Jammu And Kashmir Headlines

Succinic Acid Market Size, Analysis Report To 2022 – Global Demand, Recent Trends, Growth Prospects, Research Methodology and Future Outlook | Million Insights

 Breaking News
  • No posts were found

Succinic Acid Market Size, Analysis Report To 2022 – Global Demand, Recent Trends, Growth Prospects, Research Methodology and Future Outlook | Million Insights

August 06
06:10 2020
Succinic Acid Market Size, Analysis Report To 2022 - Global Demand, Recent Trends, Growth Prospects, Research Methodology and Future Outlook | Million Insights

Million Insights – World’s Fastest Growing Market Research Database
According to new report available with Million Insights, the global succinic acid industry is predicted to grow at a CAGR of 12% in the forecast period, providing numerous opportunities for market players to invest in research and development of the market.

The global Succinic Acid Market size is expected to value at USD 237.8 million by 2022. The succinic acid industry is subject to witness a substantial growth due to the substantial demand from various application verticals such as 1,4 butanediol, pharmaceuticals, and polyurethanes. Rapid growth of building &construction sector and automotive industry, particularly in the Asia Pacific region is expected to foster market growth over the forecast period.

High-end demand for production of resin, coating, and polyurethanes is positively affecting market growth as well. Succinic acid is considered as primary building block for the production of polyurethanes, resins, polybutylene succinate (PBS) and plasticizers. Succinic acid acts as a precursor for chemicals such as 1,4 butanediol (BDO). Globally, the succinic acid market is predicted to grow at CAGR of 12% in the forecast period, providing numerous opportunities for market players to invest for research and development in the market.

Get Sample PDF and read more details about the “Succinic Acid Market” Report 2022.

However, volatility in the cost of crude oil price and limited availability of raw materials are expected to hamper market growth to a certain extent over the coming years. Yet, massive increase in the demand for bio-succinic acid owing to eco-friendly nature and favorable government policies for the use of green products among chemical manufacturers are anticipated to drive market growth over the next seven years. Bio-derived succinic acid is predicted to replace conventional chemicals such as butane-based maleic anhydride during production of succinic anhydride, fumaric acid, diethylmaleate, glyoxylic acid, and other plastics.

The succinic acid industry is broadly categorized into nine major segments based on the application type such as1,4 BDO, resins & coatings segment, dying and inks segments, pharmaceuticals, polyurethanes, food& beverages segment, plasticizers, cosmetics, solvent and lubricants, de-icing solutions. The resins & coatings is considered as one of the fastest growing segment in the succinic acid market with substantial revenue generation in the last few years.

Growing popularity of succinic acid in the resins & coatings segment is attributed for the rise in demand from construction and the automotive industry. The pharmaceuticals segment has also witnessed substantial growth owing to the increasing medical tourism across the globe.

The succinic acid industry is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest technologies in pharmaceuticals and resins & coatings sector, increase in number of research & development activities in the region, and existence of well-established industrial infrastructure.

Asia-Pacific region is predicted to hold major market share in the succinic acid market displaying a massive growth in the forecast period. Countries such as India, China, South Korea and Japan are leading the Asia-Pacific market with strong economic growth in the region, rapid growth of automotive and construction sector, and significant investment by leading industry players considering potential growth opportunities in the region.

The key players in the succinic acid industry are BioAmber, Inc., Anqing Hexing Chemical Co., Ltd., Reverdia, Inc., Gadiv Petrochemical Industries Ltd., Kawasaki Kasei Chemicals, Inc., Myriant Co., Showa Denko K.K., Succinity GmbH, and Nippon Shokubai Co., Ltd.

Full Research Report On Global Succinic Acid Market Analysis available at: https://www.millioninsights.com/industry-reports/succinic-acid-market

Market Segment:

Succinic Acid Application Outlook (Volume, Kilo Tons, Revenue, USD Million, 2012 – 2022)
    • 1,4 BDO
    • Resins, Coatings, Dying, and Inks
    • Pharmaceuticals
    • Polyurethanes
    • Food
    • Plasticizers
    • Cosmetics
    • Solvent and Lubricants
    • De-icing Solutions
    • Others

Succinic Acid Regional Outlook (Volume, Kilo Tons, Revenue, USD Million, 2012 – 2022)
    • North America
    • Europe
    • Asia Pacific
    • RoW

Browse Latest Press Releases Available With Million Insights:

1. Heating Radiator Market – https://www.millioninsights.com/press-releases/heating-radiator-market

2. Flow Computer Market – https://www.millioninsights.com/press-releases/flow-computers-market

About Million Insights

Million Insights, is a distributor of market research reports, published by premium publishers only. We have a comprehensive market place that will enable you to compare data points, before you make a purchase. Enabling informed buying is our motto and we strive hard to ensure that our clients get to browse through multiple samples, prior to an investment. Service flexibility & the fastest response time are two pillars, on which our business model is founded. Our market research report store, includes in-depth reports, from across various industry verticals, such as healthcare, technology, chemicals, food & beverages, consumer goods, material science & automotive.

For More Information: www.millioninsights.com

Media Contact
Company Name: Million Insights
Contact Person: Ryan Manuel
Email: Send Email
Phone: 91-20-65300184
Address:Office No. 302, 3rd Floor, Manikchand Galleria, Model Colony, Shivaji Nagar
City: Pune
State: Maharashtra
Country: India
Website: https://www.millioninsights.com/industry-reports/succinic-acid-market

Categories