Bio-Based Succinic Acid Market Overview:
The global bio-based succinic acid market is expected to register a CAGR of 19.6% during the forecast period, 2018–2023.
The global bio-based succinic acid market has been segmented on the basis of processed type, application, end-use industry, and region.
Bio-Based Succinic Acid Market Key Players:
Some of the major players operating in the global bio-based succinic acid market are BioAmber Inc (US), DSM (The Netherlands), Mitsui & Co., Ltd (Japan), Mitsubishi Chemical Corporation (Japan), BASF SE (Germany), Roquette Frères (France), Corbion (Netherlands), and Reverdia (The Netherlands).
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Bio-Based Succinic Acid Market Regional Analysis:
The global bio-based succinic acid market has been analyzed across five regions, namely Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa. North America is projected to witness remarkable growth during the forecast period, owing to the increasing use of the product in the automotive, personal care, and pharmaceutical industries. The Asia-Pacific market is expected to witness healthy growth during the review period, owing to the growth of the chemical and pharmaceutical industries.
The European market for bio-based succinic acid is expected to grow at a significant rate due to the growing use of the product in different applications, especially in the healthcare industry. The Latin American and the Middle East & African markets for bio-based succinic acid are projected to witness moderate and sluggish growth, respectively, during the review period.
Bio-Based Succinic Acid Market Segment:
By application, the global bio-based succinic acid market has been classified into 1, 4 butanediol, polybutylene succinate, plasticizers, polyester polyols, polymers & esters, solvents & coatings, and others. The 1,4 butanediol segment accounted for the largest share of the global bio-succinic acid market in 2018. It is used as an industrial chemical and as a solvent starting material for many important industrial chemicals, such as γ-butyrolactone (GBL), tetrahydrofuran (THF), 2-pyrrolidone (2-P), and N-methyl-2-pyrrolidone (NMP). The growing chemical industry is expected to boost the growth of 1,4 butanediol segment, and it is expected to continue its dominance during the forecast period.
On the basis of end-use industry, the global bio-based succinic acid has been segmented into chemical, food & beverage, pharmaceutical, personal care, and agriculture. The chemical segment held the largest share in 2018, due to the rapid growth of the chemical industry and extensive use of bio-succinic acid in the industry for producing chemicals.
Bio-Based Succinic Acid Market Table Of Contents to be Continue….,
Browse key industry insights spread across 140 pages with 47 market data tables & 12 figures & charts from the report, “Global Bio-Based Succinic Acid Market: Information by Processed Type (Ammonium Sulphate Process, Direct Crystallization Process), Application (1,4 Butanediol, Polybutylene Succinate, Plasticizers), End-Uses Industry (Chemical, Food) and Region - Growth Potential, Price Trends, Competitive Market Share & Forecast, 2023” in detail along with the table of contents @ https://www.marketresearchfuture.com/reports/bio-based-succinic-acid-market-7779
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