Succinic Acid Market was valued at US$ 159.79 Mn in 2022 and is expected to reach US$ 251.60 Mn by 2029, at a CAGR of 6.7 % during a forecast period. The report includes an analysis of the impact of COVID-19 lockdown on the revenue of market leaders, followers, and disruptors. Since the lockdown was implemented differently in various regions and countries; the impact of the same is also seen differently by regions and segments. The report has covered the current short-term and long-term impact on the market, and it would help the decision-makers to prepare the outline and strategies for companies by region.To know about the Research Methodology:-Request Free Sample Report The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data, and projections with a suitable set of assumptions and methodology. The report also helps in understanding market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders prioritizing the efforts and investment in the near future to emerging segments in the market. The report study has analyzed the revenue impact of the COVID-19 pandemic on the sales revenue of market leaders, market followers, and disrupters in the report, and the same is reflected in our analysis.
Succinic Acid Market Overview:
Succinic is rising in concert with the foremost competitive bio primarily based chemicals. The US department of energy has enclosed succinic acid among the highest 12 value-added bio-based chemicals. Succinic Acid is an intermediate in several chemical processes and is used in the production of several products in a fragmented trade that has multiple players in this production process. The market shows a large potential of growth depended vastly on the sustainable production of bio-based succinic acid. Succinic acid is a chemical that has a sizeable number of applications starting from BDO, pharmaceuticals, food, polyurethanes, polymers, fibers, plasticizers to dyes and coatings. However, the foremost demand originates from coating, resins, BDO, plasticizers, and polyurethanes along with the food trade. Currently, there is a very less number of firms producing succinic acid in more amounts. Most of the companies are small-scale and with restricted capacity. The major drivers for the growth of the market are growing applications and movement of the chemical industry towards bio-based sustainable development in chemicals. One more driving factor is the increase in demand for a bio-based chemical. The use of succinic acid as starting raw material for the production of chemicals and consumer products with huge markets was the main driver that launched the development of technology for bio-based succinic acid production. Nevertheless, high processing costs and intense competition in the market are the key challenges. A bulk amount of production and an improvement in the production techniques are projected to address the cost possibility issue of the bio-succinic acid market.Regional Analysis:
Based on type, the petro-based segment is expected to be the largest contributor to the market growth during the forecast timeframe. Petro-based succinic acid is worthwhile and has better efficiency in comparison with bio-based type. Moreover, it can be widely used in the food & beverage industry. Greater cost and lower efficiency led to the reduced demand for bio-based succinic acid and resulted in the closure of major succinic acid manufacturing companies such as BioAmber, Myriant, and Succinity GmbH. In terms of Application, The growing demand