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.
In 2019, the market size of Bio Succinic Acid is 170 million US$ and it will reach 2220 million US$ in 2025, growing at a CAGR of 38.3% 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 Bio Succinic Acid report investigates and analyzes the production, value, price, market share and growth rate for the top manufacturers, key data from 2014 to 2019.
1 Report Overview 1.1 Research Scope 1.2 Major Manufacturers Covered in This Report 1.3 Market Segment by Type 1.3.1 Global Bio Succinic Acid Market Size Growth Rate by Type (2019-2025) 1.3.2 Ammonium Sulphate Process 1.3.3 Direct Crystallization Process 1.3.4 Electrodialysis Process 1.3.5 Others 1.4 Market Segment by Application 1.4.1 Global Bio Succinic Acid Market Share by Application (2019-2025) 1.4.2 Industrial Application 1.4.3 Food Application 1.4.4 Pharma Application 1.4.5 Cosmetics Application 1.4.6 Others 1.5 Study Objectives 1.6 Years Considered
2 Global Growth Trends 2.1 Production and Capacity Analysis 2.1.1 Global Bio Succinic Acid Production Value 2014-2025 2.1.2 Global Bio Succinic Acid Production 2014-2025 2.1.3 Global Bio Succinic Acid Capacity 2014-2025 2.1.4 Global Bio Succinic Acid Marketing Pricing and Trends 2.2 Key Producers Growth Rate (CAGR) 2019-2025 2.2.1 Global Bio Succinic Acid Market Size CAGR of Key Regions 2.2.2 Global Bio Succinic Acid Market Share of Key Regions 2.3 Industry Trends 2.3.1 Market Top Trends 2.3.2 Market Drivers
3 Market Share by Manufacturers 3.1 Capacity and Production by Manufacturers 3.1.1 Global Bio Succinic Acid Capacity by Manufacturers
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