The Bio-based Malonic Acid Market Size was estimated at 7.95 (USD Billion) in 2022. The Bio-based Malonic Acid Industry is expected to grow from 8.64(USD Billion) in 2023 to 18.2 (USD Billion) by 2032. The Bio-based Malonic Acid Market CAGR (growth rate) is expected to be around 8.64% during the forecast period (2024 - 2032).
Key Bio-based Malonic Acid Market Trends Highlighted
The market of Bio-based Malonic Acid exhibits promising growth prospects, driven primarily by increasing demand for sustainable and environmentally friendly alternatives in various industries. Key market drivers include growing awareness of the environmental impact of traditional chemical processes, stringent regulations favoring bio-based products, and the rising adoption of bio-based malonic acid in applications such as food beverage, pharmaceuticals, personal care, and industrial chemicals. Opportunities for growth lie in untapped markets in emerging economies and the development of novel applications in industries such as agriculture and cosmetics. Recent trends indicate a shift towards integrated biorefinery processes for cost-efficient production, the emergence of new technologies for bio-based malonic acid synthesis, and increasing investments in R for product innovation.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Bio-based Malonic Acid Market Drivers
Rising Demand for Biodegradable and Sustainable Products
The demand for bio-based malonic acid is driven by the increasing consumer exposure toward environment by traditional plastics and chemicals. It is a bio-degradable and sustainable option to the petroleum based malonic acid. Products made from bio-based malonic acid are preferable in terms of reducing the environmental footprint, which drives the demand of the product. Due to the increase in environmental awareness among the consumers, various manufacturers are expecting to invest in this product to produce bio-degradable products in the areas of packaging, textile and personal care.Furthermore, governments are also introducing various acts and regulations to promote sustainability and reduce plastic wastage, which is further expected to drive the demand of the bio-based malonic acid.
Expansion of the Bioplastics Industry
The increasing usage of bioplastics in different industries such as automotive, packaging, and consumer goods is a major factor driving the demand for bio-based malonic acid. Bioplastics are degradable and compostable plastics prepared from renewable resources such as plant starch, cellulose, and vegetable oils. Malonic acid plays a major role in the synthesis of bioplastics as it imparts flexibility, strength, and heat resistance properties to the material.With the growth of the bioplastics industry, the demand for bio-based malonic acid is also expected to increase. This trend will be more prominent in regions that experience significant growth in the bioplastics industry.
Growing Adoption in the Pharmaceutical and Cosmetic Industries
Bio-based malonic acid is being used in the pharmaceutical and cosmetic industry due to its inherent qualities and nature. In the pharmaceutical industry, bio-based malonic acid is being used as an intermediate in the synthesis of the most vital active pharmaceutical ingredients and drug formulations. Bio-based malonic acid possesses some qualities beneficial for the pharmaceutical purpose. It has a high degree of purity and possesses only low toxicity.It is also compatible with the biological environment, making it ideal for the production of pharmaceuticals. In the cosmetic industry, bio-based malonic acid is used in the formulation of some skin-care and hair-care products. The compound is used as a moisturizer, humectant, and skin-conditioning agent. The use of chemical-free and environmentally friendly ingredients is on the rise. As such, this is expected to increase the demand for the product in both the pharmaceutical and cosmetic industry.
Bio-based Malonic Acid Market Segment Insights
Bio-based Malonic Acid Market Product Type Insights
Product Type Outlook Based on product type, bio-based malonic acid market is segmented into liquid and solid. Liquid segment is expected to obtain the largest share of the market in 2023 and is projected to grow continuously over the forecast period. Solid segment is anticipated to grow at a slower rate, however, still being beneficial for the overall market growth. The liquid segment is growing due to the increasing use of bio-based products in numerous industries such as food and beverage, personal care, and pharmaceuticals. Liquid bio-based malonic acid is used as an intermediate chemical to serve as a precursor to numerous other chemicals such as plasticizers, solvents, and detergents.It is also used in the food industry as a food additive and flavoring agent. The solid segment is likely to develop at a slower pace due to the growing use of bio-based malonic acid in liquid form. However, it is still used in some applications, such as to produce polymers and plastics. Taking everything into account, bio-based malonic acid market is expected to grow with a steady pace over the forecast period, driven by the growing consumer shift towards bio-based products and increased public awareness of the environment.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Bio-based Malonic Acid Market Application Insights
Applications Pharmaceuticals is projected to hold the largest market share in 2023, owing to the increasing consumption of bio-based chemicals in the pharmaceutical industry. The cosmetics segment is projected to register a growth in the consumption of bio-based malonic acid during the forecast period especially driven by the rise in demand for natural and organic cosmetics. The food and beverage segment is projected to witness a steady growth owing to the growing demand for natural and healthy food additives. The Industrial segment is projected to witness a moderate growth owing to the increasing utilization of bio-based malonic acid for the production of the biodegradable plastics and other industrial applications.
