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Bio Succinic Acid Market Analysis And Segment Forecasts To 2020

Published: Mar, 2014 | Pages: 75 | Publisher: Grand View Research
Industry: Chemicals | Report Format: Electronic (PDF)

Global Bio-Succinic Acid Market to Reach USD 992.8 Million by 2020
March 2014
The global market for bio-succinic acid is expected to reach USD 992.9 million by 2020, growing at a CAGR of 23.3% from 2014 to 2020. The recognition of succinic acid, as a potential platform chemical by the U.S. Department of Energy, has resulted in significant opportunities in replacement applications, particularly in maleic anhydride and adipic acid, for bulk volume industrial applications such as bioplastics, polyurethanes and engineering plastics. 

BDO was the largest application market for bio-succinic acid, with estimated volume of 19,877.5 tons in 2013, expected to grow at an estimated CAGR of 38.3% from 2014 to 2020. Cost-effective bio-succinic acid would result in the substitution of maleic anhydride for the manufacturing of BDO and downstream derivatives such as GBL and PBT, which are extensively used in the engineering plastics industry. Polybutylene succinate (PBS) is expected to be the fastest growing application, at an estimated CAGR of 38.9% from 2014 to 2020, on account of increasing bioplastics demand, particularly in Europe and North America. 

Further key findings from the study suggest:

The global demand for bio-succinic acid was 51,000 tons in 2013 and is expected to increase to 593,400 tons by 2020, growing at a CAGR of 32.2% from 2014 to 2020.
Polyester Polyols was the second largest application market for bio-succinic acid, and accounted for 10.67% of global demand in 2013. The use of polyester polyols in the manufacturing of polyurethanes coupled with the growing demand for polyurethanes for downstream application industry is expected to be a major driver for bio-succinic acid market.
Bio-succinic acid can be used as a replacement to various phthalate-based plasticizers, which is expected to unlock significant potential over the forecast period. The European Union has banned the use of certain phthalate plasticizers in production of PVC, spurring a race for the development of alternates to phthalate plasticizers. The plasticizers market is the largest addressable market for bio-succinic acid, being a potential replacement to phthalic anhydride and adipic acid in plasticizer manufacturing.
Europe was the largest market for bio-succinic acid in 2013, accounting for 49% of the global consumption. The region has witnessed increased preference towards the use of bio-based materials which is expected to be a key driver for the growth of bio-succinic acid market.
Asia Pacific is expected to be the fastest growing regional market, at an estimated CAGR of 33.9% from 2014 to 2020. The growing application industry in countries such as India and China is expected to be the key consumer of bio-succinic acid over the next six years. In addition, the high cost of petroleum based products is a major factor contributing to development of bio-based products in the region.
The market was highly consolidated in 2013 with only four companies manufacturing bio-succinic acid on a commercial scale. BioAmber, Reverdia, Myriant and Succinity were commercial manufacturers of bio-succinic acid in 2013 with Succinity being the largest in terms of installed capacity.
For the purpose of this study, Grand View Research has segmented the global bio-succinic acid market on the basis of application and region:

