Succinic Acid - A Global Strategic Business Report - new market research report published
2012-11-23 10:20:27 - Succinic Acid - A Global Strategic Business Report - a new market research report on companiesandmarkets.com
The global succinic acid market is projected to reach 144.7 thousand tons by the year 2015, driven by the anticipated rise in the use of bio-based succinic acid as an eco-friendly and low-cost replacement for conventional petroleum-based processes. Growth is also led by rising demand for using succinic acid as a building block in various high-value and high-volume chemicals such
as 1, 4 Butanedoil (BDO).
Succinic acid, also known as amber acid, is a key building block for a wide range of secondary chemicals, and finds use in chemical, pharmaceutical, food, and agricultural industries. The dicarboxylic acid (with molecular formula: C4H6O4) is presently produced primarily from petroleum feedstock, while a smaller proportion of succinic acid is produced through fermentation process. A predominant proportion of the global succinic acid is manufactured from n-butane. Succinic acid has remained a largely under-exploited market, primarily due to the high production cost associated with the petroleum-derived process. However, the commercial-scale availability of bio-based succinic acid is expected to change the scenario, by facilitating reduction in the overall cost of production and eliminating excessive dependence on fuel sources.
The increasing use of bio-based succinic acid production as a replacement for conventional and expensive petroleum-based processes is expected to fuel market growth, as stated by the new market research report on succinic acid market. A major driving force for the bio-based succinic acid market is the growing need for green substitutes for chemicals (direct ingredients as well as raw materials) that are presently used for producing polymers and other complex derivatives. The bio-succinic acid market is expected to make rapid strides due to the increasing political and regulatory pressures on chemical industry for lowering carbon emissions. In addition, volatile prices of oil and the likelihood of further fuel price rise in the future is compelling chemical industry participants to seek alternatives and ensure profitability by reducing dependence on fossil fuel. The global market for succinic acid (petroleum-derived and bio-based) is projected to grow at a compounded annual rate of 23.5% over the analysis period.
Potential opportunities exist for the use of bio-based succinic acid as replacements for butane-based maleic anhydride, which is widely used in the manufacture of other chemicals such as succinic anhydride, fumaric acid, diethylmaleate, glyoxylic acid, and other plastics. Bio-based succinic acid can be used for the manufacture of polymers, which are conventionally produced from butane. Bio-succinic acid´s use in polyols and polyurethanes production process, presently involving the use of adipic acid as a precursor, is also likely to boost prospects in the succinic acid market. Another potential area of growth is pyrrolidiniones, used for producing green solvents and eco-friendly chemicals for water treatment.
A key challenge in expanding the usage of bio-succinic acid as a building block is the need for developing lower cost fermentation processes. For ensuring competitiveness of bio-succinic acid compared to petrochemical-derived products, there exists a need for significantly reducing the fermentation cost of sugar. Additionally, fermentation process needs to be improved in terms of productivity, nutrient requirement for the process, final titer, and pH considerations. Further, the limited success of other biochemical production initiatives prevents manufacturers from foraying into the bio-succinic acid market.
Rising popularity of renewable chemicals is driving chemical companies to foray into the production bio-based chemicals and adopt eco-friendly production processes. Major players profiled in the report include Agro-Industrie Recherches et DÃ©veloppements, Anhui Sanxin Chemical Co., Ltd., Anqing Hexing Chemical Co., Ltd. BASF SE, Bio-amber S.A.S, DNP Green Technology Inc., Kawasaki Kasei Chemicals Ltd., MBI International, Myriant Technologies LLC, Roquette FrÃ¨res S.A., and Royal DSM N.V.
The report titled Succinic Acid: A Global Market Report provides a comprehensive review of market trends, competitive scenario, product introductions/innovations, and recent industry activity. The study analyzes market data and analytics in terms of shipments and revenues.
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