Bio-Based Succinic Acid Market Synopsis

Bio-Based Succinic Acid Market Size Was Valued at USD 184.48 Billion in 2023 and is Projected to Reach USD 669.58 Billion by 2032, Growing at a CAGR of 15.40 % From 2023-2032.

Bio-based succinic acid market can be defined as the branch of the chemical market addressed to production and sales of succinic acid derived from bio-materials including agri-materials and bio-mass. Petro based succinic acid is chemically produced from fossil feed stocks whereas bio based succinic is produced using bio renewable feed stocks and appeals to the new generation consumer seeking environmentally friendly and biodegradable products. This market is stimulated by factors such as growing sensitivity to environment problems, legislations to renewable resources, and expanding uses of succinic acid in the food and drugs industries, cosmetics, and biopolymers.

• The market for bio-based succinic acid is expected to expand rapidly in the near future due to growing consumer preferences for renewable green chemistry products in all sectors. It is made from renewable feedstock like carbohydrates and that makes it preferred than traditional petroleum derived succinic acid. The increased awareness of environmental concerns and the call towards sustainability and fresher processes has also increased the utilization of bio-based succinic acid across the food and beverage, pharmaceutical and biodegradable plastics industries. Not only has this shifted helped in supporting sustainability efforts, but it has also helped in maximizing the market especially in terms of size.
• Bio based development in the production of succinic acid is also enhancing technological advancement of the market. New advances in the fermentation techniques and the creation of higher yielding microbial strains, are helping in reducing the total cost of succinic acid production. Moreover, government support towards the use of renewable chemicals and material is supporting production of bio-based succinic acid. The current and future market is expected to be driven by consumers looking for products with limited impact on the environment, especially due to the increasing demand from the industries that would have to provide products that meet these needs. In general, the bio-based succinic acid market faces excellent opportunities to grow as the demand for materials and products derived from renewable resources increases considerably.

Bio-Based Succinic Acid Market Trend Analysis

Growing Demand for Sustainable Alternatives

• They say that carbon derived products have seen application in numerous fields the market is moving towards sustainability bio-based succinic acid is a good example of such carbon derived product. Such change is attributed overwhelmingly to increasing consciousness of environmental problems and to the enactment of laws that promote the application of green chemistry. Primary markets interested in bio-based succinic acid are the pharmaceuticals, foods and beverages as well as polymers segments, which are looking for sustainable materials that meet market and environmental standards. Through the use of bio-based chemicals in their processes, these industrial domains hope to half the emission rates and encourage a green chain.
• Furthermore, increased production of bio-based succinic acid is triggered by the technique enhancement especially in the fermentation procedure. Technological advancement in microbial fermentation is increasing the productivity and economics of succinic acid from biomass feed stocks. When research institution gears up cooperating with industry players, the creation of new production processes and uses go on growing, thus increasing bio-based succinic acid affordability and attractiveness. This trend not only contribute to market development but also indicate a direction to shift bio-based succinic acid towards the sustainable chemical industry.

Technological Advancements and Collaborations Driving the Bio-Based Succinic Acid Market Expansion

• They concluded that improved fermentation techniques and improved enzymes ere crucial to growth of the bio-based succinic acid market. Newer technologies associated with microbial fermentation processes are improving production capacity, and therefore, production quality is increased while costs of production are decreased. These developments are enabled to maintain more durability in manufacturing, thus making bio based succinic acid a good substitute for petroleum products. Thus, as firms embrace these innovative methods of doing things, they shall enhance operational productivity in meeting the increasing needs of industries such as the plastics, pharmaceuticals and food additives industries for sustainable materials.
• However, developments with claims that relate to establishing partnerships between the research institutions and industrial partners are boosting the commercialization of bio-based succinic acid. Such relationships are providing both, knowledge and technology transfer, hence fueling the improvements in production techniques. Thus, higher spending on research activities to enhance bio-based succinic acid yields and discover additional uses is expected to improve production efficiency and stimulate further demand. This type of approach will not only improve product development as the market matures but will also support the longevity of the bio-based materials market as a whole and help cement bio-based succinic acid’s place in this green shift.

Bio-Based Succinic Acid Market Segment Analysis:

Bio-Based Succinic Acid Market Segmented based on By Source, By Application and By End-User Industry.

