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Bio-Succinic Acid Market to show $1.1 Billion by 2020 End : Europe region is expected to continue to lead the industry during forecast period

02-13-2019 02:28 PM CET | Industry, Real Estate & Construction

Press release from: Allied Market Research

Bio-Succinic Acid Market

Bio-Succinic Acid Market

Succinic acid is used as an intermediate chemical in a wide range of applications such as industry, food, cosmetics and pharmaceuticals. So far, the common source of succinic acid has been fossil fuels. However, petroleum-based succinic acid exhibits significant carbon footprint during the manufacturing process. These concerns are addressed through the bio-based succinic acid development process of agricultural raw materials. "At present, the price of bio-succinic acid can inhibit market growth at a cost greater than that of petroleum-based succinic acid." However, mass production and improvement of production technology will quickly solve the cost survival problem of the biosuccinic acid market. Clark. In addition, stable adoption in a variety of applications will reduce volatility in raw material prices.

Bio Succinic Acid Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $1.1 billion by 2020, registering a CAGR of 45.6% during the period 2013-2020.Increase in demand of bio-based chemicals is the major driver for this market. In addition, rising crude oil prices, adoption in newer industrial applications namely, 1, 4-Butanediol (BDO), PBS, polyester polyols (polyurethane), and plasticizers will enable faster growth of the market.

Request Sample/ TOC Report @ https://www.alliedmarketresearch.com/request-sample/178

Bio-succinic acid is currently being adopted the most in non-industrial applications such as food, pharmaceuticals and cosmetics. However, BDO is one of the major application segments of bio-succinic acid in terms of volume as well as revenue. This is mainly due to higher application of BDO as an intermediate chemical in production of THF (tetrahydrofuran), PBT (polybutylene terephtalate), and polyurethanes. Additionally, the larger volume of bio-succinic acid consumed as compared to maleic anhydride for production of BDO will also be the contributory to the growth of bio-succinic acid market. On the other hand, alkyd resins application is the fastest growing segment in terms of volume, growing at a CAGR of 93.6% during 2013-2020.

Geographical analysis of the market revealed that Europe is and will continue to be the leading revenue generating regional market till 2020. This is mainly due to strict regulatory imposition on the use of certain hazardous chemicals which pose as a threat to environment and human beings. Hence, to comply with the requirements, manufacturers are shifting to greener substitutes (bio-succinic acid). Asia Pacific is expected to be the fastest growing market at a CAGR of 49.5% during the analysis period.

The report has profiled some of the key players of the market such as BioAmber, Myraint, DSM, Mitsui & Co, Mitsubishi, BASF, Roquette Freres S.A., Purac and Reverdia.

Bio-Succinic Acid Market Segments

By Application

• Industrial Application

o 1,4-Butanediol (BDO)
o Polyester Polyols
o PBS
o Plasticizers
o Solvents & lubricants
o Alkyd Resins
o Resins, coatings, pigments
o De-icer solutions

• Food Application
• Pharma Application
• Cosmetics Application
• Others

By Geography

• North America
• Europe
• Asia Pacific
• RoW

For More Info Visit @ https://www.alliedmarketresearch.com/press-release/bio-succinic-acid-market-volume-is-expected-to-reach-710-kilo-tons-with-corresponding-revenue-of-1-1-billion-globally-in-2020.html

About us

Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small & medium enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.

Allied Market Research provides one stop solution from the beginning of data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients to understand the significance and impact of market dynamics. The company amplies client’s insight on the factors, such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligent support to aid the clients to turn into prominent business firm.

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