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 the growing commercial value of bio succinic acid and new emerging uses in dietary supplements, pharmaceuticals and preparation of tropical medicines for arthritis and joint pain. Major factors driving the prominence of bio succinic acid include technology innovation in manufacturing and processing; and growing preference over fossil fuel-based alternatives due to benefits such as cost effectiveness, low carbon footprint and reduced price volatility. Strong growth is forecast to come from increased use of bio succinic acid in manufacturing biodegradable plastics, plastic bags, garbage bags, packaging film, and bottles. Other interesting application areas with strong potential to drive consumption patterns include automotive engineering, construction, sportswear, furniture and nonwovens and fiber production. Europe represents the largest market worldwide. Asia-Pacific ranks as the fastest growing market with a CAGR of 24.9% over the analysis period, led by favorable macroeconomic factors that drive growth of downstream industries; emergence of Asian countries as global production hubs for a wide range of products such as food & beverage, personal care, pharmaceuticals, industrial chemicals and plastics, among others.
- Manufacturing Innovation that Enables Efficient Production of High Quality Biobased Succinic Acid to Help Spur Market Growth
- Rising Concerns Over Greenhouse Gas Carbon Dioxide (CO2) Emissions & Stringent Regulations Curbing the Use of Petrochemically Derived Succinic Acid to Drive Demand for Biobased Succinic Acid
- Strong Bioplastics, Solvents, Polyurethanes & Plasticizers Markets to Spur Consumption of Succinic Acid
- Advancements in Fermentation Techniques Involving the Use of Basfia Succiniciproducens as Feedstock to Benefit Market Growth
- Rising Focus on Renewable Chemicals Reduces the Popularity of Succinic Produced Through Hydrogenation of Maleic Acid
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