Bio-Based Succinic Acid Market, Size, Share, Outlook and Growth Opportunities 2019-2026
Global Bio-succinic Acid Market is segmented By Application (1, 4-Butanediol, Polybutylene Succinate, Plasticizers, Polyester Polyols, Polymers and Esters, Others), By End User (Chemical Industry, Food and Beverages, Pharmaceutical, Personal Care, Agricul
(EMAILWIRE.COM, April 09, 2020 ) Market Overview
The Global Bio-Based Succinic Acid Market is expected to grow at a CAGR of 45.60% during the forecasting period (2019-2026).
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 the Spirit of Amber. It is used as a flavoring agent for food and beverages, intermediate for dyes, perfumes, lacquers, photographic chemicals, alkyd resins, plasticizers, metal treatment chemicals, and coatings.
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Market Drivers and Restraints
The growing manufacturing industries are increasing the demand for Bio-based succinic acid. Growing demand for green chemicals has also boosted the market for bio-based succinic acid as it helps in the production of bioplastics.
Also, expanding need to replace butane-based maleic anhydride and upgrading improvement in the bio-refining process has additionally 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 utilization, for example, solvents and oils, de-icer solutions, beautifiers, food, and pharma. Moreover, new application, for instance, 1,4-Butanediol (BDO), PBS, plasticizers and polyesters polyols market will quicken the future development of the market.
However, the high processing cost of Bio-Based Succinic Acid is a significant restraint to the growth of the market.
Market Outlook
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 use 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 the highest market share in 2017 and is expected to create an 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 used mainly in the production of 1,4 Butanediol (BDO) as a substitute for maleic anhydride. It is estimated that 1.2 MT of bio-succinic acid is needed to replace 1 MT of maleic anhydride.
Geographical Analysis
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, significant production facilities, and a robust industrial base for chemical, pharmaceutical, food and beverages, and end-user sectors.
Manufacturers in the North American region are highly focussed on the development of bio-based succinic acid because of the stringent regulations in the area 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 demand 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 labor, easy availability of raw materials, and favorable 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 area because of its various applications in the industry.
Competitive Landscape
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 producers of succinic acid. Other prominent players of the report include 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.
View full report: https://www.datamintelligence.com/research-report/bio-based-succinic-acid-market
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About Us
DataM Intelligence was incorporated in the early weeks of 2017 as a Market Research and Consulting firm with just two people on board. Within a span of less than a year we have secured more than 100 unique customers from established organizations all over the world.
For more information:
Sai Kiran
Sales Manager at DataM Intelligence
Email: info@datamintelligence.com
Tel: +1 877 441 4866
Website: www.datamintelligence.com
The Global Bio-Based Succinic Acid Market is expected to grow at a CAGR of 45.60% during the forecasting period (2019-2026).
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 the Spirit of Amber. It is used as a flavoring agent for food and beverages, intermediate for dyes, perfumes, lacquers, photographic chemicals, alkyd resins, plasticizers, metal treatment chemicals, and coatings.
Download free sample: https://www.datamintelligence.com/download-sample/bio-based-succinic-acid-market
Market Drivers and Restraints
The growing manufacturing industries are increasing the demand for Bio-based succinic acid. Growing demand for green chemicals has also boosted the market for bio-based succinic acid as it helps in the production of bioplastics.
Also, expanding need to replace butane-based maleic anhydride and upgrading improvement in the bio-refining process has additionally 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 utilization, for example, solvents and oils, de-icer solutions, beautifiers, food, and pharma. Moreover, new application, for instance, 1,4-Butanediol (BDO), PBS, plasticizers and polyesters polyols market will quicken the future development of the market.
However, the high processing cost of Bio-Based Succinic Acid is a significant restraint to the growth of the market.
Market Outlook
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 use 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 the highest market share in 2017 and is expected to create an 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 used mainly in the production of 1,4 Butanediol (BDO) as a substitute for maleic anhydride. It is estimated that 1.2 MT of bio-succinic acid is needed to replace 1 MT of maleic anhydride.
Geographical Analysis
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, significant production facilities, and a robust industrial base for chemical, pharmaceutical, food and beverages, and end-user sectors.
Manufacturers in the North American region are highly focussed on the development of bio-based succinic acid because of the stringent regulations in the area 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 demand 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 labor, easy availability of raw materials, and favorable 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 area because of its various applications in the industry.
Competitive Landscape
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 producers of succinic acid. Other prominent players of the report include 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.
View full report: https://www.datamintelligence.com/research-report/bio-based-succinic-acid-market
Enquiry before buying: https://www.datamintelligence.com/enquiry/bio-based-succinic-acid-market
About Us
DataM Intelligence was incorporated in the early weeks of 2017 as a Market Research and Consulting firm with just two people on board. Within a span of less than a year we have secured more than 100 unique customers from established organizations all over the world.
For more information:
Sai Kiran
Sales Manager at DataM Intelligence
Email: info@datamintelligence.com
Tel: +1 877 441 4866
Website: www.datamintelligence.com
Contact Information:
DataM Intelligence
Sai Kiran
Tel: +1 877 441 4866
Email us
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DataM Intelligence
Sai Kiran
Tel: +1 877 441 4866
Email us
----
This press release is posted on EmailWire.com -- a global newswire that provides Press Release Distribution Services with Guaranteed Results