Bio succinic acid is primarily being used as a replacement for petrol based succinic acid in few applications such as solvents and lubricants, de-icer solutions, cosmetics, food and pharma. Furthermore, newer application such as 1,4-Butanediol (BDO), PBS, plasticizers and polyesters polyols market will accelerate the future growth of the market. Additionally, higher cost of crude oil, increase in investments for green chemicals, demand for renewable chemicals, and increase in government support will further boost the growth of the market. However, higher price of bio succinic acid and lengthy extraction processes are primarily restraining the market growth for the next few years.
Various industrial application markets analyzed in the study includes BDO, polyester polyols, PBS, plasticizers, resins, coatings, & pigments, solvents & lubricants, alkyd resins, and de-icer solutions. The resins, coatings, & pigments market generated maximum revenue in the year 2013. However, seven years down the line, BDO is expected to emerge as the largest application segment. This is largely due to higher consumption of bio succinic acid in the production of BDO, as a replacement of maleic anhydride. It is estimated that 1.2 MT of bio succinic acid is needed to replace 1 MT of maleic anhydride.
The Global Bio Succinic Acid Market had reached xxx million USD with a CAGR xx from 2018-2022. Later on, it will go to xxx million USD in 2023 with a CAGR xx % from 2023-2030.

In the global Bio Succinic Acid Market, This report focuses particularly in North America, South America, Europe and Asia-Pacific, and Middle East and Africa. This report classifies the Market on the basis of application, type, regions, and manufactures.

In Market segmentation by manufacturers, the report covers the following companies-
BioAmber
Myraint
DSM
Mitsui
Mitsubishi
BASF
Roquette Frerse
Purac
Reverdia

In Market segmentation by geographical regions, the report has analysed the following regions-
North America (USA, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
South America (Brazil, Argentina, Columbia etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)

In Market segmentation by types :
Ammonium Sulphate Process
Direct Crystallization Process
Electrodialysis Process
Others

In Market segmentation by applications :
Industrial Application
Food Application
Pharma Application
Cosmetics Application
Others

The research provides answers to the following key questions:
• What is the estimated growth rate and Market share and size of the Bio Succinic Acid Market for the forecast period 2023-2030?
• What are the driving forces in the Bio Succinic Acid Market for the forecast period 2023-2030?
• Who are the prominent Market players and how have they gained a competitive edge over other competitors?
• What are the Market trends influencing the progress of the Bio Succinic Acid industry worldwide?
• What are the major challenges and threats restricting the progress of the industry?
• What opportunities does the Market hold for the prominent Market players?
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