for succinic acid is risen by its use for applications in industrial applications. Succinic acid is mostly used in PBS/PBST for food packaging, as these are non-toxic, biodegradable, and also have well heated resistance and processability in comparison to other biopolymers. The major drivers for the market are the increasing disposable income, changing customer lifestyle, widely use of plastics and the growing packaging industry. Geographically, Asia Pacific was the largest market for succinic acid with a market share of 41%, in terms of value, in 2022. Emerging nations like China, India, and Japan in this region together accounted for a share of 70%, in terms of value, in 2022. APAC is the largest and the fastest-growing market for succinic acid due to the rapid economic growth in the region, Moreover, the availability of low-cost labor, thereby, boosting the growth of major industries such as food & beverage, coating, chemical, and pharmaceutical which in turn, is driving the demand for succinic acid.Succinic Acid Market Key Highlights:
Global Succinic Acid Market analysis and forecast, in terms of value. Comprehensive study and analysis of market drivers, restraints and opportunities influencing the growth of the Global Succinic Acid Market Global Succinic Acid Market segmentation on the basis of type, source, end-user, and region (country-wise) has been provided. The Global Succinic Acid Market strategic analysis with respect to individual growth trends, future prospects along with the contribution of various sub-market stakeholders have been considered under the scope of study. Global Succinic Acid Market analysis and forecast for five major regions namely North America, Europe, Asia Pacific, the Middle East & Africa (MEA) and Latin America along with country-wise segmentation. Profiles of key industry players, their strategic perspective, market positioning and analysis of core competencies are further profiled. Competitive developments, investments, strategic expansion and competitive landscape of the key players operating in the Global Succinic Acid Market are also profiled.Succinic Acid Market Scope: Inquire before buying
Succinic Acid Market Report Coverage Details Base Year: 2022 Forecast Period: 2023-2029 Historical Data: 2018 to 2022 Market Size in 2022: US $ 159.79 Mn. Forecast Period 2023 to 2029 CAGR: 6.7% Market Size in 2029: US $ 251.60 Mn. Segments Covered: by Type Bio-Based Succinic Acid Petro-Based Succinic Acid by Application Food & Beverage Pharmaceutical Industrial Coatings Others Succinic Acid Market, by Region:
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC) Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe) North America (United States, Canada and Mexico) Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A) South America (Brazil, Argentina Rest of South America)Key Players are:
1. BioAmber 2. GC Innovation America 3. Succinity GmbH 4. Reverdia 5. Nippon Shokubai 6. Shandong Lixing Chemical 7. Kawasaki Kasei Chemicals 8. Anqing Hexing Chemical 9. Anhui Sunsing Chemicals 10. Gadiv Petrochemical Industries 11. Myriant Corporation 12. Showa Denko K.K. 13. Merck KGaA 14. FUSO CHEMICAL CO. LTD. 15. S.S. Pharmachem Frequently Asked Questions: 1. Which region has the largest share in Global Succinic Acid Market? Ans: Asia Pacific region held the highest share in 2022. 2. What is the growth rate of Global Succinic Acid Market? Ans: The Global Succinic Acid Market is growing at a CAGR of 6.7% during forecasting period 2023-2029. 