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WP8 1 Determination of Market Potential for Selected Platform Chemicals Report

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WP8 1 Determination of Market Potential for Selected Platform Chemicals Report WP 8.1. Determination of market potential for selected platform chemicals Itaconic acid, Succinic acid, 2,5-Furandicarboxylic acid weastra, s.r.o. Funded by the 7th Framework Programme of the European Union, FP7 – Knowledge based Bio- Economy, Collaborative Project, Grant agreement number: 289194, KBBE.2011.3.4-02 – Towards a sustainable bio- industry – Biotechnology for renewable chemicals and innovative downstream processes. www.bioconsept.eu west|east|transfer www.weastra.com www.weastra.com TABLE OF CONTENTS INTRODUCTION ............................................................................................................................................. 11! Report description and background ..................................................................................................... 11! Market research methodology ............................................................................................................. 12! Major secondary market research sources ........................................................................................ 15! Primary market research sources ......................................................................................................... 18! Copyright and Disclaimer ..................................................................................................................... 20! EXECUTIVE SUMMARY ................................................................................................................................ 21! Itaconic acid .............................................................................................................................................. 21! Succinic acid .............................................................................................................................................. 23! 2,5 – Furandicarboxylic acid ................................................................................................................. 26! ITACONIC ACID .................................................................................................. 29! 1.! INTRODUCTION ..................................................................................................................................... 30! 2.! VALUE CHAIN .......................................................................................................................................... 31! 3.! GLOBAL MARKET OF ITACONIC ACID ............................................................................................. 33! 4.! ADDRESSABLE MARKET OF ITACONIC ACID ................................................................................ 36! Acrylic acid ................................................................................................................................................ 37! Acetone cyanohydrin ............................................................................................................................. 38! Maleic anhydride ..................................................................................................................................... 38! Sodium tripolyphosphate ..................................................................................................................... 39! 5.! PRODUCTION CAPACITIES OF BIO-BASED ITACONIC ACID .................................................... 41! 6.! PROJECTED MARKET OF ITACONIC ACID BY APPLICATIONS .................................................. 43! New markets for bio-based itaconic acid .......................................................................................... 46! Existing markets for bio-based itaconic acid ..................................................................................... 55! 7.! Top players in the field of itaconic acid production, research and end use applications ....... 59! DSM NETHERLANDS .............................................................................................................................. 59! ITACONIX CORPORATION .................................................................................................................. 60! LUCITE INTERNATIONAL GROUP LTD. ............................................................................................ 62! Qingdao Kehai Biochemistry Co., Ltd ................................................................................................ 64! Zhejiang Guoguang Biochemistry Co.,Ltd. ........................................................................................ 65! 2 west|east|transfer www.weastra.com www.weastra.com ALPHA CHEMIKA ................................................................................................................................... 66! JINAN HUAMING BIOCHEMISTRY CO.,LTD. .................................................................................. 67! QINGDAO ABEL TECHNOLOGY CO., LTD. ..................................................................................... 68! RONAS CHEMICALS IND. CO., LTD. ................................................................................................. 69! SHANDONG KAISON BIOCHEMICAL CO., LTD. ........................................................................... 70! FUSO CHEMICAL .................................................................................................................................... 71! HIGH HOPE INT'L GROUP JIANGSU NATIVE PRODUCE IMP & EXP CORP. LTD. ................. 73! ZHEJIANG KEDAO CHEMICALS CO., LTD. - SUBORDINATE TO ZHEJIANG GUOGUANG S&T GROUP ............................................................................................................................................................ 74! TAIYUAN PALORT CHEMICAL CO. .................................................................................................... 75! CHENGDU JINKAI BIOLOGY ENGINEERING CO., LTD., CHINA ............................................... 76! TOKYO CHEMICAL INDUSTRY CO., LTD .......................................................................................... 77! LOBA CHEMIE ......................................................................................................................................... 78! SUCCINIC ACID .................................................................................................. 79! 1.! INTRODUCTION ..................................................................................................................................... 80! 2.! VALUE CHAIN .......................................................................................................................................... 81! 3.! GLOBAL MARKET OF SUCCINIC ACID ............................................................................................. 83! 4.! ADDRESSABLE MARKET OF BIO-BASED SUCCINIC ACID .......................................................... 87! Maleic anhydride ..................................................................................................................................... 88! Adipic acid ................................................................................................................................................ 89! Phthalic anhydride .................................................................................................................................. 90! 5.! GROWING CAPACITIES OF BIO-BASED SUCCINIC ACID ........................................................... 91! 6.! MARKET MECHANISM .......................................................................................................................... 96! 7.! PROJECTED MARKET OF BIO-BASED SUCCINIC ACID BY APPLICATIONS ........................... 99! New market for bio-based succinic acid .......................................................................................... 102! Existing market for bio-based succinic acid ................................................................................... 109! 8.! Top players in the field of succinic acid production, research and end use applications ..... 114! BIOAMBER .............................................................................................................................................. 114! MYRIANT ................................................................................................................................................. 118! SUCCINITY (BASF SA – PURAC) ........................................................................................................ 122! REVERDIA (DSM – ROQUETTE) ......................................................................................................... 126! 3 west|east|transfer www.weastra.com www.weastra.com MITSUI & CO. LTD ................................................................................................................................. 130! GADIV PETROCHEMICAL INDUSTRIES ISRAEL ............................................................................ 132! MITSUBISHI CHEMICAL JAPAN ........................................................................................................ 133! NIPPON SHOKUBAI CO. LTD ............................................................................................................ 135! ANQING HEXING CHEMICAL CO. LTD .......................................................................................... 137! KAWASAKI KASEI CHEMICALS LTD ................................................................................................
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