바이오 숙신산 세계 시장은 2023년 1억 2,636만 달러로 평가되었고, 2029년까지 연평균 4.43% 성장할 것으로 예상됩니다.
재생 가능한 바이오매스로부터 추출한 바이오 숙신산은 다양한 산업 분야에서 폭넓게 활용될 수 있는 매우 중요한 화합물입니다. 기존의 석유 기반 숙신산을 대체할 수 있는 가능성은 환경 친화적인 제조 공정과 지속 가능한 특성으로 인해 더욱 주목받고 있습니다. 바이오 자원을 원료로 하는 이 대체품은 동등한 성능 특성을 보이는 동시에 탄소 발자국을 줄이고 유한한 에너지 자원에 대한 의존도를 낮춥니다. 바이오플라스틱의 채택은 제약, 농업, 식음료, 화장품, 바이오플라스틱 등 생태계에 대한 배려가 제품 혁신과 소비자 선호에 큰 영향을 미치는 분야에서 증가하는 추세입니다. 바이오 숙신산은 제품 배합에서의 역할 외에도 인체 내 많은 생화학적 과정에서 중요한 역할을 합니다. 바이오 숙신산을 외용제로 사용하면 관절염으로 인한 관절의 통증과 불편함을 완화할 수 있습니다. 또한, 바이오 숙신산은 노화 징후를 완화하고 피부 흉터를 완화하는 효과도 있는 것으로 알려져 있습니다.
| 시장 개요 | |
|---|---|
| 예측 기간 | 2025-2029년 |
| 시장 규모 : 2023년 | 1억 2,636만 달러 |
| 시장 규모 : 2029년 | 1억 6,203만 달러 |
| CAGR : 2024-2029년 | 4.43% |
| 급성장 부문 | 퍼스널케어 및 화장품 |
| 최대 시장 | 유럽 |
바이오 숙신산 수요가 급증할 것으로 예상되는 배경에는 인체에 안전하고 환경 친화적인 천연 소재에 대한 관심이 높아지고 있기 때문입니다. 시장 상황은 생산, 연구개발에 종사하는 수많은 다국적 기업의 존재로 특징지어지는 치열한 경쟁으로 특징지어집니다. 다양한 제품에 대한 수요가 활발하여 세계 바이오 숙신산 시장은 크게 확대될 것으로 예상됩니다.
친환경 대체품에 대한 수요가 급증하고 있는 것은 지속가능성과 환경 관리에 대한 소비자의 선호도가 매우 중요하게 변화하고 있음을 보여줍니다. 배출 및 폐기물 관리에 대한 규제 프레임워크가 지속적으로 강화됨에 따라 산업계는 기존 화학 화합물을 대체할 수 있는 지속 가능한 대안을 모색해야 합니다. 바이오 숙신산은 동등한 성능뿐만 아니라 환경적 이점을 제공함으로써 기업과 정부의 광범위한 지속가능성 목표에 부합하는 실행 가능한 솔루션으로 부상하고 있습니다.
바이오 숙신산의 다용도성은 다양한 용도에 적용할 수 있어 시장 성장을 더욱 촉진할 수 있습니다. 제약 분야에서는 생체 적합성과 치료 특성으로 인해 의약품의 주요 성분으로 활용되고 있습니다. 농업 분야에서는 비료 및 작물 보호 제품의 성분으로 유용성을 발휘하여 환경에 미치는 영향을 최소화하면서 농업을 강화하는 데 기여합니다. 식품 및 음료 산업에서는 향료와 방부제로 사용되어 다양한 분야에서 다방면으로 활용되고 있습니다.
바이오 숙신산의 장점에 대한 인식이 높아지면서 바이오 숙신산의 직접적인 용도를 넘어 보다 광범위한 지속가능성 이야기로 확대되고 있습니다. 기업들이 친환경 제품에 대한 소비자의 요구에 부응하기 위해 노력하고, 정부가 이산화탄소 배출을 억제하기 위해 엄격한 규제를 제정하는 가운데, 숙신산과 같은 바이오 대체품은 보다 지속 가능한 미래를 만드는 데 있어 점점 더 중요한 역할을 하고 있습니다.
바이오 숙신산은 기존의 석유에서 추출한 숙신산을 대체할 수 있는 매력적인 대안으로, 환경적 이점과 함께 동등한 성능 특성을 제공합니다. 다양한 산업 분야에서 숙신산이 채택되고 있는 것은 지속가능성과 환경적 책임에 대한 광범위한 변화를 반영합니다. 천연 및 친환경 제품에 대한 소비자의 선호에 힘입어 시장 수요가 지속적으로 증가함에 따라 세계 바이오 숙신산 시장은 지속 가능한 화학 화합물의 유망한 시대를 맞이하여 크게 확대될 것으로 전망됩니다.
