North America Bio-Based Succinic Acid Market
The North American bio-based succinic acid market is expected to grow at a CAGR of 25% by volume and 18% by value. The demand for this crucial chemical in the region is estimated to be lower than anticipated due to the greater requirement from other regions, which would counter the market for bio-based succinic acid in North America.
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.
Market Dynamics of the North American Bio-based Succinic Acid:
- Greater requirement for sustainable processes
- Increasing environmental concerns
- Reduce reliance on fast depleting fossil fuel reserves
- Low cost
- Wide range of applications
- Higher Price of Bio-based succinic acid
- Lengthy extraction process
In earlier cases, petroleum was the exclusive source of succinic acid but current manufacturing procedures have commenced making use of renewable feedstock 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 application as 1,4-butanediol & derivatives, cosmetics, de-icer solutions, food, pharmaceuticals, plasticizers, polyurethanes, resins, coatings, pigments, dyes & inks, solvents & lubricants and others. Combining succinic acids with 1,4-butanediol leads to the opening up of innovative applications for green biopolymers, such as polybutylene succinate (PBS) in biodegradable packaging films and disposable cutlery.
The market is segmented based on geography into U.S.A and Canada. Some of the key players in the North American bio-based succinic acid market are:
- Anqing Hexing Chemicals Ltd
- Bio Amber Inc.
- DSM NV
- Myraint Corp.
Key Deliverables in the Study:
- Analysis for the North American bio-based succinic acid market, with region specific assessments and competition analysis on a 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 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 North American bio-based succinic acid market on a 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.
1.2 Research Methodology
1.3 Report Outline
2. Executive Summary
3. Market Overview
3.1 Current Market Scenario
3.2 Factors Driving the Bio-Based Succinic Acid Market
3.2.1 Applications for Succinic Acid Derivatives Increasing
3.2.2 Environmental Sustainability
3.2.3 Chinese Demand for Bio-Based Succinic Acid Fostering Growth
3.2.4 Bio-Based Succinic Acids Growing in Popularity
3.3 Restraints in the Construction Chemicals Market
3.3.1 Manufacturing Cost a Major Impediment
3.3.2 Volatility in Prices of Raw Materials
3.3.3 Early Stage Market for Renewable Chemicals
3.4 Opportunities for the Construction Chemicals Market
3.4.1 Requirement for Renewable Substitutes on the Growth Track
3.4.2 Bio-Based Succinic Acid as Replacement for Butane-Based Maleic Anhydride
3.4.3 Bio-Based Biodegradable Plastics Market Growing Rapidly
3.5 Porter’s Five Forces
3.5.1 Bargaining Power of Suppliers
3.5.2 Bargaining Power of Consumers
3.5.3 Threat of New Entrants
3.5.4 Threat of Substitute Products and Services
3.5.5 Intensity of Competitive Rivalry
3.6 Industry Value Chain Analysis
4. Market Segmentation
4.1 By Application
4.1.1 1,4-Butanediol & Derivatives
4.1.3 De-Icer Solutions
4.1.8 Resins, Coatings, Pigments, Dyes & Inks
4.1.9 Solvents & Lubricants
4.1.10 Other Applications
5. North American Market Analysis
5.1 United States
6. Competitor Analysis
6.1 Market Shares of Leading Global Players
6.2 Strategies Adopted by Leading Global Players
7. Company Profiles
7.1 Anqing Hexing Chemical Co Ltd
7.3 BioAmber Inc
7.4 DSM NV
7.5 Gadiv Petrochemical Industries Ltd
7.6 Kawasaki Kasei Chemicals Ltd
7.7 Lixing Chemical
7.8 Mitsubishi Chemical Corp
7.9 Mitsui & Co Ltd
7.10 Myriant Corp
7.11 Nippon Shokubai Co Ltd
7.12 PTT Global Public Co Ltd
7.15 Roquette Frères SA