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Bio-Succinic Acid Market Volume is Expected to Reach 710 Kilo Tons with Corresponding Revenue of $1.1 billion Globally in 2020 – Allied Market Research

February 19, 2014

PORTLAND, Oregon, February 19, 2014 /PRNewswire/ –

Allied Market Research, today published a new market research report titled
“Bio-succinic Acid Market – Size, Share, Trends, Opportunities, Global Demand, Insights,
Analysis, Research, Report, Company Profiles, Segmentation and Forecast, 2013 – 2020.” As
per the study, the global bio-succinic acid market volume is expected to grow at a CAGR of
45.6% between 2013 and 2020. The market revenue was estimated to be $115.2 million in 2013
and is expected to grow to $1.1 billion by 2020. Increase in demand of bio-based chemicals
is the major driver for this market. In addition, rising crude oil prices, adoption in
newer industrial applications namely, 1,4-Butanediol (BDO), PBS, polyester polyols
(polyurethane), and plasticizers will enable faster growth of the market.

To buy a copy of the report visit

http://www.alliedmarketresearch.com/bio-succinic-acid-market

Succinic acid is used as an intermediate chemical for a wide range of applications
such as industrial, food, cosmetics, and pharmaceuticals. Until now, common source of
succinic acid at industrial level was fossil fuel. However, petroleum based succinic acid
shows significant carbon footprint during manufacturing process. This concern is now taken
care with the development process of bio-based succinic acid from agricultural feedstock.
“The potential for bio-succinic acid market is in the replacement of existing succinic
acid and adoption in newer industrial application areas, namely, 1,4-butanediol (BDO),
PBS, polyesterpolyols (polyurethane), alkyd resins and plasticizers. These factors
together will provide faster growth thrust to the market” states Allied Market Research
analyst Sarah Clark. “Presently, price of bio-succinic acid may hinder market growth as it
costs higher than petroleum based succinic acid. However, mass production and improvement
in production techniques will quickly address the cost viability issue of the bio-succinic
acid market” adds Ms. Clark. Moreover, lower volatility of feedstock prices will add to
its stable adoption in various application segments.

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Bio-succinic acid is currently being adopted the most in non-industrial applications
such as food, pharmaceuticals and cosmetics. However, BDO is one of the major application
segments of bio-succinic acid in terms of volume as well as revenue. This is mainly due to
higher application of BDO as an intermediate chemical in production of THF (
tetrahydrofuran), PBT (polybutylene terephtalate), and polyurethanes. Additionally, the
larger volume of bio-succinic acid consumed as compared to maleic anhydride for production
of BDO will also be the contributory to the growth of bio-succinic acid market. On the
other hand, alkyd resins application is the fastest growing segment in terms of volume,
growing at a CAGR of 93.6% during 2013-2020.

Geographical analysis of the market revealed that Europe is and will continue to be
the leading revenue generating regional market till 2020. This is mainly due to strict
regulatory imposition on the use of certain hazardous chemicals which pose as a threat to
environment and human beings. Hence, to comply with the requirements, manufacturers are
shifting to greener substitutes (bio-succinic acid). Asia Pacific is expected to be the
fastest growing market at a CAGR of 49.5% during the analysis period.

The report has profiled some of the key players of the market such as BioAmber,
Myraint, DSM, Mitsui & Co, Mitsubishi, BASF, Roquette Freres S.A., Purac and Reverdia.

Segments covered in the report:

BY APPLICATION

        - Industrial Application
             - 1,4-Butanediol (BDO)
             - Polyester Polyols
             - PBS
             - Plasticizers
             - Solvents & lubricants
             - Alkyd Resins
             - Resins, coatings, pigments
             - De-icer solutions
        - Food Application
        - Pharma Application
        - Cosmetics Application
        - Others

BY GEOGRAPHY

        - North America
        - Europe
        - Asia Pacific
        - RoW

About Us:

Allied Market Research (AMR) is a full-service market research and business consulting
wing of Allied Analytics LLP, based in Portland, Oregon. Allied Market Research provides
global enterprises as well as medium and small businesses with unmatched quality of
“Market Research Reports” and “Business Intelligence Solutions”. AMR has a targeted view
to provide business insights and consulting to assist its clients to make strategic
business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies, and this helps us
in digging out market data that helps us generate accurate research data tables and
confirm utmost accuracy in our market forecasting. All the data presented in the reports
published by us is extracted through primary interviews with top officials from leading
companies of concerned domain. Our secondary data procurement methodology includes deep
online and offline research and discussions with knowledgeable professionals and analysts
in the industry.

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SOURCE Allied Market Research


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