Succinic Acid Market Poised to Reach USD 251.60 Million by 2029, Marking a Strong 6.7% CAGR


Unveiling Growth Trajectory: Comprehensive Analysis of the Global Succinic Acid Market

Succinic Acid Market Values:

The thriving Global Succinic Acid Market, which was valued at $159.79 million in 2022, is anticipated to attain a remarkable valuation of $251.60 million by 2029. This growth is projected to transpire at a robust compound annual growth rate (CAGR) of 6.7% during the forecast period.

Succinic Acid Market Report Scope and Research Methodology

Report Scope:

This all-encompassing report delves into the depths of the Global Succinic Acid Market, encapsulating a range of aspects such as COVID-19 impact assessment, regional and segmental perspectives, research methodology, key drivers, restraints, and comprehensive insights.

Research Methodology:

Leveraging authoritative sources including PEST analysis, PORTER’s analysis, SWOT analysis, and rigorous primary and secondary research, this report offers an in-depth understanding of the market’s dynamics and structure. Competitive analysis, historical data, industry-validated market data, and projections with accurate assumptions contribute to a holistic assessment of the market landscape.

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What are Succinic Acid Market Dynamics?

Market Drivers and Restraints

The market’s remarkable growth is propelled by a surge in applications, the shift towards sustainable bio-based chemical development, and increased demand for bio-based chemicals. Nevertheless, challenges arise from high processing costs and fierce market competition.

What is Succinic Acid Market Segmentation?

Succinic Acid Market by Type

Bio-Based Succinic Acid
Petro-Based Succinic Acid

According to type, the petro-based sector is anticipated to contribute most to market growth over the anticipated period. In comparison to bio-based succinic acid, petroleum-based succinic acid is valuable and more effective. Furthermore, the food and beverage industries can make extensive use of it. Due to higher costs and decreased efficiency, there was a decline in the demand for bio-based succinic acid, which led to the closure of significant succinic acid producers as BioAmber, Myriant, and Succinity GmbH.

Succinic Acid Market by Application

Food & Beverage

Regarding Application, Because of its use in industrial applications, succinic acid is in higher demand. Since PBS and PBST are non-toxic, biodegradable, and also have better heat resistance and processability than other materials, succinic acid is primarily used in these materials for food packaging.

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 Who are Succinic Acid Market Key Players?

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
15. S.S. Pharmachem

Key Highlights of the Succinic Acid Market:

Comprehensive analysis and forecast of the Global Succinic Acid Market’s value.
In-depth examination of market drivers, restraints, and opportunities that shape market growth.
Segmentation of the Global Succinic Acid Market based on type, source, end-user, and region, providing a comprehensive understanding of market dynamics.
Strategic analysis of individual growth trends, future prospects, and sub-market stakeholders’ contributions.
Geographical analysis and country-wise segmentation across five major regions: North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America.
Profiles of key industry players, offering insights into their strategic perspectives, market positioning, and core competencies.
Competitive developments, investments, strategic expansions, and the competitive landscape of major players in the Global Succinic Acid Market.

Table of content for the Succinic Acid Market includes:

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 Secondary data Secondary Function
2.3.2. Primary Research Data from Primary Function 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

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Regional Insights:

Asia-Pacific: The region leads the global succinic acid market, boasting a 41% market share in 2022. Emerging economies such as China, India, and Japan collectively contributed a substantial 70% share to the market. Rapid economic growth, a skilled labor force, and flourishing industries like food & beverage, coatings, chemicals, and pharmaceuticals drive succinic acid demand in this region.

Key Offerings:

  • Past Market Size and Competitive Landscape (2018 to 2021)
  • Past Pricing and price curve by region (2018 to 2021)
  • Market Size, Share, Size & Forecast by different segment | 2022−2029
  • Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
  • Market Segmentation – A detailed analysis by Product
  • Competitive Landscape – Profiles of selected key players by region from a strategic perspective
  • Competitive landscape – Market Leaders, Market Followers, Regional player
  • Competitive benchmarking of key players by region
  • PESTLE Analysis
  • PORTER’s analysis
  • Value chain and supply chain analysis
  • Legal Aspects of business by region
  • Lucrative business opportunities with SWOT analysis
  • Recommendations

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