Transparency Market Research Report Added "Bio-Succinic Acid Market" to its database.
Albany, NY -- (SBWIRE) -- 06/23/2015 -- Bio-succinic acid is derived from plant and animal tissue and acts as a substitute for petroleum based succinic acid. It can also be a substitute for maleic anhydride used in the production of several commodity chemicals such as 1, 4-butanediol (BDO). The application areas of Bio-succinic acid include bio-plastics, resins, surfactants, coatings, lycra fiber, bio-polymers and pharmaceuticals.
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The possible applications areas of bio-succinic acid are polyurethanes, chemical intermediates bioplastics, solvents, and plasticizers. It is anticipated that the demand for bio-succinic acid will grow strongly in these application areas from 2012 to 2018. Use of genetically engineered bacterial strains for the production of bio-succinic acid is considered an economically attractive and eco-friendly alternative compared to petrochemicals. The market is expected to grow at a double digit rate from 2012 to 2018.
Increase in the popularity of bio-based and renewable chemicals is driving chemical companies to invest in the development and expansion of existing production facilities for bio-based succinic acid. Cost competitiveness of bio-succinic acid compared to petrochemical based succinic acid will fuel the demand for bio-succinic acid. The growing demand for biodegradable plastic is expected to drive the demand for bio-succinic acid.
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The growing need for green substitutes, replacement of butane based maleic anhydride, and improvement in bio-refining processes are some of the opportunities for the growth of the bio-succinic acid market. Still there are a number of factors impacting succinic acid manufacturers which they need to overcome in pursuing the commercial benefits of bio-succinic acid. Moreover, the production of bio-succinic acid results into significant byproducts with a lower yield, which usually require costly separation and utilize feedstocks that compete with the food supply.
Presently many chemical companies such as BASF and Purac, DSM and France's Roquette Frères, Myriant, BASF and CSM, BioAmber and Mitsui, Mitsubishi, Ajinomoto, Reverdia are entering into partnerships, mergers, and acquisitions so as to enter into the bio-succinic market .Commercially viable embryonic bio-succinic acid technologies are attracting partnership and investments from the major players in the plastics industry.
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Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR's global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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