지속가능한 대체품에 대한 수요 증가
퍼스널케어 제품에 대한 수요 증가
비용 경쟁
기술적 한계
바이오플라스틱에 대한 중요성 증가
Global Bio-Succinic Acid Market was valued at USD 126.36 Million in 2023 and is anticipated to grow with a CAGR of 4.43% through 2029. Bio-succinic acid, derived from renewable biomass, stands as a pivotal chemical compound boasting extensive utility across various industries. Its potential to supplant conventional petroleum-derived succinic acid is gaining traction, owing to its environmentally conscious manufacturing process and sustainable characteristics. This alternative, sourced from bio-resources, showcases comparable performance attributes while concurrently reducing carbon footprints and diminishing reliance on finite energy sources. Its adoption is on the rise across sectors like pharmaceuticals, agriculture, food and beverage, cosmetics, and bioplastics, where ecological considerations profoundly influence product innovation and consumer preferences. In addition to its role in product formulations, bio-succinic acid plays a crucial role in numerous biochemical processes within the human body. When externally applied, it harbors the potential to alleviate joint pain and discomfort associated with arthritis. Bio-Succinic Acid is also acknowledged for its efficacy in reducing signs of aging and aiding in the mitigation of skin scars.
| Market Overview | |
|---|---|
| Forecast Period | 2025-2029 |
| Market Size 2023 | USD 126.36 Million |
| Market Size 2029 | USD 162.03 Million |
| CAGR 2024-2029 | 4.43% |
| Fastest Growing Segment | Personal Care and Cosmetics |
| Largest Market | Europe |
The anticipated surge in demand for bio-succinic acid stems from the escalating interest in natural products, perceived as both safe for human use and environmentally friendly. The market landscape is marked by intense competition, characterized by the presence of numerous multinational corporations engaged in production, research, and development endeavors. With a diverse array of products experiencing robust demand, the global bio-succinic acid market is poised for substantial expansion.
The burgeoning demand for eco-friendly alternatives underscores a pivotal shift in consumer preferences towards sustainability and environmental stewardship. As regulatory frameworks continue to tighten around emissions and waste management, industries are increasingly compelled to explore sustainable alternatives to conventional chemical compounds. Bio-succinic acid emerges as a viable solution, offering not only comparable performance but also environmental benefits, aligning with the broader sustainability goals of businesses and governments alike.
The versatility of bio-succinic acid renders it adaptable to a wide array of applications, further driving its market growth. In pharmaceuticals, it serves as a key ingredient in drug formulations, owing to its biocompatibility and therapeutic properties. In agriculture, it finds utility as a component in fertilizers and crop protection products, contributing to enhanced agricultural practices with minimal environmental impact. Its use in the food and beverage industry as a flavoring agent and preservative underscores its multifaceted appeal across diverse sectors.
The growing recognition of bio-succinic acid's benefits extends beyond its immediate applications, transcending into broader sustainability narratives. As businesses strive to meet consumer demands for eco-friendly products and governments enact stringent regulations to curb carbon emissions, bio-based alternatives like succinic acid are poised to play an increasingly integral role in fostering a more sustainable future.
Bio-succinic acid represents a compelling alternative to traditional petroleum-derived succinic acid, offering comparable performance characteristics alongside environmental advantages. Its increasing adoption across various industries reflects a broader shift towards sustainability and environmental responsibility. As market demand continues to escalate, fueled by consumer preferences for natural and eco-friendly products, the global bio-succinic acid market is primed for significant expansion, heralding a promising era for sustainable chemical compounds.
Key Market Drivers
Rising Demand for Sustainable Alternatives
The rising demand for sustainable alternatives serves as a significant driver for the Global Bio-Succinic Acid. As environmental concerns such as climate change, pollution, and resource depletion gain traction, there's an increasing preference for products with minimal environmental impact. Bio-succinic acid, sourced from renewable biomass, emerges as a sustainable substitute for conventional petroleum-derived succinic acid. Its production process emits fewer carbon emissions and reduces reliance on finite fossil fuels, aligning with sustainability objectives.
Many firms are actively embracing sustainability initiatives as part of their corporate social responsibility (CSR) endeavors, aiming to reduce their ecological footprint, utilize renewable resources, and promote circular economy principles. In November 2023, the NEOSUCCESS project, funded by the European Union, discovered a method to leverage biogas plants for environmental gains. Through a straightforward plug-and-play technology, these plants can now generate biomethane and bio-succinic acid (BioSA) simultaneously. Succinic acid stands as a pivotal multifunctional industrial chemical, predominantly sourced from petroleum. With this innovation, existing biogas plants can seamlessly retrofit to produce biomethane and bio-succinic acid, marking a significant step towards sustainability in industrial processes. Integrating bio-succinic acid into their offerings enables companies to showcase their sustainability commitment and appeal to environmentally conscious consumers.
