Global Bio-succinic Acid Market Growth 2023-2029

Global Bio-succinic Acid Market Growth 2023-2029

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.

LPI (LP Information)' newest research report, the “Bio-succinic Acid Industry Forecast” looks at past sales and reviews total world Bio-succinic Acid sales in 2022, providing a comprehensive analysis by region and market sector of projected Bio-succinic Acid sales for 2023 through 2029. With Bio-succinic Acid sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Bio-succinic Acid industry.

This Insight Report provides a comprehensive analysis of the global Bio-succinic Acid landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Bio-succinic Acid portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms' unique position in an accelerating global Bio-succinic Acid market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Bio-succinic Acid and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Bio-succinic Acid.

The global Bio-succinic Acid market size is projected to grow from US$ 426.4 million in 2022 to US$ 4129.6 million in 2029; it is expected to grow at a CAGR of 4129.6 from 2023 to 2029.

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.

This report presents a comprehensive overview, market shares, and growth opportunities of Bio-succinic Acid market by product type, application, key manufacturers and key regions and countries.

Market Segmentation:

Segmentation by type
Bio-Based
Petro-Based
Others

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

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
BASF
Mitsubishi Chemical
Mitsui
DSM
Myriant
Reverdia
Corbion

Key Questions Addressed in this Report

What is the 10-year outlook for the global Bio-succinic Acid market?

What factors are driving Bio-succinic Acid market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Bio-succinic Acid market opportunities vary by end market size?

How does Bio-succinic Acid break out type, application?

What are the influences of COVID-19 and Russia-Ukraine war?

Please note: The report will take approximately 2 business days to prepare and deliver.