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Succinic Acid Market by Applications & Geography - Global Trends & Forecasts (2011-2016)

By: marketsandmarkets.com
Publishing Date: March 2012
Report Code: CH 1619

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Succinic acid is an important platform chemical used widely in a wide range of industries. Until recently, the commercial scale production of succinic acids was petroleum-derived. But, now it can also be produced by using renewable feedstocks. The biological route to produce succinic acids is gaining popularity as it is seen as a renewable, cost competitive, and greener alternative to the petroleum derived succinic acids. Owing to the versatility, green nature, and cost competitiveness of the bio-based succinic acids, it is expected that the bio-based product will address a much larger market than the petroleum derived succinic acid.

Succinic Acid Market study estimates the global market size by the end of 2016. Europe is the most dominant market, accounting for 35% of the overall market in 2010. Asia-Pacific is expected to be the fastest growing markets owing to significant demand from key markets such as China, Japan, and India.

We have used various secondary sources such as encyclopedia, directories, and databases to identify and collect information useful for this extensive commercial study of succinic acid. The primary sources – selected experts from related industries and selected suppliers have been interviewed to obtain and verify critical information as well as to assess the future prospects.

This market research study provides detailed qualitative and quantitative analysis of the global market. The report provides a comprehensive review of major market drivers, restraints, opportunities, winning imperatives, challenges, and key issues in the market. The market is further segmented and forecasted for major geographic regions such as North America, Europe, Asia–Pacific, and Rest of the World. Major countries with the market volume and revenue are covered for each of the region. Competitive scenario and key developments of the top players in the market has been discussed in detail. The top players of the industry are profiled in detail with their recent developments and other strategic industry activities.

Market has also been segmented on the basis of applications of succinic acids where major applications such as 1,4-Butanediol (BDO), polyurethanes, food, pharmaceuticals, etc. have been discussed in detail and a comprehensive view and forecast is provided for each category with the market volume and revenue. Market has been further segmented on the basis of applications. The report also provides a comprehensive view of the raw materials used for the production of succinic acids with major focus on bio-based succinic acids. In detail description of the potential market of bio-based succinic acid and price analysis of succinic acids is mentioned in detail in the report. The global existing production capacities and upcoming bio-based succinic acid capacities of the top suppliers have been provided in detail in the report.

We have profiled leading players of this industry with their recent developments and other strategic industry activities. Key participants in the global market include BioAmber (U.S.), DSM (The Netherlands), Roquette SA (France), Myriant Technologies (U.S.), Mitsubishi Chemicals (Japan), Anqing Hexing Chemical Co. Ltd (China), etc.

Scope of report

This market research report categorizes the global market on the basis of applications, product types and geography; forecasting volume, revenue, and analyzing trends in each of the submarkets:

On the basis of applications: The global market is segmented on the basis of end-user applications such as 1,4-Butanediol (BDO), Polyurethanes, food, pharmaceuticals and so on. Each application is further described in detail in the report with volume and revenue forecasted for each application.

On the basis of geography: North America, Europe, Asia-Pacific, and ROW and key countries in every region.

TABLE OF CONTENTS

1 INTRODUCTION
  1.1 KEY TAKE-AWAYS
  1.2 REPORT DESCRIPTION
  1.3 STAKEHOLDERS
  1.4 RESEARCH METHODOLOGY
      1.4.1 MARKET SIZE
      1.4.2 KEY DATA POINTS TAKEN FROM SECONDARY SOURCES
      1.4.3 KEY DATA POINTS TAKEN FROM PRIMARY SOURCES
      1.4.4 ASSUMPTIONS MADE FOR THIS REPORT
      1.4.5 MAJOR SECONDARY SOURCES USED
      1.4.6 LIST OF MAJOR COMPANIES COVERED DURING PRIMARIES
  1.5 KEY QUESTIONS ANSWERED
 
