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.
To Request a Sample of our Report on Canada Bio Succinic Acid Market: https://www.omrglobal.com/request-sample/canada-bio-succinic-acid-market-share
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.
(Get 15% Discount on Buying this Report)
A full Report of Canada Bio Succinic Acid Market is Available at: https://www.omrglobal.com/industry-reports/canada-bio-succinic-acid-market-share
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)
(This release has been published on Global Market Post. Global Market Post is not responsible for any content included in this release.)
