Succinic Acid Market Report 2024: Trend Analysis and Future Prospects

QY Research Inc. (Global Market Report Research Publisher) announces the release of 2024 latest report "Succinic Acid- Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030". Based on current situation and impact historical analysis (2019-2023) and forecast calculations (2024-2030), this report provides a comprehensive analysis of the global Wire Drawing Dies market, including market size, share, demand, industry development status, and forecasts for the next few years.
 
The global Succinic Acid revenue was US$ 110 million in 2023 and is forecast to a readjusted size of US$ 195 million by 2030 with a CAGR of 7.9% during the review period (2024-2030).
 
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https://www.qyresearch.com/reports/3386156/succinic-acid
 Succinic acid (SA), also known as amber acid, a dicarboxylic acid with the molecular formula C4H6O4, is widely distributed in plants and animals and plays an important role in intermediate metabolism. First discovered in 1550 when Agricola distilled amber, succinic acid, is a colorless crystal that dissolves in water. Succinic acid is an important raw material for the synthesis of various organic compounds and the manufacture of drugs. It is widely used in food, medicine, chemical industry and other fields. With the development of The Times, succinic acid and its extension products have made new breakthroughs.

According to the new market research report "Succinic Acid- Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030", published by QYResearch, the global Succinic Acid market size is projected to reach USD 0.18 billion by 2030, at a CAGR of 6.4% during the forecast period.

According to QYResearch Top Players Research Center, the global key manufacturers of Succinic Acid include LCY Biosciences（BioAmber）, Reverdia, Nippon Shokubai, Feiyang Chemical, Sunsing Chemicals, etc. In 2023, the global top four players had a share approximately 64.0% in terms of revenue.

Market Drivers:

Rising Demand for Bio-Based Chemicals:

With growing environmental concerns and the push for sustainable alternatives, bio-based succinic acid has gained significant traction.

Produced via renewable feedstocks, bio-based succinic acid is used as a replacement for petroleum-based chemicals in applications like plasticizers, polyurethanes, and resins.



Growth in the Food and Beverage Industry:

Succinic acid is widely used as an acidity regulator, flavor enhancer, and pH stabilizer in food and beverages.

The rising demand for processed and packaged foods globally has boosted its consumption.



Expanding Use in Pharmaceuticals:

Succinic acid is a precursor in synthesizing drugs and active pharmaceutical ingredients (APIs), contributing to its demand in the medical sector.

Its applications as an excipient in drug formulations and as an intermediate in the production of antibiotics like tetracycline are significant drivers.



Growing Adoption in Personal Care Products:

The cosmetics and personal care industry utilizes succinic acid for its properties as a pH adjuster and skin-conditioning agent.

The increasing preference for natural and bio-based ingredients in cosmetics has amplified its demand.



Restraint:

High Production Costs of Bio-Based Succinic Acid: Despite technological advancements, the production costs of bio-based succinic acid remain higher than those of petroleum-based alternatives, limiting its competitiveness in certain applications.

Availability of Substitutes: Alternative chemicals, such as adipic acid and maleic anhydride, offer similar properties at a lower cost, posing a threat to succinic acid's market share in some sectors.

Fluctuations in Raw Material Supply: The availability and pricing of raw materials used in bio-based succinic acid production, such as glucose or corn starch, are subject to agricultural yield and market volatility.

Stringent Regulations: While regulations promoting sustainable chemicals are a driver, stringent regulatory requirements for production and application in certain industries, such as food and pharmaceuticals, can act as a barrier for market entry.



Trend:

Shift Towards Bio-Based and Green Alternatives:

The transition from petroleum-based to bio-based succinic acid is one of the most prominent trends in the market. Advancements in fermentation technology and cost-effective bio-production methods are driving this shift.

Rising Applications in Agriculture:

Succinic acid is increasingly being used in agricultural applications as a plant growth regulator and soil enhancer, reflecting the trend toward sustainable farming practices.

Innovation in Production Technologies:

Ongoing research in fermentation and microbial engineering is reducing production costs and improving yields of bio-based succinic acid, making it competitive with traditional petrochemical processes.
 
 
The report provides a detailed analysis of the market size, growth potential, and key trends for each segment. Through detailed analysis, industry players can identify profit opportunities, develop strategies for specific customer segments, and allocate resources effectively.
 
The Succinic Acid market is segmented as below:
By Company
    LCY Biosciences (BioAmber)
    Succinity GmbH
    Reverdia
    Technip Energies
    Nippon Shokubai
    Feiyang Chemical
    Sunsing Chemicals
    Jinbaoyu Technology
    Shandong Landian Biological Technology Co., LTD
    Shanghai shenren Fine chemical Co.,ltd.
    Weinan Huifeng
    AH BIOSUS
    HSUKO New Materials
 
Segment by Type
    Bio-based
    Petro-based
 
Segment by Application
    Resins, Coatings and Pigments
    PBS
    Food and Beverage
    Pharmaceuticals
    Polyester Polyols
    Others
 
Each chapter of the report provides detailed information for readers to further understand the Succinic Acid market:
Chapter 1: Introduces the report scope of the Succinic Acid report, global total market size (valve, volume and price). This chapter also provides the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry. (2019-2030)
Chapter 2: Detailed analysis of Succinic Acid manufacturers competitive landscape, price, sales and revenue market share, latest development plan, merger, and acquisition information, etc. (2019-2024)
Chapter 3: Provides the analysis of various Succinic Acid market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments. (2019-2030)
Chapter 4: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.(2019-2030)
Chapter 5:  Sales, revenue of Succinic Acid in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the market development, future development prospects, market space, and market size of each country in the world..(2019-2030)
Chapter 6:  Sales, revenue of Succinic Acid in country level. It provides sigmate data by Type, and by Application for each country/region.(2019-2030)
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc. (2019-2024)
Chapter 8: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 9: Conclusion.
 
Benefits of purchasing QYResearch report:
Competitive Analysis: QYResearch provides in-depth Succinic Acid competitive analysis, including information on key company profiles, new entrants, acquisitions, mergers, large market shear, opportunities, and challenges. These analyses provide clients with a comprehensive understanding of market conditions and competitive dynamics, enabling them to develop effective market strategies and maintain their competitive edge.
Industry Analysis: QYResearch provides Succinic Acid comprehensive industry data and trend analysis, including raw material analysis, market application analysis, product type analysis, market demand analysis, market supply analysis, downstream market analysis, and supply chain analysis.
and trend analysis. These analyses help clients understand the direction of industry development and make informed business decisions.
Market Size: QYResearch provides Succinic Acid market size analysis, including capacity, production, sales, production value, price, cost, and profit analysis. This data helps clients understand market size and development potential, and is an important reference for business development.
 
Other relevant reports of QYResearch:
Succinic Acid- Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030
Global Succinic Acid Market Insights, Forecast to 2030
Global Succinic Acid Market Research Report 2024
Global Succinic Acid Industry Research Report, Growth Trends and Competitive Analysis 2024-2030
Global Succinic Acid Market Size, Manufacturers, Supply Chain, Sales Channel and Clients, 2024-2030
Succinic Acid - Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030
Global and United States Bio-succinic Acid Market Report & Forecast 2024-2030
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Global Bio Succinic Acid Market Research Report 2024
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Bio Succinic Acid - Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030
Global and Japan Succinic Acid Powder Market Report & Forecast 2024-2030
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Global Succinic Acid Powder Market Research Report 2024
Global Succinic Acid Powder Market Insights, Forecast to 2030
Global Phenyl Succinic Acid Market Insights, Forecast to 2030
 
 

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