2 EXECUTIVE SUMMARY
 
3 SUCCINIC ACID
MARKET OVERVIEW
  3.1 INTRODUCTION
  3.2 VALUE CHAIN ANALYSIS
  3.3 WINNING IMPERATIVES
      3.3.1 DEVELOPMENT OF LOW-COST FERMENTATION PROCESSES
      3.3.2 STRATEGIC PARTNERSHIPS
  3.4 BURNING ISSUE
      3.4.1 CHALLENGES FOR COMMERCIALIZATION
  3.5 DRIVERS
      3.5.1 GROWING USE OF SUCCINIC ACID DERIVATIVES
      3.5.2 ENVIRONMENTAL SUSTAINABILITY
      3.5.3 GROWING CHINESE MARKET
      3.5.4 RISING POPULARITY OF BIO-BASED SUCCINIC ACIDS
  3.6 RESTRAINTS
      3.6.1 HIGH MANUFACTURING COST
      3.6.2 RAW MATERIAL PRICE VOLATILITY
      3.6.3 RENEWABLE CHEMICAL MARKET IS STILL IN INFANCY ALTHOUGH BEING VERY OLD MARKET
  3.7 OPPORTUNITIES
      3.7.1 GROWING NEED FOR GREEN SUBSTITUTES
      3.7.2 REPLACEMENTS FOR BUTANE-BASED MALEIC ANHYDRIDE
      3.7.3 IMPROVED BIO-REFINING PROCESS
      3.7.4 GROWING DEMAND FOR BIO-BASED BIODEGRADABLE PLASTIC
  3.8 RAW MATERIAL ANALYSIS
      3.8.1 N-BUTANE
      3.8.2 MALEIC ANHYDRIDE
      3.8.3 MAIZE
      3.8.4 WHEAT
      3.8.5 SUGARCANE
      3.8.6 TAPIOCA (CASSAVA)
  3.9 PRICE ANALYSIS
  3.10 PORTER’S FIVE FORCES ANALYSIS
       3.10.1 SUPPLIERS POWER
       3.10.2 THREAT FROM NEW ENTRANTS
       3.10.3 BUYERS POWER
       3.10.4 THREAT FROM SUBSTITUTES
       3.10.5 DEGREE OF COMPETITION
  3.11 SWOT ANALYSIS
  3.12 PATENT ANALYSIS
 
4 GLOBAL SUCCINIC ACIDS MARKET, BY APPLICATIONS
  4.1 INTRODUCTION
  4.2 GLOBAL SUCCINIC ACID MARKET, BY APPLICATIONS
      4.2.1 1,4-BUTANEDIOL (BDO) & DERIVATIVES
      4.2.2 POLYURETHANES
      4.2.3 PLASTICIZERS
      4.2.4 DE-ICER SOLUTIONS
      4.2.5 COSMETICS
      4.2.6 FOOD
      4.2.7 PHARMACEUTICALS
      4.2.8 SOLVENTS & LUBRICANTS
      4.2.9 RESINS, COATINGS, PIGMENTS, DYES & INKS
      4.2.10 OTHERS
 
5 GEOGRAPHICAL ANALYSIS
  5.1 INTRODUCTION
  5.2 NORTH AMERICA
      5.2.1 U.S.
  5.3 EUROPE
      5.3.1 GERMANY
      5.3.2 U.K.
      5.3.3 FRANCE
      5.3.4 ITALY
  5.4 ASIA-PACIFIC
      5.4.1 CHINA
      5.4.2 JAPAN
      5.4.3 INDIA
  5.5 REST OF THE WORLD
      5.5.1 BRAZIL
 
6 COMPETITIVE LANDSCAPE
  6.1 INTRODUCTION
  6.2 AGREEMENTS & COLLABORATIONS/EXPANSIONS: MOST POPULAR GROWTH STRATEGY
  6.3 MAXIMUM DEVELOPMENTS IN 2011
  6.4 BIOAMBER INC. & MYRIANT CORPORATION: THE MOST ACTIVE PARTICIPANTS
  6.5 ASIA-PACIFIC: MAXIMUM DEVELOPMENTS
 