The shift towards sustainability presents lucrative market prospects for bio-based chemicals like succinic acid. As industries and consumers increasingly prioritize sustainability, the demand for bio-succinic acid is projected to rise across diverse sectors, including pharmaceuticals, agriculture, food and beverage, cosmetics, and bioplastics. This offers opportunities for firms engaged in bio-succinic acid production and distribution to capitalize on the escalating market demand and expand their business endeavors.
Rising Demand for Personal Care Products
There's a rising consumer preference for personal care items containing natural and organic components. Bio-succinic acid, sourced from renewable biomass, fits well into this trend as it's perceived as a natural substitute for synthetic chemicals commonly found in personal care products. It's authorized by Ecocert, non-GMO, and derived entirely from renewable vegetable sources, making it a safe, sustainable, and versatile alternative to other commonly used acids like salicylic acid in cosmetics. This novel, natural ingredient offers specific benefits such as antimicrobial, anti-acne, anti-psoriasis, antioxidant, and slimming properties, enabling the creation of a wide range of cosmetics and toiletries including body washes, shower gels, scrubs, exfoliation products, shampoos, and soaps with antimicrobial qualities, among others.
Succinic acid is associated with various cosmetic advantages, such as stimulating mitochondrial respiration, acting as an antioxidant, and exhibiting significant antimicrobial activity against acne-causing microorganisms. Additionally, it serves as an excellent pH modifier due to its high-water solubility. Succinate esters like heptyl succinate or iso-octyl succinate are commonly utilized in cosmetics as emollients, further enhancing the effectiveness and quality of personal care formulations.
In the competitive personal care market, manufacturers are constantly searching for innovative ingredients to set their products apart. Integrating bio-succinic acid into personal care formulations enables companies to offer distinctive and environmentally friendly products that appeal to eco-conscious consumers, thereby gaining a competitive advantage. Biologically produced succinic acid is increasingly favored as petroleum prices fluctuate, and commercial decisions increasingly prioritize environmental concerns alongside pricing considerations. The growing demand for personal care products is driving the need for bio-succinic acid as a crucial ingredient in formulations, contributing to the expansion of the Global Bio-Succinic Acid Market.
Key Market Challenges
Cost Competitiveness
Technological Cost competitiveness poses a significant challenge for the Global Bio-Succinic Acid Market. Bio-succinic acid directly competes with petroleum-based succinic acid and other petrochemical alternatives. Petrochemicals often enjoy advantages such as established infrastructure, lower production costs, and economies of scale, which can make it difficult for bio-succinic acid to compete solely on price. In markets where price sensitivity is high, this competitive pricing pressure can constrain the market share and growth prospects of bio-succinic acid.
The availability and price fluctuations of feedstock, such as biomass or agricultural residues, used in bio-succinic acid production, can impact overall production costs. Variations in feedstock prices, disruptions in the supply chain, and competition from other industries can introduce uncertainty and instability in the cost of bio-succinic acid production.
Despite advancements in biotechnology that have enhanced efficiency, these processes are costlier compared to conventional methods employed in petroleum-based succinic acid production. Elevated production costs can hinder the competitiveness of bio-succinic acid, particularly in price-sensitive markets.
Technological Limitations
Despite advancements in biotechnology enhancing the efficiency of bio-succinic acid production, challenges persist in optimizing fermentation processes and increasing yield. Achieving high yields of bio-succinic acid while ensuring cost-effectiveness and minimizing production time remains a technological hurdle.
Scaling up production from laboratory or pilot-scale to commercial-scale operations poses significant technological challenges. Factors like process scalability, equipment design, and process control must be carefully optimized to ensure consistent and reliable bio-succinic acid production at larger volumes. Maintaining stringent purity and quality standards is imperative for bio-succinic acid acceptance in various industries, notably pharmaceuticals and food. Technological limitations in purification and quality control processes can impact the purity, consistency, and performance of bio-succinic acid, constraining its market potential.
Continuous technological innovation is essential to enhance resource efficiency in bio-succinic acid production, including reducing water and energy consumption, minimizing waste generation, and optimizing raw material utilization. Improving resource efficiency not only cuts production costs but also bolsters the environmental sustainability of bio-succinic acid production.
Key Market Trends
Growing Emphasis on Bioplastics
Increasing concerns about plastic pollution and the pursuit of sustainability objectives have resulted in a notable increase in the demand for bioplastics. Bio-succinic acid plays a crucial role as a primary component in the manufacturing of biodegradable and compostable plastics, thereby fueling its demand within this industry segment. Bioplastics, derived from bio-succinic acid, are increasingly gaining favor as eco-friendly alternatives to conventional plastics. Bio-succinic acid plays a pivotal role as a fundamental component in various bioplastic materials like PBS, PBAT, and PBSA. The rising demand for bioplastics is driving the need for bio-succinic acid as an essential raw material.
