Bio Succinic Acid Market
Bio Succinic Acid Market Forecasts to 2030 - Global Analysis By Process Type (Ammonium Sulphate Process, Direct Crystallization Process and Electrodialysis Process), Feedstock (Corn, Sugarcane, Cassava and Other Feedstocks), Application, End User and By Geography
According to Stratistics MRC, the Global Bio Succinic Acid Market is accounted for $146.38 million in 2024 and is expected to reach $322.99 million by 2030 growing at a CAGR of 14.1% during the forecast period. Bio-succinic acid is a bio-based chemical that is made by fermentation from renewable feedstocks like sugar, corn, or biomass. It provides a sustainable substitute for succinic acid derived from petroleum, with less of an impact on the environment and carbon emissions. Bio-succinic acid is used in a variety of industries, such as food, medicine, plastics, polyurethanes, resins, and personal care items.
According to the U.S. Department of Energy, bio-succinic acid can reduce greenhouse gas emissions by up to 90% compared to petroleum-based succinic acid.
Market Dynamics:
Driver:
Growing interest in sustainable substitutes
The growing emphasis on sustainability and environmental protection around the world is driving a notable expansion in the bio-succinic acid market. As industries shift to more environmentally friendly options to fight climate change, bio-succinic acid has become a competitive substitute for succinic acid made from petroleum. Both greenhouse gas emissions and reliance on non-renewable fossil fuels are decreased by its production process, which uses renewable feedstocks like corn, sugarcane, and other biomass. Additionally, bio-succinic acid is now a crucial component of sustainable manufacturing methods in many industries.
Restraint:
High costs of production
The comparatively high cost of production compared to petroleum-derived succinic acid is one of the main factors holding back the bio-succinic acid market. Although fermentation technology has greatly increased production efficiency, the cost of production is still high because of the costs of renewable feedstocks, biotechnological processes, and purification methods. Furthermore, scaling up bio-succinic acid production to meet industrial demand requires a significant capital investment in infrastructure, which can be difficult for smaller manufacturers and limit market growth.
Opportunity:
Adoption of green building materials
To reduce its environmental impact, the construction industry is using more and more green and sustainable building materials. Bio-based polyols and resins, which are crucial ingredients in construction-related coatings, adhesives, and sealants, can be made from bio-succinic acid. Moreover, stricter laws governing volatile organic compounds (VOCs) in traditional building materials, along with the growing trend of environmentally friendly infrastructure development, present a profitable opportunity for producers of bio-succinic acid to serve this growing market.
Threat:
Rivalry from alternatives based on petrochemicals
The market is still dominated by petrochemical-based succinic acid because of its better supply chains and lower production costs, even though sustainability is becoming more and more important. Several industries, especially in developing nations, place a higher priority on cost than environmental advantages, which restricts the use of bio-succinic acid. Additionally, it is challenging for producers of bio-succinic acid to establish a substantial market presence due to the heightened competition caused by the petrochemical industry's improvements in efficiency and cost reduction.
Covid-19 Impact:
The COVID-19 pandemic caused disruptions throughout the value chain, which had a major effect on the bio-succinic acid market. Due to supply chain disruptions caused by lockdowns and restrictions, production schedules were delayed, and important feedstocks like corn and sugarcane were not readily available. Because of the halting of manufacturing operations and the decline in economic activity, the demand for bio-succinic acid in end-use industries like construction, textiles, and automobiles decreased. Furthermore, the pandemic did, however, also emphasize the significance of sustainability and bio-based substitutes, opening up market recovery prospects as governments and businesses place a greater emphasis on environmentally friendly solutions in the years following the pandemic.
The Direct Crystallization Process segment is expected to be the largest during the forecast period
The Direct Crystallization Process segment is expected to have the largest market share for bio-succinic acid because of its affordability and extensive industrial use. High purity levels and low production costs are provided by this highly effective method of separating succinic acid from fermentation broths. It is the go-to option for manufacturers due to its smooth integration into large-scale production facilities and compatibility with a variety of renewable feedstocks. Moreover, the direct crystallization process further solidifies its market dominance by supporting the scalability needed to meet the increasing demand for bio-succinic acid across applications such as food additives, pharmaceuticals, and biodegradable plastics.
The Bioplastics segment is expected to have the highest CAGR during the forecast period
The bioplastics segment is expected to have the highest CAGR in the bio-succinic acid market, driven by the growing global emphasis on sustainability and reducing plastic waste. Bio-succinic acid is a vital component of biodegradable plastics, such as polybutylene succinate (PBS) and PBS-based copolymers, which are becoming more popular as environmentally friendly substitutes for traditional plastics. Growing consumer consciousness, stricter laws aimed at single-use plastics, and an increasing need for environmentally friendly packaging options are driving the market for bioplastics.
Region with largest share:
Due to its strong emphasis on sustainability, strict environmental regulations, and established bio-based chemical industries, the European region is expected to hold the largest share of the bio-succinic acid market. The region's focus on cutting carbon emissions and using environmentally friendly materials has caused bio-succinic acid to be widely used in a variety of industries, such as construction, automotive, and packaging. Furthermore, supporting market expansion in Europe are government subsidies and incentives for bio-based technologies as well as a strong infrastructure for the production of renewable feedstock.