7 COMPANY PROFILES
  7.1 ANQING HEXING CHEMICAL CO. LTD.
      7.1.1 OVERVIEW
      7.1.2 FINANCIALS
      7.1.3 PRODUCTS & SERVICES
      7.1.4 STRATEGY
      7.1.5 DEVELOPMENTS
  7.2 BASF SA
      7.2.1 OVERVIEW
      7.2.2 FINANCIALS
      7.2.3 PRODUCTS & SERVICES
      7.2.4 STRATEGY
      7.2.5 DEVELOPMENTS
  7.3 BIOAMBER INC.
      7.3.1 OVERVIEW
      7.3.2 FINANCIALS
      7.3.3 PRODUCTS & SERVICES
      7.3.4 STRATEGY
      7.3.5 DEVELOPMENTS
  7.4 DSM N.V.
      7.4.1 OVERVIEW
      7.4.2 FINANCIALS
      7.4.3 PRODUCTS & SERVICES
      7.4.4 STRATEGY
      7.4.5 DEVELOPMENTS
  7.5 GADIV PETROCHEMICAL INDUSTRIES LTD.
      7.5.1 OVERVIEW
      7.5.2 FINANCIALS
      7.5.3 PRODUCTS & SERVICES
      7.5.4 STRATEGY
  7.6 KAWASAKI KASEI CHEMICALS LTD
      7.6.1 OVERVIEW
      7.6.2 FINANCIALS
      7.6.3 PRODUCTS & SERVICES
      7.6.4 STRATEGY
  7.7 MITSUBISHI CHEMICAL CORPORATION
      7.7.1 OVERVIEW
      7.7.2 FINANCIALS
      7.7.3 PRODUCTS & SERVICES
      7.7.4 STRATEGY
      7.7.5 DEVELOPMENTS
  7.8 MITSUI & CO. LTD
      7.8.1 OVERVIEW
      7.8.2 FINANCIALS
      7.8.3 PRODUCTS & SERVICES
      7.8.4 STRATEGY
      7.8.5 DEVELOPMENTS
  7.9 MYRIANT CORPORATION
      7.9.1 OVERVIEW
      7.9.2 FINANCIALS
      7.9.3 PRODUCTS & SERVICES
      7.9.4 STRATEGY
      7.9.5 DEVELOPMENTS
  7.10 NIPPON SHOKUBAI CO. LTD
       7.10.1 OVERVIEW
       7.10.2 FINANCIALS
       7.10.3 PRODUCTS & SERVICES
       7.10.4 STRATEGY
  7.11 PTT GLOBAL CHEMICAL PUBLIC CO. LTD
       7.11.1 OVERVIEW
       7.11.2 FINANCIALS
       7.11.3 PRODUCTS & SERVICES
       7.11.4 STRATEGY
       7.11.5 DEVELOPMENTS
  7.12 PURAC
       7.12.1 OVERVIEW
       7.12.2 FINANCIALS
       7.12.3 PRODUCTS & SERVICES
       7.12.4 STRATEGY
       7.12.5 DEVELOPMENTS
  7.13 ROQUETTE FRΘRES S.A.
       7.13.1 OVERVIEW
       7.13.2 FINANCIALS
       7.13.3 PRODUCTS & SERVICES
       7.13.4 STRATEGY
       7.13.5 DEVELOPMENTS
 