3. What is scope of the Global Succinic Acid market report? Ans: Global Succinic Acid Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period. 4. Who are the key players in Global Succinic Acid market? Ans: The important key players in the Global Succinic Acid Market are – BioAmber, GC Innovation America, Succinity GmbH, Reverdia, Nippon Shokubai, Shandong Lixing Chemical, Kawasaki Kasei Chemicals, Anqing Hexing Chemical, Anhui Sunsing Chemicals, Gadiv Petrochemical Industries, Myriant Corporation, Showa Denko K.K., Merck KGaA, FUSO CHEMICAL CO. LTD., and S.S. Pharmachem 5. What is the study period of this market? Ans: The Global Succinic Acid Market is studied from 2022 to 2029.
Succinic Acid Market
1. Preface 1.1. Report Scope and Market Segmentation 1.2. Research Highlights 1.3. Research Objectives 2. Assumptions and Research Methodology 2.1. Report Assumptions 2.2. Abbreviations 2.3. Research Methodology 2.3.1. Secondary Research 2.3.1.1. Secondary data 2.3.1.2. Secondary Function 2.3.2. Primary Research 2.3.2.1. Data from Primary Function 2.3.2.2. Breakdown of Primary Function 3. Executive Summary: Succinic Acid Size, by Market Value (US$ Mn) and Market Volume (Units) 4. Market Overview 4.1. Introduction 4.2. Market Indicator 4.2.1. Drivers 4.2.2. Restraints 4.2.3. Opportunities 4.2.4. Challenges 4.3. Porter’s Analysis 4.4. Value Chain Analysis 4.5. Market Risk Analysis 4.6. SWOT Analysis 4.7. Industry Trends and Emerging Technologies 4.8. Patent Registration 5. Supply Side and Demand Side Indicators 6. Succinic Acid Market Analysis and Forecast 6.1. Succinic Acid Market Size & Y-o-Y Growth Analysis 6.1.1. North America 6.1.2. Europe 6.1.3. Asia Pacific 6.1.4. Middle East & Africa 6.1.5. South America 7. Succinic Acid Market Analysis and Forecast, by Type 7.1. Introduction and Definition 7.2. Key Findings 7.3. Succinic Acid Market Value Share Analysis, by Type 7.4. Succinic Acid Market Size (US$ Mn) Forecast, by Type 7.5. Succinic Acid Market Analysis, by Type 7.6. Succinic Acid Market Attractiveness Analysis, by Type 8. Succinic Acid Market Analysis and Forecast, by Application 8.1. Introduction and Definition 8.2. Key Findings 8.3. Succinic Acid Market Value Share Analysis, by Application 8.4. Succinic Acid Market Size (US$ Mn) Forecast, by Application 8.5. Succinic Acid Market Analysis, by Application 8.6. Succinic Acid Market Attractiveness Analysis, by Application 9. Succinic Acid Market Analysis, by Region 9.1. Succinic Acid Market Value Share Analysis, by Region 9.2. Succinic Acid Market Size (US$ Mn) Forecast, by Region 9.3. Succinic Acid Market Attractiveness Analysis, by Region 10. North America Succinic Acid Market Analysis 10.1. Key Findings 10.2. North America Succinic Acid Market Overview 10.3. North America Succinic Acid Market Value Share Analysis, by Type 10.4. North America Succinic Acid Market Forecast, by Type 10.4.1. Bio-Based Succinic Acid 10.4.2. Petro-Based Succinic Acid 10.5. North America Succinic Acid Market Value Share Analysis, by Application 10.6. North America Succinic Acid Market Forecast, by Application 10.6.1. Food & Beverage 10.6.2. Pharmaceuticals 10.6.3. Industrial 10.6.4. Coatings 10.6.5. Others 10.7. North America Succinic Acid Market Value Share Analysis, by Country 10.8. North America Succinic Acid Market Forecast, by Country 10.8.1. U.S. 10.8.2. Canada 10.9. North America Succinic Acid Market Analysis, by Country 10.10. U.S. Succinic Acid Market Forecast, by Type 10.10.1. Bio-Based