Transparency Market Research Inc., Wilmington, Del., USA, October 10, 2024 (Globe Newswire) — Global bio-based acrylonitrile market expected to reach USD 162.2 million in 2023 is predicted to reach. The market is expected to reach USD 381.9 million by 2034, expected to register a CAGR of 8.1% from 2024 to 2034.
Global bio-based acrylonitrile market: Key players
Top companies in the global bio-based acrylonitrile market invest heavily in developing advanced bio-based feedstocks and expanding production facilities to meet increasing demand from lucrative industries such as electronics, automotive, and packaging. We are doing
Industry leaders are using outsourcing, mergers and acquisitions, and regional development as essential tactics to maintain their dominant market positions in a changing and fragmented environment. The following companies are well-known participants in the global bio-based acrylonitrile market:
Encore Solvay Asahi Kasei Co., Ltd. Trinseo
Bio-based acrylonitrile is a chemical molecule derived from recyclable organic resources such as agricultural waste, waste, and other sugars. This chemical is used in the large-scale production of acrylic fibers, resins, and other polymers used in electronics, environmentally friendly packaging, and auto parts.
Benefits of using bio-based acrylonitrile include reduced carbon emissions, improved sustainability ratings, and an overall reduction in dependence on fossil fuels and other traditional energy sources.
Get exclusive sample copy of the report: https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=86004
With growing demand from environmentally conscious consumers for products with a lower environmental impact, companies seeking environmentally friendly resin and material solutions are turning to bio-based materials. Current market trends for bio-based acrylonitrile indicate that improving yields, reducing costs, and optimizing processes are top priorities.
Key findings of the market report
Increasing concerns about climate change, environmental degradation and carbon emissions are driving demand for sustainable alternatives in industry. Companies in the industry are achieving significant growth in the bio-based acrylonitrile market due to their focus on circular economy principles. Acrylonitrile made from recycled polymers is a cheaper option than acrylonitrile made from petrochemicals. The adoption of this compound will enable changes in the supply chain to become more environmentally friendly, meeting changing customer demands and legal requirements.
Bio-based acrylonitrile market trends
The technology of using biological systems such as bacteria and enzymes to produce useful materials and products is known as biomanufacturing. The main areas of innovation in biomanufacturing are optimizing efficiency, enhancing sustainability, and scalability. The focus of biomanufacturing innovation, including bio-based acrylonitrile research and development, is on process optimization and bioreactor design required for environmentally friendly commercial production of acrylonitrile. The market value of bio-based acrylonitrile is increasing due to increased government funding for the construction of bio-manufacturing facilities and the creation of guidelines and standards that promote the use of bio-based products.
Global market for biobased acrylonitrile: regional outlook
In 2023, Europe accounted for the highest share of the bio-based acrylonitrile market. The presence of industrial centres, increasing investment in sustainable technologies and bio-based materials, and easy access to raw materials are all contributing to the market dynamics in the region. The bio-based acrylonitrile market is expected to develop rapidly in North America by 2024 and 2034, according to the latest forecasts. The presence of a well-established industrial infrastructure and strong support from government agencies for the development of environmentally friendly materials are driving market statistics forward in the region. The US economy benefits approximately US$1363.8 billion from biomanufacturing. to the National Institute of Standards and Technology.
Key developments by the players in this market include:
Leading chemical manufacturer Ineos Nitriles announced the debut of a new bio-based acrylonitrile product line called Invireo in July 2023. Compared to traditionally produced acrylonitrile, this product has a 90% lower carbon footprint. The launch aims to promote sustainability and reduce dependence on fossil fuel-derived resources.
Global Bio-based Acrylonitrile Market Segmentation
type
Fermentation-based Direct synthesis-based
application
Fiber resin water treatment adhesive manufacturing and others
End use
Textile packaging Automotive electronics Others
region
North America Latin America Europe Asia Pacific Middle East and Africa
Gain a competitive advantage: Buy the premium report! https://www.transparencymarketresearch.com/checkout.php?rep_id=86004 Explore Transparency Market Research Inc.’s extensive coverage of chemicals and materials: Solar Panel Coatings Market (Solar Panel Coatings Market) – The solar panel coatings market was valued at USD 3.2 billion in 2022. It is expected to witness a CAGR of 26.7% from 2023 to 2031 and is expected to reach USD 26.7 billion during the forecast period. Extruded Plastics Market (International) – The global extruded plastics market is projected to reach USD 210.2 billion in 2022. A CAGR of 6% is expected from 2023 to 2031. The market is expected to reach USD 356.1 billion by 2022. 2031. About transparency market research Transparency Market Research is a global market research firm registered in Wilmington, Delaware, USA, providing custom research and consulting services. Our unique combination of quantitative forecasting and trend analysis provides forward-looking insights to thousands of decision makers. Our experienced team of analysts, researchers, and consultants uses proprietary data sources and a variety of tools and techniques to gather and analyze information. Our data repository is continually updated and revised by our team of research experts to ensure it always reflects the latest trends and information. With extensive research and analytical capabilities, Transparency Market Research employs rigorous primary and secondary research methodologies in developing unique datasets and research materials for business reports. contact: Transparency Market Research Co., Ltd.
Head office in downtown
1000 N. West Street;
Suite 1200, Wilmington, DE 19801 USA
Phone number: +1-518-618-1030
US – Canada Toll Free: 866-552-3453
Website: https://www.transparencymarketresearch.com
Email: sales@transparencymarketresearch.com
Follow us: LinkedIn|Twitter|Blog | YouTube
