According to the latest research report from Global Industry Analysis (GIA), by 2015, the global succinic acid market will reach 144,700 tons. Among them, the development of polyols and polyurethanes will allow the bio-based succinic acid market to grow substantially.
As low-carbon policies and regulations gradually bring pressure to the chemical industry and the demand for green chemicals becomes stronger, bio-based succinic acid will grow strongly as an environmentally friendly material. At the same time, the demand for succinic acid in products such as BDO is gradually increasing. GIA said that it is expected that the global market for succinic acid (including petroleum-based and bio-based) will grow at an overall rate of 25.3% annually.
The research report also specifically pointed out that in the industrial chain of polyurethanes and polyols, the gradual increase in the demand for succinic acid, such as BDO, may also bring about substantial growth in the succinic acid market.
Succinic acid, also known as succinic acid, can be used as a starting material for the synthesis of polyurethanes, such as butanediol (BDO), tetrahydrofuran and the like, and can also be used for the synthesis of biodegradable biopolymers, such as polyamides. At the same time it can also be used as surfactants, detergents, additives and foaming agents.