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Bio Succinic Acid Market Industry 2015 Market Size and Share, Growth, Market Price, Analysis, Forecast and Overview
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.
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Hexa Reports Market Research Reports and Insightful Company Profiles 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
Hexa Reports Market Research Reports and Insightful Company Profiles Europe Asia Pacific RoW Request A Sample copy of This Report @ http://www.hexareports.com/sample/42778 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
Hexa Reports Market Research Reports and Insightful Company Profiles 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 Browse Full Report @ http://www.hexareports.com/report/bio-succinic-acid-market-analysis-andsegment-forecasts-to-2020/details About Us: Hexa Reports is a market research and consulting organization, 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 obtain clarity about their business environment and enable them to undertake strategic growth initiatives. Contact Information: Ryan Shaw Felton Office Plaza, 6265 Highway 9, Felton, California, 95018, United States Phone Number 1-800-489-3075 Email Us: sales@hexareports.com Our Website: http://www.hexareports.com/ Visit Our Blogs: http://hexareports.blogspot.in