Bio-Based Succinic acid: Does it hold any future in global polymer market?

Bio-based succinic acid is produced from maleic acid and n-butanol. Being biodegradable and water-soluble has increased its demand in the global market, consequently affecting the prices of Succinic acid. Constantly rising crude oil prices because of the streaming war between Russia and Ukraine have impacted benzene's downstream product. Benzene is one of the raw materials required during the manufacturing of Succinic acid; hence, any variations in benzene prices along with Maleic acid will take hold of the prices of Succinic acid.

Common polymers with huge demand and ill effects on the environment have forced the government to bring out an alternative to protect the environment from harmful chemicals. Succinic acid is also present naturally in materials such as broccoli, sugar beets, cheese, and others. Increasing demand from cosmetics, personal and healthcare and pharmaceutical sectors have pressurized the manufacturers to increase the production of succinic acid. Succinic acid is used as an inactive ingredient and is an acid neutralizer to strengthen immunity. These applications did not hamper the production rate of Succinic acid even during Covid infection worldwide. Moreover, floor coating sectors have flourished in different regions with rapid urbanization and construction work.

Furthermore, bio-based succinic acid is used to make polyvinyl chloride (PVC) plasticizers. Plasticizers are materials added to make the substance softer and more flexible. These plasticizers can replace the non-biodegradable and toxic plasticizers and showcase better resistance and sustainability. PVC in its downstream sectors have massive demand in pipes, wire insulation and more. These strong offtakes have forced the manufacturers to increase the production, indirectly affected by the hiked prices of upstream elements. These facets will impact the market sentiments of Succinic acid in the global market.

As per ChemAnalyst, the market sentiments of Succinic acid will follow the upward trajectory in the upcoming weeks owing to the fuelled prices of crude oil and other raw materials required, such as maleic acid and n-Butanol. In addition to this. Succinic acid applications in paints, food and beverages will govern the market sentiments in the upcoming weeks.