By Source, Plant-based segment is expected to dominate the market during the forecast period

• Starches, celluloses, and proteins derived from plant sources are rapidly becoming popular since knowledge of the advantages of biopolymers over traditional petroleum-based polymers is increasing. These renewable materials also bring to the table biodegradability and the ability to minimize the carbon emissions linked to polymers manufacture. This is especially because sustainability has emerged as a major factor of consumption and production, plant based biopolymers have therefore received massive attention in the fight against environment menace. More importantly, their flexibility makes them suitable for numerous uses or uses where a single-use plastic would otherwise be used. Consumers all over the world have been increasingly demanding sustainable packaging as they seek to reduce their negative impact on the environment and the market has been supported by governments through policy making.
• Increased and evolving awareness of environmental issues is driving the search for new plant biopolymers and evoking a desire for new biodegradable polymer solutions. There is a shift towards improvement of some properties of these biopolymers including mechanical strength, barrier ability and high temperature capability to rival conventional plastics. When enterprise aims to achieve sustainability initiatives as well as market pressures continue to shift with growth, plant-based biopolymers are well-situated to provide value for circular economy. The availability and advancements in the applications and processes for high value plant based biopolymers further improve their trend, consolidating their position as a major player from the biopolymer market and paving the way for an eco-friendly society.

By End-User Industry, Automotive segment held the largest share in 2023

• In the automobile industry, the use of biopolymers is rapidly on the rise due to the bent towards sustainability and innovation. The use of biopolymers is gaining increased interest in the use of interior components, insulating material, and even biodegradable components. This transition is primarily due to issues of light weighting of vehicles which subsequently has a direct linkage with the emission standard. Lighter in weight than the conventional plastics, the biopolymers make it possible to develop functional components which besides meeting the performance criteria will contribute to the overall sustainability of cars. With car manufacturers expanding their efforts towards meeting new environment laws and rising global demand for green products, the use of biopolymers is fast emerging as a strategic step for many manufacturers.
• In addition, biopolymers are usable in a variety of developing applications with the automotive system, including seat cushions, neglected boards, or even within the hoods of vehicles. These materials can be developed for similar levels of toughness and stiffness to the regular plastics but with the possibilities of being bio-based. Environmental considerations in the automotive manufacturing industry are also shifting towards circular economy where biopolymers are looked at as a replacement material for plastics with the goal of solving the recycling challenge . With the growing technologies in biopolymer, one can assume automotive industry to invest and innovate more in biopolymers rather than as replacements but as the new generation technological part of sustainable vehicles.

Bio-Based Succinic Acid Market Regional Insights:

North America is Expected to Dominate the Market Over the Forecast period

• In North American especially the United States market for the bio based succinic acid is promising due to the increasing focus on green and renewable chemical materials. The region has a well developed R&D base which is critical to driving innovation in bio based systems. Stakeholders within this market are therefore committed to value creating activities, and improvements in efficiency and productivity, and therefore costs.
• Another important driver contributing the market growth is the good regulatory framework. Several policies at the federal as well as the state level to support the utilization of bio-based products to ensure that manufacturers are encouraged. Aside from encouraging sustainable practices that benefit the competitiveness of bio-based succinic acid, incentives also support the important objective of decarbonizing industries. This changing regulatory environment is encouraging enterprises to consider green SCM and efficient production methodologies and thereby strengthening North America’s credentials as the leading global bio-based chemicals market. The emerging trends relating to the usage of ecological solutions have driven the demand for bio based succinic acid, and the region shall observe an upward trend.

Active Key Players in the Bio-Based Succinic Acid Market

• BioAmber Inc
• Myriant Corporation
• Reverdia
• Kraton Corporation
• Green Chemical Solutions
• Succinity GmbH
• Novamont S.p.A and Other Key Players

Chapter 1: Introduction
 1.1 Scope and Coverage

Chapter 2:Executive Summary

Chapter 3: Market Landscape
 3.1 Market Dynamics
  3.1.1 Drivers
  3.1.2 Restraints
  3.1.3 Opportunities
  3.1.4 Challenges
 3.2 Market Trend Analysis
 3.3 PESTLE Analysis
 3.4 Porter's Five Forces Analysis
 3.5 Industry Value Chain Analysis
 3.6 Ecosystem
 3.7 Regulatory Landscape
 3.8 Price Trend Analysis
 3.9 Patent Analysis
 3.10 Technology Evolution
 3.11 Investment Pockets
 3.12 Import-Export Analysis

Chapter 4: Bio-Based Succinic Acid Market by Source
 4.1 Bio-Based Succinic Acid Market Snapshot and Growth Engine
 4.2 Bio-Based Succinic Acid Market Overview
 4.3 Plant-based & Microbial
  4.3.1 Introduction and Market Overview
  4.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.3.3 Key Market Trends, Growth Factors and Opportunities
  4.3.4 Plant-based & Microbial: Geographic Segmentation Analysis

