Global Bio-Based Succinic Acid Market Segmentation, By End-Use Industry (Industrial, Food & Beverage, Paints & Coatings, Pharmaceutical, Cosmetics and Others) - Industry Trends and Forecast to 2031.
Global Bio-Based Succinic Acid Market Size
Global bio-based succinic acid market size was valued at USD 591.6 million in 2023 and is projected to reach USD 1001.38 million by 2031, with a CAGR of 6.8% during the forecast period of 2024 to 2031.
Report Scope and Market Segmentation
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Attributes
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Bio-Based Succinic Acid Key Market Insights
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Segmentation
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By End-Use Industry: Industrial, Food & Beverage, Paints & Coatings, Pharmaceutical, Cosmetics and Others
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Countries Covered
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U.S., Canada, Mexico, Germany, Poland, Ireland, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Chile, Rest of South America, UAE, Saudi Arabia, Egypt, Kuwait, South Africa, Rest of Middle East and Africa
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Key Market Players
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BioAmber, Myraint, DSM, Mitsui & Co, Mitsubishi, BASF SE, Roquette Frerse S.A, Purac, Reverdia, GC Innovation America, Succinity GmbH, Nippon Shokubai, Shandong Lixing Chemical, Kawasaki Kasei Chemicals, Anqing Hexing Chemical, and Anhui Sunsing
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Bio-Based Succinic Acid Market Definition
Bio-succinic acid is mainly used in some applications such as solvents and lubricants, de-icer solutions, cosmetics, food and pharmaceuticals instead of petrol-based succinic acid. In addition, the growing global demand for green chemicals, especially in bioplastics, is becoming a widespread platform for chemicals that is widely used in applications in the market.
Bio-Based Succinic Acid Market Dynamics
The bio-based succinic acid market has the interest in fossil fuel price volatility, the increase in carbon footprint and the use of locally available raw materials drives the bio-based succinic acid market growth in the above mentioned forecast period. On the other hand, higher price of bio-based succinic acid and lengthy extraction processes are primarily restraining the bio-based succinic acid market growth in the forecast period of 2024-2031.
The side effects of regular consumption of succinic acid, such as nausea, vomiting and diarrhoea, are the challenges faced during the bio-based succinic acid market growth over the forecast period. Growing research and development activities for cost-effective solutions that are expected to create an attractive opportunity for bio-based succinic acid market growth over the forecast period.
This bio-based succinic acid market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on bio-based succinic acid market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Bio-Based Succinic Acid Market Scope
Bio-based succinic acid market is segmented on the basis of end-use industry. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
End-use Industry
- Industrial
- 1,4-butanediol (BDO)
- Polyester Polyols
- PBS
- Plasticizers
- Solvents & Lubricants
- Alkyd Resins
- Resins
- Coatings
- Pigments
- De-Icer Solutions
- Food & Beverage
- Paints & Coatings
- Pharmaceutical
- Cosmetics
- Others
Bio-Based Succinic Acid Market Regional Analysis
Bio-based succinic acid market is analyzed and market size, volume information is provided by country, end-use industry as referenced above.
The countries covered in the bio-based succinic acid market report are the U.S., Canada, Mexico in North America, Germany, Poland, Ireland, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Chile, Rest of South America as a part of South America, UAE, Saudi Arabia, Egypt, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
Europe is the largest consumer in bio-based succinic acid market in the forecast period of 2024-2031. Stringent carbon footprint regulations in Europe have allowed substantial applications of bio-based succinic acid in different units of chemical production. Asia-Pacific will nevertheless be the fastest growing market for bio-based succinic acid market.
The country section of the bio-based succinic acid market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries.
Bio-Based Succinic Acid Market Share
Bio-based succinic acid market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to bio-based succinic acid market.
Bio-Based Succinic Acid Market Leaders Operating in the Market Are:
- BioAmber
- Myraint
- DSM
- Mitsui & Co
- Mitsubishi
- BASF SE
- Roquette Frerse S.A
- Purac
- Reverdia
- GC Innovation America
- Succinity GmbH
- Nippon Shokubai
- Shandong Lixing Chemical
- Kawasaki Kasei Chemicals
- Anqing Hexing Chemical
- Anhui Sunsing
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