Succinic Acid 10.10.2. Petro-Based Succinic Acid 10.11. U.S. Succinic Acid Market Forecast, by Application 10.11.1. Food & Beverage 10.11.2. Pharmaceuticals 10.11.3. Industrial 10.11.4. Coatings 10.11.5. Others 10.12. Canada Succinic Acid Market Forecast, by Type 10.12.1. Bio-Based Succinic Acid 10.12.2. Petro-Based Succinic Acid 10.13. Canada Succinic Acid Market Forecast, by Application 10.13.1. Food & Beverage 10.13.2. Pharmaceuticals 10.13.3. Industrial 10.13.4. Coatings 10.13.5. Others 10.14. North America Succinic Acid Market Attractiveness Analysis 10.14.1. By Type 10.14.2. By Application 10.15. PEST Analysis 10.16. Key Trends 10.17. Key Developments 11. Europe Succinic Acid Market Analysis 11.1. Key Findings 11.2. Europe Succinic Acid Market Overview 11.3. Europe Succinic Acid Market Value Share Analysis, by Type 11.4. Europe Succinic Acid Market Forecast, by Type 11.4.1. Bio-Based Succinic Acid 11.4.2. Petro-Based Succinic Acid 11.5. Europe Succinic Acid Market Value Share Analysis, by Application 11.6. Europe Succinic Acid Market Forecast, by Application 11.6.1. Food & Beverage 11.6.2. Pharmaceuticals 11.6.3. Industrial 11.6.4. Coatings 11.6.5. Others 11.7. Europe Succinic Acid Market Value Share Analysis, by Country 11.8. Europe Succinic Acid Market Forecast, by Country 11.8.1. Germany 11.8.2. U.K. 11.8.3. France 11.8.4. Italy 11.8.5. Spain 11.8.6. Rest of Europe 11.9. Europe Succinic Acid Market Analysis, by Country 11.10. Germany Succinic Acid Market Forecast, by Type 11.10.1. Bio-Based Succinic Acid 11.10.2. Petro-Based Succinic Acid 11.11. Germany Succinic Acid Market Forecast, by Application 11.11.1. Food & Beverage 11.11.2. Pharmaceuticals 11.11.3. Industrial 11.11.4. Coatings 11.11.5. Others 11.12. U.K. Succinic Acid Market Forecast, by Type 11.12.1. Bio-Based Succinic Acid 11.12.2. Petro-Based Succinic Acid 11.13. U.K. Succinic Acid Market Forecast, by Application 11.13.1. Food & Beverage 11.13.2. Pharmaceuticals 11.13.3. Industrial 11.13.4. Coatings 11.13.5. Others 11.14. France Succinic Acid Market Forecast, by Type 11.14.1. Bio-Based Succinic Acid 11.14.2. Petro-Based Succinic Acid 11.15. France Succinic Acid Market Forecast, by Application 11.15.1. Food & Beverage 11.15.2. Pharmaceuticals 11.15.3. Industrial 11.15.4. Coatings 11.15.5. Others 11.16. Italy Succinic Acid Market Forecast, by Type 11.16.1. Bio-Based Succinic Acid 11.16.2. Petro-Based Succinic Acid 11.17. Italy Succinic Acid Market Forecast, by Application 11.17.1. Food & Beverage 11.17.2. Pharmaceuticals 11.17.3. Industrial 11.17.4. Coatings 11.17.5. Others 11.18. Spain Succinic Acid Market Forecast, by Type 11.18.1. Bio-Based Succinic Acid 11.18.2. Petro-Based Succinic Acid 11.19. Spain Succinic Acid Market Forecast, by Application 11.19.1. Food & Beverage 11.19.2. Pharmaceuticals 11.19.3. Industrial 11.19.4. Coatings 11.19.5. Others 11.20. Rest of Europe Succinic Acid Market Forecast, by Type 11.20.1. Bio-Based Succinic Acid 11.20.2. Petro-Based Succinic Acid 11.21. Rest of Europe Succinic Acid Market Forecast, by Application 11.21.1. Food & Beverage 11.21.2. Pharmaceuticals 11.21.3. Industrial 11.21.4. Coatings 11.21.5. Others 11.22. Europe Succinic Acid Market Attractiveness Analysis 11.22.1. By Type 11.22.2. By Application 11.23. PEST Analysis 11.24. Key Trends 11.25. Key Developments 12. Asia Pacific Succinic Acid Market Analysis 12.1. Key Findings 12.2. Asia Pacific Succinic Acid Market Overview 12.3. Asia Pacific Succinic Acid Market Value Share Analysis, by