The Worldwide Bio Succinic Acid Industry is Projected to Reach $235 Million by 2030

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Sep 26, 2022, 08:45 ET

DUBLIN, Sept. 26, 2022 /PRNewswire/ -- The "Bio Succinic Acid Market By End Use: Global Opportunity Analysis and Industry Forecast, 2020-2030" report has been added to ResearchAndMarkets.com's offering.

The global bio succinic acid market was valued at $126.80 million in 2020, and is projected to reach $235.02 million by 2030, growing at a CAGR of 6.41% from 2021 to 2030.

Bio succinic acids is a natural green material that is used as an intermediate in a wide range of industrial applications in order to make plastics, polyurethanes, solvents, coatings, lubricants, and variety of other things. The major industrial product of succinic acid is Butanediol (BDO). BDO and its derivatives made from bio-succinic acid are the most used products in industries. It is utilized as an intermediate in engineering plastics and polyurethane systems.

The plasticizers made from bio-based succinic acids are used to provide heat resistance, food packaging. In addition, the eco-friendly succinic acid is also widely used in making resins, coatings and inks that are used in various industrial processes.

The increased applications of plastics in our everyday life and harmful impact of conventional plastics products on the environment have led to the invention of bio-plastics made from bio succinic acid. The surge in awareness among the people regarding health hassled to rise in the demand for pharmaceuticals, which boost the demand for bio succinic acid market as it is used in packaging and as raw material in the production of medicine related to joint pains.

The presence of disposable income and rapid change in the pace of life with demand for comfort has led to upsurge in the demand for cosmetics in the modern society, which has created opportunities for the growth of the market.

The fluctuations in raw materials prices and governmental regulations toward the petroleum related products have hampered market growth. The increase in urbanization has fueled the demand for bio succinic acid in Asia-Pacific. Moreover, the rise in overseas export activities is anticipated to surge in the demand for bio succinic acid in commercial applications.

The surge in the investment of the manufacturers to develop green materials for various industrial sectors is one among the key factors that drive the expansion of the bio succinic acids industry across the world. The favorable government policies in developing countries such as China, India, Brazil, and South Korea are driving the development of the green industrial chemicals manufacturers. In addition, the increase in the demand of bio-based succinic acid in North America, Asia-Pacific and Europe, are expected to proliferate and diversify the bio succinic acid market, thus acting as a chance for growth of the bio succinic acid market.

By end use, the global bio succinic acid market is segmented into industrial, food, pharmaceuticals, cosmetics and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The Asia-Pacific region accounted for the largest market share of the total revenue in 2020, followed by North America and Europe. The high adoption of eco-friendly products in the region is expected to continue to boost the bio succinic acid market, due to the presence of huge industrial infrastructure and complete low cost manufacturing conditions have created opportunities for the market growth.

The key players that operate in the global bio succinic acid market are BioAmber, Myraint, DSM, Mitsui & Co, Mitsubishi Corporation, BASF SE, RoquetteFrerse S.A, Purac, Kawasaki Kasei chemicals, and Reverdia. Other players in the value chain (not profiled in the report) include Cargill Incorporated, Nippon shokubai, The Dow Chemical Company, and others, etc., are competing for the share of the market through product launch, joint venture, partnership, and expanding the production capabilities to meet the future demand for the bio succinic acid market in the forecast period.

COVID-19 Impact Analysis

COVID-19 has severely impacted the global economy with devastating effects on global trade, which has simultaneously affected households, business, financial institution, industrial establishments, and infrastructure companies. The restrictions on international trade and lockdown regulations on the operations of the chemicals industry are projected to limit short term demand in the market.

Due to the pandemic, the demand for bio-succinic acid reduced steeply from the end-use industries. In addition, economic slowdown and strict lockdown further hampered the growth of the bio-succinic acid market. In addition, supply chain disruptions and unavailability of raw materials altered the growth outlook of the entire bio-succinic acid industry. Thus, this global health emergency has negatively impacted the global bio-succinic acid market.

Key Benefits For Stakeholders

This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the bio succinic acid market analysis from 2020 to 2030 to identify the prevailing bio succinic acid market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the bio succinic acid market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global bio succinic acid market trends, key players, market segments, application areas, and market growth strategies.

