Bio-Based Succinic Acid Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Bio-Based Succinic Acid Market is segmented by Application (Industrial, Pharmaceutical, Personal Care, Paints and Coatings, and Other Applications), and Geography (Asia-Pacific, North America, Europe, and Rest of the World)

Bio-Based Succinic Acid Market Snapshot

 Bio-Based Succinic Acid Market Overview
Study Period: 2016 - 2026
Base Year: 2021
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: <2 %
 Bio-Based Succinic Acid Market Companies

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Market Overview

The market for bio-based succinic acid is expected to grow at a CAGR of less than 2% during the forecast period. However, recent close down in major production capacities across the world due to low consumer base is affecting the market very drastically. On a brighter note, the decision of the OPEC and other countries to limit the supply of crude oil till 2022 is likely to be a great opportunity for the bio-based succinic acid.

Scope of the report

The bio-based succinic acid market report includes:

Application
Industrial
Pharmaceutical
Personal Care
Paints and Coatings
Other Applications
Geography
Asia-Pacific
China
India
Japan
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Rest of Europe
Rest of The World

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Key Market Trends

Industrial Segment Dominated the Market

  • Bio-based succinic acid is used as an intermediate in a wide range of industrial applications in order to make plastics, polyurethanes, solvents, coating, lubricants and a variety of other things.
  • The traditional process for extracting succinic acid is costlier and is harmful to nature since it is extracted from the petroleum-derived feedstock.
  • The key industrial product of succinic acid is BDO. BDO and its derivatives made from bio-based succinic acid are the most used products in the industries. It is used as an intermediate in engineering plastics, polyurethane systems, etc.
  • The plasticizers made from bio-based succinic acid are used in flooring and general-purpose usage to provide heat resistance, food packaging, etc. Moreover, this eco-friendly succinic acid is also widely used in making resins, coatings, and ink that is used for a number of industrial purposes.
  • Such factors had a positive impact on the market studied.
 Bio-Based Succinic Acid Market Growth

Asia-Pacific to Witness fastest Growth Rate

North America dominated the global bio-based succinic acid market, however, Asia-Pacific is expected to expand at the fastest growth rate. Moreover, the stringent environmental regulations in the region also help the product market and since the development of any economy largely depends on the industries, it provides a huge growth prospect for bio-based succinic acid. It is known to be a key compound, which helps in making more than 30 products used in industrial and commercial purposes. Countries like China, India, Thailand, and Korea, where the industries are growing at a very fast pace, provides an opportunity for the bio-based succinic acid market.

 Bio-Based Succinic Acid Market Forecast

Competitive Landscape

The market studied is highly consolidated among the limited players. The recent shutdowns of various producers has further intensified the competition.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

    2. 4.2 Restraints

    3. 4.3 Industry Value-Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 Application

      1. 5.1.1 Industrial

      2. 5.1.2 Pharmaceutical

      3. 5.1.3 Personal Care

      4. 5.1.4 Paints and Coatings

      5. 5.1.5 Other Applications

    2. 5.2 Geography

      1. 5.2.1 Asia-Pacific

        1. 5.2.1.1 China

        2. 5.2.1.2 India

        3. 5.2.1.3 Japan

        4. 5.2.1.4 Rest of Asia-Pacific

      2. 5.2.2 North America

        1. 5.2.2.1 United States

        2. 5.2.2.2 Canada

        3. 5.2.2.3 Mexico

      3. 5.2.3 Europe

        1. 5.2.3.1 Germany

        2. 5.2.3.2 United Kingdom

        3. 5.2.3.3 France

        4. 5.2.3.4 Italy

        5. 5.2.3.5 Rest of Europe

      4. 5.2.4 Rest of The World

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share/Ranking Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 BASF SE

      2. 6.4.2 Roquette Freres

      3. 6.4.3 KAWASAKI KASEI CHEMICALS

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

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Frequently Asked Questions

The Bio-Based Succinic Acid Market market is studied from 2016 - 2026.

The Bio-Based Succinic Acid Market is growing at a CAGR of <2% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2021.

BASF SE, Roquette Frères, KAWASAKI KASEI CHEMICALS are the major companies operating in Bio-Based Succinic Acid Market.

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