Type 12.4. Asia Pacific Succinic Acid Market Forecast, by Type 12.4.1. Bio-Based Succinic Acid 12.4.2. Petro-Based Succinic Acid 12.5. Asia Pacific Succinic Acid Market Value Share Analysis, by Application 12.6. Asia Pacific Succinic Acid Market Forecast, by Application 12.6.1. Food & Beverage 12.6.2. Pharmaceuticals 12.6.3. Industrial 12.6.4. Coatings 12.6.5. Others 12.7. Asia Pacific Succinic Acid Market Value Share Analysis, by Country 12.8. Asia Pacific Succinic Acid Market Forecast, by Country 12.8.1. China 12.8.2. India 12.8.3. Japan 12.8.4. ASEAN 12.8.5. Rest of Asia Pacific 12.9. Asia Pacific Succinic Acid Market Analysis, by Country 12.10. China Succinic Acid market forecast, by Type 12.10.1. Bio-Based Succinic Acid 12.10.2. Petro-Based Succinic Acid 12.11. China Succinic Acid Market Forecast, by Application 12.11.1. Food & Beverage 12.11.2. Pharmaceuticals 12.11.3. Industrial 12.11.4. Coatings 12.11.5. Others 12.12. India Succinic Acid Market Forecast, by Type 12.12.1. Bio-Based Succinic Acid 12.12.2. Petro-Based Succinic Acid 12.13. India Succinic Acid Market Forecast, by Application 12.13.1. Food & Beverage 12.13.2. Pharmaceuticals 12.13.3. Industrial 12.13.4. Coatings 12.13.5. Others 12.14. Japan Succinic Acid Market Forecast, by Type 12.14.1. Bio-Based Succinic Acid 12.14.2. Petro-Based Succinic Acid 12.15. Japan Succinic Acid Market Forecast, by Application 12.15.1. Food & Beverage 12.15.2. Pharmaceuticals 12.15.3. Industrial 12.15.4. Coatings 12.15.5. Others 12.16. ASEAN Succinic Acid Market Forecast, by Type 12.16.1. Bio-Based Succinic Acid 12.16.2. Petro-Based Succinic Acid 12.17. ASEAN Succinic Acid Market Forecast, by Application 12.17.1. Food & Beverage 12.17.2. Pharmaceuticals 12.17.3. Industrial 12.17.4. Coatings 12.17.5. Others 12.18. Rest of Asia Pacific Succinic Acid Market Forecast, by Type 12.18.1. Bio-Based Succinic Acid 12.18.2. Petro-Based Succinic Acid 12.19. Rest of Asia Pacific Succinic Acid Market Forecast, by Application 12.19.1. Food & Beverage 12.19.2. Pharmaceuticals 12.19.3. Industrial 12.19.4. Coatings 12.19.5. Others 12.20. Asia Pacific Succinic Acid Market Attractiveness Analysis 12.20.1. By Type 12.20.2. By Application 12.21. PEST Analysis 12.22. Key Trends 12.23. Key Developments 13. Middle East & Africa Succinic Acid Market Analysis 13.1. Key Findings 13.2. Middle East & Africa Succinic Acid Market Overview 13.3. Middle East & Africa Succinic Acid Market Value Share Analysis, by Type 13.4. Middle East & Africa Succinic Acid Market Forecast, by Type 13.4.1. Bio-Based Succinic Acid 13.4.2. Petro-Based Succinic Acid 13.5. Middle East & Africa Succinic Acid Market Value Share Analysis, by Application 13.6. Middle East & Africa Succinic Acid Market Forecast, by Application 13.6.1. Food & Beverage 13.6.2. Pharmaceuticals 13.6.3. Industrial 13.6.4. Coatings 13.6.5. Others 13.7. Middle East & Africa Succinic Acid Market Value Share Analysis, by Country 13.8. Middle East & Africa Succinic Acid Market Forecast, by Country 13.8.1. GCC 13.8.2. South Africa 13.8.3. Rest of Middle East & Africa 13.9. Middle East & Africa Succinic Acid Market Analysis, by Country 13.10. GCC Succinic Acid Market Forecast, by Type 13.10.1. Bio-Based Succinic Acid 13.10.2. Petro-Based Succinic Acid 13.11. GCC Succinic Acid Market Forecast, by Application 13.11.1. Food & Beverage 13.11.2. Pharmaceuticals 13.11.3. Industrial 13.11.4. Coatings 13.11.5. Others 13.12. South Africa Succinic Acid Market Forecast, by Type 13.12.1. Bio-Based Succinic