Region with highest CAGR:
Due to rapid industrialization, rising demand for sustainable products, and increased awareness of environmental issues, the bio-succinic acid market is predicted to grow at the highest CAGR in the Asia Pacific region. Because of their sizable manufacturing sectors, growing bioplastics industries, and growing consumer demand for environmentally friendly products, nations like China, India, and Japan are becoming important players in the market. Moreover, the market's expansion in this region is further supported by government programs encouraging the use of bio-based chemicals and the creation of renewable feedstock sources.
Key players in the market
Some of the key players in Bio Succinic Acid market include DSM, Kawasaki Kasei Chemicals, Myriant Corporation, BASF SE, Roquette Freres S.A, Mitsubishi Chemical Corporation, Corbion Inc, Reverdia, BioAmber Inc and Nippon Shokubai.
Key Developments:
In September 2024, Mitsubishi Corporation and Exxon Mobil Corporation have signed a Project Framework Agreement for Mitsubishi Corporation’s participation in ExxonMobil’s facility in Baytown, Texas which is expected to produce virtually carbon-free hydrogen with approximately 98% of carbon dioxide (CO2) removed and low-carbon ammonia.
In July 2024, BASF and ENGIE signed a 7-year Biomethane Purchase Agreement (BPA). Under the BPA, ENGIE will supply BASF with 2.7 to 3.0 terawatt hours of biomethane throughout the term of the agreement. BASF uses certified biomethane at its Ludwigshafen/Germany and Antwerp/Belgium sites as a sustainable alternative to fossil raw materials in its manufacturing process.
In March 2024, Roquette has acquired the pharma solutions division at International Flavors & Fragrances, in a deal up to $2.85 billion. It will also expand the company’s position in the ‘attractive’ excipients market and enhance Roquette’s US footprint.
Process Types Covered:
• Ammonium Sulphate Process
• Direct Crystallization Process
• Electrodialysis Process
Feedstocks Covered:
• Corn
• Sugarcane
• Cassava
• Other Feedstocks
Applications Covered:
• 1,4-Butanediol (BDO)
• Polyester Polyols
• Bioplastics
• Plasticizers
• PBS/PBST
• Solvents & Lubricants
• Alkyd Resins
• Adhesives and Sealants
• Detergents
• Cosmetics
• Other Applications
End Users Covered:
• Industrial
• Food and Beverages
• Pharmaceuticals
• Personal Care
• Paints and Coatings
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Bio Succinic Acid Market, By Process Type
5.1 Introduction
5.2 Ammonium Sulphate Process
5.3 Direct Crystallization Process
5.4 Electrodialysis Process
6 Global Bio Succinic Acid Market, By Feedstock
6.1 Introduction
6.2 Corn
6.3 Sugarcane
6.4 Cassava
6.5 Other Feedstocks
7 Global Bio Succinic Acid Market, By Application
7.1 Introduction
7.2 1,4-Butanediol (BDO)
7.3 Polyester Polyols
7.4 Bioplastics
7.5 Plasticizers
7.6 PBS/PBST
7.7 Solvents & Lubricants
7.8 Alkyd Resins
7.9 Adhesives and Sealants
7.10 Detergents
7.11 Cosmetics
7.12 Other Applications
8 Global Bio Succinic Acid Market, By End User
8.1 Introduction
8.2 Industrial
8.3 Food and Beverages
8.4 Pharmaceuticals
8.5 Personal Care
8.6 Paints and Coatings
8.7 Other End Users
9 Global Bio Succinic Acid Market, By Geography
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.3 Europe
9.3.1 Germany
9.3.2 UK
9.3.3 Italy
9.3.4 France
9.3.5 Spain
9.3.6 Rest of Europe
9.4 Asia Pacific
9.4.1 Japan
9.4.2 China
9.4.3 India
9.4.4 Australia
9.4.5 New Zealand
9.4.6 South Korea
9.4.7 Rest of Asia Pacific
9.5 South America
9.5.1 Argentina
9.5.2 Brazil
9.5.3 Chile
9.5.4 Rest of South America
9.6 Middle East & Africa
9.6.1 Saudi Arabia
9.6.2 UAE
9.6.3 Qatar
9.6.4 South Africa
9.6.5 Rest of Middle East & Africa
10 Key Developments
10.1 Agreements, Partnerships, Collaborations and Joint Ventures
10.2 Acquisitions & Mergers
10.3 New Product Launch
10.4 Expansions
10.5 Other Key Strategies
11 Company Profiling
11.1 DSM
11.2 Kawasaki Kasei Chemicals
11.3 Myriant Corporation
11.4 BASF SE
11.5 Roquette Freres S.A
11.6 Mitsubishi Chemical Corporation
11.7 Corbion Inc
11.8 Reverdia
11.9 BioAmber Inc
11.10 Nippon Shokubai
List of Tables
1 Global Bio Succinic Acid Market Outlook, By Region (2022-2030) ($MN)
2 Global Bio Succinic Acid Market Outlook, By Process Type (2022-2030) ($MN)
3 Global Bio Succinic Acid Market Outlook, By Ammonium Sulphate Process (2022-2030) ($MN)
4 Global Bio Succinic Acid Market Outlook, By Direct Crystallization Process (2022-2030) ($MN)
5 Global Bio Succinic Acid Market Outlook, By Electrodialysis Process (2022-2030) ($MN)
6 Global Bio Succinic Acid Market Outlook, By Feedstock (2022-2030) ($MN)
