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The global succinic acid market size was valued at USD 138 million in 2017. This increase is strongly driven by the increase in the number of new applications in the pharmaceutical and food industries. Strong demand from Asia Pacific is also expected to fuel the growth of the global succinic acid market owing to strong growth prospects of various end-use industries in the region.
Key players have been adopting various growth strategies such as partnership, agreement, and expansion, to enhance their current position in the global succinic acid market. For instance, in August 2015, BioAmber Inc. announced the opening of its jointly built BioAmber Sarnia plant with Mitsui & Co., Ltd. The new plant uses innovative biotechnology and produces bio-based succinic acid from glucose from agricultural suppliers in southern Ontario. The BioAmber Sarnia plant is the largest succinic acid production facility in the world and is competitive globally while increasing the sustainability of chemicals.
Succinic acid is an intermediate chemical that demonstrates strong demand. It is a building block used for the manufacture of a wide range of specialty and commodity chemicals, such as foods, polymers, metals, pharmaceuticals, cosmetics, fibers, lubricating oils, solvents, coatings, and diesel fuel oxygenates among others. This chemical is produced by mixed-acid carbohydrate fermentation in a process that also produces other valuable chemicals such as acetic acid, formic acid, lactic acid, and alcohol. Succinic acid can be produced by conventional (crude oil-based) method and by biological route.
The global succinic acid market analysis shows that polyurethanes held a market share of more than 10%, both by revenue and volume, in 2017 in the and is projected to be the second fastest growing segment during the forecast period. Growing residential and commercial construction spending in emerging countries is likely to be the key driving factor behind the growth of the segment.
Polyurethanes are used in artificial leather, alkyd resins, and thermoplastics as a coating material to maintain the performance and quality of the coated materials under extreme weather conditions and UV radiation, to provide weathering resistivity, abrasion resistance, and chemicals. The cost-effective solutions with long-term durability are driving the demand for succinic acid in the polyurethane application segment. The growth of polyurethane is driven by significant demand for polyurethane foams from emerging economies like China, India, Thailand, Malaysia, and Indonesia. Additionally, factors such as increasing construction activities, electronics, automotive and aerospace sector are boosting the global polyurethane market demand across the globe.
Furthermore, food application is also expected to offer growth opportunities during the forecast period. Succinic acid is used in the food industry as a flavoring agent to regulate acidity. Succinic acid is also used to improve shelf life. Its preserving properties include the inhibition of the growth of many bacteria, mold and yeast strains. The global succinic acid market demand for food stood at 19.7 kilo tons in 2017.
Asia Pacific is projected to contribute to approximately 32% of the revenues generated in the global succinic acid market by 2025 and is projected to grow at a CAGR of 8.2% during the forecast year. The growth of food & beverage, pharmaceutical, and coating industries in China, India, and Southeast Asian countries have played an important role in augmenting the succinic acid market demand in the region. These industries are growing due to increasing per capita spending and rapid urbanization. Improving construction and infrastructure industry in emerging economies are likely to propel demand for resins, coatings, and polyurethanes, which in turn is expected to drive market growth. The region is expected to witness a high demand for succinic acid on account of the relaxed regulatory environment in countries including India and China.
The growing demand from the automotive, personal care and pharmaceutical industries coupled with environment protecting regulations offers the bio-based succinic acid market a great opportunity to continue its rapid growth. In addition, the product is an intermediate and biodegradable product and has therefore been widely accepted by industry for various purposes, including paints, food packaging, and polymer resins.
The global succinic acid market analysis covers the players having a regional and global presence. Companies including BioAmber, GC Innovation America, Reverdia, Kawasaki Kasei Chemicals, Anqing Hexing Chemical, Nippon Shokubai Co., Ltd., Mitsubishi Chemical Corporation, SHOWA DENKO K.K., and Anhui Sunsing Chemicals Co. Ltd among others have a broader presence within the global succinic acid market.
Key segments of the global succinic acid market
Application Overview, 2015-2025 (Kilo Tons) (USD Million)
Regional Overview, 2015-2025 (Kilo Tons) (USD Million)
Key Players analysed in the report include
Reasons for the study
What does the report include?
Who should buy this report?
This study is suitable for industry participants and stakeholders in the global succinic acid market, who want an in-depth insight into the movement of the global succinic acid market. The report will benefit:
The global succinic acid market size was valued at USD 138 million in 2017. This increase is strongly driven by the increase in the number of new applications in the pharmaceutical and food industries. Strong demand from Asia Pacific is also expected to fuel the growth of the global succinic acid market owing to strong growth prospects of various end-use industries in the region.