Chapter 5: Bio-Based Succinic Acid Market by Application
 5.1 Bio-Based Succinic Acid Market Snapshot and Growth Engine
 5.2 Bio-Based Succinic Acid Market Overview
 5.3 Plastics
  5.3.1 Introduction and Market Overview
  5.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.3.3 Key Market Trends, Growth Factors and Opportunities
  5.3.4 Plastics: Geographic Segmentation Analysis
 5.4 Pharmaceuticals
  5.4.1 Introduction and Market Overview
  5.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.4.3 Key Market Trends, Growth Factors and Opportunities
  5.4.4 Pharmaceuticals: Geographic Segmentation Analysis
 5.5 Food and Beverages
  5.5.1 Introduction and Market Overview
  5.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.5.3 Key Market Trends, Growth Factors and Opportunities
  5.5.4 Food and Beverages: Geographic Segmentation Analysis
 5.6 Agriculture
  5.6.1 Introduction and Market Overview
  5.6.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.6.3 Key Market Trends, Growth Factors and Opportunities
  5.6.4 Agriculture: Geographic Segmentation Analysis
 5.7 Cosmetics
  5.7.1 Introduction and Market Overview
  5.7.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.7.3 Key Market Trends, Growth Factors and Opportunities
  5.7.4 Cosmetics: Geographic Segmentation Analysis

Chapter 6: Bio-Based Succinic Acid Market by End-User Industry
 6.1 Bio-Based Succinic Acid Market Snapshot and Growth Engine
 6.2 Bio-Based Succinic Acid Market Overview
 6.3 Automotive
  6.3.1 Introduction and Market Overview
  6.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.3.3 Key Market Trends, Growth Factors and Opportunities
  6.3.4 Automotive: Geographic Segmentation Analysis
 6.4 Textiles
  6.4.1 Introduction and Market Overview
  6.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.4.3 Key Market Trends, Growth Factors and Opportunities
  6.4.4 Textiles: Geographic Segmentation Analysis
 6.5 Construction
  6.5.1 Introduction and Market Overview
  6.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.5.3 Key Market Trends, Growth Factors and Opportunities
  6.5.4 Construction: Geographic Segmentation Analysis

Chapter 7: Company Profiles and Competitive Analysis
 7.1 Competitive Landscape
  7.1.1 Competitive Benchmarking
  7.1.2 Bio-Based Succinic Acid Market Share by Manufacturer (2023)
  7.1.3 Industry BCG Matrix
  7.1.4 Heat Map Analysis
  7.1.5 Mergers and Acquisitions
  
 7.2 BIOAMBER INC
  7.2.1 Company Overview
  7.2.2 Key Executives
  7.2.3 Company Snapshot
  7.2.4 Role of the Company in the Market
  7.2.5 Sustainability and Social Responsibility
  7.2.6 Operating Business Segments
  7.2.7 Product Portfolio
  7.2.8 Business Performance
  7.2.9 Key Strategic Moves and Recent Developments
  7.2.10 SWOT Analysis
 7.3 MYRIANT CORPORATION
 7.4 REVERDIA
 7.5 KRATON CORPORATION
 7.6 GREEN CHEMICAL SOLUTIONS
 7.7 SUCCINITY GMBH
 7.8 NOVAMONT S.P.A
 7.9 OTHER KEY PLAYERS.

