australia is witnessing an increased attention towards bio-succinic acid owing to its various applications in the automotive, textiles, and beverages industries. the demand for bio-succinic acid in the country is growing at a steady pace due to its environmental-friendly attributes and advancements in technology, which have enabled manufacturers to produce bulk quantities. bio-succinic acid offers manufacturers an economical alternative to petrochemicals due to its numerous eco-friendly properties. the low prospect of price fluctuation due to the availability of its natural sources, such as grains and sugar beet, further add to its attractiveness. this increasing demand for bio-succinic acid is driven by its wide range of applications in food, renewable energy, and chemical industries. moreover, as the demand for biodegradable and eco-friendly products increases, bio-succinic acid has found favour amongst companies in the australian market. the increasing popularity of bioplastics has further supported the growth of bio-succinic acid in australia. this acid can be used in the manufacture of materials like polyester and pef that offer an environmental-friendly and economical alternative to conventional plastics. furthermore, bio-succinic acid can also be used to manufacture performance materials, such as hydrogen storage and thermoplastic copolyesters for use in automotive interiors and textiles. these factors have provided a major boost to the australian bio-succinic acid market. the proliferation of the internet of things (iot) technology also augers well for the bio-succinic acid market in australia. bio-succinic acid can be used in the production of oled lighting that is increasingly being used in iot-enabled gadgets. this has further increased its demand in the country. moreover, government initiatives to promote the usage of bio-materials, as well as research and development projects to improve the efficiency of bio-succinic acid have have also supported its growth in the country. as such, with the extensive applications of bio-succinic acid and increasing demand for biodegradable and renewable materials, the outlook for the australian bio-succinic acid market looks promising over the forecast period (2018 to 2032).
