We have produced a new premium report Bio-Succinic Acid Market. The report covers the analysis of global as well as regional markets of Bio-Succinic Acid. The objective of the study is to identify market sizes of different segments & countries in recent years and to forecast the values for the next six years. The report also deep dives into the sub-segments of Bio-Succinic Acid Market by resins types (acrylics, polyesters, alkyds, epoxies, polyurethanes), distribution channels (company-owned stores, independent distributors, large retailers, wholesalers), applications (interior, exterior),end-users (residential, commercial) through main geographies in the Global Bio-Succinic Acid Market such as North America, Europe, Asia-Pacific and RoW.
The report covers market changing aspects including drivers, restraints, opportunities, and trends expected to encourage the expansion of the Bio-Succinic Acid Market during the said period. The report also provides market attractiveness analysis, by geography, and market share analysis, by key players respectively. Some of the prominent participants in the Global Bio-Succinic Acid Market are Axalta, Berger Paints, Benjamin Moore, PPG Industries, Nippon Paint, Dulux Australia, Sherwin-Williams, BASF SE and Valspar. According to report the global bio-succinic acid market is projected to grow at a CAGR of 19.71% over the forecast period of 2018 – 2024.
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Increase in demand of bio-based chemicals to drive the growth of the bio-succinic acid market
Bio-Succinic acid, also known as amber acid and is produced naturally as a product of cellular metabolism, and it is being produced from cassava, sugarcane, corn, and even can be produced from waste material such as agriculture waste, beetroot pulp, and other waste. Succinic acid has a wide range of uses in an intermediate chemical application such as industrial, pharmaceuticals, food and cosmetics. Until now it was commonly used as fossil fuel at the industrial level.
Petroleum-based succinic acid shows noteworthy carbon impression during the manufacturing process. Rising consciousness about the benefits of using bio-based chemicals in the packaging and food industry, growing demand for green chemicals globally has generated adoption of bio-based succinic acid in various applications such as bioplastics production, and growing use of bio-succinic for reduction in carbon footprints with favourable government regulations and rising awareness towards the harmful impact of usage of petroleum-based chemicals are the factors driving the growth of bio-succinic market.
North America to dominate the global bio-succinic acid market through 2018-2024
North America has a large share in this market. Omkar Harane a research analyst at Infinium Global Research quoted that the growth in the North America market for bio-succinic acid is due to strict regulations towards the harmful impact of usage of petroleum-based chemicals. These regulations have allowed noteworthy application of bio-succinic acid in various chemical manufacturing units. Hetal Patel further quoted that the Asia Pacific would be the fastest growing market due to increasing industrialization combined with increasing demand for bio-succinic acid in plasticizers, alkyd resins, and polyester polyols in these countries.
New Launches to remain key expansion strategies of the leading players in the succinic market during 2018-2024
June 2017, BioAmber Inc. launched BIO-SA™ pharmaceutical grade. Company’s president and COO told that this product would allow BioAmber to supply to high-value industries with commercial volumes of an FDA regulated bio-succinic acid, a grade previously unavailable to these markets till now.
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Major Key Players mentioned in this Premium Report
The report provides profiles of the companies in the global bio-succinic acid market such as, BASF SA, Mitsubishi Chemical, Mitsui & Co. Ltd, DSM, Myriant, BioAmber, Purac, Roquette Freres S.A., Reverdia, and Corbion N.V.
The report provides deep insights into demand forecasts, market trends and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the global bio-succinic acid market. Moreover, IGR-Growth Matrix analysis given in the report brings insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter’s five forces analysis and DRO analysis of the bio-succinic acid market. Moreover, the study highlights current market trends and provides forecast from 2018 to 2024. We also have highlighted future trends in the bio-succinic acid market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings insight into the market share of the leading players. Additionally, the analysis highlights rise and fall in the market shares of the key players in the market. This report will help manufacturers, suppliers and distributors of the bio-succinic acid market to understand the present and future trends in this market and formulate their strategies accordingly.