Plastic Recycling Market Set for Rapid Growth and Trend, by 2027

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Plastic Recycling Market

• Global Industry Analysis, Size, Share, Growth,
  Trends and Forecast, 2026

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Succinic Acid Market Overview

• In terms of value, the global succinic acid
  market is anticipated to expand at a CAGR of
  7 from 2019 to 2027. Succinic acid is widely
  used in various industries such as
  pharmaceuticals, chemical, and food.
• Currently, major proportion of succinic acid is
  derived from petroleum feedstock Increase in
  construction and infrastructure development
  activity is expected to trigger the demand for
  resin, coating, and polyurethanes, which in turn
  is expected to drive the growth of the market.
• High cost of production associated with the
  petroleum-based process is the major challenge
  facing the succinic acid market. However, the
  cost of production is expected to decline with
  the advent of bio-derived succinic acid.

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Application in Plasticizers and Polyurethanes
Drives Succinic Acid Market

• Based on application, resins, coatings, and dyes
  inks segment accounted for major share of the
  global succinic acid market in 2018.
• This can be ascribed to the application of these
  in industries such as infrastructure and
  automotive, which are expanding significantly in
  Asia Pacific.
• However, plasticizers and polyurethanes expected
  to exhibit significant growth rate during the
  forecast period.
• Elastomers, sealants, coatings, and adhesives are
  major applications driving the demand for
  polyurethanes, whereas, Plasticizers are
  primarily employed as additives in the production
  of polyvinyl chloride (PVC) making plasticizer
  highly attractive application segment

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• Petroleum derived maleic anhydride is the
  conventional feedstock material used in the
  manufacture of succinic acid.
• Price of the conventionally derived succinic acid
  is vulnerable to any ups and down in petroleum
  prices.
• Raw material price has remained a major concern
  for succinic acid manufacturers. Moreover,
  growing environmental concern among the end users
  has resulted in increasing demand for green
  products.
• To overcome these restraints, succinic acid
  manufacturers are gradually shifting towards
  development and commercialization of bio-based
  succinic acid.

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Some of the prominent vendors operating in the
global plastic recycling market 

• BASF SE,
• Anging Hexing Chemical Co.Ltd.
• Gadiv Petrochemical Industries Limited
• BioAmber, Royal DSM
• Kawasaki Kasei Chemicals
• Mitsubishi Chemical Corporation
• Mitsui Co.Ltd.
• Myriant Technologies
• Nippon Shokubai Co.Ltd
• PTT Global Chemical Public Co. Ltd
• Purac Biochem.

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