Global Bio-Based Succinic Acid Market - 2019-2026
The global Bio-Based Succinic Acid market was valued at USD xx million in 2017 and is esti-mated to reach USD xx million by 2025, with a CAGR of xx% during the forecast period from 2018 to 2025. Bio-Based Succinic Acid is a dicarboxylic acid with the chemical formula (CH2)2(CO2H)2 that occurs naturally in plant and animal tissues. It is also known as Spirit of Amber”. It is used as a flavouring agent for food and beverages, intermediate for dyes, per-fumes, lacquers, photographic chemicals, alkyd resins, plasticizers, metal treatment chemi-cals, and coatings.
Drivers & Restraints
The growing manufacturing industries are increasing the demand for Bio-based succinic ac-id. Increasing demand for green chemicals is also boosted the market for bio-based succinic acid as it helps in the production of bio-plastics. In addition, expanding need to replace bu-tane-based maleic anhydride and upgrading improvement in bio-refining process has addi-tionally filled the market for bio-based succinic acid globally.
Bio succinic acid is principally being utilized as a replacement for petroleum based succinic acid in few of utilizations, for example, solvents and oils, de-icer solutions, beautifiers, food and pharma. Moreover, new application, for example, 1,4-Butanediol (BDO), PBS, plasticiz-ers and polyesters polyols market will quicken the future development of the market.
However, the high processing cost of Bio-Based Succinic Acid is a major restraint to the growth of the market.
The global Bio-Based Succinic Acid market report segments the market by application and end user. The demand for bio-based Bio-Based Succinic Acid is estimated to increase exponentially in the coming years because of the increasing application and adoption of greener and sustainable chemicals globally.
Further, the end user segment classifies the market as chemical, food and beverages, pharmaceutical, agriculture, personal care, and others. The chemical industry segment holds highest market share in 2017 and is expected to create increasing demand for the bio-based succinic acid market. New applications to use bio-based succinic acid are continuously required in the chemical sector. Additionally, by implementing bio-based succinic acid in the chemical industry will further surge the market to draw sustainable solutions. Thus, these solutions will help in developing new products and further benefit to enhance environmental footprints. Bio-based succinic acid is largely used in the production of 1,4 Butanediol (BDO) as a substitute of maleic anhydride. It is estimated that 1.2 MT of bio succinic acid is needed to replace 1 MT of maleic anhydride.
Chemical Industry 30%
Food and Beverages 10%
Personal Care 15%
The report segments the market by geographic region which includes North America, South America, Europe, Asia-Pacific, and rest of the world. North America is the largest market for Bio-Based Succinic Acid owing to the high investments, large production facilities, and a strong industrial base for chemical, pharmaceutical, food and beverages, and end-user sec-tors. Manufacturers in the North American region are highly focussed on the development of bio-based succinic acid because of the stringent regulations in the region over the use of chemicals which pose a threat to the environment as well as human. The growing demand for eco-friendly bio-based materials in food and beverages, and pharmaceuticals sector is also leading to the growth of bio-based succinic acid in the region. Thus, the increasing de-mand for bio-based succinic acid is expected to propel the North America bio-based succinic acid market during the forecast period.
Asia-Pacific is estimated to be the fastest growing region during the forecast period owing to the high development in the application industries for bio-based succinic acid. Factors like low-cost labour, easy availability of raw materials, and favourable government policies in countries like India and China are boosting the manufacturing sector in the region, and the number of production plants is continuously increasing in this region. Thus, the growth in the manufacturing sector in the region will boost the demand of bio-based succinic acid in the region because of its various applications in the industry.
Title: Global Bio-Based Succinic Acid Market Share – By Geogra-phy, 2017
North America 40%
South America 5%
Rest of the World 5%
The global succinic market is highly fragmented with many local and international players. However, the international players such as BASF, DSM N.V, and BioAmber are leading pro-ducers of succinic acid. Other prominent players of the report includes Myriant, Nippon Shokubai, Succinity, Kawasaki Kasei Chemicals, Mitsubishi Chemical Holdings, Anhui Sunsing Chemicals, Reverdia, Linyi Lixing Chemical Co., Ltd., Gadiv Petrochemical Industries Ltd., Yantai Shanshui Chemical Technology.
Why purchase the report
• Visualize the composition of the Bio-Based Succinic Acid market across each indica-tion, in terms of type and application highlighting the key commercial assets and players.
• Identify commercial opportunities in Bio-Based Succinic Acid market by analyzing trends and co-development deals.
• Excel data sheet with thousands of data points of the Bio-Based Succinic Acid market level 4/5 segmentation
• PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study
• Product mapping in excel for the key Bio-Based Succinic Acid market products of all major market players
• Raw Material Suppliers/ Buyers
• Product Suppliers/ Buyers
• Industry Investors/Investment Bankers
• Education & Research Institutes
• Research Professionals
• Emerging Companies
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