MarketStudyReport.com adds “Europe Bio-Based Succinic Acid Market Segmented by Application and Geography (2015-2020)” new report to its research database.
Given the fact that Europe has adopted the use of bio-based succinic acid in a wide range of chemical manufacturing processes, the demand for this compound in the region is estimated to have the fastest growth over the 2014-2020 analysis period. Succinic acid is an important intermediate chemical that finds application in the production of a variety of speciality and commodity chemicals which are further utilized for an extensive array of applications, such as polymers, food, metals, pharmaceuticals, coatings, fibers, solvents, lubricating oils, diesel fuel oxygenates and cosmetics among others.
In earlier days, Succinic acid was exclusively derived from petroleum but with the advancement of the current manufacturing procedures, renewable feedstock has been utilized for deriving this vital platform chemical. This biological method of obtaining Succinic acid is renewable, cost effective and eco-friendly and has a greater demand in the Market.
The entire continent of Europe has stringent regulations on the use of non-renewable sources and thus, strongly encourages the use of renewable sources that are environment friendly which increases the demand for bio-based Succinic acid further. Germany remains the largest, as well as the fastest growing Market for bio-based succinic acid in Europe, followed by France and the United Kingdom.
Major factors that are expected to propel the demand for bio-based succinic acids include a greater requirement for sustainable processes, growing concerns over the environment conservation and also, the slashing down of reliability on oil due to fast depleting fossil fuel reserves. Other Market driving forces include low cost and prospects offered in a wide range of applications, such as 1,4-butanediol, plasticizers, polyurethanes and thermoplastics. Fusing succunic acid with 1,4-butanediol results in opening up of innovative applications for green biopolymers such as polybutylene succinate (PBS) in biodegradable packaging films and disposable cutlery.
The Market i Segmented based on the applications ( 1,4-Butanediol & Derivatives, Cosmetics, De-Icer Solutions, Food, Pharmaceuticals, Plasticizers, Polyurethanes, Resins, Coatings, Pigments, Dyes & Inks, Solvents & Lubricants and Other Applications ) and Geography Germany, France, Italy, U.K., Spain). Some of the key players in the Market are Anqing Hexing Chemicals Ltd, BASF, Bio Amber Inc., DSM NV, Myraint Corp.
The need for feasible processes, growing concernss over the conservation of the environment along with the knowledge about the fast depleting fossil fuel reserves and stringent rules levied in the European nations protecting the same, all unifiedly work as the drivers for this Market t. Other Market drivers include the low cost and the wide range of applications associated with Succinic acid which further help in cementing its position as a powerful chemical.
Higher Price of Bio-based succinic acid and a lengthy extraction process are the constraints in the Market for this compound.
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