Press release
Bio Succinic Acid Market Size, Trends, Scope and Growth Analysis to 2030
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Bio Succinic Acid Market Dynamics
Increasing demand for BDO and its derivatives, including Tetrahydrofuran (THF), Gamma-Butyrolactone (GBL), and Polybutylene Terephthalate (PBT), is projected to propel the growth of the bio succinic acid market over the forecast period. Strict environmental regulations and a rising inclination towards bio-based products are projected to boost the growth of the bio succinic acid market.
Bio Succinic acid boosts the consistency and functionality of powder coating resins by increasing the bio-based content and minimizing the reactive resin content such as urethane, alkyd, and polyester. This facilitates its use in the preparation of liquid polyester resins from solvents. This factor is expected to propel the bio succinic acid market growth.
The broadening range of application areas, including lubricants, pigments, personal care goods, and food colorants, further boosts the market's growth. Moreover, the rising awareness about the benefits of using bio-based chemicals in the food and packaging industries will further boost the demand for bio succinic acid in the global market.
Impact of COVID-19 on Bio Succinic Acid Market:
The COVID-19 crisis has significantly affected the bio succinic acid market resulting in a decrease in overall demand. The economic slowdown, strict lockdown, and the following recession resulted in a major decrease in demand for products of the end-use applications, which in turn has negatively impacted the bio succinic acid market. The massive disruption in the supply chain resulted in delays or non-arrival of raw materials, disrupted financial flows, and growing absenteeism among production line workers who have been compelled to operate at zero or partial capacities, resulting in reduced bio succinic acid demand.
Scope of the Report
The global bio succinic acid market has been segmented based on the application segment.
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Based on the application, the bio succinic acid market has been segmented into -
1-Butanediol
4-Butanediol (BDO)
Polyester Polyols
PBS
Plasticizers
Solvents & lubricants
Alkyd Resins
Resins
Coatings
Pigments
De-Icer Solutions
Bio Succinic Acid Market: Regional Outlook
Geographically, the bio succinic acid market has been segmented into the Asia Pacific, Europe, North America, South America, the Middle East, and Africa. In 2020, Europe dominated the market for bio succinic acid. It was expected to maintain its dominance over the forecast period because of the presence of large producers on the market for bio succinic acid. Furthermore, stringent carbon footprint regulations in Europe have allowed the substantial application of bio succinic acid in various chemical production units, thereby accounting for the swelling market size of bio succinic acid. The Asia Pacific is expected to witness the highest growth during the forecast period due to the rapid economic growth and increased customer awareness.
Key Global Bio Succinic Acid Market Competitors Includes -
The global bio succinic acid market is highly fragmented, with the presence of a large number of players across the globe. The bio succinic acid manufacturers operating in the global market are -
BioAmber
Myraint
DSM
Mitsui & Co
Mitsubishi
BASF
Roquette Frerse S.A
Purac
Reverdia.
The key players in the bio succinic acid market are focusing on growth strategies such as expansion, acquisitions, joint ventures, new product lines, and advanced technology adaption globally to enhance their market share. The report will include an in-depth qualitative and quantitative assessment of the segmental/regional outlook with the market players' presence in the respective segment and region/country.
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Bio Succinic Acid Market Report Covers Comprehensive Analysis On:
Market Segmentation & Regional Analysis
Market Size of 10 years
Pricing Analysis
Supply & Demand Analysis
Product Life Cycle Analysis
Porter's Five Forces & Value Chain Analysis
Developed & Emerging Economies Analysis
PEST Analysis
Market and Forecast Factor Analysis
Market Opportunities, Risks, & Trends
Conclusion & Recommendation
Regulatory Landscape
Patent Analysis
Competition Landscape
15+ Company Profiles
Bio Succinic Acid Market Regional Analysis Includes:
North America (US, Canada, Mexico)
South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
Europe (Germany, Italy, France, UK, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, the Netherlands, Norway, Sweden, Denmark, Rest of Europe)
Asia Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, the Philippines, Singapore, Australia & New Zealand, Rest of Asia Pacific)
The Middle East & Africa (Saudi Arabia, UAE, South Africa, Northern Africa, Rest of MEA
Bio Succinic Acid Market: Target Audience
Bio succinic acid manufacturers, distributors, and vendors
Chemical companies
Research labs - Universities and private institutions
Trade publications and magazines
Government authorities, associations, and organizations
Key Issues Addressed
What is the market size by various segmentation of the bio succinic acid by region and its respective countries?
What are the customer buying behavior, key takeaways, and Porter's 5 forces of the bio succinic acid market?
What are the key opportunities and trends for manufacturers involved in the bio succinic acid supply chain?
What are the fundamental dynamics (drivers, restraints, opportunities, and challenges) of the market?
What and how regulations, schemes, patents, and policies are impacting the growth of the market?
What are the upcoming technological solutions influencing market trends? How will existing companies adapt to the new change in technology?
What will be the impact of cutting-edge technology on the bio succinic acid market?
How has COVID-19 impacted the demand and sales of bio succinic acid in the global market? Also, the expected BPS drop or rise count of the market and market expected recovery period.
Detailed analysis of the competitors and their latest launch, and what are the prominent startups introduced in the target market? Also, detailed company profiling of 25+ leading and prominent companies in the market.
What is the size of the global bio succinic acid market?
The global bio-succinic acid market size was around USD 188.62 million in 2020 and reach USD 962.47 million in 2027.
What is the bio succinic acid market growth?
The global bio-succinic acid market size was estimated to register a CAGR of 31.12% during the forecast period, 2021-2027.
Which region accounted for the largest bio succinic acid market share?
In 2020, Europe dominated the market for bio succinic acid. It was expected to maintain its dominance over the forecast period because of the presence of large producers on the market for bio succinic acid.
Who are the key manufactures in the market of bio succinic acid?
The bio succinic acid manufacturers operating in the global market are BioAmber, Myraint, DSM, Mitsui & Co, Mitsubishi, and BASF.
What are the factors that are driving the bio succinic acid market worldwide?
Key factors that are driving the bio succinic acid market growth include increasing demand for BDO and its derivatives, Strict environmental regulations and a rising inclination towards bio-based products, and The broadening range of application areas, including lubricants, pigments, personal care goods, and food colorants, further boosts the market's growth.
Infographics
The infographic presentation represents a brief outline of the research findings and highlights the key trends deliberated in it.
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