Succinic acid is a pivotal intermediate chemical that has a myriad of applications in the production of a wide variety of specialty and commodity chemicals. It is known to offer an extensive array of utilities encompassing polymers, food, metals, pharmaceuticals, coatings, fibers, solvents, lubricating oils, diesel fuel oxygenates and cosmetics among many others. On earlier accounts, petroleum was the sole source of deriving succinic acid but, in the recent times, the current manufacturing procedures have commenced making use of renewable feedstock for extracting this vital compound. This biological procedure of obtaining succinic acid is sustainable, efficient, economical and environment-friendly which all work towards giving rise to a greater demand in the market.
Increasing demand for BDO and its derivatives including Tetrahydrofuran (THF), Gamma-Butyrolactone (GBL), and Polybutylene Terephtalate (PBT) in numerous applications such as pharmaceuticals and engineering plastics is likely to stimulate the demand. In addition, growing applications in lubricants, pigments, personal care products, and food colorants will spur the market penetration. Growing awareness regarding the benefits of using bio-based chemicals in packaging and food industry is expected to drive the demand. Increasing use of bio-succinic on account of reduction in carbon footprints along with favorable regulatory support in light of rising awareness towards hazards associated with usage of petroleum-based chemicals is expected to augment market growth. Bio-succinic acid can be used as a replacement to phthalic anhydride in manufacturing alkyd resins and offers cost-effectiveness and environmental advantages, which in turn will propel its growth over the next six years.
In North America, factors such as volatility in prices of C4 petroleum-based feedstock have driven development of bio-based chemicals such as bio-based succinic acid. Several industries in the region have commenced commercializing the production of bio-based succinic acid via fermentation of sugars. Numerous large-scale production facilities of bio-based succinic acid have been erected in the region, which in turn are proliferating their demand and supply among end-users. North America is anticipated to become the largest market for bio-based succinic acid by 2026-end.
The global Bio-succinic Acid market was valued at xx million US$ in 2018 and will reach xx million US$ by the end of 2025, growing at a CAGR of xx% during 2019-2025.
This report focuses on Bio-succinic Acid volume and value at global level, regional level and company level. From a global perspective, this report represents overall Bio-succinic Acid market size by analyzing historical data and future prospect.
Regionally, this report categorizes the production, apparent consumption, export and import of Bio-succinic Acid in North America, Europe, China, Japan, Southeast Asia and India.
For each manufacturer covered, this report analyzes their Bio-succinic Acid manufacturing sites, capacity, production, ex-factory price, revenue and market share in global market.
The following manufacturers are covered:
BASF
Mitsubishi Chemical
Mitsui
DSM
Myriant
BioAmber
Reverdia
Corbion
Segment by Regions
North America
Europe
China
Japan
Southeast Asia
India
Segment by Type
Bio-Based
Petro-Based
Others
Segment by Application
Polyurethanes
Resins, Pigments & Coatings
Pharmaceuticals
PBS/PBST
Food & Beverage
Plasticizers
Personal Care
Solvents & Lubricants
De-icer Solutions
Others
Summary:
Get latest Market Research Reports on Bio-succinic Acid Market Professional Survey Report 2019. Industry analysis & Market Report on Bio-succinic Acid Market Professional Survey Report 2019 is a syndicated market report, published as Global Bio-succinic Acid Market Professional Survey Report 2019. It is complete Research Study and Industry Analysis of Bio-succinic Acid Market Professional Survey Report 2019 market, to understand, Market Demand, Growth, trends analysis and Factor Influencing market.