 Bio Succinic Acid Market Application Outlook
         BDO
         Polyester Polyols
         PBS/PBST
         Plasticizers
         Alkyd Resins
         Others
 Bio Succinic Acid Market Regional Outlook 
         North America 
         Europe 
         Asia Pacific
         RoW
 Table of Contents
Chapter 1 Executive Summary 1.1 Bio-Succinic Acid - Industry Summary & Critical Success Factors (CSFs) Chapter 2 Bio-Succinic Acid Industry Outlook 2.1 Market Segmentation 2.2 Market Size and Growth Prospects 2.3 Market Dynamics 2.4 Bio-Succinic Acid Value Chain Analysis 2.5 Key Opportunities Prioritized 2.6 Bio-Succinic Acid - Company Market Share Analysis 2.7 Bio-Succinic Acid - PESTEL Analysis 2.8 Bio-Succinic Acid Addressable Market Potential 2.9 Conventional Succinic Acid Market Outlook Chapter 3 Bio-Succinic Acid Application Outlook 3.1 BDO 3.2 Polyester Polyols 3.3 Plasticizers 3.4 PBS/PBST 3.5 Alkyd Resins 3.6 Others Chapter 4 Bio-Succinic Acid Regional Outlook 4.1 North America 4.2 Europe 4.3 Asia Pacific 4.4 RoW Chapter 5 Bio Succinic Acid Competitive Landscape 5.1 BioAmber 5.1.1 Company Overview 5.1.2 Financial Performance 5.1.3 Product Benchmarking 5.1.4 Strategic Initiatives 5.2 DSM 5.2.1 Company Overview 5.2.2 Financial Performance 5.2.3 Product Benchmarking 5.2.4 Strategic Initiatives 5.3 Mitsui & Co. 5.3.1 Company Overview 5.3.2 Financial Performance 5.3.3 Product Benchmarking 5.3.4 Strategic Initiatives 5.4 Mitsubishi Chemical 5.4.1 Company Overview 5.4.2 Financial Performance 5.4.3 Product Benchmarking 5.4.4 Strategic Initiatives 5.5 Purac 5.5.1 Company Overview 5.5.2 Financial Performance 5.5.3 Product Benchmarking 5.5.4 Strategic Initiatives 5.6 Roquette Freres SA 5.6.1 Company Overview 5.6.2 Financial Performance 5.6.3 Product Benchmarking 5.6.4 Strategic Initiatives 5.7 Reverdia 5.7.1 Company Overview 5.7.2 Financial Performance 5.7.3 Product Benchmarking 5.7.4 Strategic Initiatives 5.8 Succinity 5.8.1 Company Overview 5.8.2 Financial Performance 5.8.3 Product Benchmarking 5.8.4 Strategic Initiatives 5.9 Myriant 5.9.1 Company Overview 5.9.2 Financial Performance 5.9.3 Product Benchmarking 5.9.4 Strategic Initiatives Chapter 6 Methodology and Scope 6.1 Research Methodology 6.2 Research Scope & Assumption 6.3 List of Data Sources List of Tables
Global Bio Succinic acid market volume and revenue, 2012 - 2020 Global Bio Succinic acid market volume by region, (Tons), 2012 - 2020 Global Bio Succinic acid market revenue by region, (USD million), 2012 - 2020 Global Bio Succinic acid market volume by application, (Tons), 2012 - 2020 Global Bio Succinic acid market revenue by application, (USD million), 2012 - 2020 Global Bio Succinic acid demand in BDO, 2012 - 2020 (Tons) Global Bio Succinic acid demand in BDO, 2012 - 2020 (USD million) Global Bio Succinic acid demand in polyester polyols, 2012 - 2020 (Tons) Global Bio Succinic acid demand in polyester polyols, 2012 - 2020 (USD million) Global Bio Succinic acid demand in PBS/PBST, 2012 - 2020 (Tons) Global Bio Succinic acid demand in PBS/PBST, 2012 - 2020 (USD million) Global Bio Succinic acid demand in plasticizers, 2012 - 2020 (Tons) Global Bio Succinic acid demand in plasticizers, 2012 - 2020 (USD million) Global Bio Succinic acid demand in alkyd resins, 2012 - 2020 (Tons) Global Bio Succinic acid demand in alkyd resins, 2012 - 2020 (USD million) Global Bio Succinic acid demand in other application, 2012 - 2020 (Tons) Global Bio Succinic acid demand in other application, 2012 - 2020 (USD million) North America Bio Succinic acid market volume by application, (Tons), 2012 - 2020 North America Bio Succinic acid market revenue by application, (USD million), 2012 - 2020 Europe Bio Succinic acid market volume by application, (Tons), 2012 - 2020 Europe Bio Succinic acid market revenue by application, (USD million), 2012 - 2020 Asia Pacific Bio Succinic acid market volume by application, (Tons), 2012 - 2020 Asia Pacific Bio Succinic acid market revenue by application, (USD million), 2012 - 2020 RoW Bio Succinic acid Market volume by application, (Tons), 2012 - 2020 RoW Bio Succinic acid Market revenue by application, (USD million), 2012 - 2020 List of Figures Bio Succinic acid industry summary & critical success factors (CSFs) Bio Succinic acid market segmentation Global Bio Succinic acid market (volume & revenue), 2012 - 2020 Global Bio Succinic acid market volumes growth by region, (Tons), 2012 - 2020 Global Bio Succinic acid market volumes growth by application, (Tons), 2012 - 2020 Bio Succinic acid market dynamics Bio Succinic Acid Value Chain Analysis Bio Succinic acid company market share analysis, 2012 Key opportunities prioritized Industry analysis - Porter's Bio Succinic acid PESTEL analysis, 2012 Bio Succinic acid market volume share by application, 2012 & 2020 Global Bio Succinic acid demand in BDO, (volume & revenue), 2012-2020 Global Bio Succinic acid demand in polyester polyols, (volume & revenue), 2012-2020 Global Bio Succinic acid demand in PBS/PBST, (volume & revenue), 2012-2020 Global Bio Succinic acid demand in plasticizers , (volume & revenue), 2012-2020 Global Bio Succinic acid demand in alkyd resins , (volume & revenue), 2012-2020 Global Bio Succinic acid demand in other application, (volume & revenue), 2012-2020 Bio Succinic acid market volume share by region, 2012 & 2020 North America Bio Succinic acid market volume by application, (Tons), 2012-2020 North America Bio Succinic acid market revenue by application, (USD million), 2012-2020 Europe Bio Succinic acid market volume by application, (Tons), 2012-2020 Europe Bio Succinic acid market revenue by application, (USD million), 2012-2020 Asia Pacific Bio Succinic acid market volume by application, (Tons), 2012-2020 Asia Pacific Bio Succinic acid market revenue by application, (USD million), 2012-2020 RoW Bio Succinic acid Market volume by application, (Tons), 2012-2020 RoW Bio Succinic acid Market revenue by application, (USD million), 2012-2020

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