Bio-based Malonic Acid Market End-Use Industry Insights
The Bio-based Malonic Acid Market is segmented into various end-use industries, including Automotive, Agriculture, Electronics, and Construction. Each segment offers unique opportunities and challenges for market participants. The Automotive segment is expected to witness significant growth in the coming years due to the increasing demand for bio-based materials in vehicle production. Bio-based Malonic Acid is used in the manufacturing of bio-plastics, which are gaining popularity as sustainable alternatives to traditional plastics. The Agriculture segment is also projected to contribute to market growth, driven by the growing demand for bio-based fertilizers and pesticides.Electronics and Construction segments are also expected to witness steady growth, supported by the increasing adoption of bio-based materials in these industries.
Bio-based Malonic Acid Market Source Insights
The source segment plays a crucial role in shaping the dynamics of the Bio-based Malonic Acid Market. Among the key sources, Sugarcane holds a substantial market share, driven by its high availability and cost-effectiveness. The Bio-based Malonic Acid Market from Sugarcane is projected to reach USD 3.2 billion by 2032, exhibiting a significant growth potential. Corn is another important source, offering advantages such as high yield and adaptability to diverse climatic conditions. The Bio-based Malonic Acid Market from Corn is anticipated to grow steadily, reaching USD 2.6 billion by 2032.Cassava, known for its starch content and low production costs, is also gaining traction as a source for bio-based malonic acid. The Bio-based Malonic Acid Market from Cassava is estimated to reach USD 1.8 billion by 2032, showcasing the growing demand for sustainable and cost-effective feedstocks.
Bio-based Malonic Acid Market Regional Insights
The Bio-based Malonic Acid Market is witnessing a significant regional presence, with key markets being North America, Europe, APAC, South America, and MEA. Among these, North America is expected to hold a dominant share in the market, owing to the growing adoption of bio-based products and increasing demand from various end-use industries. The Bio-based Malonic Acid Market in North America is projected to reach USD 3.2 billion by 2024, exhibiting a steady growth rate. Europe is another major market for bio-based malonic acid, driven by stringent environmental regulations and a strong focus on sustainability.The Bio-based Malonic Acid Market in Europe is anticipated to reach USD 2.6 billion by 2024, expanding at a moderate pace. APAC region is witnessing a surge in demand for bio-based malonic acid due to the growing population, increasing disposable income, and rising environmental awareness. The Bio-based Malonic Acid Market in APAC is poised to reach USD 1.8 billion by 2024, showcasing a robust growth trajectory. South America and MEA are emerging markets for bio-based malonic acid, with potential for future growth driven by increasing industrialization and urbanization.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Bio-based Malonic Acid Market Key Players And Competitive Insights
Major players in Bio-based Malonic Acid Market industry are focusing on developing new products and expanding their production capacities to meet the growing demand. Leading Bio-based Malonic Acid Market players are also investing in research and development to improve the efficiency of their production processes and develop new applications for bio-based malonic acid. The Bio-based Malonic Acid Market industry is expected to witness significant growth in the coming years, driven by the increasing demand for bio-based products and the growing awareness of the environmental benefits of using bio-based materials.Bioamber, a leading player in the Bio-based Malonic Acid Market, is focused on developing and producing sustainable bio-based chemicals. The company's Susterra propanediol, a bio-based intermediate used to produce a variety of products, including bio-based malonic acid, is derived from renewable resources. Bioamber has a strong customer base and is expanding its production capacity to meet the growing demand for its products.Myriant, a competitor in the Bio-based Malonic Acid Market, is also a leading producer of bio-based chemicals. The company's bio-based succinic acid, a bio-based intermediate used to produce a variety of products, including bio-based malonic acid, is derived from renewable resources. Myriant has a strong customer base and is expanding its production capacity to meet the growing demand for its products.
