Bio Succinic Acid Market Size, Share, and Industry Analysis, By Application (1,4-butanediol (BDO), Polyester Polyols, Plasticizers, Alkyd Resins, PBS, and Others), By End-use (Industrial, Food & Beverages, Pharmaceuticals, Personal Care & Cosmetics and Others), and Regional Forecast, 2024-2032

Bio succinic acid is widely used in the production of biodegradable plastics, offering an eco-friendly alternative to conventional plastics. It serves as a key ingredient in the pharmaceutical industry for the synthesis of various drugs. Additionally, bio succinic acid is employed in the food and beverage sector as a flavor enhancer and a biobased building block in industrial processes.

• China has included bio-based chemicals in its 13th Five-Year Plan (2016-2020) as part of its move toward a greener economy. While specific mentions of bio succinic acid might not be explicit, the emphasis on bio-based chemicals signals supports for such endeavors.

Segmentation

Key Insights

The report covers the following key insights:

• Key Emerging Trends – For Major Regions


• Key Developments: Mergers, Acquisitions, and Partnerships


• Latest Technological Advancements


• Insights on Sustainability


• Porters Five Forces Analysis


• Impact of COVID-19 on the Market

Analysis By Application

By application, the market is classified into 1,4-butanediol (BDO), polyester polyols, plasticizers, alkyd resins, PBS, and others. The BDO segment holds a significant share of the global bio succinic acid market. BDO is integral in the production of biodegradable plastics, promoting sustainability in packaging and consumer goods. It serves as a building block for polybutylene terephthalate (PBT), which is used extensively in automotive and electronic components. BDO is utilized in the synthesis of thermoplastic polyurethanes (TPUs), enhancing flexibility and durability in textiles and footwear. In the pharmaceutical industry, BDO-derived tetrahydrofuran (THF) is essential for solvent applications, impacting drug formulation and delivery.

The alkyd resins segment primarily drives the bio succinic acid market. Alkyd resins derived from bio succinic acid are employed in producing eco-friendly paints and coatings due to their low toxicity and high-performance characteristics. They are also used in the manufacture of adhesives and sealants for construction and automotive industries, owing to their strong bonding properties and resistance to environmental stress. Furthermore, these resins find applications in the creation of composite materials utilized in the aerospace and automotive sectors for lightweight and durable components.

Analysis By End-use

By end-use, the market is classified into industrial, food & beverages, pharmaceuticals, personal care & cosmetics, and others. The industrial segment holds a considerable share of the global bio succinic acid market. Bio succinic acid's industrial applications include the manufacture of bioplastics and polyurethanes, the building block for solvents and coatings, and the production of personal care products, detergents, and flavors in the food industry.

Bio succinic acid finds applications in pharmaceuticals, where it's utilized as an intermediate for active pharmaceutical ingredients, and in agriculture, as a bio-based chemical for feedstock and green solvents, highlighting its versatility and eco-friendly benefits. In the pharmaceutical sector, bio succinic acid is integral for synthesizing active pharmaceutical ingredients (APIs) and enhancing drug formulations with their bio-based properties. Its application extends to developing biodegradable polymers used in drug delivery systems, ensuring controlled release and minimizing side effects. Additionally, bio succinic acid serves as a key ingredient in manufacturing personal care products, offering a greener alternative to traditional chemicals and thereby supporting the industry's shift toward sustainable practices.

Regional Analysis

The global market is geographically segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

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In 2022, Europe dominated the bio succinic acid market with approximately 35% share. The driving factors for the demand for bio succinic acid in Europe include a significant shift toward sustainable and eco-friendly products amidst rising environmental concerns. Stringent government regulations regarding the use of petrochemical-based products have further propelled the adoption of bio-based alternatives. Moreover, the region's growing pharmaceutical and personal care industries are major contributors to the surging need for this bio-based chemical.

Breakdown of pharmaceutical sales in 2023,

• North America- 49%


• Europe- 24%


• China - 9%


• Japan - 6%


• Latin America - 4.5%


• Others - 7.5%

The major bio succinic acid market consumers by region are China, Japan, and India in Asia Pacific; the U.S. & Canada in North America; Germany and France in Europe; and Saudi Arabia and UAE in the Middle East.

• In 2023, the total sales of pharmaceuticals in the U.S. was USD 670 billion.


• The total pharmaceutical sales in China was USD 121.6 billion in 2023.

Key Players Covered

The report includes the profiles of key players, such as BASF SE, DSM, Roquette Freres, BioAmber, Myriant Corporation, Kawasaki Kasei Chemicals, Mitsui & Co., Ltd, and Mitsubishi Chemical Corporation.

Key Industry Developments

• In December 2022, The Mitsubishi Chemical Group, a specialty materials group, partnered with Chukyo Yushi Co. Ltd., a manufacturer of processing aids and additives, to develop a biodegradable solution using its plant-derived biodegradable polymer called BioPBS. This polymer is made from succinic acid obtained from natural resources and 1,4-butanediol.


• In June 2021, Roquette Frères announced that the company had earned the U.S. Department of Agriculture (USDA) certified Bio-based Product Label for their product BIOSUCCINIUM.