The Europe bio-based succinic acid market was valued at USD XX million in 2016, and is likely to reachUSD XX million by 2021, growing at a CAGR of XX%, during the forecast period, 2016-2021. Bio-basedsuccinic acid is manufactured by the fermentation of sugars, with an aim to replace traditional petroleumbasedsuccinic acid. Bio-based succinic acids are of similar structural formulations as that ofconventional petroleum-based succinic acids. They aid in reducing carbon emissions, and enhancing &optimizing the performance.
The market is driven by a number of factors, such as the rising demand for bio-based chemicals, andincreasing applications of succinic acid derivatives. However, this market faces certain drawbacks, suchas premium pricing of bio-based succinic acid, lengthy extraction process of bio-based succinic acid alongwith low crude oil prices. The aforementioned factors act as a roadblock to the growth of the market.
The Europe bio-based succinic acid market, on the basis of application, can be broadly segmented intoindustrial, pharmaceutical, personal care products, paints & coatings, and others. The industrialapplications have been further segmented into plasticizers, polyurethanes, 1,4-butanediol & derivatives,resins, coatings, pigments, dyes, & inks, solvents & lubricants, de-icer solutions and others. Additionally,the market, on the basis of geography, the market is segmented into Germany, United Kingdom, France,Italy, Spain, Russia and Nordic Countries.
Furthermore, bio-based succinic replacing maleic anhydride and phthalic anhydride, and shifting focustowards bio-based biodegradable plastics will offer numerous opportunities in the growth of the Europebio-based succinic acid market. Some of the major companies dominating this market for its products,services, and continuous product developments are
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