U.S. Bio-succinic Acid Market Outlook (2018 to 2032)
The above chart is U.S. Bio-succinic Acid Market Outlook (2018 to 2032)
bio-succinic acid is a bio-based organic acid produced through fermentation of naturally available renewable sources such as corn, wheat, and sugarcane. the acid is used in the production of polyamides, polyesters, and polyurethanes. it is also used as a biodegradable plasticizer and a dicarboxylic acid component for lactic and citric acids in food and beverage products. the demand for biobased succinic acid in the u.s. has been on a steady rise over the past few years due to its ability to reduce carbon dioxideemissions and its positive environmental impact. the demand is mainly driven by the growing consumer preference towards green and sustainable products. demand in the automotive industry is also rising rapidly, due to the strong adoption of biobased chemicals in the manufacturing and production processes in the u.s. the use of bio-succinic acid in personal care and cosmetics products has also grown considerably, due to its natural moisturizing and emollient properties. furthermore, the acid is also being increasingly used as a preservative and pharmaceutical additive. the increasing focus on healthcare has led to the rising use of bio-succinic acid in healthcare products. the increasing demand in various industries is likely to drive the growth of bio-succinic acid in the u.s. market over the forecast period (2018-2032). government initiatives in the form of subsidies and tax credits will further strengthen the demand for bio-succinic acid in the u.s. in terms of supply, the u.s. has a number of domestic manufacturers producing bio-succinic acid from renewable resources. the u.s. department of energyhas also funded the development of advanced fermentation technology for the production of bio-succinic acid. this will help lower the production cost of the acid, making it a cost-effective feedstock for bio-based chemicals. in conclusion, recent developments in the biobased chemicals industry is likely to drive the demand for bio-succinic acid in the u.s. market. with advancements in technology, it is expected that the production cost of the acid will decrease and the demand will increase in the forecast period.