APPENDIX
  U.S. PATENTS
  EUROPE PATENTS
  JAPAN PATENTS
 
 
LIST OF TABLES
 
TABLE 1 ESTIMATION OF MARKET
TABLE 2 SUCCINIC ACID MARKET VOLUME (TONS) & REVENUE ($MILLION), BY GEOGRAPHY, 2009 – 2016
TABLE 3 SUCCINIC ACIDS: INDUSTRY & MAJOR APPLICATIONS
TABLE 4 DERIVATIVES & APPLICATIONS
TABLE 5 BIO-SUCCINIC ACID: POTENTIAL MARKET
TABLE 6 MAJOR UPCOMING BIO-BASED SUCCINIC ACID CAPACITIES
TABLE 7 CRUDE OIL PRICES, BY TYPES, 2009 – 2016 ($/BARREL)
TABLE 8 PBS PLASTICS MARKET VOLUME, BY GEOGRAPHY, 2009 – 2016 (’000 TONS)
TABLE 9 N-BUTANE: BULK PRICES, 2009 – 2016 ($/GALLON)
TABLE 10 MALEIC ANHYDRIDE: BULK PRICES, 2009 – 2016 ($/TON)
TABLE 11 MAIZE: PRODUCTION (MILLION TONS) & PRICE TRENDS ($/TON), 2008 – 2010
TABLE 12 WHEAT: PRODUCTION (MILLION TONS) & PRICE TRENDS ($/TON), 2008 – 2010
TABLE 13 SUGARCANE : PRODUCTION (MILLION TONS) & PRICE TRENDS ($/TON), 2008 – 2010
TABLE 14 TAPIOCA (CASSAVA) : PRODUCTION (MILLION TONS) & PRICE TRENDS ($/TON), 2008 – 2010
TABLE 15 CURRENT SUCCINIC ACID AVERAGE PRICES
TABLE 16 SWOT ANALYSIS OF SUCCINIC ACIDS
TABLE 17 GLOBAL SUCCINIC ACID MARKET VOLUME (TONS) &  REVENUE ($MILLION), 2009 – 2016
TABLE 18 KEY DERIVATIVES OF 1,4-BUTANEDIOL
TABLE 19 1,4-BUTANEDIOL & DERIVATIVES: GLOBAL SUCCINIC ACID MARKET VOLUME (TONS) & REVENUE ($MILLION), 2009 – 2016
TABLE 20 POLYURETHANES: GLOBAL TABLE 21 PLASTICIZERS: GLOBAL SUCCINIC ACID MARKET VOLUME (TONS) & REVENUE ($MILLION), 2009 – 2016
TABLE 22 DE-ICER SOLUTIONS: GLOBAL SUCCINIC ACID MARKET VOLUME (TONS) & REVENUE ($MILLION), 2009 – 2016
TABLE 23 COSMETICS: GLOBAL SUCCINIC ACID MARKET VOLUME (TONS) & REVENUE ($MILLION), 2009 – 2016
TABLE 24 FOODS: GLOBAL MARKET VOLUME (TONS) & REVENUE ($MILLION), 2009 – 2016
TABLE 25 PHARMACEUTICALS: GLOBAL SUCCINIC ACID MARKET VOLUME (TONS) & REVENUE ($MILLION), 2009 – 2016
TABLE 26 SOLVENTS & LUBRICANTS: GLOBAL SUCCINIC ACID MARKET VOLUME (TONS) & REVENUE ($MILLION), 2009 – 2016
TABLE 27 RESINS, COATINGS, PIGMENTS, DYES & INKS: GLOBAL SUCCINIC ACID MARKET VOLUME (TONS) & REVENUE ($MILLION), 2009 – 2016
TABLE 28 OTHER APPLICATIONS: GLOBAL SUCCINIC ACID MARKET VOLUME (TONS) & REVENUE ($MILLION), 2009 – 2016
TABLE 29 NORTH AMERICA: MARKET VOLUME (TONS) & REVENUE ($MILLION), 2009 – 2016
TABLE 30 U.S: SUCCINIC ACIDS MARKET VOLUME, BY APPLICATIONS, 2009 – 2016 (TONS)
TABLE 31 U.S: MARKET REVENUE, BY APPLICATIONS, 2009 – 2016 ($MILLION)
TABLE 32 EUROPE: MARKET VOLUME (TONS) & REVENUE ($MILLION), 2009 – 2016
TABLE 33 GERMANY: SUCCINIC ACIDS MARKET VOLUME, BY APPLICATIONS, 2009 – 2016 (TONS)
TABLE 34 GERMANY: MARKET REVENUE, BY APPLICATIONS, 2009 – 2016 ($ MILLION)
TABLE 35 U.K: SUCCINIC ACID MARKET VOLUME, BY APPLICATIONS, 2009 – 2016 (TONS)
TABLE 36 U.K: MARKET REVENUE, BY APPLICATIONS, 2009 – 2016 ($MILLION)
TABLE 37 FRANCE: SUCCINIC ACIDS MARKET VOLUME, BY APPLICATIONS, 2009 – 2016 ( TONS)
TABLE 38 FRANCE: MARKET REVENUE, BY APPLICATIONS, 2009 – 2016 ($MILLION)
TABLE 39 ITALY: SUCCINIC ACID MARKET VOLUME, BY APPLICATIONS, 2009 – 2016 (TONS)
TABLE 40 ITALY: MARKET REVENUE, BY APPLICATIONS, 2009 – 2016 ($MILLION)
TABLE 41 ASIA-PACIFIC: SUCCINIC ACID MARKET VOLUME (TONS) & REVENUE ($MILLION), 2009 – 2016
TABLE 42 CHINA: SUCCINIC ACID MARKET VOLUME, BY APPLICATIONS, 2009 – 2016 (TONS)
TABLE 43 CHINA: MARKET REVENUE, BY APPLICATIONS, 2009 – 2016 ($MILLION)
TABLE 44 JAPAN: SUCCINIC ACIDS MARKET VOLUME, BY APPLICATIONS, 2009 – 2016 (TONS)
TABLE 45 JAPAN: MARKET REVENUE, BY APPLICATIONS, 2009 – 2016 ($MILLION)
TABLE 46 INDIA: SUCCINIC ACID MARKET VOLUME, BY APPLICATIONS, 2009 – 2016 (TONS)
TABLE 47 INDIA: MARKET REVENUE, BY APPLICATIONS, 2009 – 2016 ($MILLION)
TABLE 48 ROW: SUCCINIC ACID MARKET VOLUME (TONS) & REVENUE ($MILLION), 2009 – 2016
TABLE 49 BRAZIL: SUCCINIC ACID MARKET VOLUME, BY APPLICATIONS, 2009 – 2016 (TONS)
TABLE 50 BRAZIL: MARKET REVENUE, BY APPLICATIONS, 2009 – 2016 ($MILLION)
TABLE 51 MERGERS & ACQUISITIONS, 2010 – 2011
TABLE 52 NEW PRODUCT LAUNCH, 2011
TABLE 53 AGREEMENTS & COLLABORATIONS, 2009 – 2011
TABLE 54 PRODUCTION EXPANSIONS, 2009 – 2011
 
