The Global Market for Succinic Acid is Projected to Reach 654 Thousand Tonnes Valued at US$3.5 Billion by 2020
Surging Popularity of Green Chemicals Drives Demand for Succinic Acid, According to a New Report by Global Industry Analysts, Inc. GIA announces the release of a comprehensive global report on Succinic Acid. The global market for Succinic Acid is projected to reach 654 thousand tonnes valued at US$3.5 billion by 2020 , driven by the increasing popularity of bio-based succinic acid. Succinic acid is a key building block for a wide range of secondary chemicals used in the chemical, pharmaceutical, food, and agricultural industries. Increasing need for green chemicals, as substitutes for conventional chemicals, for producing polymers and other complex derivatives is driving demand for bio-succinic acid. Efforts to expand production capacity of bio-succinic acid will help foster market growth in the coming years. Increasing use of succinic acid as a building block in 1, 4 Butanediol (BDO) and various other high-value and high-volume chemicals is also helping drive growth in the m...