Acid 13.12.2. Petro-Based Succinic Acid 13.13. South Africa Succinic Acid Market Forecast, by Application 13.13.1. Food & Beverage 13.13.2. Pharmaceuticals 13.13.3. Industrial 13.13.4. Coatings 13.13.5. Others 13.14. Rest of Middle East & Africa Succinic Acid Market Forecast, by Type 13.14.1. Bio-Based Succinic Acid 13.14.2. Petro-Based Succinic Acid 13.15. Rest of Middle East & Africa Succinic Acid Market Forecast, by Application 13.15.1. Food & Beverage 13.15.2. Pharmaceuticals 13.15.3. Industrial 13.15.4. Coatings 13.15.5. Others 13.16. Middle East & Africa Succinic Acid Market Attractiveness Analysis 13.16.1. By Type 13.16.2. By Application 13.17. PEST Analysis 13.18. Key Trends 13.19. Key Developments 14. South America Succinic Acid Market Analysis 14.1. Key Findings 14.2. South America Succinic Acid Market Overview 14.3. South America Succinic Acid Market Value Share Analysis, by Type 14.4. South America Succinic Acid Market Forecast, by Type 14.4.1. Bio-Based Succinic Acid 14.4.2. Petro-Based Succinic Acid 14.5. South America Succinic Acid Market Value Share Analysis, by Application 14.6. South America Succinic Acid Market Forecast, by Application 14.6.1. Food & Beverage 14.6.2. Pharmaceuticals 14.6.3. Industrial 14.6.4. Coatings 14.6.5. Others 14.7. South America Succinic Acid Market Value Share Analysis, by Country 14.8. South America Succinic Acid Market Forecast, by Country 14.8.1. Brazil 14.8.2. Mexico 14.8.3. Rest of South America 14.9. South America Succinic Acid Market Analysis, by Country 14.10. Brazil Succinic Acid Market Forecast, by Type 14.10.1. Bio-Based Succinic Acid 14.10.2. Petro-Based Succinic Acid 14.11. Brazil Succinic Acid Market Forecast, by Application 14.11.1. Food & Beverage 14.11.2. Pharmaceuticals 14.11.3. Industrial 14.11.4. Coatings 14.11.5. Others 14.12. Mexico Succinic Acid Market Forecast, by Type 14.12.1. Bio-Based Succinic Acid 14.12.2. Petro-Based Succinic Acid 14.13. Mexico Succinic Acid Market Forecast, by Application 14.13.1. Food & Beverage 14.13.2. Pharmaceuticals 14.13.3. Industrial 14.13.4. Coatings 14.13.5. Others 14.14. Rest of South America Succinic Acid Market Forecast, by Type 14.14.1. Bio-Based Succinic Acid 14.14.2. Petro-Based Succinic Acid 14.15. Rest of South America Succinic Acid Market Forecast, by Application 14.15.1. Food & Beverage 14.15.2. Pharmaceuticals 14.15.3. Industrial 14.15.4. Coatings 14.15.5. Others 14.16. South America Succinic Acid Market Attractiveness Analysis 14.16.1. By Type 14.16.2. By Application 14.17. PEST Analysis 14.18. Key Trends 14.19. Key Developments 15. Company Profiles 15.1. Market Share Analysis, by Company 15.2. Competition Matrix 15.2.1. Competitive Benchmarking of key players by price, presence, market share, Applications and R&D investment 15.2.2. New Product Launches and Product Enhancements 15.2.3. Market Consolidation 15.2.3.1. M&A by Regions, Investment and Applications 15.2.3.2. M&A Key Players, Forward Integration and Backward Integration 15.3. Company Profiles: Key Players 15.3.1. BioAmber 15.3.1.1. Company Overview 15.3.1.2. Financial Overview 15.3.1.3. Product Portfolio 15.3.1.4. Business Strategy 15.3.1.5. Recent Developments 15.3.1.6. Manufacturing Footprints 15.3.2. GC Innovation America 15.3.3. Succinity GmbH 15.3.4. Reverdia 15.3.5. Nippon Shokubai 15.3.6. Shandong Lixing Chemical 15.3.7. Kawasaki Kasei Chemicals 15.3.8. Anqing Hexing Chemical 15.3.9. Anhui Sunsing Chemicals 15.3.10. Gadiv Petrochemical Industries 16. Primary Key Insights