Reports > Chemicals And Materials > Bio Based Succinic Acid Market Report
Bio Based Succinic Acid Market Size, Share, Industry Trends and Forecast to 2033
This report provides a comprehensive analysis of the Bio Based Succinic Acid market, including market sizing, segmentation, regional insights, and industry trends for the forecast period from 2023 to 2033. Critical data-driven insights are included to support future investment decisions.
| Metric | Value |
|---|---|
| Study Period | 2023 - 2033 |
| 2023 Market Size | $184.00 Million |
| CAGR (2023-2033) | 10.7% |
| 2033 Market Size | $528.47 Million |
| Top Companies | BioAmber, DSM, Reverdia, Asahi Kasei Corporation |
| Last Modified Date | 15 Nov 2024 |
Bio Based Succinic Acid Market Report (2023 - 2033)
Bio Based Succinic Acid Market Overview
What is the Market Size & CAGR of Bio Based Succinic Acid market in 2023?
Bio Based Succinic Acid Industry Analysis
Bio Based Succinic Acid Market Segmentation and Scope
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Bio Based Succinic Acid Market Analysis Report by Region
Europe Bio Based Succinic Acid Market Report:
In Europe, the market size was $59.08 million in 2023 and is likely to increase to $169.69 million by 2033. The region has stringent regulations aimed at reducing carbon emissions, spurring demands for bio-based alternatives. Countries like Germany, France, and the UK are leading the adoption of bio-based succinic acid across various industries.Asia Pacific Bio Based Succinic Acid Market Report:
In the Asia-Pacific region, the Bio Based Succinic Acid market was valued at $35.33 million in 2023 and is expected to reach $101.47 million by 2033, reflecting a strong adoption of bio-based chemicals driven by governmental support and manufacturing growth in countries like China and India. The demand for sustainable packaging solutions and automotive applications in this region is poised to drive the market further.North America Bio Based Succinic Acid Market Report:
North America accounts for a significant share in the Bio Based Succinic Acid market, with an estimated value of $60.06 million in 2023, expected to grow to $172.49 million by 2033. The US and Canada are crucial markets due to extensive R&D in bioprocessing technologies and a strong emphasis on sustainability among manufacturers and consumers alike.South America Bio Based Succinic Acid Market Report:
The South American market for Bio Based Succinic Acid was valued at $15.05 million in 2023 and is projected to grow to $43.23 million by 2033. Increasing investments in green technology and agricultural resources are enhancing production capacities in Brazil, Argentina, and Chile, making this region a growing hub for bio-based chemicals.Middle East & Africa Bio Based Succinic Acid Market Report:
The Middle East and Africa market is relatively smaller at $14.48 million in 2023, projected to grow to $41.59 million by 2033. The focus is on diversifying economies and investments in sustainable practices, particularly in South Africa and the UAE, gradually increasing the uptake of bio-based succinic acid products.Request a custom research report for industry.
Bio Based Succinic Acid Market Analysis By Source
Global Bio-based Succinic Acid Market, By Source (2023 - 2033)
The Bio-based Succinic Acid market is significantly influenced by the sources of production. In 2023, plant-based sources are expected to represent a substantial market share of $98.99 million, projected to grow to $284.32 million by 2033. Waste-based sources, currently valued at $44.01 million, are anticipated to rise to $126.41 million. Other sources contribute $19.80 million at present with future growth to $56.86 million, while synthetic sources maintain a smaller share, valued at $21.20 million in 2023 and expected to reach $60.88 million.
Bio Based Succinic Acid Market Analysis By Application
Global Bio-based Succinic Acid Market, By Application (2023 - 2033)
The applications of Bio-based Succinic Acid range widely across industries. The automotive sector is significant, currently valued at $98.99 million, and anticipated to grow to $284.32 million by 2033. Packaging remains a notable application with a market size of $82.45 million, rising to $236.81 million. Other applications such as textiles and pharmaceuticals, valued at $44.36 million and $19.45 million respectively in 2023, are also expected to see considerable growth in market share.
Bio Based Succinic Acid Market Analysis By End User
Global Bio-based Succinic Acid Market, By End-User Industry (2023 - 2033)
The end-user segment for Bio-based Succinic Acid includes diverse industries. The automotive and packaging sectors lead the market with substantial shares, but consumer goods, electronics, and textiles are showing growing shares as eco-conscious consumer trends advance. The pharmaceutical applications, currently valued at $19.45 million in 2023, are projected to maintain a steady growth trajectory through to 2033.
Bio Based Succinic Acid Market Analysis By Product
Global Bio-based Succinic Acid Market, By Product (2023 - 2033)
Different product types based on bio-based succinic acid have distinct market performances. Bio-based varieties dominate significantly, valued at $161.28 million in 2023, with an expected increase to $463.20 million by 2033. This segment emphasizes the growing acceptance of bio-based chemicals across various industries, while representing 87.65% market share highlights their dominance in this space.
Bio Based Succinic Acid Market Trends and Future Forecast
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Global Market Leaders and Top Companies in Bio Based Succinic Acid Industry
BioAmber:
BioAmber is a pioneer in the bio-based succinic acid industry, focusing on sustainable solutions utilizing renewable resources. Their products serve various sectors, including automotive and packaging.DSM:
DSM is a global leader in nutrition and materials, developing innovative bio-based products and processes, including succinic acid derived from renewable resources.Reverdia:
Reverdia is known for its innovative production techniques in bio-based succinic acid, emphasizing sustainability and providing solutions for diverse applications in various industries.Asahi Kasei Corporation:
Asahi Kasei is engaged in developing biodegradable alternatives and performance materials, including succinic acid, emphasizing both quality and sustainability in their products.We're grateful to work with incredible clients.
