Albany, US, 2018-Jan-12 — /EPR Network/ —Succinic acid one of the most important industrial chemical which is derived from petroleum feedstock. They are utilized in several areas, from high-value niche applications, such as food, beverages and pharmaceuticals, to large-volume applications. However, use of petroleum-based succinic acid witnessed hindrances on the back of its carbon footprints and price volatility, which in turn led to the development of bio-based succinic acid. Bio-succinic acid is chemically equivalent to conventionally produced succinic acid and is appropriate for the same applications. Recently, a study titled “Bio-based Succinic Acid Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017-2026” has been publicized to the online repository of Market Research Hub (MRH), which explores the global bio-based succinic acid market in detail, enveloping key market dynamics exhaustively. A synopsis of bio-based succinic acid market at a global level has been delivered in the report, coupled with relevant market numbers including the historical (2012-2016) and the forecast (2017-2026) compound annual growth rate (CAGR).
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This report on global bio-based succinic acid market has been categorized by the report into six key regions viz. Latin America, Japan, North America, Europe, Middle East & Africa (MEA), and Asia-Pacific excluding Japan (APEJ). On the basis of regional analysis, the research highlights market growth on the specific application, end-user, and process type. As per the key findings, the global bio-based succinic acid market estimated to increase at a wonderful CAGR through the forecast period of 2017-2026. In addition to this, revenues from sales of bio-based succinic acid across the globe are gauged to surpass US$ 900 Mn by 2026-end.
In the present time, development of cost-effective and highly efficient bio-refineries is a prerequisite for realizing the aim of a bio-based economy. Bio-based product manufacturers have so far tapped into specialty or high-value chemicals market, however, modern biotechnology is enabling improvements in economics for bio-based building blocks such as bio-based succinic acid in bulk applications.
Major Findings from the Study
- Bio-based succinic acid is also adept of being used as a feedstock in production of biodegradable products. In addition, opportunities lie for bio-based succinic acid’s espousal for applications in detergents, pigments, surfactants, and resins.
- On the basis of geography, North America anticipated to become the largest market for bio-succinic acid by 2026-End. Several industries in the region have started commercializing the making of bio-based succinic acid via fermentation of sugars.
- On the basis of process type, revenues from electrodialysis process and direct crystallization process for manufacturing bio-based succinic acid will increase at a relatively higher CAGR.
- Personal care is expected to be the fastest expanding end-user of bio-based succinic acid, while chemical industry will remain the most profitable end-user throughout the forecast period.
Later, the study offers analysis on the competitive landscape of the global bio-based succinic acid market, which includes information about bulging industries that are performing well in the global bio-based succinic acid market. Key players highlighted in the study are Corbion N.V, Myriant Corporation, Roquette Frères S.A., Koninklijke DSM N.V, BioAmber Inc., and BASF SE.
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About Market Research Hub
Market Research Hub (MRH) is a next-generation reseller of research reports of different sector like chemicals industry reports and analysis. MRH’s expansive collection of industry reports has been carefully curated to help key personnel and decision makers across industry verticals to clearly visualize their operating environment and take strategic steps.
MRH functions as an integrated platform for the following products and services: Objective and sound market forecasts, qualitative and quantitative analysis, incisive insight into defining industry trends, and market share estimates. Our reputation lies in delivering value and world-class capabilities to our clients.
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