The Germany bio succinic acid market is estimated to grow at a significant growth rate of 22.0% over the forecast period from $17.0 million in 2018. Germany has well-developed chemical industry and is considered one of the leading countries in the European chemical industry. The companies in Germany having an overall turnover of approximately $225.5 billion, chemicals and pharmaceuticals are the third-largest industry in Germany, after machinery, automotive and equipment sectors. Germany’s chemical industry is robust across Europe, in all segments comprising agrochemicals, cosmetics, pharmaceuticals, petrochemicals, basic inorganics, polymers, and specialties chemicals. As per CEFIC around 2,050 companies partly organized in 40 Chemical Parks employed more than 462,553 people in 2018. Sales in the industry rose by approximately 4% to $225.5 billion in 2018, and 60% of total sales were generated with development until 2050. In addition, the increased spending on the R&D of chemicals in the country is expected to provide growth opportunities to market growth during the forecast period. For instance, the total spending in 2017 was $ 12.7 billion which is expected to increase up to $28.6 billion in 2050.

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The Germany market of bio-succinic acid is segmented on the basis of applications and raw-materials. Bio-succinic acid has been extensively used in the chemical industry. On the basis of application, the market is further classified into chemical industry, pharmaceutical industry, food & beverage industry, and others. Chemical industry is further broadly classified into 1,4-Butanediol (BDO), plasticizers, polybutylene succinate (PBS), solvent and lubricant, and polyols. Chemical industry dominated the global bio succinic acid market in 2018 and is estimated to follow the same trend over the forecast period. This is due to large demand for bio succinic acid for the production of 1,4-BDO, PBS and other polymers. As per OMR analysis, global BDO production industry takes around 55.0% of the total bio succinic acid in terms of revenue in 2018.

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Germany Bio Succinic Acid Market Segmentation

By Application

Chemical Industry

Pharmaceutical Industry

Food & Beverage Industry

Others (Cosmetic Industry)

By Raw Material

Corn

Sugarcane

Cassava

Others (Coffee Husk)

Company Profiles

Anqing Hexing Chemical Co., Ltd.

BASF SE

Corbion N.V.

Jin Hui Zhao Long High-Tech Co., Ltd.

LCY Chemical Corp.

Merck KGaA

Mitsubishi Chemical Corp.

Reverdia V.O.F.

Roquette Freres SA

Shandong Landian Biological Technology Co., Ltd.

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