The Global Market for Succinic Acid is Projected to Reach US$1.1 Billion by 2022

Encouraging Demand for Bio-Succinic Acid to Drive the Market for Succinic Acid, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Succinic Acid market. The global market for Succinic Acid is projected to reach US$1.1 billion by 2022, driven by encouraging demand for bio-based succinic acid and expanding applications in various industries.

Succinic acid, also known as amber acid, or  Spirit of Amber, is a critical intermediate chemical used in the manufacture of high-value and high-volume chemicals. Succinic acid represents an essential building block for manufacture of plasticizers, polybutylene succinate (PBS), resins, and polyurethanes. The chemical finds increased application in various end-use sectors including food & beverages, cosmetics, industrial manufacturing, and pharmaceuticals.  While demand for petroleum based succinic acid continues to be impacted by rising raw material prices and environmental concerns, the industry stands to gain from the emergence of bio-based succinic acid as a replacement.  The growth in the bio-based succinic acid market is mainly due to its attributes including cost benefits, low carbon footprint, and reduced price volatility as compared to fossil fuel-based alternatives. A major driving force for the bio-based succinic acid market is the growing need for green substitutes for chemicals used in the production of polymers and other complex derivatives. The commercial success of bio-succinic acid as a raw material in production of BDO and emerging applications in manufacture of polymers and food and beverages is expected to translate into significant growth opportunities for the succinic acid market. In addition, bio-based succinic acid holds the potential to replace adipic acid in polyester polyols and plasticizers. Market growth is also driven by technological advancements, developmental strategies, new capacity expansion projects,  and improved R&D  investments by players.

As stated by the new market research report on Succinic Acid, Europe represents the largest market worldwide. Asia-Pacific ranks as the fastest growing market at a CAGR of 24.9% over the analysis period. The growth in the market is led by rapid growth of downstream industries in countries such as India and China and fast-paced economic growth and increased activity in end-use sectors such as food & beverage, personal care, pharmaceuticals and industrial manufacturing among others.

Major players covered in the report include Anhui Sunsing Chemicals Co. Ltd, Anqing Hexing Chemical Co. Ltd., BASF SE, Succinity GmbH, BioAmber Inc., Gadiv Petrochemical Industries Ltd., Kawasaki Kasei Chemicals Ltd., Linyi Lixing Chemical Co. Ltd., Mitsui & Co. Ltd., Myriant Technologies LLC, Nippon Shokubai Co., and Reverdia Ltd, among others.

The research report titled "Succinic Acid: A Global Strategic Business Report" announced by Global Industry Analysts, Inc., provides a comprehensive review of trends, issues, strategic industry activities, and profiles of major companies worldwide. The report provides market estimates and projections for geographic markets such as the United States, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India and Rest of Asia-Pacific), Latin America (Brazil and Rest of Latin America) and Rest of World. End-use application markets analyzed include BDO, Food, Pharmaceuticals, PBS/PBST, Polyester Polyols, and Others.


Global Industry Analysts, Inc. 6150 Hellyer Ave., San Jose CA 95138, USA, All Rights Reserved.

Comments

Post a Comment

Popular posts from this blog

The Global Market for Big Data Technologies and Services is Projected to Reach $60 Billion by 2022

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Big Data market. The global market for Big Data Technologies and Services is projected to reach $60 billion by 2022 , driven by soaring digital data volumes in organizations and the resulting need to turn this data into valuable insights for enhancing operational efficiency, tapping new opportunities and gaining competitive edge. Defined as a natural result of mankind’s obsession with information technology and digitalization, “Big Data” refers to extremely large sets of structured, semi-structured and unstructured data of different types, including text, audio or video, generated from diverse data sources that has the potential to be mined for required information. While data supply associated with big data ecosystem has always been large and voluminous in most organizations, the ability to use these large datasets and convert them into meaningf
Read more

The Global Market for Surfing is Projected to Reach US$9.5 Billion by 2022

Rise of Surfing as a Lifestyle Sport Among all Age Groups Drives the Global Surfing Market, According to a New Report by Global Industry Analysts, Inc. GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Surfing market. The global market for Surfing is projected to reach US$9.5 billion by 2022 , driven by the growing interest in surfing both as a leisure and sporting activity, increased accessibility to surfing through surf parks and surf pools and technology innovations focused on developing sophisticated surf-wear and surf-gear.                               Surfing is a surface water sport where a participant riding a board (the surfboard) is carried away by a breaking wave. The surfing industry continues to evolve, driven by sustained efforts of surfing equipment makers, marketers and associations to make surfing much more accessible. Increased accessibility and affordability has drawn si
Read more

The Global Market for Private Tutoring Services is Forecast to Reach US$227 Billion by 2022

Intense Competition among Students and the Growing Need to Achieve Academic Excellence Drive the Global Private Tutoring Market, According to a New Report by Global Industry Analysts, Inc. GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Private Tutoring market. The global market for Private Tutoring Services is forecast to reach US$227 billion by 2022 , driven by the need to keep pace with classroom teaching, improve overall competency and enhance knowledge and skill level. Education is considered the social ladder to achieve success in personal and professional life. Higher education is associated with increased opportunities in the labor market, high remunerations, and improved social standing. People are therefore investing heavily in children’s education, including private tutoring or private supplementary tutoring which is emerging as a major phenomenon in the global education system
Read more