The growing applications of bio-based succinic acid for numerous consumer acids, packaging applications, and plastics for changing lifestyle is fuelling the bio-based succinic acid market, says a TMR study. This includes disposable syringes, biodegradable food containers, PET bottles, and blood bags to serve various end-use industries. The increasing shift toward green chemicals to reduce the carbon footprint is creating demand for bio-based succinic acid. So much so, bio-based succinic acid has received recognition as a platform chemical for industrial use in several countries world over.
The growing popularity of bio-based succinic acid as a potential substitute for petroleum-based derivatives is fuelling the bio-based succinic acid market.
The demand for bio-based succinic acid is anticipated to continue to rise for its expanding applications. For example, polyester polyols is anticipated to display significant demand for bio-based succinic acid. Besides this, bio-based succinic acid has nearly replaced butane-based maleic anhydride and is finding significant application as an intermediate chemical in bio-refining.
The collective assessment of these factors estimate the bio-based succinic acid market to expand at nearly 20% CAGR for the 2017 – 2026 forecast period.
The report studies the bio-based succinic acid market on the basis of process type, application, end user, and region. The ammonium sulphate process type holds significant market share in the bio-based succinic acid market followed by direct crystallization process type. During the forecast period, direct crystallization process is anticipated to account for higher revenue contribution to the bio-based succinic acid market, find analysts of the report.
Chemical Segment to Remain Key End User
Key end users of the bio-based succinic acid market studied in the report are chemical, food, personal care, pharmaceutical, and agriculture. The chemical end user segment is likely to hold the leading share of the bio-based succinic acid market due to the growing acceptance of bio-based succinic acid as a high-value commodity chemical.
Among leading applications, bio-based succinic acid is witnessing significant demand in the production of 1,4 butanediol.
The plant-based origin of bio-based succinic acid is leading to its increasing demand for a number of chemical intermediates in the manufacture of lubricants, solvents, coatings, plastics, and polyurethanes among others. The availability of an alternative to conventional petroleum-based succinic acid, which is associated with carbon footprint and high cost factor is likely to support rapid growth of the bio-based succinic acid market.
The growing industrial applications of succinic acid both bio-based and conventional is likely to accelerate growth in the bio-based succinic acid market. The demand for bio-based succinic acid in food packaging of PBS/PBST is due to its non-toxicity. Biodegradability, higher heat tolerance, and processability in comparison to other types of biopolymers are added advantages of bio-based succinic acid.
The use of succinic acid as a central component in a number of secondary chemicals creates ample opportunities in the bio-based succinic acid market. Polyurethane, solvents, and lubricants are some secondary chemicals that use succinic acid extensively.
Availability in Few Variants Expands Scope of Application
The availability of a few variants of bio-based succinic acid favors the growth of bio-based succinic acid market. For example, the succinic acid biopolymer formed by succinic acid and 1,4-BDO is polybutylene succinate (PBS). PBS is characteristic of to be turned into composites by adding the fibers with several other materials that results into improved material properties and possibility of expanded applications.
PBS is characteristic of delayed release of intermediate products or mulching films for pesticides and fertilizers. Some other applications of PBS is encapsulation device in the medial sector and is further under testing for medical implants. The expanding scope of applications of PBS will stimulate the bio-based succinic acid market.
The bio-based succinic acid market is segmented as follows;
- Ammonium Sulphate Process
- Direct Crystallization Process
- Electrodialysis Process
- Chemical Industry
- Personal Care
- 1,4 Butanediol
- Polybutylene Succinate
- Polybutylene Succinate
- Polyester Polyols
- Polymer and Esters
- Solvents & Coatings
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East and Africa
- Saudi Arabia
- Rest of Middle East and Africa
- Latin America
- Rest of Latin America
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