Japan Bio Succinic Acid Market Trends, Size, Competitive Analysis and Forecast - 2019-2025

Japan bio succinic acid market is estimated to grow at a significant growth rate of 23.0% over the forecast period from $25.0 million in 2018. Japan is one of the key economies of the Asia-Pacific region. It is also estimated to share significantly towards the growth of the bio-succinic acid market in the Asia-Pacific over the forecast period. Major factors that are augmenting the growth of the market include growing chemical, pharmaceutical, polybutylene succinate (PBS) and food packaging industry, demand for bio-succinic acid and other plastics has increased Japan substantially. Furthermore, the growing food & beverage industry in the nation is also augmenting the demand for biodegradable food packaging materials such as PBS. According to the USDA Foreign Agricultural Service, the food processing industry in Japan has generated $216 billion in food & beverage products in 2016.

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Additionally, applications for petroleum-based succinic acid, which is conventionally manufactured by hydrogenation of maleic anhydride (MA), has been limited to pharmaceuticals, food ingredients and specialty chemicals due to their inefficiency and costliness of its processing. Moreover, the current market size for petroleum-based succinic acid is around 38,000 tons/year and most are produced in Japan and China. Current Japanese producers include Mitsubishi Chemical, Kawasaki Kasei Chemical, and Nippon Shokubai.

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Japan 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, 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. 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.

Italy 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)

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.
• Succinity GmbH

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Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized