Market Analysis: ASA and ASA Derivatives Market, Bio-Butadiene Market and Bio-Organic acid Market forecasted for 2023-2030

SEATTLE, WASHINGTON, USA, July 7, 2023/EINPresswire.com/ -- The ASA and ASA Derivatives Market is expected to grow from USD 170.70 Million in 2022 to USD 235.40 Million by 2030, at a CAGR of 4.70% during the forecast period.The ASA and ASA Derivatives market has a target audience that consists of professionals from various industries, including finance, banking, insurance, and other related fields. These individuals use these instruments for risk management, hedging, speculation, and arbitrage. Additionally, institutional investors, such as hedge funds, pension funds, and asset management firms, are also frequent users of these instruments.The major factor driving revenue growth in the ASA and ASA Derivatives market is the increasing need for risk management and hedging strategies in today's volatile economic environment. Furthermore, the growing use of algorithmic trading and the rise of automated trading systems have also contributed to the high demand for these instruments.

It comes in various types of derivatives such as:

• OSA (Octadecyl Succinic Anhydride)
• ODSA (Oleic Diethanolamide Succinic Anhydride)
• NSA (Nitro Succinic Anhydride)
• DDSA (Dodecyl Succinic Anhydride)

These derivatives alter the properties of ASA, thus improving its performance in various applications. OSA is widely used as an emulsifier, and it enhances the performance of paint, ink, and resin systems. ODSA is a good dispersing agent and is used in the preparation of personal care products, while NSA is a reactive group.

The Asia Pacific region is expected to dominate the ASA and ASA Derivatives market in the coming years, with a projected market share of around 40%. This is due to the region's rapidly growing industrialization and urbanization, which is driving demand for ASA and its derivatives in various end-use applications, such as construction, automotive, and packaging.Following the Asia Pacific region, North America and Europe are expected to hold significant shares in the ASA and ASA Derivatives market. North America is expected to have a market share of around 25%, while Europe is expected to have a market share of around 20%. These regions have a well-established industrial base and significant demand for ASA and its derivatives in various applications.

The major players in the ASA and ASA Derivatives market include Kemira, Vertellus Holdings, Milliken Chemical, Mare Holding, and Ineos.

Sales Revenue Figures:

- Kemira: €2.5 billion (2020)
- Milliken Chemical: $2.8 billion (2019)
- Ineos: €61.9 billion (2020)

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The Bio-Butadiene Market is expected to grow from USD 16.20 Billion in 2022 to USD 19.60 Billion by 2030, at a CAGR of 2.80% during the forecast period.One of the major factors driving the revenue growth of the bio-butadiene market is the increasing use of bio-based chemicals in the automotive industry. Bio-butadiene is a key ingredient in the production of synthetic rubber used in tires, making it an essential component in the automotive sector. The use of bio-based chemicals in the production of rubber not only reduces carbon emissions but also results in more sustainable products, thereby boosting the demand for bio-based chemicals, including bio-butadiene.Moreover, stringent regulations on carbon emissions reduction are encouraging manufacturers to shift towards bio-based chemicals, including bio-butadiene. As countries across the world prioritize environmental sustainability, there has been a growing awareness of the need to reduce carbon emissions. This is driving the demand for bio-based chemicals and is expected to continue to do so in the coming years.

There are two types of bio-butadiene production methods-

• One-Step
• Multi-Step Methods

The one-step method involves the conversion of biomass into bio-butadiene in a single process, while the multi-step method involves the production of intermediates which are then converted into bio-butadiene through further reactions and process steps.

Bio-Butadiene is used in a variety of applications such as thermo-plastic elastomers, synthetic rubber, fine chemicals, nylon, styrenic plastics, and epoxy resins. In the production of thermo-plastic elastomers, bio-butadiene is used as a key raw material to improve the flexibility, softness, and strength of the product. Synthetic rubber, another widely used application of bio-butadiene, enhances the durability, elasticity, and water resistance of the rubber. Fine chemicals are produced using bio-butadiene as a solvent, while nylon and styrenic plastics gain strength, elasticity, and toughness with the aid of bio-butadiene. In epoxy resins, bio-butadiene is used to improve the adhesion of the resins to the surface.

