Covid-19 Impact on Bio Succinic Acid Market, Global Research Reports 2020-2021

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.

This report provides a complete quantitative data and qualitative analysis on the global market for Bio Succinic Acid. Market size is analysed by country, product type, application, and competitors. Expanded coverage includes additional end-user industry breakdowns and in-depth producer profiles.
Prior to COVID-19, the global market for Bio Succinic Acid was anticipated to grow from US$ XX million in 2020 to US$ XX million by 2026; it is expected to grow at a CAGR of xx% during 2021–2026, whereas post-COVID-19 scenario, the market for Bio Succinic Acid is projected to grow from US$ XX million in 2020 (a change by ~XX% compared to market estimated for 2020 before the outbreak of COVID-19) to US$ XX billion by 2026; it is expected to grow at a CAGR of XX% during 2021–2026.
This report covers market size and forecasts of Bio Succinic Acid, including the following market information:
Global Bio Succinic Acid Market Size, 2019-2021, and 2020 (quarterly data), (US$ Million) & (K MT)
Global Bio Succinic Acid Market Size by Type and by Application, 2019-2021, and 2020 (quarterly data), (US$ Million) & (K MT)
Global Bio Succinic Acid Market Size by Region (and Key Countries), 2019-2021, and 2020 (quarterly data), (US$ Million) & (K MT)
Global Bio Succinic Acid Market Size by Company, 2019- 2020 (quarterly data), (US$ Million) & (K MT)
Key market players
Major competitors identified in this market include BioAmber, Myraint, DSM, Mitsui, Mitsubishi, BASF, Roquette Frerse, Purac, Reverdia, etc.
Based on the Region:
Asia-Pacific (China, Japan, South Korea, India and ASEAN)
North America (US and Canada)
Europe (Germany, France, UK and Italy)
Rest of World (Latin America, Middle East & Africa)
Based on the Type:
Ammonium Sulphate Process
Direct Crystallization Process
Electrodialysis Process
Others
Based on the Application:
Industrial Application
Food Application
Pharma Application
Cosmetics Application
Others

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