Key players have been adopting various growth strategies such as partnership, agreement, and expansion, to enhance their current position in the global succinic acid market. For instance, in August 2015, BioAmber Inc. announced the opening of its jointly built BioAmber Sarnia plant with Mitsui & Co., Ltd. The new plant uses innovative biotechnology and produces bio-based succinic acid from glucose from agricultural suppliers in southern Ontario. The BioAmber Sarnia plant is the largest succinic acid production facility in the world and is competitive globally while increasing the sustainability of chemicals.
Succinic acid is an intermediate chemical that demonstrates strong demand. It is a building block used for the manufacture of a wide range of specialty and commodity chemicals, such as foods, polymers, metals, pharmaceuticals, cosmetics, fibers, lubricating oils, solvents, coatings, and diesel fuel oxygenates among others. This chemical is produced by mixed-acid carbohydrate fermentation in a process that also produces other valuable chemicals such as acetic acid, formic acid, lactic acid, and alcohol. Succinic acid can be produced by conventional (crude oil-based) method and by biological route.
The global succinic acid market analysis shows that polyurethanes held a market share of more than 10%, both by revenue and volume, in 2017 in the and is projected to be the second fastest growing segment during the forecast period. Growing residential and commercial construction spending in emerging countries is likely to be the key driving factor behind the growth of the segment.
Polyurethanes are used in artificial leather, alkyd resins, and thermoplastics as a coating material to maintain the performance and quality of the coated materials under extreme weather conditions and UV radiation, to provide weathering resistivity, abrasion resistance, and chemicals. The cost-effective solutions with long-term durability are driving the demand for succinic acid in the polyurethane application segment. The growth of polyurethane is driven by significant demand for polyurethane foams from emerging economies like China, India, Thailand, Malaysia, and Indonesia. Additionally, factors such as increasing construction activities, electronics, automotive and aerospace sector are boosting the global polyurethane market demand across the globe.
Furthermore, food application is also expected to offer growth opportunities during the forecast period. Succinic acid is used in the food industry as a flavoring agent to regulate acidity. Succinic acid is also used to improve shelf life. Its preserving properties include the inhibition of the growth of many bacteria, mold and yeast strains. The global succinic acid market demand for food stood at 19.7 kilo tons in 2017.
Asia Pacific is projected to contribute to approximately 32% of the revenues generated in the global succinic acid market by 2025 and is projected to grow at a CAGR of 8.2% during the forecast year. The growth of food & beverage, pharmaceutical, and coating industries in China, India, and Southeast Asian countries have played an important role in augmenting the succinic acid market demand in the region. These industries are growing due to increasing per capita spending and rapid urbanization. Improving construction and infrastructure industry in emerging economies are likely to propel demand for resins, coatings, and polyurethanes, which in turn is expected to drive market growth. The region is expected to witness a high demand for succinic acid on account of the relaxed regulatory environment in countries including India and China.
The growing demand from the automotive, personal care and pharmaceutical industries coupled with environment protecting regulations offers the bio-based succinic acid market a great opportunity to continue its rapid growth. In addition, the product is an intermediate and biodegradable product and has therefore been widely accepted by industry for various purposes, including paints, food packaging, and polymer resins.
The global succinic acid market analysis covers the players having a regional and global presence. Companies including BioAmber, GC Innovation America, Reverdia, Kawasaki Kasei Chemicals, Anqing Hexing Chemical, Nippon Shokubai Co., Ltd., Mitsubishi Chemical Corporation, SHOWA DENKO K.K., and Anhui Sunsing Chemicals Co. Ltd among others have a broader presence within the global succinic acid market.
Key segments of the global succinic acid market
Application Overview, 2015-2025 (Kilo Tons) (USD Million)
Regional Overview, 2015-2025 (Kilo Tons) (USD Million)
Key Players analysed in the report include
Reasons for the study
What does the report include?
Who should buy this report?