7 Global Bio Succinic Acid Market Outlook, By Corn (2022-2030) ($MN)
8 Global Bio Succinic Acid Market Outlook, By Sugarcane (2022-2030) ($MN)
9 Global Bio Succinic Acid Market Outlook, By Cassava (2022-2030) ($MN)
10 Global Bio Succinic Acid Market Outlook, By Other Feedstocks (2022-2030) ($MN)
11 Global Bio Succinic Acid Market Outlook, By Application (2022-2030) ($MN)
12 Global Bio Succinic Acid Market Outlook, By 1,4-Butanediol (BDO) (2022-2030) ($MN)
13 Global Bio Succinic Acid Market Outlook, By Polyester Polyols (2022-2030) ($MN)
14 Global Bio Succinic Acid Market Outlook, By Bioplastics (2022-2030) ($MN)
15 Global Bio Succinic Acid Market Outlook, By Plasticizers (2022-2030) ($MN)
16 Global Bio Succinic Acid Market Outlook, By PBS/PBST (2022-2030) ($MN)
17 Global Bio Succinic Acid Market Outlook, By Solvents & Lubricants (2022-2030) ($MN)
18 Global Bio Succinic Acid Market Outlook, By Alkyd Resins (2022-2030) ($MN)
19 Global Bio Succinic Acid Market Outlook, By Adhesives and Sealants (2022-2030) ($MN)
20 Global Bio Succinic Acid Market Outlook, By Detergents (2022-2030) ($MN)
21 Global Bio Succinic Acid Market Outlook, By Cosmetics (2022-2030) ($MN)
22 Global Bio Succinic Acid Market Outlook, By Other Applications (2022-2030) ($MN)
23 Global Bio Succinic Acid Market Outlook, By End User (2022-2030) ($MN)
24 Global Bio Succinic Acid Market Outlook, By Industrial (2022-2030) ($MN)
25 Global Bio Succinic Acid Market Outlook, By Food and Beverages (2022-2030) ($MN)
26 Global Bio Succinic Acid Market Outlook, By Pharmaceuticals (2022-2030) ($MN)
27 Global Bio Succinic Acid Market Outlook, By Personal Care (2022-2030) ($MN)
28 Global Bio Succinic Acid Market Outlook, By Paints and Coatings (2022-2030) ($MN)
29 Global Bio Succinic Acid Market Outlook, By Other End Users (2022-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
Frequently Asked Questions
In case of any queries regarding this report, you can contact the customer service by filing the “Inquiry Before Buy” form available on the right hand side. You may also contact us through email: info@strategymrc.com or phone: +1-301-202-5929
Yes, the samples are available for all the published reports. You can request them by filling the “Request Sample” option available in this page.
Yes, you can request a sample with your specific requirements. All the customized samples will be provided as per the requirement with the real data masked.
All our reports are available in Digital PDF format. In case if you require them in any other formats, such as PPT, Excel etc you can submit a request through “Inquiry Before Buy” form available on the right hand side. You may also contact us through email: info@strategymrc.com or phone: +1-301-202-5929
We offer a free 15% customization with every purchase. This requirement can be fulfilled for both pre and post sale. You may send your customization requirements through email at info@strategymrc.com or call us on +1-301-202-5929.
We have 3 different licensing options available in electronic format.
- Single User Licence: Allows one person, typically the buyer, to have access to the ordered product. The ordered product cannot be distributed to anyone else.
- 2-5 User Licence: Allows the ordered product to be shared among a maximum of 5 people within your organisation.
- Corporate License: Allows the product to be shared among all employees of your organisation regardless of their geographical location.
All our reports are typically be emailed to you as an attachment.
To order any available report you need to register on our website. The payment can be made either through CCAvenue or PayPal payments gateways which accept all international cards.
We extend our support to 6 months post sale. A post sale customization is also provided to cover your unmet needs in the report.
Request Customization
We provide a free 15% customization on every purchase. This requirement can be fulfilled for both pre and post sale. You may send your customization requirements through email at info@strategymrc.com or call us on +1-301-202-5929.
Note: This customization is absolutely free until it falls under the 15% bracket. If your requirement exceeds this a feasibility check will be performed. Post that, a quote will be provided along with the timelines.
WHY CHOOSE US ?
Assured Quality
Best in class reports with high standard of research integrity
24X7 Research Support
Continuous support to ensure the best customer experience.
Free Customization
Adding more values to your product of interest.
Safe & Secure Access
Providing a secured environment for all online transactions.
Trusted by 600+ Brands
Serving the most reputed brands across the world.
