europe-bio-based-succinic-acid-market-industry
Published

September 2016

Europe Bio-Based Succinic Acid Market Segmented by Application and Geography (2015 - 2020)

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Given the fact that Europe has adopted the use of bio-based succinic acid in a wide range of chemical manufacturing processes, the demand for this compound in the region is estimated to have the fastest growth during the 2015-2020 forecast periods.

Succinic acid is an important intermediate chemical that finds application in the production of a variety of specialty and commodity chemicals which are further utilized for an extensive array of applications, such as polymers, food, metals, pharmaceuticals, coatings, fibers, solvents, lubricating oils, diesel fuel oxygenates and cosmetics among others.

Earlier succinic acid was exclusively derived from petroleum but with the advancement of the current manufacturing procedures, renewable feedstock has been utilized for deriving this vital platform chemical. This biological method of obtaining succinic acid is renewable, cost effective and eco-friendly and has a greater demand in the market.

The market is segmented based on geography as Germany, France, Italy, U.K., and Spain. The entire continent of Europe has stringent regulations on the use of non-renewable sources and thus, strongly encourages the use of renewable sources that are environment-friendly which increases the demand for bio-based succinic acid further. Germany remains the largest, as well as the fastest growing market for bio-based succinic acid in Europe, followed by France and the United Kingdom.

Market Dynamics of the Bio-based Succinic Acid Market:

Drivers:

  • Greater requirement for sustainable processes
  • Growing concerns over the environment conservation and also
  • Slashing down of reliability on depleting fossil fuel reserves 
  • Stringent rules levied in the European nations to protect fossil fuels 
  • Low cost
  • Wide range of applications

Restraints:

  • Higher price of bio-based succinic acid
  • Lengthy extraction process

Fusing succinic acid with 1,4-butanediol results in opening up of innovative applications for green biopolymers such as polybutylene succinate (PBS) in biodegradable packaging films and disposable cutlery. The market is also segmented based on applications as 1,4-butanediol & derivatives, cosmetics, de-icer solutions, food, pharmaceuticals, plasticizers, polyurethanes, resins, coatings, pigments, dyes & inks, solvents & lubricants and others.

Some of the key players in the market are:

  • Anqing Hexing Chemicals Ltd,
  • BASF,
  • Bio Amber Inc.,
  • DSM NV,
  • Myraint Corp.

Key Deliverables in the Study:

  • Analysis for the European bio-based succinic acid market, with region specific assessments and competition analysis on a European and regional scale.
  • Market definition along with the identification of key drivers and restraints.
  • Identification of factors instrumental in changing the market scenario, rising prospective opportunities, and identification of key companies that can influence this market on a European and regional scale.
  • Extensively researched competitive landscape section with profiles of major companies along with their market share.
  • Identification and analysis of the macro and micro factors that affect the European bio-based succinic acid market on both European and regional scale.
  • A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
  • A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market.
  • Insights on the major countries/regions where this industry is blooming and to also identify the regions that are still untapped.
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