Encouraging Demand for Bio-Succinic Acid to Drive the Market for Succinic Acid
Published: February 2017
- Code: MCP-6533
- Pages: 209
- Tables: 98
- Companies: 22
SUCCINIC ACID: A RESEARCH BRIEF
The global market for Succinic Acid is projected to reach US$1.1 billion by 2022, driven by encouraging demand for bio-based succinic acid and expanding applications in various industries. The growth in the bio-based succinic acid market is due to its attributes including cost benefits, low carbon footprint, and reduced price volatility as compared to fossil fuel-based alternatives. A major driving force for the bio-based succinic acid market is the growing need for green substitutes for chemicals used in the production of polymers and other complex derivatives. Market growth is also driven by technological advancements, developmental strategies, new capacity expansion projects, and improved R&D investments by players. Europe represents the largest market worldwide. Asia-Pacific ranks as the fastest growing market at a CAGR of 24.9% over the analysis period. The growth in the market is led by rapid growth of downstream industries in countries such as India and China and fast-paced economic growth and increased activity in end-use sectors such as food & beverage, personal care, pharmaceuticals and industrial manufacturing among others.
- Bio-Succinic Acid Evolves as An Attractive Market for Chemical Companies
- Rising Demand for Bio-Plastics Spur Opportunities for Bio-Succinic Acid Market
- Versatility and Cost Advantage Drives Growth in the Bio-Based Succinic Acid Market
- Need to Reduce Dependency on Petroleum and Petroleum Products Drives the Shift towards a Bio-Based Economy
- Growing Customer Awareness about Sustainable Chemicals Drives Demand for Renewable Materials
Summary of Findings
- Market Estimates and Forecasts for 2015-2022
- Historic Review 2009-2014
Timeline for Analysis
- US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, and Rest of Asia-Pacific), Latin America (Brazil and Rest of Latin America), and Rest of World
Geographic Markets Analyzed
- End-Use Segments:
- BDO, Food, Pharmaceuticals, PBS, PBST, Polyester Polyols, and Others.
Market Segmentation & Classification
- Anhui Sunsing Chemicals Co., Ltd.
- Anqing Hexing Chemical Co., Ltd.
- BASF SE
- BioAmber Inc.
- Gadiv Petrochemical Industries Ltd.
- Kawasaki Kasei Chemicals Ltd.
- Linyi Lixing Chemical Co., Ltd. Mitsui & Co. Ltd.
KEY RESEARCH DELIVERABLES
- Review of Industry/Market Structure
- Analysis of Trends & Drivers
- Insights on Macro Market Scenarios
- Market SWOT Analysis
- Latent Demand Forecasts & Projections
- Comprehensive Geographic Market Analysis
- Presentation Ready Facts & Statistical Data Findings
- Coverage of Major/Niche Players, Market Shares & Competition
- Coverage of major Company/Technology/Product/Financial Stories
- Extensive Product/Service/End-Use/Technology Coverage Where Applicable