Succinic Acid Market Projected to Surpass USD 530 Billion by 2031 | BioAmber, Myriant, Nippon Shokubai.

The Succinic Acid Market report by DataM Intelligence provides insights into the latest trends and developments in the market. This report identifies the key growth opportunities in the market and provides recommendations for market participants to capitalize on these opportunities. Overall, the Succinic Acid market report is an essential resource for market participants who are looking to gain a comprehensive understanding of the market and identify opportunities for growth.

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The Global Succinic Acid Market reached US$ 256.5 billion in 2022 and is projected to witness lucrative growth by reaching up to US$ 530 billion by 2031. The market is growing at a CAGR of 9.5% during the forecast period 2024-2031.

The succinic acid market focuses on the production and use of succinic acid, a versatile chemical used in a wide range of applications including biodegradable plastics, food and beverages, pharmaceuticals, and cosmetics. Succinic acid is also used in the manufacturing of chemicals, solvents, and as a precursor for bio-based chemicals. The market is driven by the increasing demand for sustainable and eco-friendly products, advancements in bio-based succinic acid production technologies, and the growing focus on reducing reliance on petroleum-based chemicals. Applications in renewable energy and biofuels further contribute to market growth.

Competitive Landscape

The section also contains information related to the new product launches, mergers, acquisitions, collaborations, etc., to give a clear understanding about the competitive landscape prevailing in the global market. With an emphasis on strategies there have been several primary developments done by major companies such as BioAmber, Myriant, Nippon Shokubai, Succinity, BASF, Koninklijke DSM N.V, Kawasaki Kasei Chemicals, Mitsubishi Chemical Holdings, Anhui Sunsing Chemicals, and Reverdia.

Key Developments:

In August 2022, Technip Energies expanded its portfolio of sustainable chemicals by acquiring Biosuccinium technology from DSM. This technology enables the commercial-scale production of bio-based succinic acid (bio-SAc), a key feedstock used in manufacturing polybutylene succinate, a biodegradable polymer with various industrial applications. The acquisition enhances Technip Energies' offerings in the growing field of sustainable chemicals.

In September 2021, Kemira announced a significant investment to expand its production of alkenyl succinic anhydride (ASA), a key sizing agent, in China. This expansion includes the addition of a third production line at its Nanjing facility in Jiangsu province, which will notably increase Kemira's ASA production capacity, supporting demand in the Asia-Pacific region and strengthening its position in the global market.

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Market Segments

The detailed segmentation offered in the report will help customers get a clear idea about the market segments and the factors that will drive segmental growth. The Succinic Acid market has been segmented

By Type: Bio-based, Petro-based.

By Application: Food & Beverage, Pharmaceutical, Industrial, Others.

Research Process

Both primary and secondary data sources have been used in the global Succinic Acid Market research report. During the research process, a wide range of industry-affecting factors are examined, including governmental regulations, market conditions, competitive levels, historical data, market situation, technological advancements, upcoming developments, in related businesses, as well as market volatility, prospects, potential barriers, and challenges.

Regional Analysis for Succinic Acid Market:

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

**The full version of the report includes an in-depth analysis of emerging players and startups, which will provide valuable insights into the evolving market landscape and key strategies being adopted**

This Report Covers:

✔ Go-to-market Strategy.

✔ Neutral perspective on the market performance.

✔Development trends, competitive landscape analysis, supply side analysis, demand side analysis, year-on-year growth, competitive benchmarking, vendor identification, and other significant analysis, as well as development status.

✔Customized regional/country reports as per request and country level analysis.

✔ Potential & niche segments and regions exhibiting promising growth covered.

✔ Analysis of Market Size (historical and forecast), Total Addressable Market (TAM), Serviceable Available Market (SAM), Serviceable Obtainable Market (SOM), Market Growth, Technological Trends, Market Share, Market Dynamics, Competitive Landscape and Major Players (Innovators, Start-ups, Laggard, and Pioneer).

Chapter Outline

⏩ Market Overview: It contains five chapters, as well as information about the research scope, major manufacturers covered, market segments, Succinic Acid market segments, study objectives, and years considered.

⏩ Market Landscape: The competition in the Global Succinic Acid Market is evaluated here in terms of value, turnover, revenues, and market share by organization, as well as market rate, competitive landscape, and recent developments, transaction, growth, sale, and market shares of top companies.

⏩ Companies Profiles: The global Succinic Acid market's leading players are studied based on sales, main products, gross profit margin, revenue, price, and growth production.

⏩ Market Outlook by Region: The report goes through gross margin, sales, income, supply, market share, CAGR, and market size by region in this segment. North America, Europe, Asia Pacific, Middle East & Africa, and South America are among the regions and countries studied in depth in this study.

⏩ Market Segments: It contains the deep research study which interprets how different end-user/application/type segments contribute to the Succinic Acid Market.

⏩ Market Forecast: Production Side: In this part of the report, the authors have focused on production and production value forecast, key producers forecast, and production and production value forecast by type.

⏩ Research Findings: This section of the report showcases the findings and analysis of the report.

⏩ Conclusion: This portion of the report is the last section of the report where the conclusion of the research study is provided.

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Frequently asked questions:

➠ What is the global sales value, production value, consumption value, import and export of Succinic Acid market?

➠ Who are the global key manufacturers of the Succinic Acid Industry? How is their operating situation (capacity, production, sales, price, cost, gross, and revenue)?

➠ What are the Succinic Acid market opportunities and threats faced by the vendors in the global Succinic Acid Industry?

➠ Which application/end-user or product type may seek incremental growth prospects? What is the market share of each type and application?

➠ What focused approach and constraints are holding the Succinic Acid market?

➠ What are the different sales, marketing, and distribution channels in the global industry?

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