Press release
Succinic Acid Market to Expand at CAGR of 19.4% owing to Development of Biobased Succinic Acid
A new report has been published by Transparency Market Research, titled “Succinic Acid Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 - 2018”. TMR, a market intelligence company based in the U.S., states in its report that the value of the global succinic acid market was estimated at US$240.3 million in 2011 and is expected to be growing at a remarkable CAGR of 19.4% between 2012 and 2018. The succinic acid market is predicted to be worth US$836.2 million by 2018.The TMR report states that maleic anhydride, which is derived from petroleum, is the conventional feedstock material utilized in the manufacture of succinic acid. As a result, the cost of conventionally derived succinic acid is vulnerable to any fluctuations in the price of petroleum. The expanding demand in applications such as polyurethane, 1,4-butanediol, plasticizers, coatings, resins, and dyes and inks has raised demand from the global succinic acid market. In 2011, coatings, resins, dyes, and inks as a whole dominated the market and accounted for 20.8% of the overall consumption of succinic acid worldwide.
Get Free PDF Brochure for more Professional and Technical insights : http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=1008
The study states that rise in infrastructure and construction development activities is predicted to boost the demand for coating, resin, and polyurethanes, which in turn is likely to aid the growth of the global succinic acid market. The pharmaceutical industry was the second largest application of succinic acid in the global perspective and held a 13.0% share in overall consumption in 2012. In 2011, polyurethane was the third largest application of succinic acid, with a share of more than 12% in overall consumption, and is predicted to expand at a CAGR of 28.0% between 2012 and 2018.The price of raw materials has been a primary concern for succinic acid manufacturers. Additionally, increasing environmental concern amongst end users has resulted in rising demand for green products. To counter these restraints, succinic acid manufacturers are progressively shifting towards commercialization and development of biobased succinic acid. Numerous companies are investing heavily in the production and advancement of biobased succinic acid. Commercialization and development of biobased succinic acid is anticipated to open up fresh avenues for industry players in the coming years. However, strict environmental regulations are predicted to impede demand for petroleum-derived succinic acid in the forthcoming years.
As per this TMR research report, the market is segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). Europe accounted for the biggest share of the global succinic acid market in 2011, holding 33% of the market. The second biggest market for succinic acid, with a 29.6% share in the global market in 2011, was Asia Pacific. It is projected to be the most swiftly growing market for succinic acid, due to rising demand from India, China, and Japan. North America held 29.2% of the total market in 2011 owing largely to rising demand for coatings, resins, inks, and dyes.
Major manufacturers of succinic acid profiled in the report include Reverdia, BioAmber, DSM, BASF, Myriant Corporation, Mitsubishi Chemicals, Anqing Hexing Chemical Co. Ltd, Purac Biochem, Nippon Shokubai Co., Ltd, and Showa Denko K.K.
About Us
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
Contact
Transparency Market Research
90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com/
Visit Blog : http://globalresearchanalysis.blogspot.in/
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Succinic Acid Market to Expand at CAGR of 19.4% owing to Development of Biobased Succinic Acid here
News-ID: 358756 • Views: …
More Releases for TMR
Cancer Diagnostics Market Reviews 2031 | TMR Study
According to a Transparency Market Research (TMR) research report, the global cancer diagnostics Market is likely to expand at a CAGR of 7.4% during the forecast period, 2022 to 2031. This suggests that the market is expected to reach US$ 335.7 Bn by the end of 2031.
The study on the cancer diagnostics Market adopts rigorous and systematic research approaches to understand the growth dynamic of the market. The authors have…
LED Work Light Market 2029 | TMR Research
LED Work Light Market: Overview
The LED work light market may gain good momentum in terms of growth across the forecast period of 2019-2029 due to the growing demand from residential segments and the overwhelming benefits it provides. These high-intensity light fixtures are mainly used by technicians to assist them in their work temporarily. The use of LED work lights is increasing among many end-users due to benefits like longevity, durability,…
Dissolved Gas Analyzer Market 2025 | TMR Research
Global Dissolved Gas Analyzer Market: Overview
The high electrical and thermal stress leads to decomposition of mineral oils used inside a power transformer. This in turn leads to generation of hydrogen (H2), carbon di-oxide (CO2), carbon mono-oxide (CO), methane (CH4), ethylene (C2H4), and acetylene (C2H2) among others. The formation of these gases depends upon the faults in the transformer.
To evaluate the nature of the gases and their potential threats, dissolved gas…
Tumblers Market 2028 | TMR Research
The tumblers market is expected to set growth straight with rising demand for new attractive designs for liquors including alcoholic, and non-alcoholic in emerging region of Asia pacific. The rising disposable income, increasing access to quality products, and new product launches customised to suit the taste of the region promise major growth for the tumblers market in near future.
Download Brochure of This Market Report at - https://www.tmrresearch.com/sample/sample?flag=B&rep_id=6200
Among regions, North America,…
Hyperloop Train Market 2025 | TMR Research
Global Hyperloop Train Market: Snapshot
The global market for hyperloop train is likely to exhibit high-speed expansion in the next few years. The demand for cheap and quick modes of transport that incur low base-costs and are built on easier-to-construct infrastructure, are immune to natural calamities such as earthquakes are the key factors expected to work in favor of the global hyperloop train market.
Request Sample Copy of the Report @ https://www.tmrresearch.com/sample/sample?flag=B&rep_id=2000
The…
Crowdsourced Security Market 2018 - 2028 | TMR Research
Crowdsourced Security Market: Overview
The global crowdsourced security market is expected develop at a healthy pace in the coming years of the forecast period of 2018 to 2028. The mobile phone application segment of the crowdsourced security market is expected to develop at a rapid pace in these coming years. The rate of adoption of these mobile application is growing at a great pace and is thus helping the market to…
