Global Bio-based Succinic Acid Market: Snapshot

The global bio-based succinic acid market is projected to grow with increasing usability and rising number of players inclined towards bio-based methods of producing succinic acid as it helps in increasing the production volumes. Number of players are making constant efforts on green chemicals in both the developing and the developed economies, which creates a lucrative market for bio-based succinic acid market. Additionally, low carbon economy is also creating more demand for bio-based succinic acid in various parts of the world. Bio-based succinic acid is formed by succinic acid derived from plants and animals. The bio-based succinic acid is petroleum based, thus having a demand in coatings, esters, polymers, solvents, and plasticizers.

The market foe bio-based succinic acid is positively driven and as is expected to reach a valuation of US$0.9 bn during the forecast period from 2017 to 2026. The bio-based succinic acid market is also estimated to expand at a 20% CAGR. These favorable figures will drive the manufacturer to make deliberate efforts to tap the growing opportunities.

bio based succinic acid market

Bio-Based Succinic Acid Industry to Gain Traction through Increasing Chemical Industry

The global market for bio-based succinic acid is categorized on the basis of process type, end user, application, and region. In the end-user category, the chemical industry segment 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.

The increasing demand for bio-based succinic acid has significantly grown as it is the main component in building high value and commodity chemicals. Bio-succinic acid, a substantial compound plays a crucial role in bio-based economies. Additionally, increased demand for green chemicals has also boosted the demand for bio-based succinic acid as it helps in the production of bioplastics. Moreover, increasing need to replace butane-based maleic anhydride and enhancing development in bio-refining process has further fueled the market for bio-based succinic acid globally.

Despite various favorable factors supporting the growth of bio-based succinic acid market, high priced raw material will obstruct the market to a certain level.

On the basis of process type, ammonium sulphate process to persist higher demand for production of bio-based succinic acid.  The direct crystallization process takes the second place in bio-based succinic acid market. However, the revenue derived from the direct crystallization process to increase at a relatively higher CAGR from that of ammonium sulphate process by the end of 2026.

North America to Lead the Global Market for Bio-Based Succinic Acid

Globally, Europe is leading the bio-based succinic acid market as of 2017. Although, by the end of the tenure in 2026, North America is expected to be the leading region with the increasing number of market players. These two regions are anticipated to attain two-third of the total global revenue share during the forecast period of 2017 to 2026.

The competitive landscape describes the contribution of various industries working in the bio-based succinic acid market. Some of the key players are Corbion N.V, Roquette Frères S.A., BASF SE, Myriant Corporation, Koninklijke DSM N.V, and BioAmber Inc.

Transparency Market Research (TMR) has recently published a comprehensive report, which delivers precision analysis and insightful forecasts on the global bio-based succinic acid market. The report studies the global bio-based succinic acid market in detail, enveloping key market dynamics exhaustively. Along with providing information restraining factors, propelling factors, and trends that affect the market expansion, the report also delivers analysis on data across different parameters to reach at significant market numbers for bio-based succinic acid.

Report Structure

The report’s first chapter provides the executive summary of global bio-based succinic acid market. A précis of bio-based succinic acid market at a global level has been delivered in the report, coupled with relevant market numbers including the historical (2012-2016) and the forecast (2017-2026) compound annual growth rate (CAGR). Based on sales expansion and revenues reaped from bio-based succinic acid sales, the report offers information about remunerative regions for growth of the bio-based succinic acid market.

A chapter on the global bio-based succinic acid market’s overview follows the executive summary. This chapter incorporates a formal definition of “bio-based succinic acid”, which follows its market’s introduction. The overview of the market depicts a clear picture of the global bio-based succinic acid market’s broad scope to readers of the report. The chapters following the overview elucidate important dynamics impacting the global bio-based succinic acid market, engulfing key nodes such as the bottom line of enterprises, the fiscal stimulus, and the global economy. The report’s succeeding chapters include information associated with the market’s cost structure and pricing analysis.

Market Taxonomy

The report further examines the global market for bio-based succinic acid on the basis of a segmentation analysis. In this chapter, the market has been divided by the report in terms of four key segments viz. process type, end-user, application, and region. Market share comparison, along with Y-o-Y and revenue growth comparison of the market segments have been included in the report, for providing the most significant numbers corresponding to the segmentation analysis. Global bio-based succinic acid market has been categorized by the report into six key regions viz. Latin America, Japan, North America, Europe, Middle East & Africa (MEA), and Asia-Pacific excluding Japan (APEJ).

Region

Process Type

End User

Application

North America

Ammonium Sulphate Process

Chemical Industry

1,4-Butanediol

Latin America

Direct Crystallization Process

Food

Polybutylene Succinate

Europe

Electrodialysis Process

Pharmaceutical

Plasticizers

Japan

 

Personal Care

Polyester Polyols

APEJ

 

Agriculture

polymer and Esters

MEA

 

Other End Users

Solvents & Coatings

 

 

 

Other Applications

Competition Landscape

The report offers a scrupulous analysis on the competitive landscape of global bio-based succinic acid market, which incorporates information about prominent industries that are performing well in the global bio-based succinic acid market. Occupancy of key players in the market has been portrayed by the report with the aid of an intensity map. This culminating chapter of the report emphasizes on profiling key market players rigorously. Insights about the market players has been offered based on the SWOT analysis, which illuminates the strengths, weaknesses, opportunities, and threats impact that specific player. Information on the key developments, product overview, key financials, and company overview of the market players are also contained in this chapter. This chapter is crucial for report readers, as it gives all necessary information pertaining to companies, and their novel strategies for staying at the front edge of market.

Research Methodology

A comprehensive research methodology is adhered to by TMR’s analysts while developing market research reports, which help them in delivering precise & accurate forecasts and insights related to the intended product or process. The research methodology employed entirely relies upon primary and secondary researches, for further gaining necessary information on the global bio-based succinic acid market. The information aggregated is then validated by the analysts a couple of times, for ensuring it as an authoritative & authentic source of reference for clients while making their business decisions.

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