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.
In 2019, the market size of Bio-succinic Acid is xx million US$ and it will reach xx million US$ in 2025, growing at a CAGR of xx% from 2019; while in China, the market size is valued at xx million US$ and will increase to xx million US$ in 2025, with a CAGR of xx% during forecast period.
In this report, 2018 has been considered as the base year and 2019 to 2025 as the forecast period to estimate the market size for Bio-succinic Acid.
This report studies the global market size of Bio-succinic Acid, especially focuses on the key regions like United States, European Union, China, and other regions (Japan, Korea, India and Southeast Asia).
This study presents the Bio-succinic Acid production, revenue, market share and growth rate for each key company, and also covers the breakdown data (production, consumption, revenue and market share) by regions, type and applications. history breakdown data from 2014 to 2019, and forecast to 2025.
For top companies in United States, European Union and China, this report investigates and analyzes the production, value, price, market share and growth rate for the top manufacturers, key data from 2014 to 2019.
In global market, the following companies are covered:
BASF
Mitsubishi Chemical
Mitsui
DSM
Myriant
BioAmber
Reverdia
Corbion
Market Segment by Product Type
Bio-Based
Petro-Based
Others
Market Segment by Application
Polyurethanes
Resins, Pigments & Coatings
Pharmaceuticals
PBS/PBST
Food & Beverage
Plasticizers
Personal Care
Solvents & Lubricants
De-icer Solutions
Others
Key Regions split in this report: breakdown data for each region.
United States
China
European Union
Rest of World (Japan, Korea, India and Southeast Asia)
The study objectives are:
To analyze and research the Bio-succinic Acid status and future forecast in United States, European Union and China, involving sales, value (revenue), growth rate (CAGR), market share, historical and forecast.
To present the key Bio-succinic Acid manufacturers, presenting the sales, revenue, market share, and recent development for key players.
To split the breakdown data by regions, type, companies and applications
To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
To identify significant trends, drivers, influence factors in global and regions
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
In this study, the years considered to estimate the market size of Bio-succinic Acid are as follows:
History Year: 2014-2018
Base Year: 2018
Estimated Year: 2019
Forecast Year 2019 to 2025
Summary:
Get latest Market Research Reports on Bio-succinic Acid . Industry analysis & Market Report on Bio-succinic Acid is a syndicated market report, published as Global (United States, European Union and China) Bio-succinic Acid Market Research Report 2019-2025. It is complete Research Study and Industry Analysis of Bio-succinic Acid market, to understand, Market Demand, Growth, trends analysis and Factor Influencing market.