 
LIST OF FIGURES

FIGURE 1 VALUE CHAIN: PETRO-BASED PROCESS
FIGURE 2 VALUE CHAIN: BIO-BASED PROCESS
FIGURE 3 IMPACT OF MAJOR DRIVERS ON SUCCINIC ACIDS MARKET, 2010 – 2016
FIGURE 4 BIO-SUCCINIC ACID: KEY APPLICATIONS
FIGURE 5 IMPACT OF MAJOR RESTRAINTS ON SUCCINIC ACID MARKET, 2010 – 2016
FIGURE 6 IMPACT OF MAJOR OPPORTUNITIES ON SUCCINIC ACIDS MARKET, 2010 – 2016
FIGURE 7 PORTER’S FIVE FORCES
FIGURE 8 PATENT ANALYSIS, BY GEOGRAPHY, 2008 – 2011
FIGURE 9 PATENT TRENDS IN DIFFERENT GEOGRAPHY, 2008 – 2011
FIGURE 10 PATENT ANALYSIS, BY COMPANIES, 2008 – 2011
FIGURE 11 SUCCINIC ACID MARKET SHARE, BY APPLICATIONS, 2010
FIGURE 12 MARKET SHARE, BY APPLICATIONS, 2016
FIGURE 13 SUCCINIC ACID MARKET SHARE, BY GEOGRAPHY, 2010
FIGURE 14 MAJOR GROWTH STRATEGIES IN THE GLOBAL SUCCINIC ACID MARKET, 2009 –2012
FIGURE 15 DEVELOPMENTS IN THE GLOBAL SUCCINIC ACID MARKET, 2009 – 2012
FIGURE 16 GLOBAL SUCCINIC ACID MARKET: GROWTH STRATEGIES, BY COMPANIES, 2009 – 2012
FIGURE 17 GROWTH STRATEGIES, BY GEOGRAPHY, 2009 – 2012

