Succinic Acid Market 2019 Development Status, Competition Analysis and Newest Industry Data 2028 | Leading Players- Nippon Shokubai, BioAmber, GC Innovation America

Succinic Acid Market is estimated to reach USD XX billion by 2028

This detailed market study focuses on the data obtained from various primary and secondary sources and is analyzed using different tools. It helps in gaining insights about the potential of the market for growth which can facilitate the investors in identifying scope and opportunities. The analysis also provides details of each segment in the global Succinic Acid Market.

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According to the report succinic acid market is expected to offer high growth due to increased demand in recent years from the end use chemicals & government initiatives on bio based goods. The growth of the market is expected to drive increased demand from applications like chemical intermediates, food additives, plasticizers, fuel additives, and others.

What is Succinic Acid?

Succinic acid is a bulk chemical and is a precursor of many essential industrial chemicals and consumer products in large volumes. It can be derived from fossil fuels by catalytic hydrogenation of maleic anhydride and also from a biological process since succinic acid occurs in living organisms as an intermediate of the tricarboxylic acid cycle and in some anaerobic organisms.

Succinic acid is primarily used as a substitute for petrol based succinic acid in a few applications, such as solvents and lubricants, deicer solutions, cosmetics, food, and medicine. Moreover, other applications such as 1,4-Butanediol (BDO), PBS, plasticizers, and polyester polyols. All these applications can drive the growth of the industry.

With an emphasis on both organic and inorganic growth strategies, there have been several primary developments done by major companies like Nippon Shokubai, BioAmber, GC Innovation America, Succinity GmbH, Kawasaki Kasei Chemicals.

Segmentation for better understanding of this market and its growth prospects:

Global succinic acid market has been segmented based on, type (fossil fuel based & bio-based), application (chemical intermediate, food additives, plasticizers, fuel additives, and others), end-use industry (chemical, pharmaceuticals, food & beverage, personal care and others) and region.

By type segment, fossil fuel based succinic acid is accounted for the largest market share during the forecast period. The market for fossil fuel based succinic acid is high due to its cost-effectiveness and reliability in various chemical industry applications, such as polyester polyols for polyurethane processing, PBS, and personal care.

By end-use industry, the pharmaceuticals segment is expected to grow significantly during the forecast period. Increased use of succinic acid in various pharmaceutical companies and industries helps to boost this industry among others.

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This report provides:

1) An overview of Global Succinic Acid Market globally and related technologies.
2) Analysis of global market trends, estimates of each year and annual compound growth rate projections (CAGRs).
3) Identification of new market opportunities and targeted promotional plans for Global Succinic Acid Market devices
4) Discussion of R&D and demand for new products and new applications
5) Comprehensive company profiles of key industry players.

The researchers have studied the market in-depth and have come up with major segments like product type, application, and region. Based on their market share, growth prospects, and CAGR, each and every segment and its sub-segments are studied. Each market segment offers in-depth information on market outlook, both qualitative and quantitative.

Regional segmentation and analysis to understand growth patterns:

The market has been segmented in major regions to understand the global development and demand patterns of this market.

On the basis of the region, the succinic acid market has been segmented by North America, Western Europe, Eastern Europe, Asia Pacific, Middle East, & Rest of the World.

The Asia-Pacific region is expected to remain the fastest growing succinic acid market segment with higher CAGR during the forecast period, due to high economic growth, increasing manufacturing sector, cheap labor, increased foreign investment, agreements/collaborations, and expansions. Major countries in the Asia Pacific region include China, South Korea, Japan, India, Australia, and so on.

Some of the major markets in North America and Western Europe are also typical suppliers of chemicals such as specialty chemicals, bulk chemicals, and so on. Throughout designing the green alternatives in these regions, preference for bio-based feedstock has been instrumental.

In addition, regulations placed strict guidelines on environmental concerns and potential health hazards due to exposures. This has been more instrumental in the Western Europe region competitively. Some of the major economies in these regions include the US, Germany, UK, France, Canada, Italy, Spain, and so on.

Some of the key Impact Factors:

o Increasing demand from the end chemical products
o Government initiatives on biobased products
o Use of succinic acid in medicines

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Market Segmentation:

By Type:
o Fossil Fuel Based
o Bio-Based

By Application:
o Chemical Intermediate
o Food Additives
o Plasticizers
o Fuel Additives
o Others

By End-Use Industry:
o Chemical
o Pharmaceuticals
o Food & Beverage
o Personal Care
o Others

By Region:

o North America
o By Country (US, Canada, Mexico)
o By Type
o By Application
o By End-Use Industry

o Western Europe
o By Country (Germany, UK, France, Italy, Spain, Rest of Western Europe)
o By Type
o By Application
o By End-Use Industry

o Eastern Europe
o By Country (Russia, Turkey, Rest of Eastern Europe)
o By Type
o By Application
o By End-Use Industry

o Asia Pacific
o By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
o By Type
o By Application
o By End-Use Industry

o Middle East
o By Country (UAE, Saudi Arabia, Qatar, Iran, Rest of Middle East)
o By Type
o By Application
o By End-Use Industry

o Rest of the World
o By Region (South America, Africa)
o By Type
o By Application
o By End-Use Industry

Reasons to buy this report:

o Market size estimation of the succinic acid market on a regional and global basis
o The unique research design for market size estimation and forecasts
o Profiling of the major companies operating in the market with key developments
o Broad scope to cover all the possible segments helping every stakeholder in the market

Customization:

We provide customization of the study to meet the specific requirements:
o By segment
o By sub-segment
o By region/country

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This release was published on openPR.