strong industrial base for chemicals production.

While the adoption of bio-based materials is still in the nascent stage compared to North America and Europe, the region’s rapidly industrializing economies and increasing awareness of sustainable practices are positioning Asia-Pacific as a significant future market player.

Latin America’s market for bio-based acrylic acid catalysts is developing, driven primarily by Brazil and Argentina, where agricultural waste is increasingly being considered as a potential feedstock for bio-based chemicals. The region’s abundance of natural resources positions it well to develop a strong bio-based production industry.

However, the market is still in its early stages due to a lack of advanced infrastructure and significant investment in the chemical industry compared to other regions. Nevertheless, government initiatives to promote sustainable industrial growth are expected to accelerate the market.

The Middle East & Africa region currently holds the smallest share in the market for bio-based acrylic acid catalysts. While some nations in the region are making efforts to diversify their economies beyond oil production, the adoption of bio-based chemical processes is still in its infancy.

Limited infrastructure for bio-based chemicals production and the region’s strong reliance on traditional petroleum-based industries make it a less dominant player. However, there is growing interest in sustainable alternatives, and future investments could lead to gradual market development.

Catalyst for Synthesis of Bio-Based Acrylic Acid Market: Competitive Landscape

The report provides an in-depth analysis of companies operating in the catalyst for synthesis of bio-based acrylic acid market, including their geographic presence, business strategies, product offerings, market share, and recent developments. This analysis helps to understand market competition.

Some of the major players in the global catalyst for synthesis of bio-based acrylic acid market include:

• Novozymes/Cargill
• OPXBio/Dow
• Arkema/Nippon Shokubai
• Novomer
• Yield10
• Metabolix
• GC Innovation America
• P & G

The global catalyst for synthesis of bio-based acrylic acid market is segmented as follows:

By Type

• Metal Salt Catalyst
• Molecular Sieve Catalyst
• Microbial Preparation
• Others

By Application

• Super Absorbent Polymers (SAP)
• Polyacrylic Acid Polymers
• Adhesives
• Others

By Region

• North America
  • U.S.
  • Canada
• Europe
  • U.K.
  • France
  • Germany
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Rest of Latin America
• The Middle East and Africa
  • GCC Countries
  • South Africa
  • Rest of Middle East Africa

Frequently Asked Questions:

What will be the value of the catalyst for synthesis of bio-based acrylic acid market during 2024- 2032?

Based on statistics from the Market Research Store, the global catalyst for synthesis of bio-based acrylic acid market size was projected at approximately US$ 116.28 million in 2023. Projections indicate that the market is expected to reach around US$ 170.58 million in revenue by 2032.

What will be the CAGR of the global catalyst for synthesis of bio-based acrylic acid market?

The global catalyst for synthesis of bio-based acrylic acid market is expected to grow at a Compound Annual Growth Rate (CAGR) of around 4.35% during the forecast period from 2024 to 2032.

Which region will drive the global catalyst for synthesis of bio-based acrylic acid market?

North America is expected to dominate the global catalyst for synthesis of bio-based acrylic acid market.

What are the significant factors driving the global catalyst for synthesis of bio-based acrylic acid market?

The key factors driving the global market for catalysts in bio-based acrylic acid synthesis include the rising demand for sustainable and eco-friendly alternatives to petroleum-based products, increasing environmental regulations, and advancements in catalytic technology that improve efficiency and production scalability.

Who are the leading players functioning in the global catalyst for synthesis of bio-based acrylic acid market growth?

Some of the prominent players operating in the global catalyst for synthesis of bio-based acrylic acid market are; Novozymes/Cargill, OPXBio/Dow, Arkema/Nippon Shokubai, Novomer, Yield10, Metabolix, GC Innovation America, P & G, and others.

What can be expected from the global catalyst for synthesis of bio-based acrylic acid market report?

The global catalyst for synthesis of bio-based acrylic acid market report provides a comprehensive analysis of market definitions, growth factors, opportunities, challenges, geographic trends, and competitive dynamics.

Frequently Asked Questions