Succinic acid is an intermediate chemical witnessing strong demand. It is a building block chemical for producing many specialty and commodity chemicals that are used in a wide range of applications such as polymers, food, metals, pharmaceutical, coatings, fibers, solvents, lubricating oils, diesel fuel oxygenates, cosmetics, etc. This platform chemical is produced through mixed-acid fermentation of carbohydrates in a process that also yields the other valuable chemicals such as lactic acid, acetic acid, formic acid, and alcohols. The yield of all these chemicals may vary according to the micro-organism and cultivation technology used. Succinic acid is used as a platform chemical in the manufacture of active pharmaceutical ingredients (APIs). It is also used as polymer intermediate in the manufacture of 1,4-butanediol (BDO) and as an analogous replacement for maleic anhydride.

The global market in terms of revenue was estimated to be worth $182.8 million in 2010 and is expected to reach $496.0 million by 2016, growing at a CAGR of 18.7% from 2011 to 2016. Europe and North America dominate the global market, together accounting for 66.0% of the global succinic acid demand in 2010. Asia-Pacific is expected to be the fastest growing market in the near future owing to the rapid advancement and increasing demand from key countries such as China and India.

The growing need for more sustainable processes, increasing environmental concerns, and reduced oil dependency are expected to drive demand for bio-succinic acids. The low cost and potential of bio-succinic acids to open up a wide array of applications such as polyurethanes, 1,4-butanediol, plasticizers, thermoplastics, etc. which is further expected to boost the bio-succinic acid market. The combination of succinic acids and 1,4-butanediol opens up a new market for green biopolymers such as polybutylene succinate (PBS) that finds end use in biodegradable packaging films and disposable cutlery. The potential of succinic acids is recognized by many countries and research institutions. For example, U.S. Department of Energy (DOE) identified succinic acids as one of the top 12 chemicals from biomass on the basis of its potential to become an important building block for producing both commodity and specialty chemicals.

Bio-based succinic acids produced from wheat or corn is a greener as well as cheaper replacement for petrochemical based succinic acids. They provide environmental advantages as it is produced from renewable feedstocks. The manufacturing process produces very less toxic waste and as it is exactly the same chemical as produced from petrochemicals; the manufacturers have no need to make improvements to build their products. Another attractive feature is that the production of bio-based succinic acids requires CO2. The anaerobic fermentation process in the production of bio-based succinic acids consumes CO2. With enormous economic and environmental potential, succinic acid is attracting attention of many big players who are focusing on this platform chemical to gain foothold in this rapidly growing market.

Succinic Acids Market Share, by Geography, 2010

Succinic Acid Market

Source: ICIS, Chemical Week Magazine, DSM, BioAmber, Purac, Primary Interviews, MarketsandMarkets Analysis

Europe dominates the global market, accounting for 35.0% of the overall consumption in 2010. North America and Asia-Pacific are the second and third largest succinic acid consuming regions, accounting for 31.0% and 28.0% of the overall market in 2010. In recent years, Asia-Pacific has registered a strong demand and the trend is expected to continue in the near future, driven by China and India. Market participants are continuously focusing on the Asia-Pacific region to gain market share and improve profitability.

Key participants in the global market include BioAmber (U.S.), DSM (The Netherlands), Roquette Frθres S.A. (France), Myriant Technologies (U.S.), Mitsubishi Chemicals (Japan), Anqing Hexing Chemical Co. Ltd. (China), etc.

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