Yahoo Finance Bio-based Malonic Acid Market Size & Share to Surpass USD 6.6 billion, at a CAGR of 8.9 % by 2031 | Analysis by Transparency Market Research, Inc.
Bio-based malonic acid is a chemical compound derived from renewable sources such as sugar beet molasses, sugarcane bagasse, wheat bran, and the other biomass. Unlike traditional malonic acid that is produced using petrochemical processes, bio-based malonic acid is created through environmentally-friendly methods, often involving microbial fermentation.
Wilmington, Delaware, United States, Transparency Market Research Inc. -, Sept. 16, 2024 (GLOBE NEWSWIRE) -- As per the report published by Transparency Market Research, the global Bio-based Malonic Acid market (バイオベースのマロン酸市場) was worth US$ 3.1 Bn in 2022 and is expected to reach US$ 6.6 Bn by the year 2031 at a CAGR of 8.9 % between 2023 and 2031.
This sustainable production process reduces CO₂ emissions and eliminates the use of toxic inputs like chloroacetic acid and sodium cyanide2. Bio-based malonic acid is used in various industries, including pharmaceuticals, flavors, fragrances, and specialty materials.
Bio-based Malonic Acid Market at a Glance
Bio-based malonic acid is a versatile chemical with a wide range of applications, particularly in the production of specialty chemicals, pharmaceuticals, and biodegradable polymers. As a platform chemical, it is used as an intermediate in the synthesis of various compounds, including flavors, fragrances, and vitamins. In the pharmaceutical industry, bio-based malonic acid plays a crucial role in the production of active pharmaceutical ingredients (APIs) and the other medicinal compounds. Additionally, it is increasingly used in the production of biodegradable plastics and polymers, aligning with the global shift towards sustainable materials.
One of the primary drivers is the increasing demand for sustainable and eco-friendly chemicals. As industries worldwide seek to reduce their carbon footprint and move away from fossil fuel-based products, bio-based malonic acid, derived from renewable resources, presents an attractive alternative. This trend is particularly strong in regions with stringent environmental regulations and growing consumer awareness about sustainability, which is pushing companies to adopt greener manufacturing practices.
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Another major factor contributing to market growth is the expanding pharmaceutical and specialty chemicals industries. The rising demand for high-quality, bio-based intermediates in the production of APIs and specialty chemicals is boosting the adoption of bio-based malonic acid. Its application in the development of biodegradable polymers is also gaining traction, especially as the global push for reducing plastic waste intensifies. The material's biodegradability and lower environmental impact compared to traditional petrochemical-derived acids make it highly desirable in various applications.
Prominent Players
Lygos and DMC Biotechnologies are some of the leading players operating in the global market.
Bio-based Malonic Acid Market Regional Insights
Asia Pacific generated the largest market value in 2023. The region is also expected to maintain its dominance during the forecast period.
Asia Pacific region is witnessing rapid growth in the bio-based malonic acid market, driven by several key factors. One of the primary drivers is the region's increasing focus on sustainability and environmental conservation. Governments and industries across Asia Pacific are implementing stricter environmental regulations to reduce carbon emissions and reliance on fossil fuels.
Bio-based malonic acid, derived from renewable resources, aligns with these sustainability goals, making it an attractive alternative to petrochemical-based acids. Countries such as China, Japan, and South Korea are leading the charge, with significant investments in green technologies and bio-based chemicals, thus boosting the demand for bio-based malonic acid.
Another significant factor is the robust growth of the pharmaceutical and specialty chemicals industries in Asia Pacific. As these industries expand, there is a growing need for high-quality, sustainable intermediates like bio-based malonic acid. The region is a major hub for pharmaceutical manufacturing, with countries like India and China playing pivotal roles in the global supply chain. The increasing demand for active pharmaceutical ingredients (APIs) and the other specialty chemicals in these markets is driving the adoption of bio-based malonic acid, which is used in the synthesis of various pharmaceutical compounds and specialty products.
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Bio-based Malonic Acid Market Segmentation
Feedstock
Corn Stover
Sugarcane Molasses
Beet Molasses
Others
Application
Chemical Intermediate
Natural Preservative Additive
Pesticides Production
Active Pharmaceutical Ingredient
Biodegradable Thermoplastic
Flavors & Fragrances
Others
End-use
Paints & Coatings
Electrical & Electronics
Food & Beverages
Agriculture
Pharmaceutical
Packaging
Cosmetic
Others
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