The UK bio succinic acid market is estimated to grow at a significant growth rate of 26.0% over the forecast period from $15.0 million in 2018. UK is one of the major market players acting in the European bio-succinic acid market. The country is significantly operating in the field of food and beverages, pharmaceutical, material and additive manufacturing, cosmetic among others. A majority of the key players operating in the country are small to medium-sized companies in the plastic industry. According to the International Trade Association, around 7% of the manufacturing activities in the country account for the plastic industry each year. More than 6,200 firms are engaged in the plastic field in the country. It includes producers of plastics raw materials, and additives, and end-user industry. The growing trend of shifting towards the use of bioplastics is flourishing the market growth during the forecast period.
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The UK 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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A full Report of UK Bio Succinic Acid Market is Available at: https://www.omrglobal.com/industry-reports/uk-bio-succinic-acid-market
UK 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)
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