London, 09 October 2014: TechNavio, the independent tech-focused global research firm, has published a report on the Global Bio-succinic Acid Market 2014-2018, which is expected to grow at a CAGR of 49.80 percent during 2013-2018.
“Bio-succinic acid is used in a wide variety of plastic products such as plasticizers, polyesters, and polyols. The increased shift toward bio-based products in the coming future is likely to be a major boost in the Global Bio-succinic Acid market,” says Faisal Ghaus, Vice President of TechNavio.
“Companies such as PTT-MCC Biochem have entered into joint ventures to develop and produce PBS, a biodegradable plastic made from bio-succinic acid.”
Key Market Drivers
- High Cost of Crude Oil
- Reduced Carbon Emission
- Increase in Government Awareness and Support
- Increased Demand for Bio-based Chemicals
Key Market Trends
- Investments and Expansions
- Attractive Replacements for Maleic Anhydride
- Increased Demand for Biodegradable Plastics
Key Market Vendors
- BASF SE
- BioAmber Inc.
- Myriant Inc.
- Reverdia
To define the market circumstances in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
