China Bio Succinic Acid Market Growth, Trends, Analysis and Forecast – 2025
China bio succinic acid market is estimated to grow at a significant growth rate of 24.0% over the forecast period from $36.0 million in 2018. China has one of the largest economies across the globe and is known for its significant economic growth and technological advancement. The increasing demand for succinic acid derivatives from China has boosted the growth of the bio-succinic acid market in the Asia-Pacific region. During the last decade, the bio-succinic acid market in China witnessed an immersive growth due to the development of downstream industries and the improvement of production technology of succinic acid.
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The production of bio succinic acid is carried by only a handful of manufacturers including LCY Chemical Corp., Myriant Corp. (GC Innovation America), Succinity GmbH, and Reverdia.
In China, bio-succinic acid is largely being used to produce a series of derivatives, such as dimethyl succinate (DMS) and 1,4- BDO that are used for soldering flux and surfactants applications in the chemical industry. In the pharmaceutical industry, it is used as a raw material of ferrous succinate, succinimide, and N-bromosuccinimide (NBS), whereas in the food & beverage industry, succinic acid is used in the production of disodium succinate, which acts as a flavor enhancer for food. Thus, the use of bio-succinic acid for the production of various derivatives in the aforementioned industries in China is increasing the demand for bio-succinic acid in the country.
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China market of bio-succinic acid is segmented on the basis of applications and raw-materials. Bio-succinic acid has been extensively used in the chemical industry. On the basis of application, the market is further classified into chemical industry, pharmaceutical industry, food & beverage industry, and others. Chemical industry is further broadly classified into 1,4-Butanediol (BDO), plasticizers, polybutylene succinate (PBS), solvent and lubricant, and polyols. Chemical industry dominated the global bio succinic acid market in 2018 and is estimated to follow the same trend over the forecast period. This is due to large demand for bio succinic acid for the production of 1,4-BDO, PBS and other polymers. As per OMR analysis, global BDO production industry takes around 55.0% of the total bio succinic acid in terms of revenue in 2018.
Further, the growth of the market is influenced by the presence of bio succinic acid manufacturers across the globe. As of December 2017, Each of these manufacturers of bio-succinic acid has collaborations with a host of other companies on development of new technologies for the production of succinic acid and its derivatives. These market players are extending their product portfolio, increasing their R&D centres, adoption of new development strategies, and advancements in technology for gaining a competitive edge over their competitors.
China Bio Succinic Acid Market by Application
• Chemical Industry
• Pharmaceutical Industry
• Food & Beverage Industry
• Others (Cosmetic Industry)
China Bio Succinic Acid Market by Raw Material
• Others (Coffee Husk)
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