Succinic Acid Market
Succinic Acid Market Highlights:
Succinic Acid Market is expected to reach US$ 750 million at the end of the forecasted period and is expected to grow at CAGR of 29% from 2016 to 2022.
Succinic Acid Market has seen a significant growth over the past few years and it has been expected that the global market will keep on growing during the forecast period. Succinic Acid are majorly used in the pharmaceuticals, food & beverage, polyester polyols, PBS & PBST, resins & coating, plasticizers, personal care and others. The growing applications are resulting in the increasing demand for Succinic Acid across the globe. The major factors behind the growth of global Succinic Acid market are growing application segment, rising interest in green chemicals, shifting trends towards bio based succinic acid, increase use in pharmaceutical sector and succinic acid has replaced the use of adipic acid and others. As per analysis, Europe is expected to account the highest growth during the forecast period due to the huge demand from the application industries.
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Succinic Acid Market Application:
Succinic acid is a water-soluble, colourless crystal with an acid taste that is used as a chemical intermediate, in medicine, the manufacture of lacquers, and to make perfume esters. Bio based succinic acid and petro based succinic acid are two major types of succinic acid, wherein, bio based is being largely used on account of strict government regulations. Its application scope includes pharmaceuticals, food & beverage, polyester polyols, resins & coating, plasticizers, personal care and others.
The global Over the years, global market has undergoing registered prolific growth, although, the trend may be change to significant growth. This has led by growing adoption of bio based succinic acid. Key industry participants has recognised the industry shifting trend towards bio based products and according adopting strategies to developed bio based product formulations. Growth in this market is highly credible to rising interest in green chemicals due to incising pressure of regulatory bodies to reduce environmental impact. In addition to this, increasing use of succinic acid in pharmaceutical sector and succinic acid has replaced the use of adipic acid.
Succinic Acid Market Key Players:
Some of the key players in this market are BASF SE, Anhui Sunsing Chemicals Co. Ltd, Kawasaki Kasei Chemicals, Lixing Chemicals, Nippon Shokubai, Mitsubishi Chemical, Bioamber, Gadiv Petrochemical Industries Ltd., Succinity, Anqing Hexing Chemical Co. Ltd and among others.
Succinic Acid Market Target Audience:
Manufactures of end-use industry
Raw material Suppliers
Research Institute / Education Institute
Key executive (CEO and COO) and strategy growth manager
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Succinic Acid Market Competitive Landscape:
Bio Amber emerged as major industry participants in succinic acid market over the other players including BASF SE, Nippon Shokubai, and Mitsubishi Chemical. Global succinic acid has seen strategic alliances among the industry players to collectively enjoy the growth served the industry. BioAmber holds the major shares in this market and has influencing its dominance on other market players. Most of the key development observed in 2017 has developed by this company including joint ventures and product launches. The company has set to increase such trends in the coming years as well, which in turn, expected to develop future demand. Moreover, Integration across various stages of the value chain is expected to result in continuous raw material supply as well as low production costs.
Succinic Acid Market Scope of the study:
The scope of the study categorizes the succinic acid market as product type and application.
- By Product Type:
Bio-Based Succinic Acid
Petro-Based Succinic Acid
- By End Use Application:
Food & Beverage
PBS & PBST
Resins & Coating
Succinic Acid Market Table of Content:
1 Executive Summary
2 Scope of the Report
2.1 Market Definition
2.2 Scope of the Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
4 Market Landscape
4.1 Five Forces Analysis
4.1.1 Threat of New Entrants
4.1.2 Bargaining Power of Buyers
4.1.3 Threat of Substitutes
4.1.4 Segment Rivalry
4.2 Value Chain/Supply Chain of Global Succinic Acid Market
5 Industry Overview of Global Succinic Acid Market
5.2 Growth Drivers
5.3 Impact Analysis
5.4 Market Challenges
5.5 Impact Analysis
Succinic Acid Market Table of Content to be Continue….,
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