Succinic Acid Processing Industries in Spotlight – issues, trends and future

Introduction:

Succinic acid is a dicarboxylic acid with chemical formula (CH2)2(CO2H)2. It is a white, neutral solid. In an aqueous solution, it ionizes to anions (that is, conjugates to a conjugate base) called succinate which plays a role in the citric acid cycle, an energy-yielding process in all living organisms. As a radical group it is called a succinyl group.

The global succinic acid market is expected to grow over the CAGR of 29% during the period 2016 to 2022.

Over the past few years, the global market has seen a substantial growth due to increasing demand of succinic acid. This has resulted into a higher growth rate at the end of forecasted period. As per the market analysis, different factors have created boom in the global succinic acid market are growing application segment, rising interest in green chemicals, shifting trends towards bio based succinic acid, increase use in pharmaceutical sector and succinic acid has replaced the use of adipic acid and others.

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We recognize the key players in the Global Succinic Acid Market as include BASF SE, Anhui Sunsing Chemicals Co. Ltd, Kawasaki Kasei Chemicals, Lixing Chemicals, Nippon Shokubai, Mitsubishi Chemical, Bioamber, Gadiv Petrochemical Industries Ltd., Succinity, Anqing Hexing Chemical Co. Ltd and among others. This report includes the product portfolios of the same.

This research report has provides the insights, on various levels of analyses such industry analysis, market share analysis leading market players and their profiles. This report also helps in studying the target segments by providing views on emerging & high-growth segments and market conclusion. Together the market data comprise and discuss with the basic assessments on the competitive scenarios & strategies, of the Global Succinic Acid Market, including the high-growth regions, countries and their political, economic and technological environments. Furthermore the project report also provides the views over the historical market values as well as, pricing and cost analysis of the same.

Synopsis of Succinic Acid Market:

The global succinic market has witnessed a significant growth over the last decade and it has been analyzed that the global market will achieve the same growth during the forecast period. As per MRFR analysis, the global succinic market is accounted to reach USD 750 million by 2022 with a CAGR of 29%.

The major factors which are driving the global market are growing application segment, rising interest in green chemicals, shifting trends towards bio based succinic acid, increase use in pharmaceutical sector and succinic acid has replaced the use of adipic acid and others. Geographically, Europe has accounted the largest market share in 2015 and expected to lead the market during the forecast period.

Scope of the study

The scope of the study categorizes the succinic acid market as product type and application.

By Product Type

  • Bio-Based Succinic Acid
  • Petro-Based Succinic Acid

By End Use Application

  • Pharmaceuticals
  • Food & Beverage
  • Polyester Polyols
  • PBS & PBST
  • Resins & Coating
  • Plasticizers
  • Personal Care

The global Succinic Acid market has seen a significant growth over the past few years and it has been expected that the global market will keep on growing during the forecast period. Succinic Acid are majorly used in the pharmaceuticals, food & beverage, polyester polyols, PBS & PBST, resins & coating, plasticizers, personal care and others. The growing applications are resulting in the increasing demand for Succinic Acid across the globe. The major factors behind the growth of global Succinic Acid market are growing application segment, rising interest in green chemicals, shifting trends towards bio based succinic acid, increase use in pharmaceutical sector and succinic acid has replaced the use of adipic acid and others. As per analysis, Europe is expected to account the highest growth during the forecast period due to the huge demand from the application industries.

Study Objectives of Succinic Acid:

  • To provide detailed analysis of the market structure along with forecast for the next 6 years of the various segments and sub-segments of the succinic acid market
  • To provide insights about factors affecting the market growth
  • To analyze the succinic acid market based on various factors- price analysis, supply chain analysis, porters five force analysis etc.
  • To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- Americas, Europe, Asia-Pacific, and Middle East & Africa.
  • To provide country level analysis of the market with respect to the current market size and future prospective
  • To provide country level analysis of the market for segments by product types, by end use applications and by regions
  • To provide overview of key players and their strategic profiling in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market
  • To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the global market

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