The global Succinic Acid Market size is expected to value at USD 237.8 million by 2022. The succinic acid industry is subject to witness a substantial growth due to the substantial demand from various application verticals such as 1,4 butanediol, pharmaceuticals, and polyurethanes. Rapid growth of building &construction sector and automotive industry, particularly in the Asia Pacific region is expected to foster market growth over the forecast period.

High-end demand for production of resin, coating, and polyurethanes is positively affecting market growth as well. Succinic acid is considered as primary building block for the production of polyurethanes, resins, polybutylene succinate (PBS) and plasticizers. Succinic acid acts as a precursor for chemicals such as 1,4 butanediol (BDO). Globally, the succinic acid market is predicted to grow at CAGR of 12% in the forecast period, providing numerous opportunities for market players to invest for research and development in the market.

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However, volatility in the cost of crude oil price and limited availability of raw materials are expected to hamper market growth to a certain extent over the coming years. Yet, massive increase in the demand for bio-succinic acid owing to eco-friendly nature and favorable government policies for the use of green products among chemical manufacturers are anticipated to drive market growth over the next seven years. Bio-derived succinic acid is predicted to replace conventional chemicals such as butane-based maleic anhydride during production of succinic anhydride, fumaric acid, diethylmaleate, glyoxylic acid, and other plastics.

The succinic acid industry is broadly categorized into nine major segments based on the application type such as1,4 BDO, resins & coatings segment, dying and inks segments, pharmaceuticals, polyurethanes, food& beverages segment, plasticizers, cosmetics, solvent and lubricants, de-icing solutions. The resins & coatings is considered as one of the fastest growing segment in the succinic acid market with substantial revenue generation in the last few years.

Growing popularity of succinic acid in the resins & coatings segment is attributed for the rise in demand from construction and the automotive industry. The pharmaceuticals segment has also witnessed substantial growth owing to the increasing medical tourism across the globe.

The succinic acid industry is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest technologies in pharmaceuticals and resins & coatings sector, increase in number of research & development activities in the region, and existence of well-established industrial infrastructure.

Asia-Pacific region is predicted to hold major market share in the succinic acid market displaying a massive growth in the forecast period. Countries such as India, China, South Korea and Japan are leading the Asia-Pacific market with strong economic growth in the region, rapid growth of automotive and construction sector, and significant investment by leading industry players considering potential growth opportunities in the region.

The key players in the succinic acid industry are BioAmber, Inc., Anqing Hexing Chemical Co., Ltd., Reverdia, Inc., Gadiv Petrochemical Industries Ltd., Kawasaki Kasei Chemicals, Inc., Myriant Co., Showa Denko K.K., Succinity GmbH, and Nippon Shokubai Co., Ltd.

Market Segment:

Succinic Acid Application Outlook (Volume, Kilo Tons, Revenue, USD Million, 2012 - 2022)
    • 1,4 BDO
    • Resins, Coatings, Dying, and Inks
    • Pharmaceuticals
    • Polyurethanes
    • Food
    • Plasticizers
    • Cosmetics
    • Solvent and Lubricants
    • De-icing Solutions
    • Others

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Global Succinic Acid Market Outlook

Succinum, butanedioic acid, and amber acid, generally known as succinic acid, is a dicarboxylic acid that is extensively applied as an anti-ulcer drug by the pharmaceutical industry. Succinic acid has proved to bolster the immune system and stimulate neural system recovery. The pharmaceuticals industry is the largest application segment of Succinic Acid Market as attributed by the market research report from IndustryARC. However, the succinic acid finds various applications in the food & beverage, chemical, and polymers sector industry. The report estimates the global succinic market size to be around $125 million as of 2018, and the demand is expected to increment at a compound annual growth rate (CAGR) of around 7% during the forecast period of 2019 to 2025.

Browse through 155 slides and an in-depth TOC “Succinic Acid Market (2019 - 2025)”

Global Succinic Acid Market: Leading Segments

As per the IndustryARC report, the APAC dominated the succinic acid demands in 2018 with around 41% of the total demand share. The demands are incrementing owing to the flourishing manufacturing sector, increasing foreign investment in pharmaceuticals, and growing food demands. China, India, Indonesia, Thailand, and Malaysia are identified as some of the key country-wide markets in APAC.

In terms of application, the highest demands for the succinic acid are foreseen from the pharmaceuticals industry, increasing at a global CAGR of 6% to 7% through the aforementioned forecast period. As a consequence of the globally rising demand for effective medicines for neglected tropical diseases (NTDs), the succinic acid market is expected to witness proliferating growth. Other than pharmaceuticals, packaging and chemical industry are also considered as one of the lucrative sectors of the global succinic acid market.

Global Succinic Acid Market Demand Analysis

According to the International Federation of Pharmaceutical Manufacturers and Association, thirteen pharmaceutical companies including the government of the U.K., the U.S., United Arab Emirates, the World Bank, the Bill and Melinda Gates Foundation, and other global health organizations launched an initiative to pace up the progress towards reducing and eliminating ten neglected tropical disease (NTDs) by the end of this decade. Also, the group has sworn to provide more than $785 million to support R&D efforts and optimize drug distribution programs. Moreover, research-based pharmaceutical companies have pledged to donate treatments worth $14 billion in the contemporary decade. With such an extraordinary effort and an influx of humungous amounts of capital, the succinic acid market will bear tremendous profits from the pharmaceutical industry.

Global Succinic Acid Market Trends

The emerging popularity of green chemicals marked the introduction of bio-based succinic acid. These acids are being preferred over conventional synthetic by various governments. The virtue of organic chemicals is also increasing at a considerate pace owing to the Sustainable Development Goals implied by the United Nations.
Succinic acid possesses a wide range of applications in the polymers and the paints and coating industry. Increasing opportunities in the construction industry are probably one of the highest profit breeding ground for succinic acid manufacturers. Additionally, constantly increasing demands of polymers and paints in the automotive industry is further projected to propel profits in succinic acid.

Global Succinic Acid Market: Competitive Landscape

Some of the key companies identified in the report that are currently holding majority shares in the global air-conditioning market are BioAmber, GC Innovation America, Succinity GmbH, Reverdia, Nippon Shokubai, Shandong Lixing Chemical, Kawasaki Kasei Chemicals, Anqing Hexing Chemical, Anhui Sunsing Chemicals, and Gadiv Petrochemical Industries.

Talk to one of our sales representative about the full report by providing your details in the link below:
https://www.industryarc.com/support.php?id=17679

Related Reports:

Organic Acids Market: By Type (Acetic Acid, Citric Acid, Formic Acid, Lactic Acid, Prop ionic Acid, Fumaric Acid & Others) & By Geography - Forecast(2018 - 2023)
https://www.industryarc.com/Report/16128/organic-acids-market.html

About IndustryARC:

IndustryARC is a research and consulting firm that publishes more than 500 reports annually in various industries, such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food & Beverages, Information Technology, Life sciences & Healthcare.

IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications of the Market. Our Custom Research Services are designed to provide insights into the constant flux in the global demand-supply gap of markets. Our strong analyst team enables us to meet the client research needs at a very quick speed with a variety of options for your business.

We look forward to supporting the client to be able to better address customer needs; stay ahead in the market; become the top competitor and get real-time recommendations on business strategies and deals. Contact us to find out how we can help you today.

Contact Us:
Mr. Venkateshwar Reddy
Business Development Manager
Email: sales@industryarc.com
Contact Sales: 1-614-588-8538 (Ext-101)

Global Succinic Acid Market Outlook

Succinum, butanedioic acid, and amber acid, generally known as succinic acid, is a dicarboxylic acid that is extensively applied as an anti-ulcer drug by the pharmaceutical industry. Succinic acid has proved to bolster the immune system and stimulate neural system recovery. The pharmaceuticals industry is the largest application segment of Succinic Acid Market as attributed by the market research report from IndustryARC. However, the succinic acid finds various applications in the food & beverage, chemical, and polymers sector industry. The report estimates the global succinic market size to be around $125 million as of 2018, and the demand is expected to increment at a compound annual growth rate (CAGR) of around 7% during the forecast period of 2019 to 2025.

Browse through 155 slides and an in-depth TOC “Succinic Acid Market (2019 - 2025)”

Global Succinic Acid Market: Leading Segments

As per the IndustryARC report, the APAC dominated the succinic acid demands in 2018 with around 41% of the total demand share. The demands are incrementing owing to the flourishing manufacturing sector, increasing foreign investment in pharmaceuticals, and growing food demands. China, India, Indonesia, Thailand, and Malaysia are identified as some of the key country-wide markets in APAC.

In terms of application, the highest demands for the succinic acid are foreseen from the pharmaceuticals industry, increasing at a global CAGR of 6% to 7% through the aforementioned forecast period. As a consequence of the globally rising demand for effective medicines for neglected tropical diseases (NTDs), the succinic acid market is expected to witness proliferating growth. Other than pharmaceuticals, packaging and chemical industry are also considered as one of the lucrative sectors of the global succinic acid market.

Global Succinic Acid Market Demand Analysis

According to the International Federation of Pharmaceutical Manufacturers and Association, thirteen pharmaceutical companies including the government of the U.K., the U.S., United Arab Emirates, the World Bank, the Bill and Melinda Gates Foundation, and other global health organizations launched an initiative to pace up the progress towards reducing and eliminating ten neglected tropical disease (NTDs) by the end of this decade. Also, the group has sworn to provide more than $785 million to support R&D efforts and optimize drug distribution programs. Moreover, research-based pharmaceutical companies have pledged to donate treatments worth $14 billion in the contemporary decade. With such an extraordinary effort and an influx of humungous amounts of capital, the succinic acid market will bear tremendous profits from the pharmaceutical industry.

Global Succinic Acid Market Trends

The emerging popularity of green chemicals marked the introduction of bio-based succinic acid. These acids are being preferred over conventional synthetic by various governments. The virtue of organic chemicals is also increasing at a considerate pace owing to the Sustainable Development Goals implied by the United Nations.
Succinic acid possesses a wide range of applications in the polymers and the paints and coating industry. Increasing opportunities in the construction industry are probably one of the highest profit breeding ground for succinic acid manufacturers. Additionally, constantly increasing demands of polymers and paints in the automotive industry is further projected to propel profits in succinic acid.

Global Succinic Acid Market: Competitive Landscape

Some of the key companies identified in the report that are currently holding majority shares in the global air-conditioning market are BioAmber, GC Innovation America, Succinity GmbH, Reverdia, Nippon Shokubai, Shandong Lixing Chemical, Kawasaki Kasei Chemicals, Anqing Hexing Chemical, Anhui Sunsing Chemicals, and Gadiv Petrochemical Industries.

Talk to one of our sales representative about the full report by providing your details in the link below:
https://www.industryarc.com/support.php?id=17679

Related Reports:

Organic Acids Market: By Type (Acetic Acid, Citric Acid, Formic Acid, Lactic Acid, Prop ionic Acid, Fumaric Acid & Others) & By Geography - Forecast(2018 - 2023)
https://www.industryarc.com/Report/16128/organic-acids-market.html

About IndustryARC:

IndustryARC is a research and consulting firm that publishes more than 500 reports annually in various industries, such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food & Beverages, Information Technology, Life sciences & Healthcare.

IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications of the Market. Our Custom Research Services are designed to provide insights into the constant flux in the global demand-supply gap of markets. Our strong analyst team enables us to meet the client research needs at a very quick speed with a variety of options for your business.

We look forward to supporting the client to be able to better address customer needs; stay ahead in the market; become the top competitor and get real-time recommendations on business strategies and deals. Contact us to find out how we can help you today.

Contact Us:
Mr. Venkateshwar Reddy
Business Development Manager
Email: sales@industryarc.com
Contact Sales: 1-614-588-8538 (Ext-101)