Who Are The Key Players In The Bio-Succinic Acid Market By 2030?

 Bio-succinic Acid Industry Overview

The global bio-succinic acid market size was valued at USD 110.4 million in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 10.6% from 2022 to 2030. The demand for bio-succinic acid is anticipated to be driven by increased demand for bio-based products as they are harmless to humans and the environment. The market for bio-succinic acid is highly competitive due to the presence of a number of multinationals that are engaged in various production, research, and development activities constantly. The market has a variety of products that are in demand and their demand is expected to grow exponentially. Various competitive strategies are likely to increase the competitive rivalry in the future as well.

 

Succinic acid is a natural acid type, which is used in food, skincare, and pharma products. The usage of this product is not limited only to products, but also to the human body as it is used in various chemical processes. The acid is helpful to reduce joint pain and arthritis pain by applying it to the skin. It reduces the signs of aging and is very helpful in reducing any scars on the skin.

 

Gather more insights about the market drivers, restrains and growth of the Global Bio-succinic Acid market

 

The increasing concerns over the usage of chemicals that are harmful to the human body as well as the environment in various industries have led to finding substitutes for the same. The production of succinic acid involves the application of many other chemicals. As a result, it has a negative effect on the surroundings and the environment at large. This led to the rise in demand for substitutes for the acid. One such substitute is bio-succinic acid.

 

The production of bio-succinic acid helps in reducing climate change. The acid which replaces the use of petrochemicals ensures a clean environment through the usage of waste streams. Bio-succinic acid is looked upon as a perfect substitute for many chemicals that may damage the environment.

 

Browse through Grand View Research's Renewable Chemicals Industry Research Reports.

  • Skincare Devices Market - The global skincare devices market size was valued at USD 12.5 billion in 2021 and is anticipated to witness a compound annual growth rate (CAGR) of 11.9% from 2022 to 2030. The increasing prevalence of skin cancer and other skin diseases is contributing largely to the high demand for skincare devices.

 

  • Natural Food Colors Market - The global natural food colors market size was estimated at USD 1.32 billion in 2015 and is likely to witness rapid growth over the forecast period owing to high demand in confectionery and bakery goods. In addition, stringent regulations pertaining to the use of synthetic and identical colors are likely to emerge as the major driver for industry growth.

 

 

Bio-Succinic Acid Market Segmentation

Grand View Research has segmented the global bio-succinic acid market based on Application Type, End-use, and region:

 

  • Application Outlook (Volume, Tons; Revenue, USD Thousand, 2018 - 2030)
    • BDO
    • Polyester Polyols
    • Plasticizers
    • PBS/PBST
    • Alkyd Resins
    • Others

 

  • End-use Outlook (Volume, Tons; Revenue, USD Thousand, 2018 - 2030)
    • Industrial
    • Food and Beverages
    • Pharmaceuticals
    • Personal Care and Cosmetics
    • Others

 

  • Regional Outlook (Volume, Tons; Revenue, USD Thousand, 2018 - 2030)
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa (MEA)

 

Market Share Insights

  • November 2016: Reverdia entered into a strategic partnership with Hangzhou Xinfu Science & Technology (China) to adopt Biosuccinium in bio-based polymers and co-polymers for the packaging industry and for long-term supply agreement.
  • October 2016: Reverdia signed an agreement with Dezhou Xinhuarun Technology (China) to develop and promote Biosuccinium-based microcellular polyurethane foams. The foams will be used in soles for footwear and other applications.

 

Key Companies profiled:

Some prominent players in the global bio-succinic acid market include

  • BASF SE
  • DSM
  • Roquette Freres
  • BioAmber
  • Myriant Corporation
  • Kawasaki Kasei Chemicals
  • Mitsui & Co., Ltd.
  • Mitsubishi Chemical Corporation

 

Order a free sample PDF of the Bio-succinic Acid Market Intelligence Study, published by Grand View Research.

 

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

 

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