Albany - NY, Dec. 05, 2017 (GLOBE NEWSWIRE) -- Players in the global bio-based succinic acid market are finding more and more interest for products derived from bio-based succinic acid, as its supply reliability is becoming apparent owing to impending production facility erections. A few companies have started seeking novel ways for bio-based succinic acid’s industrial mass production. For example, a technical breakthrough has been introduced, wherein bio-based succinic acid is produced through low pH yeast fermentation process with subsequent downstream processing by direct crystallization. This process is expected to considerably improve the environment footprint and economics of bio-based succinic acid’s production.
Key market players characterized by TMR’s report include BASF SE, BioAmber Inc., Myriant Corporation, Koninklijke DSM N.V, Corbion N.V, and Roquette Frères S.A.
Global market for bio-based succinic acid has been projected by Transparency Market Research’s new report to showcase a spectacular rise at nearly 20% CAGR during the forecast period (2017-2026). Over US$ 900 Mn revenues will be collected from global sales of bio-based succinic acid by 2026-end.
Browse Research Report Overview: https://www.transparencymarketresearch.com/bio-succinic-acid.html
Modern Biotechnology improving Economics for Bio-based Succinic Acid in Bulk Applications
Bio-based succinic acid has gained immense traction as a replacement for petroleum-based succinic acid on the back of its reduced carbon footprints and environmental benefits. Increasing concentrations in atmospheric greenhouse gases (GHG), surging volatility in oil prices and its supply security, and the necessity to construct a sustainable global economy are altogether likely to lead the transition from current world’s fossil-fuel-based economy to a bio-based economy. Development of cost-effective and highly efficient bio-refineries is a prerequisite for realizing the aim of a bio-based economy. Bio-based product manufacturers have so far tapped into specialty or high-value chemicals market, however modern biotechnology is enabling improvements in economics for bio-based building blocks such as bio-based succinic acid in bulk applications.
Get PDF Research Report Brochure: https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=865
Already sought-after in high-value applications, bio-based succinic acid is now gaining huge momentum as a key building block of commodity chemicals. There is immense potential for use of bio-based succinic acid in biotechnological production, along with several applications and derivatives that are currently supported by petrochemicals. Bio-based succinic acid is also capable of being used as a feedstock in production of biodegradable products. In addition, opportunities lie for bio-based succinic acid’s adoption for applications in detergents, pigments, surfactants, and resins. However, high initial capital investments and processing cost remain major challenges in the market. In addition, bio-based succinic acid production has lower yield, along with several byproducts that require expensive separation procedures.
Key Research Findings from TMR’s Report on Bio-based Succinic Acid Market
- 1,4 Butanediol will remain the most remunerative application of bio-based succinic acid, with sales projected to account for over two-fifth revenue share of the market by 2026-end. However, bio-based succinic acid will witness the fastest sales expansion for application in production of solvents & coatings, followed by polyester polyols.
- Personal care is expected to be the fastest expanding end-user of bio-based succinic acid, while chemical industry will remain the most lucrative end-user of bio-based succinic acid throughout the forecast period. In addition, food industry will continue to be the second largest end-user of bio-based succinic acid.
- On the basis of process type, revenues from electrodialysis process and direct crystallization process for manufacturing bio-based succinic acid will increase at a relatively higher CAGR than those from ammonium sulphate process. However, ammonium sulphate process will account for the largest revenue share of the market during 2017 to 2026.
- Although Europe dominated the global bio-based succinic acid market in 2017, North America is anticipated to become the most profitable venture bio-based succinic acid by 2026-end. Revenues from sales in these two regions are collectively projected to account for over two-third market revenue share during the forecast period.
Get Full Research Report from here: https://www.transparencymarketresearch.com/checkout.php?rep_id=35039<ype=S
About Us
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
Each TMR syndicated research report covers a different sector - such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports strive to provide clients to serve their overall research requirement.
US Office Contact
Transparency Market Research
90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: https://www.transparencymarketresearch.com