The global Bio-Based Succinic Acid Market is expected to register a CAGR of 19.6% during the forecast period, 2022–2030.
The global bio-based succinic acid market has been segmented on the basis of processed type, application, end-use industry, and region.
Based on processed type, the global bio-based succinic acid has been divided into ammonium sulphate process, direct crystallization process, and electrodialysis process. The ammonium sulphate segment held the largest share of the global bio-based succinic acid market in 2018. The easy availability of ammonium sulphate is expected to be the prime reason for the growth of the segment. The segment is expected to continue the trend during the forecast period.
By application, the global bio-based succinic acid market has been classified into 1, 4 butanediol, polybutylene succinate, plasticizers, polyester polyols, polymers & esters, solvents & coatings, and others. The 1,4 butanediol segment accounted for the largest share of the global bio-succinic acid market in 2018. It is used as an industrial chemical and as a solvent starting material for many important industrial chemicals, such as γ-butyrolactone (GBL), tetrahydrofuran (THF), 2-pyrrolidone (2-P), and N-methyl-2-pyrrolidone (NMP). The growing chemical industry is expected to boost the growth of 1,4 butanediol segment, and it is expected to continue its dominance during the forecast period.
On the basis of end-use industry, the global bio-based succinic acid has been segmented into chemical, food & beverage, pharmaceutical, personal care, and agriculture. The chemical segment held the largest share in 2018, due to the rapid growth of the chemical industry and extensive use of bio-succinic acid in the industry for producing chemicals.
Bio-Based Succinic Acid Market Key Players:
Some of the major players operating in the global bio-based succinic acid market are;
• BioAmber Inc (US)
• DSM (The Netherlands)
• Mitsui & Co., Ltd (Japan)
• Mitsubishi Chemical Corporation (Japan)
• BASF SE (Germany)
• Roquette Frères (France)
• Corbion (Netherlands)
• Reverdia (The Netherlands)
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Bio-Based Succinic Acid Market Regional Analysis:
The global bio-based succinic acid market has been analyzed across five regions, namely Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa. North America is projected to witness remarkable growth during the forecast period, owing to the increasing use of the product in the automotive, personal care, and pharmaceutical industries. The Asia-Pacific market is expected to witness healthy growth during the review period, owing to the growth of the chemical and pharmaceutical industries.
The European market for bio-based succinic acid is expected to grow at a significant rate due to the growing use of the product in different applications, especially in the healthcare industry. The Latin American and the Middle East & African markets for bio-based succinic acid are projected to witness moderate and sluggish growth, respectively, during the review period.
Bio-Based Succinic Acid Market Table of Content:
1 Executive Summary
2 Market Introduction
3 Market Research Methodology
4 Market Dynamics of Global Bio-Based Succinic Acid Market
5 Market Factor Analysis of Global Bio-Based Succinic Acid Market
Bio-Based Succinic Acid Market Table of Content to be Continue….,
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The prime objective of Bio-based Succinic Acid report is to provide the insights on the post COVID-19 impact which will help market players in this field evaluate their business approaches.
Also, this report covers market segmentation by major market verdors, types, applications/end users and geography(North America, East Asia, Europe, South Asia, Southeast Asia, Middle East, Africa, Oceania, South America).Download FREE Sample of this Report @ https://www.24chemicalresearch.com/download-sample/105411/biobased-succinic-acid-2021-2027-63 The global Bio-based Succinic Acid market was valued at 191.87 Million USD in 2020 and will grow with a CAGR of 10.95% from 2020 to 2027, based on Our Researcher newly published report.The potential consumption of succinic acid as starting feedstock for extensive array of products, such as polymers, food, metals, pharmaceuticals, coatings, fibers, solvents, lubricating oils, diesel fuel oxygenates, and cosmetics, is the major driver, which has been successful in the development of the technology for bio-based succinic acid production.
Currently, bio-based succinic acid is gaining significance as a replacement for petroleum-based succinic acid, owing to being renewable and eco-friendly, which are key for bio-based succinic acid to increase its market share in the global succinic acid market during the forecast period.By Market Verdors:BASFDowDuPontKoninklijke DSMMitsui ChemicalsBioAmberCorbionMyriantRoquetteLixing ChemicalAnqing Hexing ChemicalBy Types:Food GradeIndustrial GradePharmaceutical GradeBy Applications:IndustrialPharmaceuticalPersonal CarePaints & CoatingsKey Indicators AnalysedMarket Players & Competitor Analysis: The report covers the key players of the industry including Company Profile, Product Specifications, Production Capacity/Sales, Revenue, Price and Gross Margin 2016-2027 & Sales with a thorough analysis of the market’s competitive landscape and detailed information on vendors and comprehensive details of factors that will challenge the growth of major market vendors.Global and Regional Market Analysis: The report includes Global & Regional market status and outlook 2016-2027.
With detailed analysis by types and applications.Market Trends: Market key trends which include Increased Competition and Continuous Innovations.Opportunities and Drivers: Identifying the Growing Demands and New TechnologyPorters Five Force Analysis: The report provides with the state of competition in industry depending on five basic forces: threat of new entrants, bargaining power of suppliers, bargaining power of buyers, threat of substitute products or services, and existing industry rivalry.Key Reasons to PurchaseTo gain insightful analyses of the market and have comprehensive understanding of the global market and its commercial landscape.Assess the production processes, major issues, and solutions to mitigate the development risk.To understand the most affecting driving and restraining forces in the market and its impact in the global market.Learn about the market strategies that are being adopted by leading respective organizations.To understand the future outlook and prospects for the market.Besides the standard structure reports, we also provide custom research according to specific requirements.Reasons to Purchase Our Research Report:1.
Market dynamics scenario, along with growth opportunities of the market in the years to come3.
Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects4.
With a large and constantly increasing manufacturer pool, the global bio-based succinic acid market is demonstrating a highly competitive business landscape.
According to a new report by Transparency Market Research (TMR), the leading players in this market, including Koninklijke DSM N.V, Myriant Corp., Roquette Frères S.A., Corbion N.V, BASF SE, and BioAmber Inc., are focusing on finding new approaches to increase their production scale.
From adopting advanced technologies with low ecological footprints to actively pursuing bio-based methods succinic acid production, manufacturers are leaving no stones unturned to remain in the competition.
The increasing popularity of bio-based succinic acid as a cost-efficient alternative of petroleum-based production methods used for the manufacturing of various derivatives is boosting the growth of this market, significantly.
Request for Discount on This Report - https://www.transparencymarketresearch.com/sample/sample.php?flag=D_id=865North America to Overtake EuropeThe report considers Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa as the main regional bio-based succinic acid markets.
The increasing concentration of key producers of bio-based succinic acid in North America, especially the U.S., will drive the North America market to dominance over the forthcoming years.