This study is suitable for industry participants and stakeholders in the global succinic acid market, who want an in-depth insight into the movement of the global succinic acid market. The report will benefit:
Chapter 1. Executive Summary
Chapter 2. Research Methodology
2.1. Research approach
2.2. Scope, definition, and assumptions
2.3. Data sources
Chapter 3. Market Outlook
3.1. Introduction
3.2. Key trends
3.2.1. Market Drivers
3.2.2. Market Restraints
3.2.3. Market Opportunities
3.3. Porter’s Five Forces analysis
3.4. Value chain analysis
Chapter 4. Global Succinic Acid Market Overview, By Application
4.1. Global Succinic Acid Market Share, by Application, 2017 & 2025
4.2. 1,4 Butanediol
4.2.1. Market size and projections, 2015– 2025
4.3. Resins, Coatings, Dying, and Inks
4.3.1. Market size and projections, 2015– 2025
4.4. Pharmaceutical
4.4.1. Market size and projections, 2015– 2025
4.5. Polyurethanes
4.5.1. Market size and projections, 2015– 2025
4.6. Food
4.6.1. Market size and projections, 2015– 2025
4.7. Plasticizers
4.7.1. Market size and projections, 2015– 2025
4.8. Cosmetics
4.8.1. Market size and projections, 2015– 2025
4.9. Solvent and Lubricants
4.9.1. Market size and projections, 2015– 2025
4.10. De-icing Solutions
4.10.1. Market size and projections, 2015– 2025
4.11. Others
4.11.1. Market size and projections, 2015– 2025
Chapter 5. Global Succinic Acid Market Overview, By Region
5.1.1. Global Succinic Acid Market Share, by region, 2017 & 2025
5.1.2. North America
5.1.2.1. Market size and projections, 2015-2025
5.1.2.2. Market size and projections, by application 2015-2025
5.1.2.3. U.S.
5.1.2.3.1. Market size and projections, by application 2015-2025
5.1.2.4. Canada
5.1.2.4.1. Market size and projections, by application 2015-2025
5.1.3. Europe
5.1.3.1. Market size and projections, 2015-2025
5.1.3.2. Market size and projections, by application 2015-2025
5.1.3.3. Germany
5.1.3.3.1. Market size and projections, by application 2015-2025
5.1.3.4. France
5.1.3.4.1. Market size and projections, by application 2015-2025
5.1.3.5. UK
5.1.3.5.1. Market size and projections, by application 2015-2025
5.1.3.6. Rest of Europe
5.1.3.6.1. Market size and projections, by application 2015-2025
5.1.4. Asia Pacific
5.1.4.1. Market size and projections, 2015-2025.
5.1.4.2. Market size and projections, by application 2015-2025
5.1.4.3. India
5.1.4.3.1. Market size and projections, by application 2015-2025
5.1.4.4. China
5.1.4.4.1. Market size and projections, by application 2015-2025
5.1.4.5. Japan
5.1.4.5.1. Market size and projections, by application 2015-2025
5.1.4.6. Rest of APAC
5.1.4.6.1. Market size and projections, by application 2015-2025
5.1.5. Latin America
5.1.5.1. Market size and projections, 2015-2025
5.1.5.2. Market size and projections, by application 2015-2025
5.1.5.3. Brazil
5.1.5.3.1. Market size and projections, by application 2015-2025
5.1.5.4. Rest of LATAM
5.1.5.4.1. Market size and projections, by application 2015-2025
5.1.6. Middle East and Africa
5.1.6.1. Market size and projections, 2015-2025
5.1.6.2. Market size and projections, by application 2015-2025
5.1.6.3. Saudi Arabia
5.1.6.3.1. Market size and projections, by application 2015-2025
5.1.6.4. Rest of MEA
5.1.6.4.1. Market size and projections, by application 2015-2025
Chapter 6. Competitive Landscape
6.1. Company market share/ top player positioning, 2017
6.2. Competitive strategies
Chapter 7. Company Profiles
7.1. BioAmber
7.1.1. Company overview
7.1.2. Product portfolio
7.1.3. Key developments
7.1.4. Financial performance
7.2. GC Innovation America
7.2.1. Company overview
7.2.2. Product portfolio
7.2.3. Key developments
7.2.4. Financial performance
7.3. Reverdia
7.3.1. Company overview
7.3.2. Product portfolio
7.3.3. Key developments
7.3.4. Financial performance
7.4. Kawasaki Kasei Chemicals
7.4.1. Company overview
7.4.2. Product portfolio
7.4.3. Key developments
7.4.4. Financial performance
7.5. Anqing Hexing Chemical
7.5.1. Company overview
7.5.2. Product portfolio
7.5.3. Key developments
7.5.4. Financial performance
7.6. Nippon shokubai Co., Ltd.
7.6.1. Company overview
7.6.2. Product portfolio
7.6.3. Key developments
7.6.4. Financial performance
7.7. Mitsubishi Chemical Corporation
7.7.1. Company overview
7.7.2. Product portfolio
7.7.3. Key developments
7.7.4. Financial performance
7.8. Showa Denko K.K.
7.8.1. Company overview
7.8.2. Product portfolio
7.8.3. Key developments
7.8.4. Financial performance
7.9. Anhui Sunsing Chemicals Co., Ltd.
7.9.1. Company overview
7.9.2. Product portfolio
7.9.3. Key developments
7.9.4. Financial performance