Global Succinic Acid Market, by Type (Fossil Fuel Based & Bio-Based), by Application (Chemical Inter

Published Date: | Report Code : CH192093

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The  Succinic Acid Market is expected to promise high growth owing to increasing demand from the end chemical products & government initiatives on biobased products in recent years. Increasing demand from applications including chemical intermediate, food additives, plasticizers, fuel additives, and others are expected to drive the growth of the market.

Succinic acid is a bulk chemical and is a precursor of many important, large-volume industrial chemicals and consumer products. It can be produced from fossil fuels by catalytic hydrogenation of maleic anhydride and also from a biological process as succinic acid occurs in living organisms as an intermediate of the tricarboxylic acid cycle, and in some anaerobic organisms, succinic acid is excreted as an end product during anaerobic fermentation. It can be used as a de-icer, in the food and beverage industry, or as a building block for various commodity chemicals as well as biodegradable polymers such as polybutylene succinate and polybutylene succinate adipate. Currently, Succinic acid is mainly produced from fossil fuels, but biological processes for succinic acid production may become more economically competitive with increases in fossil fuel prices. Succinic acid is used as an intermediate for dyes, perfumes, lacquers, photographic chemicals, alkyd resins, plasticizers, metal treatment chemicals, and coatings.

Segment Insights

The demand for succinic acid is mainly due to its use as a chemical intermediate in the production of 1,4-butanediol (BDO), which is the building block for polyurethanes and for resins & plasticizers. Among the type of succinic acid bio-based succinic acid is expected to drive the market due to various environmental and health-related issues with the fossil-based succinic acid.

Some of the key Impact Factors:

  • Increasing demand from the end chemical products
  • Government initiatives on biobased products
  • Use of succinic acid in medicines

Regional Analysis

On the basis of the region, the succinic acid market has been segmented by North America, Western Europe, Eastern Europe, Asia Pacific, Middle East, & Rest of the World. North America and Western Europe are some of the major markets that are also traditional suppliers of chemicals such as specialty chemicals, bulk chemicals, and so on. Major companies in this market are headquartered in North America and Western Europe.  This region has been witnessing a number of transitions in terms of productions of chemicals and respective applications by end-use industries. The preference towards bio-based feedstock has been instrumental in the development of the green alternatives in these regions. Moreover, regulatory authorities have imposed strict guidelines with regard to environmental concerns and potential health hazards due to exposures. This has been more instrumental in the Western Europe region competitively. Some of the major economies in these regions include the US, Germany, UK, France, Canada, Italy, Spain, and so on.

The Asia Pacific and the Middle East are expected to register substantial growth in the succinic acid market during the forecast period. This demand is with regard to the growth of major end-use industries/Applications such as chemical intermediate, food additives, plasticizers, fuel additives, and others. Major countries in the Asia Pacific region include China, South Korea, Japan, India, Australia, and so on. Middle East includes the UAE, Saudi Arabia, Iran, Israel, Egypt, and so on. Eastern Europe has been largely dominated by Russia and Turkey with operations of major chemical giants in the region.  Rest the World that includes South America and Africa has a strong potential for the succinic acid market. There has been an increasing number of investments by global companies in these regions to strengthen their presence and tap the potential market. Major economies in these regions for the succinic acid market include Brazil, South Africa, Nigeria, Argentina, Colombia, and others.

Companies Covered: Nippon Shokubai, BioAmber, GC Innovation America, Succinity GmbH, Kawasaki Kasei Chemicals.

Market Segmentation:

By Type:

  • Fossil Fuel Based
  • Bio-Based

By Application:

  • Chemical Intermediate
  • Food Additives
  • Plasticizers
  • Fuel Additives
  • Others

By End-Use Industry:

  • Chemical
  • Pharmaceuticals
  • Food & Beverage
  • Personal Care
  • Others

By Region:

  • North America
    • By Country (US, Canada, Mexico)
    • By Type
    • By Application
    • By End-Use Industry
  • Western Europe
    • By Country (Germany, UK, France, Italy, Spain, Rest of Western Europe)
    • By Type
    • By Application
    • By End-Use Industry
  • Eastern Europe
    • By Country (Russia, Turkey, Rest of Eastern Europe)
    • By Type
    • By Application
    • By End-Use Industry
  • Asia Pacific
    • By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
    • By Type
    • By Application
    • By End-Use Industry
  • Middle East
    • By Country (UAE, Saudi Arabia, Qatar, Iran, Rest of Middle East)
    • By Type
    • By Application
    • By End-Use Industry
  • Rest of the World
    • By Region (South America, Africa)
    • By Type
    • By Application
    • By End-Use Industry

Reasons to buy this report:

  • Market size estimation of the succinic acid market on a regional and global basis
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  • Profiling of the major companies operating in the market with key developments
  • Broad scope to cover all the possible segments helping every stakeholder in the market

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