As of 2021, North America is expected to hold a market share of around 38% in the Bio-Butadiene market, followed by Europe with a market share of around 29%. The Asia Pacific region is expected to hold a market share of around 27%, and the remaining market share is expected to be held by the Middle East & Africa, and Latin American regions.

The bio-butadiene market is highly competitive due to the emergence of new players alongside established players. The major players in the bio-butadiene market include Braskem, Genomatica & Versalis, Biokemik(Biosyncaucho), LanzaTech & Invista, Global Bioenergies & Synthos.

Braskem reported sales revenue of $13.1bn in 2020, while LanzaTech reported revenue of $22.5m in 2019. Global Bioenergies reported revenue of $5.6m in 2020.The bio-organic acid market has been experiencing growth owing to the increasing demand for sustainable and environmentally friendly chemicals in various end-use industries such as food and beverage, pharmaceuticals, and agriculture.

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Bio-organic acids, which are produced from renewable sources, are gaining popularity due to their biodegradability, low toxicity, and ability to improve the shelf-life of foods.The major factors driving revenue growth in the bio-organic acid market include the increasing demand for bio-based chemicals, the growing awareness among consumers about the use of sustainable products, and the strict government regulations regarding the disposal of hazardous waste.

Some of the most common types of bio-organic acids includes:

• Bio Citric Acid
• Bio Lactic Acid
• Bio Acetic Acid
• Bio Ascorbic Acid
• Bio Gluconic Acid
• Bio Succinic Acid.

These acids are widely used in several industries, including food and beverage, pharmaceutical, agriculture, and chemical manufacturing. Each of these acid types has specific properties and uses. Bio citric acid is commonly used as a food additive, while Bio Lactic Acid is used to lower the pH of fermentation products. Bio Acetic Acid is used as a solvent for various applications, including in the production of vinyl acetate. Bio Ascorbic Acid is a vital nutrient that is widely used in the food and pharmaceutical industries. Bio Gluconic Acid is used as a chelating agent, while Bio Succinic Acid is used as a platform chemical in the production of various industrial chemicals.

Bio-organic acids find extensive applications in various industries ranging from food, industrial processes, and pharmaceuticals, to personal care products. In the food industry, bio-organic acids like lactic acid, citric acid, and acetic acid are used as preservatives, flavor enhancers, and acidity regulators. In the industrial sector, they are utilized in fermentation processes for the production of ethanol, acetone, and butanol. The pharmaceutical industry uses bio-organic acids for formulating medicines, while personal care products like shampoos, lotions, and soaps employ lactic acid and citric acid as pH adjusters. These acids improve product performance and increase shelf life.

In terms of market share percentage valuation, the report estimates that the Asia-Pacific region will hold around 45% of the total market share in 2025, followed by North America with a share of around 25%. Europe is expected to hold a share of around 20%, while the rest of the world is expected to hold the remaining 10%.

Corbion, NatureWorks, Henan Jindan Lactic Acid Technology, Galactic, BBCA Group, Weifang Ensign Industry, TTCA, RZBC Group, Cofco Biochemical (Anhui), Jungbunzlauer Suisse, Tate & Lyle, Cargill, DSM, LCY Biosciences (BioAmber), and GC Innovation America are some of the prominent players in the market.

The sales revenue figures for some of the above-listed companies in 2019 are as follows:

- Corbion: $1,185 million
- NatureWorks: $964 million
- Tate & Lyle: $3,062 million
- Cargill: $113.5 billion
- DSM: €9.0 billion
- LCY Biosciences (BioAmber): $17.9 million

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Mohit Patil
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