Lucintel Forecasts Succinic Acid Market To Grow At A Cagr Of 28% From 2019 To 2024

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According to the recent study the Succinic Acid Market is projected to grow at a CAGR of 28% from 2019 to 2024. Growth in this market is primarily driven by growing awareness of bio-based renewable substitutes, stringent government regulations, and increasing use of succinic acid as a substitute of adipic acid in polyurethane production.
Browse XX figures / charts and XX tables in this 150 -page report to understand trends, opportunities and forecast in succinic acid market by product type (bio-based and petro-based), application (polyurethane, resins, coatings & pigments, pharmaceuticals, plasticizers, food & beverage, PBS/PBT, solvents & lubricants, de-icer solutions, personal care, and others), end use industry (industrial, food & beverage, coatings, and pharmaceutical), and region (North America, Europe, Asia Pacific, and the Rest of the World).
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“Petro-based market is expected to remain the largest segment during the forecast period.”
Based ...
... on product type, the succinic acid market is segmented into bio-based and petro-based), application (polyurethane, resins, coatings & pigments, pharmaceuticals, plasticizers, food & beverage, PBS/PBT, solvents & lubricants, de-icer solutions, personal care, and others. Lucintel forecasts that the petro-based market is expected to remain the largest segment.
“Within the succinic acid market, the industrial segment is expected to remain the largest end use industry.”
Based on end use industry the industrial segment is expected to witness the highest growth over the forecast period.
“Asia pacific will dominate the succinic acid market in near future.”
APAC will remain the largest market over the forecast period due to high economic growth, growing manufacturing sector, cheap labor, increasing foreign investments, agreements/collaborations and expansion, growing consumption of plastics, and a global shift in the production capacity from the developed markets to the emerging markets.
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Major players of succinic acid market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Bioamber, Myriant Corporation, Kawasaki Kasei Chemicals Ltd., Linyi Lixing Chemical Co., Ltd., Anhui Sunsing Chemicals Co., Ltd., Mitsubishi Chemical Holdings Corporation, Succinity GmbH, Nippon Shokubai Co. Ltd, Gadiv Petrochemical Industries Ltd., and Reverdia are among the major succinic acid providers.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/global-succinic-acid-market.aspx or helpdesk@lucintel.com
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At Lucintel, we offer solutions for you growth through game changer ideas and robust market & unmet needs analysis. We are based in Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20 years. We are quoted in several publications like the Wall Street Journal, ZACKS, and the Financial Times. For further information, visit www.lucintel.com
Contact:
Brandon Fitzgerald
Lucintel
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Email: brandon.fitzgerald@lucintel.com
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