Key Companies in the Bio-based Malonic Acid Market Include
Bio-based Malonic Acid Market Industry Developments
The bio-based malonic acid market is projected to grow from USD 10.2 billion in 2024 to USD 18.2 billion by 2032, exhibiting a CAGR of 8.64% during the forecast period. Rising demand for bio-based chemicals in various end-use industries such as food beverages, pharmaceuticals, and personal care is primarily driving the market growth. Additionally, increasing environmental concerns and stringent government regulations favoring sustainable practices are further propelling the adoption of bio-based malonic acid. Key recent developments include the strategic partnership between Myriant and Roquette to enhance bio-based malonic acid production capacity, and BASF's investment in expanding its bio-based succinic acid and malonic acid production facilities. These initiatives are expected to shape the future of the bio-based malonic acid market significantly.
Bio-based Malonic Acid Market Segmentation Insights
Bio-based Malonic Acid Market Product Type Outlook
Bio-based Malonic Acid Market Application Outlook
Bio-based Malonic Acid Market End-Use Industry Outlook
Bio-based Malonic Acid Market Source Outlook
Bio-based Malonic Acid Market Regional Outlook
| Report Attribute/Metric | Details |
| Market Size 2022 | 7.95(USD Billion) |
| Market Size 2023 | 8.64(USD Billion) |
| Market Size 2032 | 18.2(USD Billion) |
| Compound Annual Growth Rate (CAGR) | 8.64% (2024 - 2032) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year | 2023 |
| Market Forecast Period | 2024 - 2032 |
| Historical Data | 2019 - 2023 |
| Market Forecast Units | USD Billion |
| Key Companies Profiled | Beantown Chemical Corp., Changzhou Yabang Biological Technology Co. Ltd., Solvay, Hangzhou Quzhou Sunshine Biotechnology Co. Ltd., Citrique Belge, Foryou Organic Chemicals Co. Ltd., Xuchang Aonuo Biological Technology Co. Ltd., Evonik Industries AG, Hubei Xingfa Chemicals Co. Ltd., Nippon Shokubai Co. Ltd., Freyberg Fine Chemicals Austria, Angene International Limited, Changzhou Innochem Technology Co. Ltd., Hangzhou Alfa Chemistry Co. Ltd. |
| Segments Covered | Product Type, Application, End-Use Industry, Source, Regional |
| Key Market Opportunities | Rising demand for sustainable chemicals Growing applications in personal care Increasing adoption in pharmaceuticals |
| Key Market Dynamics | Rising demand for biodegradable plastics Growing consumer awareness of environmental sustainability Technological advancements in biobased manufacturing Increasing adoption in food and beverage industries Expansion of biobased malonic acid production capacity |
| Countries Covered | North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Bio-based Malonic Acid Market is expected to reach a value of 8.64 Billion USD in 2023.
The Bio-based Malonic Acid Market is projected to grow at a CAGR of 8.64% from 2024 to 2032.
North American region is expected to account for the largest share of the Bio-based Malonic Acid Market in 2023.
The pharmaceuticals segment is expected to be the major growth driver for the Bio-based Malonic Acid Market.
Some of the key competitors in the Bio-based Malonic Acid Market include BASF, Cargill, and Evonik.
The Bio-based Malonic Acid Market is expected to reach a value of 18.2 Billion USD by 2032.
The Asia-Pacific region is expected to witness the highest growth rate in the Bio-based Malonic Acid Market.
The growing demand for bio-based products and the increasing adoption of sustainable practices are driving the growth of the Bio-based Malonic Acid Market.
The high cost of production and the limited availability of raw materials are some of the challenges faced by the Bio-based Malonic Acid Market.
The increasing demand for bio-based products and the growing awareness of sustainability present significant opportunities for the Bio-based Malonic Acid Market.
Senior Research Analyst With an experience of over five years in market research industry (chemicals & materials domain), i gather and analyze market data from diverse sources to produce results, which are then presented back to a client. also, provide recommendations based on the findings. as a senior research analyst, i perform quality checks (qc) for market estimations, qc for reports, and handle queries and work extensively on client customizations. also, handle the responsibilities of client proposals, report planning, report finalization, and execution
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