Sweden Bio-succinic Acid Market Outlook

sweden’s bio-succinic acid market is fueled by the increasing demand for renewable and sustainable feedstock. driven by increasing consumer awareness and rising consumer demand for biobased products, bio-succinic acid is increasingly being used to replace petroleum-based and mineral-based chemicals. the swedish government is also supportive of the development of bio-succinic acid. it aims to promote green industrial solutions and development of green industrial chemicals. the european union’s renewable energy directive, which mandates an increase in the share of renewable energy sources in the eu’s energy mix, will also drive the growth of the swedish bio-succinic acid market. the directive requires that by 2030, the eu’s energy mix should contain at least 32 percent of renewable energy sources. in addition, the lanning process of establishing a sustainable and vibrant bioeconomy has also supported the growth of the swedish bio-succinic acid market. swedish companies are investing in production capacity, research and development and marketing activities to capture the growing opportunity in bio-succinic acid. several swedish companies such as perstorp, basf, bioamber, biosolar and ge bioproducts are actively developing and producing bio-succinic acid. in addition, sabic is also planning to open its polymers production in sweden in 2020, which is projected to further increase the demand for the swedish bio-succinic acid market in the near future. in order to tap the growing demand for bio-based chemicals, sweden will require significant investment in production capacity, research and development activities. this could include research into more efficient production methods, new applications for bio-succinic acid and market development strategies to create more demand and awareness. stockholm university, one of the leading research institutes in sweden, is already investing heavily in the field of bio-based chemicals. in addition, government incentives and subsidies for developing greener production methods and energy are important for the growth of the swedish bio-succinic acid market. in order to ensure the future growth and sustainability of the swedish bio-succinic acid market, there is a need for further r&d investment, supportive government policies and initiatives to create awareness of the bio-based product. swedish companies should also develop strategic partnerships to collaborate on technological development and expand their production capacity.