Global Bio-succinic Acid Market 2024 by Manufacturers, Regions, Type and Application, Forecast to 2030

Global Bio-succinic Acid Market 2024 by Manufacturers, Regions, Type and Application, Forecast to 2030

According to our (Global Info Research) latest study, the global Bio-succinic Acid market size was valued at USD 54 million in 2023 and is forecast to a readjusted size of USD 68 million by 2030 with a CAGR of 3.2% during review period.

Succinic acid is a pivotal intermediate chemical that has a myriad of applications in the production of a wide variety of specialty and commodity chemicals. It is known to offer an extensive array of utilities encompassing polymers, food, metals, pharmaceuticals, coatings, fibers, solvents, lubricating oils, diesel fuel oxygenates and cosmetics among many others. On earlier accounts, petroleum was the sole source of deriving succinic acid but, in the recent times, the current manufacturing procedures have commenced making use of renewable feedstock for extracting this vital compound. This biological procedure of obtaining succinic acid is sustainable, efficient, economical and environment-friendly which all work towards giving rise to a greater demand in the market.

Increasing demand for BDO and its derivatives including Tetrahydrofuran (THF), Gamma-Butyrolactone (GBL), and Polybutylene Terephtalate (PBT) in numerous applications such as pharmaceuticals and engineering plastics is likely to stimulate the demand. In addition, growing applications in lubricants, pigments, personal care products, and food colorants will spur the market penetration. Growing awareness regarding the benefits of using bio-based chemicals in packaging and food industry is expected to drive the demand. Increasing use of bio-succinic on account of reduction in carbon footprints along with favorable regulatory support in light of rising awareness towards hazards associated with usage of petroleum-based chemicals is expected to augment market growth. Bio-succinic acid can be used as a replacement to phthalic anhydride in manufacturing alkyd resins and offers cost-effectiveness and environmental advantages, which in turn will propel its growth over the next six years.

The Global Info Research report includes an overview of the development of the Bio-succinic Acid industry chain, the market status of Polyurethanes (Bio-Based, Petro-Based), Resins, Pigments & Coatings (Bio-Based, Petro-Based), and key enterprises in developed and developing market, and analysed the cutting-edge technology, patent, hot applications and market trends of Bio-succinic Acid.

Regionally, the report analyzes the Bio-succinic Acid markets in key regions. North America and Europe are experiencing steady growth, driven by government initiatives and increasing consumer awareness. Asia-Pacific, particularly China, leads the global Bio-succinic Acid market, with robust domestic demand, supportive policies, and a strong manufacturing base.

Key Features:

The report presents comprehensive understanding of the Bio-succinic Acid market. It provides a holistic view of the industry, as well as detailed insights into individual components and stakeholders. The report analysis market dynamics, trends, challenges, and opportunities within the Bio-succinic Acid industry.

The report involves analyzing the market at a macro level:

Market Sizing and Segmentation: Report collect data on the overall market size, including the sales quantity (K MT), revenue generated, and market share of different by Type (e.g., Bio-Based, Petro-Based).

Industry Analysis: Report analyse the broader industry trends, such as government policies and regulations, technological advancements, consumer preferences, and market dynamics. This analysis helps in understanding the key drivers and challenges influencing the Bio-succinic Acid market.

Regional Analysis: The report involves examining the Bio-succinic Acid market at a regional or national level. Report analyses regional factors such as government incentives, infrastructure development, economic conditions, and consumer behaviour to identify variations and opportunities within different markets.

Market Projections: Report covers the gathered data and analysis to make future projections and forecasts for the Bio-succinic Acid market. This may include estimating market growth rates, predicting market demand, and identifying emerging trends.

The report also involves a more granular approach to Bio-succinic Acid:

Company Analysis: Report covers individual Bio-succinic Acid manufacturers, suppliers, and other relevant industry players. This analysis includes studying their financial performance, market positioning, product portfolios, partnerships, and strategies.

Consumer Analysis: Report covers data on consumer behaviour, preferences, and attitudes towards Bio-succinic Acid This may involve surveys, interviews, and analysis of consumer reviews and feedback from different by Application (Polyurethanes, Resins, Pigments & Coatings).

Technology Analysis: Report covers specific technologies relevant to Bio-succinic Acid. It assesses the current state, advancements, and potential future developments in Bio-succinic Acid areas.

Competitive Landscape: By analyzing individual companies, suppliers, and consumers, the report present insights into the competitive landscape of the Bio-succinic Acid market. This analysis helps understand market share, competitive advantages, and potential areas for differentiation among industry players.

Market Validation: The report involves validating findings and projections through primary research, such as surveys, interviews, and focus groups.

Market Segmentation

Bio-succinic Acid market is split by Type and by Application. For the period 2019-2030, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of volume and value.

Market segment by Type
Bio-Based
Petro-Based
Others

Market segment by Application
Polyurethanes
Resins, Pigments & Coatings
Pharmaceuticals
PBS/PBST
Food & Beverage
Plasticizers
Personal Care
Solvents & Lubricants
De-icer Solutions

Major players covered
BASF
Mitsubishi Chemical
Mitsui
DSM
Myriant
Reverdia
Corbion

Market segment by region, regional analysis covers
North America (United States, Canada and Mexico)
Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)
Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)
South America (Brazil, Argentina, Colombia, and Rest of South America)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)

The content of the study subjects, includes a total of 15 chapters:

Chapter 1, to describe Bio-succinic Acid product scope, market overview, market estimation caveats and base year.

Chapter 2, to profile the top manufacturers of Bio-succinic Acid, with price, sales, revenue and global market share of Bio-succinic Acid from 2019 to 2024.

Chapter 3, the Bio-succinic Acid competitive situation, sales quantity, revenue and global market share of top manufacturers are analyzed emphatically by landscape contrast.

Chapter 4, the Bio-succinic Acid breakdown data are shown at the regional level, to show the sales quantity, consumption value and growth by regions, from 2019 to 2030.

Chapter 5 and 6, to segment the sales by Type and application, with sales market share and growth rate by type, application, from 2019 to 2030.

Chapter 7, 8, 9, 10 and 11, to break the sales data at the country level, with sales quantity, consumption value and market share for key countries in the world, from 2017 to 2023.and Bio-succinic Acid market forecast, by regions, type and application, with sales and revenue, from 2025 to 2030.

Chapter 12, market dynamics, drivers, restraints, trends and Porters Five Forces analysis.

Chapter 13, the key raw materials and key suppliers, and industry chain of Bio-succinic Acid.

Chapter 14 and 15, to describe Bio-succinic Acid sales channel, distributors, customers, research findings and conclusion.