Succinic Acid Market is growing at a CAGR of 9.7% in the forecast period (2024-2031)

The increase is related to the increased use of Succinic Acid (SA) in pharmaceutical manufacturing as well as building and infrastructure development operations. It is derived from petroleum & bio-based sources. The growing preference for succinic acid across butane-based chemical compounds for the manufacture of chemicals like succinic anhydride, plastic bottles, diethyl maleate, polymer compounds, fumaric, and even glyoxylic acid, which are traditionally manufactured to butane, is expected to positively influence market growth.

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Global Succinic Acid Market size was valued at USD 268.24 million in 2023 and is poised to grow from USD 294.25 million in 2024 to USD 562.57 million by 2031, at a CAGR of 9.7% during the forecast period (2024-2031).

The oxidation of methyl groups in butane to the matching carboxyl group produces alpha, omega-dicarboxylic acid. The bio-based variety is created through the fermentation of carbohydrates. Many wealthy countries' regulatory authorities are concerned about the massive amount of CO2 emissions. This has resulted in a shift in customer preference for organic and bio-derived goods. Bio-succinic acid is environmentally friendly, which is projected to boost market growth in the next few years.

Market Segmentation:

The global succinic acid market is segmented on the basis of type, end user, and region.

Based on type, the market is segmented into petro-based and bio-based.
With respect to categorization by end-use, the market is segmented into food & beverages, pharmaceutical, coatings, industrial, personal care & cosmetics, and others.
Based on region, the global succinic acid Market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.

Succinic Acid Market Top Player's Company Profiles

BioAmber Inc.
Succinity GmbH (a subsidiary of BASF SE)
Anhui Sunsing Chemicals Co., Ltd.
Kawasaki Kasei Chemicals Ltd.
Reverdia (a joint venture between DSM and Roquette Frères)
Nippon Shokubai Co., Ltd.
Mitsubishi Chemical Corporation
Myriant Corporation
Gadiv Petrochemical Industries Ltd.
Thyssenkrupp AG
Merck KGaA
Shandong Lixing Chemical Co., Ltd.
R-Biopharm AG
Succinity GmbH (a joint venture between BASF and Corbion)
Sennics Co., Ltd.
GFT GmbH
KAWASAKI KASEI CHEMICALS
Shandong Weijiao Holdings Group Co., Ltd.
Jinan Huaming Biochemistry Co., Ltd.
Qingdao Kehai Biochemistry Co., Ltd.

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Essential regions of the Succinic Acid market are:

• Succinic Acid North America Market includes (Canada, Mexico, USA)
• Succinic Acid Europe Market includes (Germany, France, Great Britain, Italy, Spain, Russia)
• Succinic Acid Asia-Pacific Market includes (China, Japan, India, South Korea, Australia)
• Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa)
• Succinic Acid South America Market includes (Brazil, Argentina)

FAQs: -

1. What are the sales, production, consumption, imports, and exports of the global market (North America, Europe, Asia-Pacific, South America, Middle East, and Africa)?
2. Who are the major manufacturers who dominate the world market?
3. What are their current capacity, production, sales, pricing, cost, gross, and revenue operating levels?
4. What are the market's risks and opportunities?

What's more, it likewise covers the request and give of the promoting research concentrate in the assessed figure time frame. Explained investigation of the market players with their profile, deals examination and serious scene is given in the report. Besides, organization, joint effort and consolidations in the business are referenced for the accommodation of the investigation of the global Succinic Acid industry.

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Objectives of the Study:

• To forecast the market size, in terms of value, for various segments with respect to five main regions, namely, North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle East & Africa (MEA)
• To provide detailed information regarding the major factors influencing the growth of the Market (drivers, restraints, opportunities, and challenges)
• To strategically analyze the micro markets with respect to the individual growth trends, future prospects, and contribution to the total market
• To provide a detailed overview of the value chain and analyze market trends with the Porter's five forces analysis
• To analyze the opportunities in the market for various stakeholders by identifying the high-growth Segments
• To identify the key players and comprehensively analyze their market position in terms of ranking and core competencies, along with detailing the competitive landscape for the market leaders
• To analyze competitive development such as joint ventures, mergers and acquisitions, new product launches and development, and research and development in the market

Looking ahead, the Succinic Acid Market is poised for continued growth, driven by evolving consumer preferences and ongoing innovations. The trend towards sustainability is expected to strengthen, with more consumers seeking products that align with their values. Additionally, the integration of advanced technologies and digital platforms will likely further enhance market accessibility and consumer engagement. The global Succinic Acid Market is a dynamic and evolving landscape, shaped by a confluence of trends and factors.

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Table of Contents

Global Succinic Acid Market Research Report 2024-2031
Chapter 1 Succinic Acid Market Overview
Chapter 2 Global Economic Impact on Industry
Chapter 3 Global Market Competition by Manufacturers
Chapter 4 Global Production, Revenue (Value) by Region
Chapter 5 Global Supply (Production), Consumption, Export, Import by Regions
Chapter 6 Global Production, Revenue (Value), Price Trend by Type
Chapter 7 Global Market Analysis by Application
Chapter 8 Manufacturing Cost Analysis
Chapter 9 Industrial Chain, Sourcing Strategy and Downstream Buyers
Chapter 10 Marketing Strategy Analysis, Distributors/Traders
Chapter 11 Market Effect Factors Analysis
Chapter 12 Global Succinic Acid Market Forecast
...

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