Bio-Succinic Acid Market Volume is Expected to Reach 710 Kilo Tons with Corresponding Revenue of $1.1 billion Globally in 2020 -

   Bio-Succinic Acid Market Volume is Expected to Reach 710 Kilo Tons with
    Corresponding Revenue of $1.1 billion Globally in 2020 - Allied Market

  PR Newswire

  PORTLAND, Oregon, February 19, 2014

PORTLAND, Oregon, February 19, 2014 /PRNewswire/ --

Allied Market Research, today published a new market research report titled "
Bio-succinic  Acid Market - Size, Share, Trends, Opportunities, Global
Demand, Insights, Analysis, Research, Report, Company Profiles, Segmentation
and Forecast, 2013 - 2020." As per the study, the global bio-succinic acid
market volume is expected to grow at a CAGR of 45.6% between 2013 and 2020.
The market revenue was estimated to be $115.2 million in 2013 and is expected
to grow to $1.1 billion by 2020. Increase in demand of bio-based chemicals is
the major driver for this market. In addition, rising crude oil prices,
adoption in newer industrial applications namely, 1,4-Butanediol (BDO), PBS,
polyester polyols (polyurethane), and plasticizers will enable faster growth
of the market.

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Succinic acid is used as an intermediate chemical for a wide range of
applications such as industrial, food, cosmetics, and pharmaceuticals. Until
now, common source of succinic acid at industrial level was fossil fuel.
However, petroleum based succinic acid shows significant carbon footprint
during manufacturing process. This concern is now taken care with the
development process of bio-based succinic acid from agricultural feedstock.
"The potential for bio-succinic acid market is in the replacement of existing
succinic acid and adoption in newer industrial application areas, namely,
1,4-butanediol (BDO), PBS, polyesterpolyols (polyurethane), alkyd resins and
plasticizers. These factors together will provide faster growth thrust to the
market" states Allied Market Research analyst Sarah Clark. "Presently, price
of bio-succinic acid may hinder market growth as it costs higher than
petroleum based succinic acid. However, mass production and improvement in
production techniques will quickly address the cost viability issue of the
bio-succinic acid market" adds Ms. Clark. Moreover, lower volatility of
feedstock prices will add to its stable adoption in various application

Similar market studies by Allied Market Research

Bio-succinic acid is currently being adopted the most in non-industrial
applications such as food, pharmaceuticals and cosmetics. However, BDO is one
of the major application segments of bio-succinic acid in terms of volume as
well as revenue. This is mainly due to higher application of BDO as an
intermediate chemical in production of THF (tetrahydrofuran), PBT
(polybutylene terephtalate), and polyurethanes. Additionally, the larger
volume of bio-succinic acid consumed as compared to maleic anhydride for
production of BDO will also be the contributory to the growth of bio-succinic
acid market. On the other hand, alkyd resins application is the fastest
growing segment in terms of volume, growing at a CAGR of 93.6% during

Geographical analysis of the market revealed that Europe is and will continue
to be the leading revenue generating regional market till 2020. This is mainly
due to strict regulatory imposition on the use of certain hazardous chemicals
which pose as a threat to environment and human beings. Hence, to comply with
the requirements, manufacturers are shifting to greener substitutes
(bio-succinic acid). Asia Pacific is expected to be the fastest growing market
at a CAGR of 49.5% during the analysis period.

The report has profiled some of the key players of the market such as
BioAmber, Myraint, DSM, Mitsui & Co, Mitsubishi, BASF, Roquette Freres S.A.,
Purac and Reverdia.

Segments covered in the report:


  *Industrial Application

       *1,4-Butanediol (BDO)
       *Polyester Polyols
       *Solvents & lubricants
       *Alkyd Resins
       *Resins, coatings, pigments
       *De-icer solutions

  *Food Application
  *Pharma Application
  *Cosmetics Application


  *North America
  *Asia Pacific

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