Bio Succinic Acid Market Current Scenario with Future Trends Analysis to 2031

Bio Succinic Acid Market Report

The bio-based succinic acid industry has seen considerable growth due to increasing demand for sustainable and eco-friendly chemicals.

WILMINGTON, DELAWARE, UNITED STATES, November 21, 2023 /EINPresswire.com/ -- The bio-based succinic acid industry has seen considerable growth due to increasing demand for sustainable and eco-friendly chemicals. Succinic acid, a dicarboxylic acid, is traditionally derived from petroleum-based sources but has gained attention for its bio-based production, primarily from renewable feedstocks like sugars, starches, and agricultural residues.

According to the report, the global Bio Succinic Acid industry generated $126.80 million in 2020, and is anticipated to generate $235.02 million by 2030, witnessing a CAGR of 6.41% from 2021 to 2030.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐨𝐟 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰: https://www.alliedmarketresearch.com/request-sample/178

𝐌𝐚𝐫𝐤𝐞𝐭 𝐓𝐫𝐞𝐧𝐝𝐬:

- Sustainable Demand: Growing environmental concerns and regulations favoring sustainable alternatives have fueled the demand for bio-based succinic acid.

- Shift Towards Renewable Resources: Manufacturers are increasingly shifting from fossil fuel-based succinic acid to bio-based sources due to their renewable nature and reduced carbon footprint.

The industrial segment held the highest market share in 2020, accounting for more than two-fifths of the global bio succinic acid market, and is estimated to maintain its leadership status throughout the forecast period. This is owing to the rise in demand in the production process of polyurethane, tetrahydrofuran, Polybutylene, and many other products. Moreover, the cosmetics segment is projected to manifest the highest CAGR of 7.5% from 2021 to 2030, due to surge in usage of bio succinic acid for preparing cosmetics with rise in demand for organic products.

𝐏𝐫𝐨𝐝𝐮𝐜𝐭𝐢𝐨𝐧 𝐏𝐫𝐨𝐜𝐞𝐬𝐬:

- Bio-based Production: Common methods involve fermentation processes using bacteria such as Escherichia coli and Mannheimia succiniciproducens. These microbes convert biomass-derived sugars into succinic acid.

- Purity and Efficiency: Continuous efforts focus on improving fermentation efficiency, yield, and purification techniques to ensure high-purity succinic acid suitable for various applications.

𝐀𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬:

- Polymer Industry: A major application is in the production of biodegradable polymers like PBS (polybutylene succinate) and PBSA (polybutylene succinate-co-adipate), used in packaging, textiles, and automotive industries.

- Chemical Intermediates: Succinic acid serves as a key building block for various chemicals like 1,4-butanediol (BDO), which finds use in polyesters, polyurethanes, and plastics.

Volatility in fossil fuel prices, rise in carbon footprints, and increase in usage of locally available raw materials drive the growth of the global bio succinic acid market. However, high price of bio succinic acid and lengthy extraction processes hinder the market growth. On the other hand, increase in its adoption in wide range of applications, especially, in bio-plastics, which presents new opportunities in the coming years.

𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬:

- BioAmber (now LCY Biosciences), Reverdia (a JV between DSM and Roquette), Myriant (now GC Innovation America): These companies were among the early pioneers in bio-based succinic acid production.

- Emerging Companies: Several startups and companies are entering the market, exploring innovative production methods and sustainable sourcing of raw materials.

𝐂𝐡𝐚𝐥𝐥𝐞𝐧𝐠𝐞𝐬:

- Cost Competitiveness: Achieving cost parity with petroleum-based succinic acid remains a challenge due to production scale, process efficiency, and raw material costs.

- Technological Hurdles: Optimization of fermentation processes, strain improvement, and scaling up operations without compromising quality are ongoing challenges.

Asia-Pacific held the highest market share in terms of revenue 2020, accounting for nearly two-fifths of the global bio succinic acid market. Moreover, the same region is expected to witness the fastest CAGR of 6.8% during the forecast period, owing to its eco-friendly nature and increase in prevalence of allergic or adverse reactions to synthetic dyes. The research also analyzes regions including North America, Europe, and LAMEA.

𝐅𝐮𝐭𝐮𝐫𝐞 𝐎𝐮𝐭𝐥𝐨𝐨𝐤:

The bio-based succinic acid industry is poised for further growth due to increased consumer awareness, supportive regulations, and technological advancements. Continuous R&D efforts aimed at improving production efficiency, lowering costs, and expanding applications will be key drivers for its widespread adoption.

The industry's success hinges on achieving economic viability while maintaining sustainability, and it plays a pivotal role in the shift towards a more sustainable and eco-friendly chemical industry.

𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬: -

- BASF SE

- Bio Amber

- DSM

- Kawasaki Kasei chemicals

- Mitsubishi Chemical Holdings

- Mitsui Chemicals

- Myriant

- Purac

- Reverdia

- Roquette Freres S.A.

𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐢𝐧 𝐏𝐫𝐨𝐜𝐮𝐫𝐢𝐧𝐠 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐕𝐢𝐬𝐢𝐭 𝐇𝐞𝐫𝐞: https://www.alliedmarketresearch.com/bio-succinic-acid-market/purchase-options

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬

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