Canada Bio Succinic Acid Market Growth, Size, Share, Industry Report and Forecast 2019-2025

The Canada bio succinic acid market is estimated to grow at a significant growth rate of 18.0% over the forecast period from $55.0 million in 2018. Canada is another major economy in North America and is the 2nd largest economy in the region. Due to the growing chemical, pharmaceutical, polybutylene succinate (PBS) and food packaging industry, demand for bio-succinic acid and other plastics has increased Canada’s share substantially. Bio-succinic acid is one of the significant constituents of the plastic industry. As per the Canadian Plastic Industry Association, in 2016 there are more than 2,600 plastic industries in Canada. The country has generated shipments valued at $18.5 billion and employing 82,000 people. Based on resin consumption, the country represents 2% of total plastic consumption. Some key firms in the plastic industry in the country include Magna International, Winpak Ltd, and ABC Group Inc.

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The Canada market of bio-succinic acid is segmented on the basis of applications and raw-materials. Bio-succinic acid has been extensively used in the chemical industry. On the basis of application, the market is further classified into chemical industry, pharmaceutical industry, food & beverage industry, and others. Chemical industry is further broadly classified into 1,4-Butanediol (BDO), plasticizers, polybutylene succinate (PBS), solvent and lubricant, and polyols. Chemical industry dominated the global bio succinic acid market in 2018 and is estimated to follow the same trend over the forecast period. This is due to large demand for bio succinic acid for the production of 1,4-BDO, PBS and other polymers. As per OMR analysis, global BDO production industry takes around 55.0% of the total bio succinic acid in terms of revenue in 2018.

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Canada Bio Succinic Acid Market Segmentation

By Application 

·         Chemical Industry

·         Pharmaceutical Industry

·         Food & Beverage Industry

·         Others (Cosmetic Industry)

By Raw Material

·         Corn

·         Sugarcane

·         Cassava

·         Others (Coffee Husk)

Company Profiles

·         Anqing Hexing Chemical Co., Ltd.

·         BASF SE

·         Corbion N.V.

·         Jin Hui Zhao Long High-Tech Co., Ltd.

·         LCY Chemical Corp.

·         Merck KGaA

·         Mitsubishi Chemical Corp.

·         Reverdia V.O.F.

·         Roquette Freres SA

·         Shandong Landian Biological Technology Co., Ltd.

·         Succinity GmbH

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1.  We cover more than 15 major industries, further segmented into more than 90 sectors.

2.  More than 120 countries are for analysis.

3.  Over 100+ paid data sources mined for investigation.

4.  Our expert research analysts answer all your questions before and after purchasing your report.

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About Orion Market Research 

Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services.

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