Key Topics Covered:

CHAPTER 1: INTRODUCTION

CHAPTER 2: EXECUTIVE SUMMARY

CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.2.1. Top investment pockets
3.3. Porter's five forces analysis
3.4. Top player positioning
3.5. Market dynamics
3.5.1. Drivers
3.5.2. Restraints
3.5.3. Opportunities
3.6. COVID-19 Impact Analysis on the market
3.7. Pricing Analysis
3.8. Value Chain Analysis
3.9. Key Regulation Analysis

CHAPTER 4: BIO SUCCINIC ACID MARKET, BY END USE
4.1 Overview
4.1.1 Market size and forecast
4.2 Industrial
4.2.1 Key market trends, growth factors and opportunities
4.2.2 Market size and forecast, by region
4.2.3 Market analysis by country
4.3 Food
4.3.1 Key market trends, growth factors and opportunities
4.3.2 Market size and forecast, by region
4.3.3 Market analysis by country
4.4 Pharmaceuticals
4.4.1 Key market trends, growth factors and opportunities
4.4.2 Market size and forecast, by region
4.4.3 Market analysis by country
4.5 Cosmetics
4.5.1 Key market trends, growth factors and opportunities
4.5.2 Market size and forecast, by region
4.5.3 Market analysis by country
4.6 Others
4.6.1 Key market trends, growth factors and opportunities
4.6.2 Market size and forecast, by region
4.6.3 Market analysis by country

CHAPTER 5: BIO SUCCINIC ACID MARKET, BY REGION

CHAPTER 6: COMPANY LANDSCAPE
6.1. Introduction
6.2. Top winning strategies
6.3. Product Mapping of Top 10 Player
6.4. Competitive Dashboard
6.5. Competitive Heatmap
6.6. Key developments

CHAPTER 7: COMPANY PROFILES
7.1 BASF SE
7.1.1 Company overview
7.1.2 Company snapshot
7.1.3 Operating business segments
7.1.4 Product portfolio
7.1.5 Business performance
7.1.6 Key strategic moves and developments
7.2 Bio Amber
7.2.1 Company overview
7.2.2 Company snapshot
7.2.3 Operating business segments
7.2.4 Product portfolio
7.2.5 Business performance
7.2.6 Key strategic moves and developments
7.3 DSM
7.3.1 Company overview
7.3.2 Company snapshot
7.3.3 Operating business segments
7.3.4 Product portfolio
7.3.5 Business performance
7.3.6 Key strategic moves and developments
7.4 Kawasaki Kasei chemicals
7.4.1 Company overview
7.4.2 Company snapshot
7.4.3 Operating business segments
7.4.4 Product portfolio
7.4.5 Business performance
7.4.6 Key strategic moves and developments
7.5 Mitsubishi Chemical Holdings
7.5.1 Company overview
7.5.2 Company snapshot
7.5.3 Operating business segments
7.5.4 Product portfolio
7.5.5 Business performance
7.5.6 Key strategic moves and developments
7.6 Mitsui Chemicals
7.6.1 Company overview
7.6.2 Company snapshot
7.6.3 Operating business segments
7.6.4 Product portfolio
7.6.5 Business performance
7.6.6 Key strategic moves and developments
7.7 Myriant
7.7.1 Company overview
7.7.2 Company snapshot
7.7.3 Operating business segments
7.7.4 Product portfolio
7.7.5 Business performance
7.7.6 Key strategic moves and developments
7.8 Purac
7.8.1 Company overview
7.8.2 Company snapshot
7.8.3 Operating business segments
7.8.4 Product portfolio
7.8.5 Business performance
7.8.6 Key strategic moves and developments
7.9 Reverdia
7.9.1 Company overview
7.9.2 Company snapshot
7.9.3 Operating business segments
7.9.4 Product portfolio
7.9.5 Business performance
7.9.6 Key strategic moves and developments
7.10 Roquette Freres S.A.
7.10.1 Company overview
7.10.2 Company snapshot
7.10.3 Operating business segments
7.10.4 Product portfolio
7.10.5 Business performance
7.10.6 Key strategic moves and developments