LONDON--(BUSINESS WIRE)--The global bio-succinic acid market to register an incremental growth of USD 1.67 billion, witnessing a CAGR of about 25% during 2020-2024, according to the latest market research analysis by Technavio. The report offers a detailed analysis of the impact of COVID-19 pandemic on the bio-succinic acid market in optimistic, probable, and pessimistic forecast scenarios.
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The bio-succinic acid market will witness a Neutral and At par impact during the forecast period owing to the extensive rise of COVID-19 pandemic. Furthermore, as per Technavio’s pandemic-focused research highlights, the market growth is likely to Increase compared to 2019.
Bio-succinic Acid Market 2020-2024: Vendor Analysis
The market is concentrated. Key players in the market have been launching several initiatives and introducing innovative products and services to cater to a larger target audience during the pandemic. With a rapidly shifting focus toward creating a digital marketplace to provide a convenient platform for stakeholders in the supply chain, several companies in the market are resorting to move their businesses online along with existing brick-and-mortar channels.
Major Bio-succinic Acid market participants are
- BASF SE
- Koninklijke DSM NV
- LCY Chemical Corp.
- Mitsubishi Chemical Holdings Corp.
- Mitsui & Co. Ltd.
- PTT Global Chemical Public Co. Ltd.
- Roquette Freres SA
- Shandong LanDian Biological Technology Co. Ltd.
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Bio-succinic Acid Market 2020-2024: Segmentation
Bio-succinic Acid Market is segmented as below:
-
Application
- BDO
- Polyester polyols
- Plasticizers
- Alkyd resins
- Others
BDO segment will account for the largest share as they are widely used as a replacement for adipic acid in BDO production.
-
Geography
- APAC
- Europe
- North America
- South America
- MEA
Europe region will account for the highest incremental growth during the forecast period due to the growth of the construction, F&B, chemicals, agriculture, and pharmaceutical industries.
The bio-succinic acid market is driven by volatility in crude oil prices and increasing use of bio-succinic acid in 1,4-butanediol (BDO) production, as per Technavio’s pandemic impact-focused research study. Furthermore, Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, and significant developments in vendor operations and government regulations in the Materials industry.
For gaining more insights about the impact of COVID-19 pandemic on related reports, check out Technavio’s Materials section
Key Considerations for Market Forecast:
- Impact of lockdowns, supply chain disruptions, demand destruction, and change in customer behavior
- Optimistic, probable, and pessimistic scenarios for all markets as the impact of pandemic unfolds
- Pre- as well as post-COVID-19 market estimates
- Quarterly impact analysis and updates on market estimates
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Table of Contents:
Executive Summary
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Application
- Market segments
- Comparison by Application
- BDO - Market size and forecast 2019-2024
- Polyester polyols - Market size and forecast 2019-2024
- Plasticizers - Market size and forecast 2019-2024
- Alkyd resins - Market size and forecast 2019-2024
- Others - Market size and forecast 2019-2024
- Market opportunity by Application
Customer landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- Europe - Market size and forecast 2019-2024
- North America - Market size and forecast 2019-2024
- APAC - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Vendor landscape
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- BASF SE
- Koninklijke DSM NV
- LCY Chemical Corp.
- Mitsubishi Chemical Holdings Corp.
- Mitsui & Co. Ltd.
- PTT Global Chemical Public Co. Ltd.
- Roquette Freres SA
- Shandong LanDian Biological Technology Co. Ltd.
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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