European Bio Succinic Acid Market Trends, Size, Forecast - 2019-2025

The European bio succinic acid market is estimated to grow at a significant growth rate of 23.0% over the forecast period from $65.0 million in 2018. Major economies contributing to the market in Europe include UK, Germany, France, Spain and Italy among various others. The key reason which is promoting the growth of the bio-succinic acid market includes the established chemical sector in the region which is promoting the increase in demand for bio-succinic acid for various applications including cosmetic, pharma as well as food and beverage industry.

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As per the European Chemical Industry Council (CEFIC), Europe is the second-largest producer of chemicals across the globe. According to CEFIC, the BRIC countries (Brazil, Russia, India, and China) accounted for 42.8% of global chemical sales in 2018. Nearly three-quarters of global chemical sales were attributable to BRIC, the EU along with the US in 2018. Thus, the rising chemical industry is expected to provide ample opportunities and in turn, enhance the growth of the market in the region. Moreover, food and beverages, pharma and other applications are expected to create significant opportunities for the growth of the market in the future years, thereby promoting the growth of the market during the forecast period.

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European Bio Succinic Acid Market Segmentation

By Application

• Chemical Industry
• Pharmaceutical Industry
• Food & Beverage Industry
• Others (Cosmetic Industry)

By Raw Material

• Corn
• Sugarcane
• Cassava
• Others (Coffee Husk)

Regional Analysis

• UK
• Germany
• France
• Italy
• Spain
• Rest of Europe

Company Profiles

• Anqing Hexing Chemical Co., Ltd.
• BASF SE
• Corbion N.V.
• Jin Hui Zhao Long High-Tech Co., Ltd.
• LCY Chemical Corp.
• Merck KGaA
• Mitsubishi Chemical Corp.
• Reverdia V.O.F.
• Roquette Freres SA
• Shandong Landian Biological Technology Co., Ltd.

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Orion Market Research (OMR) is a market research company that endeavors to provide exclusive blend of qualitative and quantitative market research reports to global clients.