Global Bio-Based Succinic Acid Market - Segmented by Application and Geography - Growth, Trends and Forecasts (2018 - 2023)

  • ID: 4520069
  • Report
  • Region: Global
  • 130 pages
  • Mordor Intelligence
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  • BASF Corporation
  • Corbion
  • Kawasaki Kasei Chemicals
  • Lixing Chemical
  • Myriant Corporation.
  • Reverdia
  • MORE
The market for bio-based succinic acid is expected to register significant growth during the forecast period, 2018 to 2023.This tremendous growth is significantly driven by increase in the number of emerging applications, like (non-phthalate) plasticizers, resins, and polyester polyols for polyurethanes.

Increasing Applications for Succinic Acid Derivatives

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.

1,4-Butanediol (BDO) & Derivatives Application Segment to Dominate the Market

Among the major applications, 1,4-butanediol (BDO) & derivatives is the largest market for bio-based succinic acid, with more than 45% share of the global market. BDO is an industrial chemical, which can be used 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). Additionally, BDO can be combined with succinic acid to make biodegradable plastics, polybutylene succinate (PBS) and poly (butylene succinate-co-butylene terephthalate), which found many potential applications. In order to leverage the prominent applications, top manufacturers, like BioAmber and Mitsui & Co., are jointly planning to build additional bio-based succinic acid and BDO plants, which is expected to have a deeper impact on the global bio-based succinic acid market.

Asia-Pacific to Ignite the Market Growth

Though North America is the largest regional market for global bio-based succinic acid, Asia-Pacific represents the fastest-growing regional market. The increasing demand from pharmaceutical, automotive and personal care industries of countries, like China, India, Thailand, and Korea, are providing great opportunity for the bio-based succinic acid market to continue its fast pace of growth. Moreover, since, the product is an intermediate and is bio-degradable in nature, it has been widely accepted by the industries for various purposes, such as food packaging, paints, and polymer resins, amongst others. The large market, with huge growth in Asia-Pacific, is instrumental in the expansion of the global bio-based succinic acid market.

Key Developments in the Market

August 2017: BioAmber bought the bio-based acid plant, which is located in Sarnia in Canada, as part of a joint venture with Mitsui.

June 2017: Bioamber Inc. launched a BIO-SA pharmaceutical grade for its bio-succinic acid.

Major Players: BioAmber Inc., Myriant Corporation, Reverdia, Succinity GmbH, and Anqing Hexing Chemical Co. Ltd, amongst others.

Reasons to Purchase the Report

Identify the current developments and future of the global bio-based succinic acid market in the developed and emerging markets

Analyze various perspectives of the market with the help of Porter’s five forces analysis

Information of the segment that is expected to dominate the market

Identify the region that is expected to witness the fastest growth during the forecast period

Identify the latest developments, market shares, and strategies employed by the major market players

3-month analyst support, along with the Market Estimate sheet (in excel)

Customization of the Report

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Note: Product cover images may vary from those shown
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  • BASF Corporation
  • Corbion
  • Kawasaki Kasei Chemicals
  • Lixing Chemical
  • Myriant Corporation.
  • Reverdia
  • MORE
1. Introduction
1.1 Research Phases
1.2 Study Deliverables
1.3 Scope of the Report

2. Executive Summary

3. Market Insights
3.1 Industry Value-Chain Analysis
3.2 Industry Attractiveness - Porter’s Five Forces Analysis
3.2.1 Bargaining Power of Suppliers
3.2.2 Bargaining Power of Consumers
3.2.3 Threat of New Entrants
3.2.4 Threat of Substitute Products and Services
3.2.5 Degree of Competition
3.3 Technological Snapshot

4. Market Dynamics
4.1 Drivers
4.1.1 Increasing Applications for Succinic Acid Derivatives
4.1.2 Rapidly Growing Demand for Bio-based Succinic Acid in China
4.1.3 Rising Demand for Bio-based Chemicals
4.2 Restraints
4.2.1 High Manufacturing Costs and Premium Pricing of Bio-based Succinic Acid
4.2.2 Volatility in Prices of Raw Materials
4.2.3 Early Stage Market for Renewable Chemicals
4.3 Opportunities
4.3.1 Replacing Butane-based Maleic Anhydride, and Phthalic Anhydride
4.3.2 Growing Expansion and Investment Projects
4.3.3 Shifting Focus Toward Bio-based Biodegradable Plastics

5. Market Segmentation and Analysis (Market Size, Growth and Forecast)
5.1 By Application
5.1.1 Industrial 1,4-Butanediol (BDO)& Derivatives Plasticizers Polyurethanes Resins, Coatings, Pigments, Dyes & Inks Solvents & Lubricants De-Icer Solutions Others
5.1.2 Pharmaceutical
5.1.3 Personal Care
5.1.4 Paints & Coatings
5.1.5 Others

6. Regional Analysis (Market Size, Growth and Forecast)
6.1 North America
6.1.1 United States
6.1.2 Canada
6.1.3 Rest of North America
6.2 Europe
6.2.1 Germany
6.2.2 France
6.2.3 United Kingdom
6.2.4 Rest of Europe
6.3 Asia-Pacific
6.3.1 China
6.3.2 India
6.3.3 Japan
6.3.4 South Korea
6.3.5 Rest of Asia-Pacific
6.4 South America
6.4.1 Brazil
6.4.2 Argentina
6.4.3 Rest of South America
6.5 Middle East & Africa
6.5.1 Saudi Arabia
6.5.2 South Africa
6.5.3 Rest of Middle East & Africa

7. Production and Capacity Analysis (Country wise - Active and Planned)
7.1 France
7.2 Germany
7.3 Italy
7.4 China
7.5 Spain
7.6 Thailand
7.7 United States
7.8 Canada

8. Future of the Market

9. Competitive Landscape
9.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
9.2 Market Share Analysis**
9.3 Strategies Adopted by Leading Players

10. Company Profiles (Overview, Financials**, Products & Services and Recent Developments)
10.1 Anqing Hexing Chemical Co. Ltd
10.2 BASF Corporation
10.3 BioAmber Inc.
10.4 Corbion
10.5 DowDuPont
10.6 Kawasaki Kasei Chemicals
10.7 Koninklijke DSM NV
10.8 Lixing Chemical
10.9 Mitsui Chemicals, Inc.
10.10 Myriant Corporation.
10.11 Nippon Shokubai Co. Ltd
10.12 PTT Global Chemical Public Company Limited
10.13 Reverdia
10.14 Roquette
10.15 Succinity GmbH
*list not exhaustive

11. Disclaimer
** Subject to availability on public domain
Note: Product cover images may vary from those shown
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  • Anqing Hexing Chemical Co. Ltd.
  • BASF Corporation
  • BioAmber Inc
  • Corbion
  • DowDuPont
  • Kawasaki Kasei Chemicals
  • Koninklijke DSM N.V.
  • Lixing Chemical
  • Mitsui Chemicals Inc
  • Myriant Corporation.
  • Nippon Shokubai Co. LTD.
  • PTT Global Chemical Public Company Limited
  • Reverdia
  • Roquette
  • Succinity GmbH.
Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown