PUBLISHED: November 30, 2018   |  Available Formats  

Succinic Acid Market – Size, Share and Forecast (2018-2025)

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Report Summary

Succinic Acid Market

The global succinic acid market was valued at USD xx million in 2017 and is estimated to reach USD xx million by 2025, with a CAGR of xx% during the forecast period from 2018 to 2025. Succinic acid is a dicarboxylic acid with the chemical formula (CH2)2(CO2H)2 that occurs naturally in plant and animal tissues.

It is also known as the “Spirit of Amber.” It is used as a flavoring agent for food and beverages, intermediate for dyes, perfumes, lacquers, photographic chemicals, alkyd resins, plasticizers, metal treatment chemicals, and coatings. It is also used in the manufacture of medicines for sedatives, contraceptives, and cancer-curing. The U.S. Department of Energy (USDOE) considers succinic acid as one among the top twelve chemical building blocks.

 

Drivers & Restraints

The growing manufacturing industries are increasing the demand for Bio-based succinic acid. The increasing bio-succinic acid demand because of stringent regulations in developed regions like North America and Europe. Also, growing demand & adoption of succinic acid in large market base industries like PBS and polyurethanes are the significant drivers for the succinic acid market.

However, the high processing cost of succinic acid is a significant restraint to the growth of the market.

 

Market Segmentation Analysis

The global succinic acid market report segments the market by type and application. By type, segment includes bio-based and petrol-based succinic acid.

The demand for bio-based succinic acid is estimated to increase exponentially in the coming years because of the increasing application and adoption of greener and sustainable chemicals globally.

The market for bio-based succinic acid is also being driven by its ability to reduce carbon footprint by reducing greenhouse gas emissions and lowering the energy consumption. Bio-based succinic acid is increasingly being used in food, pharma, solvents and lubricants, de-icer solutions, cosmetics, and many more applications.

Further, the application segment classifies the market as industrial, food & beverage, pharmaceuticals, and others. The industrial sector was the largest segment in 2017 and held more than half of the total demand followed by pharmaceuticals and food & beverages respectively.

The Industrial segment can further be segmented as resins, coatings, pigments, solvents & lubricants, plasticizers, de-icer solutions, PBS, polyurethanes, and others. PBS is the fastest-growing sub-segment in this category. Bio-based is the most preferred type of succinic acid in the PBS sector. The increasing demand for non-toxic plastic packaging components from PET bottles & plastic containers is also fuelling the growth of bio-based succinic acid in the PBS application market.

 

Geographical Analysis

The report segments the market by geographic region which includes North America, South America, Europe, Asia-Pacific, and rest of the world. Europe is the largest market for succinic acid owing to the high investments, significant production facilities, and a robust industrial base for construction, packaging, automotive and other end-user sectors.

 

Manufacturers in the European region are highly focussed on the development of bio-based succinic acid because of the stringent regulations in the area over the use of chemicals which pose a threat to the environment as well as human. The growing demand for eco-friendly bio-based materials in automotive coatings, packaging, and pharmaceuticals sector is also leading to the growth of bio-based succinic acid in the region. Thus, the increasing demand for bio-based succinic acid is expected to propel the European succinic acid market during the forecast period.

Asia-Pacific is estimated to be the fastest growing region during the forecast period owing to the high development in the application industries for succinic acid.

Factors like low-cost labor, easy availability of raw materials, and favorable government policies in countries like India and China are boosting the manufacturing sector in the region, and the number of production plants is continuously increasing in this region.

Thus, the growth in the manufacturing sector in the region will boost the demand for succinic acid in the area because of its various applications in the industry.

 

Key Players

The global succinic market is highly fragmented with many local and international players. However, the international players such as BASF, DSM N.V, and BioAmber are leading producers of succinic acid. Other prominent players of the report include Myriant, Nippon Shokubai, Succinity, Kawasaki Kasei Chemicals, Mitsubishi Chemical Holdings, Anhui Sunsing Chemicals, Reverdia, Linyi Lixing Chemical Co., Ltd., Gadiv Petrochemical Industries Ltd., Yantai Shanshui Chemical Technology.

 

Key market segments covered

By Type

  • Bio-based
  • Petro-based

By Application

  • Food & Beverage
  • Pharmaceutical
  • Industrial
    • Resins, Coatings, Pigments
    • Solvents & Lubricants
    • Plasticizers
    • De-icer Solutions
    • PBS
    • Polyurethanes
    • Others
  • Others

By Region

  • Asia Pacific
  • Europe
  • North America
  • South America
  • Rest of the World

 

Why purchase the report?

  • Visualize the composition of the Succinic Acid market across each indication, regarding type and application highlighting the key commercial assets and players.
  • Identify commercial opportunities in Succinic Acid market by analyzing trends and co-development deals.
  • Excel data sheet with thousands of data points of the Succinic Acid market level 4/5 segmentation
  • PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study
  • Product mapping in excel for the key Succinic Acid market products of all major market players

 

Target Audience

  • Raw Material Suppliers/ Buyers
  • Product Suppliers/ Buyers
  • Industry Investors/Investment Bankers
  • Education & Research Institutes
  • Research Professionals
  • Emerging Companies
  • Manufacturers

 

Note : Additional discounts for related bundle reports

 

Table of Contents

  1. Global Succinic Acid Market – Methodology and Scope
    • Research Methodology
    • The scope of the Report
  2. Global Succinic Acid Market – Trends
    • Key Trends & Developments
  3. Global Succinic Acid Market – Industry Analysis
    • Industry Impact Factors (Drivers & Restraints)
    • Competitive Intensity- Porter 5 Forces
    • Regulatory Analysis
  4. Global Succinic Acid Market – By Type
    • Bio-based
    • Petro-based
  5. Global Succinic Acid Market – By Application
    • Food & Beverage
    • Pharmaceutical
    • Industrial
      • Resins, Coatings, and Pigments
      • Solvents & Lubricants
      • Plasticizers
      • De-icer Solutions
      • PBS
      • Polyurethanes
      • Others
    • Others
  6. Global Succinic Acid Market – By Geography
    • North America
      • The United States
      • Canada
      • Mexico
    • South America
      • Brazil
      • Argentina
      • Rest of South America
    • Europe
      • Germany
      • United Kingdom
      • France
      • Italy
      • Rest of Europe
    • Asia-Pacific
      • China
      • Japan
      • India
      • Australia
      • Rest of Asia-Pacific
    • Rest of the World
  7. Global Succinic Acid Market – Competitive Landscape
    • Market Player Analysis
    • Key Strategies adopted by Manufacturers
    • Product Benchmarking
  8. Global Succinic Acid Market – Company Profiles*
    • BioAmber
    • Myriant
    • Nippon Shokubai
    • Succinity
    • BASF
    • Koninklijke DSM N.V
    • Kawasaki Kasei Chemicals
    • Mitsubishi Chemical Holdings
    • Anhui Sunsing Chemicals
    • Reverdia
    • Linyi Lixing Chemical Co., Ltd.
    • Gadiv Petrochemical Industries Ltd.
    • Yantai Shanshui Chemical Technology
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