Succinic Acid Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET INTRODUCTION

Succinic acid is a dicarboxylic acid with the general chemical formula (CH2)2(CO2H2)2. Succinic acid is present as an anion known as the succinate in the human body, which has multiple biological roles and acts as a metabolic intermediate. Succinic acid is present as a white and odorless solid and has an acidic taste. Succinic acid is not harmful but is irritant to skin and eyes. On oxidation, succinic acid forms fumaric acid, or it can also be converted into diesters such as diethylsuccinate whereas dehydration of succinic acid forms succinic anhydride. There has been an increasing demand for succinic acid particularly in the Asia-Pacific region that is favoring the market of succinic acid globally also.

MARKET DYNAMICS

The succinic acid market is assumed to grow in the forecast considering the increasing demand in the Asia-Pacific region. However, the high cost involved in the production of succinic acid might restrict the growth of the succinic acid market. On the other hand, the increasing potential in the applications of succinic acid is likely to showcase growth opportunities for the succinic acid market during the forecast period.

MARKET SCOPE

The "Global Succinic acid Market Analysis to 2031" is a specialized and in-depth study of the chemicals and materials industry with a special focus on the global market trend analysis. The report aims to provide an overview of succinic acid market with detailed market segmentation by type, end-use industry, and geography. The global succinic acid market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading succinic acid market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

The global succinic acid market is segmented on the basis of type, and end-use industry. Based on type, the market is segmented as petro-based succinic acid and bio-based succinic acid. On the basis of end-use industry, the market is segmented as industrial, coating, food & beverages, pharmaceutical, and others.

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global succinic acid market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The succinic acid market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting succinic acid market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South & Central America after evaluating political, economic, social and technological factors affecting the succinic acid market in these regions.

MARKET PLAYERS

The reports cover key developments in the succinic acid market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved the way for the expansion of business and customer base of market players. The market payers from succinic acid market are anticipated to lucrative growth opportunities in the future with the rising demand for succinic acid in the global market. Below mentioned is the list of few companies engaged in the succinic acid market.

The report also includes the profiles of key succinic acid companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of the last three years, key developments in the past five years.

•  Anhui Sunsing Chemicals
•  Anqing Hexing Chemical
•  BASF SE
•  Gc Innovation America
•  Kawasaki Kasei Chemicals
•  Myriant Corporation
•  Nippon Shokubai
•  Reverdia
•  Spectrum Chemical Manufacturing Corp.
•  Succinity

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Succinic Acid Report Scope