Chapter 8: Global Bio-Based Succinic Acid Market By Region
 8.1 Overview
 8.2. North America Bio-Based Succinic Acid Market
  8.2.1 Key Market Trends, Growth Factors and Opportunities
  8.2.2 Top Key Companies
  8.2.3 Historic and Forecasted Market Size by Segments
  8.2.4 Historic and Forecasted Market Size By Source
  8.2.4.1 Plant-based & Microbial
  8.2.5 Historic and Forecasted Market Size By Application
  8.2.5.1 Plastics
  8.2.5.2 Pharmaceuticals
  8.2.5.3 Food and Beverages
  8.2.5.4 Agriculture
  8.2.5.5 Cosmetics
  8.2.6 Historic and Forecasted Market Size By End-User Industry
  8.2.6.1 Automotive
  8.2.6.2 Textiles
  8.2.6.3 Construction
  8.2.7 Historic and Forecast Market Size by Country
  8.2.7.1 US
  8.2.7.2 Canada
  8.2.7.3 Mexico
 8.3. Eastern Europe Bio-Based Succinic Acid Market
  8.3.1 Key Market Trends, Growth Factors and Opportunities
  8.3.2 Top Key Companies
  8.3.3 Historic and Forecasted Market Size by Segments
  8.3.4 Historic and Forecasted Market Size By Source
  8.3.4.1 Plant-based & Microbial
  8.3.5 Historic and Forecasted Market Size By Application
  8.3.5.1 Plastics
  8.3.5.2 Pharmaceuticals
  8.3.5.3 Food and Beverages
  8.3.5.4 Agriculture
  8.3.5.5 Cosmetics
  8.3.6 Historic and Forecasted Market Size By End-User Industry
  8.3.6.1 Automotive
  8.3.6.2 Textiles
  8.3.6.3 Construction
  8.3.7 Historic and Forecast Market Size by Country
  8.3.7.1 Bulgaria
  8.3.7.2 The Czech Republic
  8.3.7.3 Hungary
  8.3.7.4 Poland
  8.3.7.5 Romania
  8.3.7.6 Rest of Eastern Europe
 8.4. Western Europe Bio-Based Succinic Acid Market
  8.4.1 Key Market Trends, Growth Factors and Opportunities
  8.4.2 Top Key Companies
  8.4.3 Historic and Forecasted Market Size by Segments
  8.4.4 Historic and Forecasted Market Size By Source
  8.4.4.1 Plant-based & Microbial
  8.4.5 Historic and Forecasted Market Size By Application
  8.4.5.1 Plastics
  8.4.5.2 Pharmaceuticals
  8.4.5.3 Food and Beverages
  8.4.5.4 Agriculture
  8.4.5.5 Cosmetics
  8.4.6 Historic and Forecasted Market Size By End-User Industry
  8.4.6.1 Automotive
  8.4.6.2 Textiles
  8.4.6.3 Construction
  8.4.7 Historic and Forecast Market Size by Country
  8.4.7.1 Germany
  8.4.7.2 UK
  8.4.7.3 France
  8.4.7.4 Netherlands
  8.4.7.5 Italy
  8.4.7.6 Russia
  8.4.7.7 Spain
  8.4.7.8 Rest of Western Europe
 8.5. Asia Pacific Bio-Based Succinic Acid Market
  8.5.1 Key Market Trends, Growth Factors and Opportunities
  8.5.2 Top Key Companies
  8.5.3 Historic and Forecasted Market Size by Segments
  8.5.4 Historic and Forecasted Market Size By Source
  8.5.4.1 Plant-based & Microbial
  8.5.5 Historic and Forecasted Market Size By Application
  8.5.5.1 Plastics
  8.5.5.2 Pharmaceuticals
  8.5.5.3 Food and Beverages
  8.5.5.4 Agriculture
  8.5.5.5 Cosmetics
  8.5.6 Historic and Forecasted Market Size By End-User Industry
  8.5.6.1 Automotive
  8.5.6.2 Textiles
  8.5.6.3 Construction
  8.5.7 Historic and Forecast Market Size by Country
  8.5.7.1 China
  8.5.7.2 India
  8.5.7.3 Japan
  8.5.7.4 South Korea
  8.5.7.5 Malaysia
  8.5.7.6 Thailand
  8.5.7.7 Vietnam
  8.5.7.8 The Philippines
  8.5.7.9 Australia
  8.5.7.10 New Zealand
  8.5.7.11 Rest of APAC
 8.6. Middle East & Africa Bio-Based Succinic Acid Market
  8.6.1 Key Market Trends, Growth Factors and Opportunities
  8.6.2 Top Key Companies
  8.6.3 Historic and Forecasted Market Size by Segments
  8.6.4 Historic and Forecasted Market Size By Source
  8.6.4.1 Plant-based & Microbial
  8.6.5 Historic and Forecasted Market Size By Application
  8.6.5.1 Plastics
  8.6.5.2 Pharmaceuticals
  8.6.5.3 Food and Beverages
  8.6.5.4 Agriculture
  8.6.5.5 Cosmetics
  8.6.6 Historic and Forecasted Market Size By End-User Industry
  8.6.6.1 Automotive
  8.6.6.2 Textiles
  8.6.6.3 Construction
  8.6.7 Historic and Forecast Market Size by Country
  8.6.7.1 Turkey
  8.6.7.2 Bahrain
  8.6.7.3 Kuwait
  8.6.7.4 Saudi Arabia
  8.6.7.5 Qatar
  8.6.7.6 UAE
  8.6.7.7 Israel
  8.6.7.8 South Africa
 8.7. South America Bio-Based Succinic Acid Market
  8.7.1 Key Market Trends, Growth Factors and Opportunities
  8.7.2 Top Key Companies
  8.7.3 Historic and Forecasted Market Size by Segments
  8.7.4 Historic and Forecasted Market Size By Source
  8.7.4.1 Plant-based & Microbial
  8.7.5 Historic and Forecasted Market Size By Application
  8.7.5.1 Plastics
  8.7.5.2 Pharmaceuticals
  8.7.5.3 Food and Beverages
  8.7.5.4 Agriculture
  8.7.5.5 Cosmetics
  8.7.6 Historic and Forecasted Market Size By End-User Industry
  8.7.6.1 Automotive
  8.7.6.2 Textiles
  8.7.6.3 Construction
  8.7.7 Historic and Forecast Market Size by Country
  8.7.7.1 Brazil
  8.7.7.2 Argentina
  8.7.7.3 Rest of SA

Chapter 9 Analyst Viewpoint and Conclusion
9.1 Recommendations and Concluding Analysis
9.2 Potential Market Strategies

Chapter 10 Research Methodology
10.1 Research Process
10.2 Primary Research
10.3 Secondary Research