The global demand for Succinic Acid Market is presumed to reach the valuation of nearly USD XX MN by 2026 from USD XX MN in 2021 with a CAGR of XX% under the study period of 2019- 2026. Whereas with regards to volume, the market was calculated XX KT in 2021 and foreseen to touch XX KT by 2028 with a CAGR of XX% during 2020-2026.
The succinic acidalso called as spirit of amber is a dicarboxylic acid obtained from amber. The name is derived from a Latin word Succinum which means amber. It is a white odorless solid with acidic taste. Due to its diprotic nature it undergoes two successive deprotonationreactions. Succinic acid can be obtained industrially by hydrogenation of maleic acid, oxidation of 1,4, Butanediol and carbonylation of ethylene glycol. It can also be obtained from butane and maleic anhydride. Succinic acid can also be produced biologically with the help of Escherichia coli and Saccharomyces cerevisiae via fermentation. Succinic acid is a precursor for polyesters, alkyd resins and certain biodegradable polymers like PBS and PBST. It is also used as a dietary supplement and food additive primarily as an acidity regulator. Succinate is a vital intermediate in the Tricarboxylic cycle (TCA) which is a metabolic pathway of production of chemical energy in presence of O2.
The use of succinic acid as substitute of certain chemicals like adipic acid is driving the market. Attributed to the superior properties like bio-degradable, non-toxic nature, and better heat resistance there has been rise in use of PBS and PBST for food-packaging which substantially is increasing the demand for succinic acid. Moreover, Thegrowing awareness about the emission of greenhouse gases is leading consumers to use bio-degradable polymers like PBS is likely to boost the market. Rising technological advancements and extensive R&D in the pharmaceuticals is increasing the demand for succinic acid in pharmaceutical sector. For instance, succinic acid stimulates the nervous system and relieves stress and anxiety. It eliminates the root cause of stress by stimulating the brain cells. However, production of succinic acid and its derivatives for end-use and as intermediates involves high investment which is likely hamper the market growth.
The report covers Porter’s Five Forces Model, Market Attractiveness Analysis and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level.
Additionally, these tools also give inclusive assessment of each application/product segment in the global market of Succinic Acid.
The entireSuccinic Acid market has been sub-categorized into type & end-use industry. The report provides an analysis of these subsets with respect to the geographical segmentation. This research study will keep marketer informed and helps to identify the target demographics for a product or service.
By End-Use Industry
- Food & Beverage
This section covers regional segmentation which accentuates on current and future demand for market Succinic Acid across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand for individual application segment across all the prominent regions.
Global Succinic Acid Market Share by Region (Representative Graph
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in theSuccinic Acid market include BioAmber (Canada), GC Innovation America (US), Succinity GmbH (Germany), Reverdia (Netherlands), Nippon Shokubai (Japan), Shandong Lixing Chemical (China), Kawasaki Kasei Chemicals (Japan), Anqing Hexing Chemical (China), Anhui Sunsing Chemicals (China), and Gadiv Petrochemical Industries.This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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