Bioplastics offer the opportunity to decrease carbon dioxide emissions by a minimum of 30%, if not more, and their adoption can result in a 42% reduction in carbon footprints. Additionally, the production of bioplastics consumes 65% less energy compared to conventional petroleum-based plastics. Regulatory initiatives targeting plastic waste reduction and environmental sustainability, coupled with growing consumer consciousness, are propelling the adoption of bioplastics. Businesses face mounting pressure to align with sustainability objectives and meet consumer preferences for green products. There is a growing interest in procuring renewable and biodegradable inputs like bio-succinic acid for bioplastic manufacturing.
Collaboration among stakeholders along the bioplastics value chain, including bio-succinic acid suppliers, bioplastic producers, brands, and research entities, fosters innovation and stimulates market expansion. BioAmber Inc. and South Korean-based CJ CheilJedang Corporation (CJCJ) have entered a non-binding letter of intent to establish a joint venture focused on producing bio-succinic acid. The plan involves retrofitting an existing CJCJ fermentation facility in China with BioAmber's succinic acid technology, requiring minimal capital investment. These partnerships facilitate the enhancements in production techniques, and the broadening of market penetration, thereby spurring demand for bio-succinic acid as a vital ingredient.
Segmental Insights
Application Insights
Based on application, the 1,4-butanediol (BDO) segment emerged as the dominant segment in the global market for Bio-Succinic Acid in 2023. This can be attributed to the strong demand for products like polyurethane, tetrahydrofuran, and polybutylene, among others. The utilization of 1,4-butanediol (BDO) extends across various sectors, from major polymer manufacturing to its role in the production of plastics. Key polymers such as polyurethanes, polyethers, and polyesters rely on BDO as a crucial component in their manufacturing processes. Particularly noteworthy is BDO's significant contribution to the production of polybutylene terephthalate (PBT) and tetrahydrofuran (THF) resins used in plastic engineering applications. The rising demand for BDO and its derivatives, including THF, is anticipated to drive the demand for bio-succinic acid, fostering robust market growth.
Regulatory measures promoting the adoption of renewable and sustainable chemicals, coupled with mandates aimed at reducing carbon emissions and environmental impact, create an enabling environment for the expansion of bio-based chemicals like BDO. Canada's government announced a USD 1 Million investment in compostable bioplastics in February 2024. The global implementation of single-use plastic bans also serves as a driving force for bioplastics production, including BDO. Government incentives and policies supporting the uptake of bio-based materials further encourage investment and innovation in the bio-succinic acid market.
End User Insights
Based on end user, the food and beverages segment emerged as the dominant in the global market for Bio-Succinic acid in 2023. Bio-succinic acid plays a significant role in the food and beverage sector, serving as both a flavor enhancer and a stabilizing agent for pH levels and preservation. Its utilization contributes to improving the sensory qualities, longevity, and overall quality of a wide array of food and beverage items. As consumer preferences lean towards natural and organic ingredients in this sector, bio-succinic acid, sourced from renewable materials like biomass, aligns well with this trend, offering a viable substitute for synthetic additives.
Bio-succinic acid regulatory approval for food and beverage applications underscores its safety and suitability for consumption. With sustainability emerging as a paramount concern across industries, including food and beverages, bio-succinic acid presents an eco-friendly alternative to traditional petroleum-derived succinic acid, thereby lessening dependence on non-renewable resources and mitigating environmental impact.
Regional Insights
Based on Region, Europe emerged as the dominant region in the Global Bio-Succinic Acid Market in 2023, holding the largest market share. The growth in the European market is fueled by a surge in demand for eco-conscious construction practices in the area. Factors such as escalating carbon emissions, a growing inclination towards utilizing locally sourced materials, and the volatility in fossil fuel prices are pivotal drivers of market expansion in Europe. Additionally, Europe benefits from a robust biotechnology sector, renowned for its proficiency in fermentation techniques crucial for bio-succinic acid production. This established infrastructure has expedited the commercialization and scaling up of bio-succinic acid manufacturing within the region.
BASF SE
Roquette Freres SA
Koninklijke DSM N.V.
BioAmber Inc.
Myriant Corporation
Kawasaki Kasei Chemicals Ltd
Mitsui & Co., Ltd
Corbion N.V.
Nippon Shokubai Co., Ltd.
Mitsubishi Chemical Group Corporation
In this report, the Global Bio-Succinic Acid Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
Company Profiles: Detailed analysis of the major companies presents in the Global Bio-Succinic Acid Market.
Global Bio-Succinic Acid Market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:
Detailed analysis and profiling of additional market players (up to five).