Conventionally, succinct acid was produced from petroleum raw
material which was an expensive process with hazardous emissions
resulting in restricted usage in health care, home & personal care
industry. Hence, key market players including Succinct, Bio Amber and Reverential recently invested in R&D to produce succinct acid from bio
based raw materials. These raw materials are cost effective and resulted
in lowering succinct acid prices in the global market. Favorable
regulatory norms are expected to be the key driving force for bio succinct acid market over the forecast period. It is used in food &
beverages, personal care and chemical industry. Bio succinct acid market
witnessed strategic partnerships with leading chemical companies
focusing on reducing overall production costs.
The major factor affecting the acid growth is the substitution of malefic anhydrous which is costly and has uncertain availability for
manufacturing of 1,4 butane and derivatives including polyethylene interrelate, gamma- but olfactory and tetrahedron. Cost effective
production gives an upper hand to bio succinct acid over MAN in
production of BOD.
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Application Insights
BOD was the leading application segment and accounted for over 30% in
2012. Other applications include polyester polyps, plasticizes,
PBS/TBSP and alkyd resins. The acid is used in food and beverage
industry and pharmaceutical industry as an acid regulator. The market is
expected to pose a threat to conventional petrochemical products
including MAN on the industrial level and is expected to have a positive
effect on the application market. Leather industry and engineering
plastics are the major BOD and polyurethane end-use industries. Growing bio plastics consumption in industries is expected to increase bio succinct acid demand in plastic manufacturing companies where, polyethylene succinctness (PBS) is a major raw material for bio plastics
manufacturing. Bio succinct acid is being increasingly used in polyester polyps manufacturing as a renewable substitute to addict acid which is
expected to fuel market demand.
Application Insights
Road construction accounted for more than 43% of market volume in
2013 becoming the largest application segment. Increasing consumption in
road foundations to strengthen weak soil which leads to increased life
span is expected to have positive impact on market growth. Erosion
control was the second largest application with 470 million square
meters of textiles volume in 2013. They are increasingly being used
for erosion control as they help in holding soil during excessive
rainfalls and water encroachments on riverbanks. Growing textiles use
to prevent soil clogging and material separation from water is expected
to promote market growth in drainage applications.
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Regional Insights
Europe emerged as the dominant bio succinic acid regional market and
accounted for over 45% of the total market in 2012. Favorable regulatory
norms and preferable environment for bio based product development in
the region is expected to have a positive impact on the bio succinic
acid market. Asia Pacific is expected to be the fastest growing bio
succinic acid market owing to rapid industrialization and growing
chemical industry especially production of polyester polyols,
plasticizers and alkyd resins in emerging markets including India and
China. U.S. DOE classified bio succinic acid among one of the building
block chemicals manufactured using biomass which will further augment
market demand in North America.
Table of Contents
Chapter 1 Executive Summary
1.1 Bio-Succinct Acid - Industry Summary & Critical Success Factors (CSFs)
Chapter 2 Bio-Succinct Acid Industry Outlook
2.1 Market Segmentation
2.2 Market Size and Growth Prospects
2.3 Market Dynamics
2.4 Bio-Succinct Acid Value Chain Analysis
2.5 Key Opportunities Prioritized
2.6 Bio-Succinct Acid - Company Market Share Analysis
2.7 Bio-Succinct Acid - PESTLE Analysis
2.8 Bio-Succinct Acid Addressable Market Potential
2.9 Conventional Succinct Acid Market Outlook
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offering industry reports, custom research and consulting services to a
host of key industries across the globe. We offer comprehensive business
intelligence in the form of industry reports which help our clients
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undertake strategic growth initiatives.
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