Bio succinic acid is primarily being used as a replacement for petrol based succinic acid in few applications such as solvents and lubricants, de-icer solutions, cosmetics, food and pharma. Furthermore, newer application such as 1,4-Butanediol (BDO), PBS, plasticizers and polyesters polyols market will accelerate the future growth of the market. Additionally, higher cost of crude oil, increase in investments for green chemicals, demand for renewable chemicals, and increase in government support will further boost the growth of the market. However, higher price of bio succinic acid and lengthy extraction processes are primarily restraining the market growth for the next few years.
Various industrial application markets analyzed in the study includes BDO, polyester polyols, PBS, plasticizers, resins, coatings, & pigments, solvents & lubricants, alkyd resins, and de-icer solutions. The resins, coatings, & pigments market generated maximum revenue in the year 2013. However, seven years down the line, BDO is expected to emerge as the largest application segment. This is largely due to higher consumption of bio succinic acid in the production of BDO, as a replacement of maleic anhydride. It is estimated that 1.2 MT of bio succinic acid is needed to replace 1 MT of maleic anhydride.
The global Bio Succinic Acid market was valued at 170 million US$ in 2018 and will reach 2220 million US$ by the end of 2025, growing at a CAGR of 38.3% 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:
Segment by Regions
Segment by Type
Ammonium Sulphate Process
Direct Crystallization Process
Segment by Application