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Succinic Acid Market size worth $ 268.8 Million, Globally, by 2028 at 8% CAGR: Verified Market Research®

JERSEY CITY, N.J., Sept. 28, 2021 /PRNewswire/ — Verified Market Research recently published a report, “Succinic Acid Market” By Type (Petro-based and Bio-based), By End-User (Industrial, Coating, Food & Beverage, Cosmetics, and Pharmaceuticals), and By Geography. According to Verified Market Research, the Global Succinic Acid Market size was valued at USD 147.42 Million in 2020 and is projected to reach USD 268.8 Million by 2028, growing at a CAGR of 8% from 2021 to 2028.

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Browse in-depth TOC onSuccinic Acid Market

202 – Pages
126 – Tables
37 – Figures

Global Succinic Acid Market Overview

Growing demand for bio-based chemicals, increasing per capita income across the globe, changing dietary patterns, and growing demand from the beverage and food industry experts to boost the market over the predicted years. An increase in the demand for plasticizers is expected to propel the global demand for succinic acid. Plasticizers are primarily employed as additives in the production of polyvinyl chloride (PVC). PVC is used in several industries. This is driving the Succinic Acid Market. Plasticizers are used for the production of PVC pipes, polyvinyl butyral (PVB), and other products due to their low viscosity and low volatility.

The setup for the succinic acid manufacturing plants for both petro-based and renewable chemicals require a huge capital investment, proficient technology, and an adequate supply of raw materials, along with rigorous R&D at the micro level to deliver a quality product. The manufacturer also has to achieve economies of scale by undertaking large-scale production and maintaining regular bulk purchases for their products to secure continuous cash flow for the operations. These factors have generated a significant impact on the cost of the end-use product. Thus, it is difficult for emerging manufacturers to have access to such technology and skilled labour with the high capital investment to manufacture environment-friendly, efficient, and sustainable succinic acid products at a very competitive price. These factors are restraining the growth of the Succinic Acid Market.

Key Developments in Succinic Acid Market

  • In March 2019, Royal DSM and Roquette expanded their existing partnership through strategic shift in the continuing operations of their joint venture through transfer the rights and obligations related to Reverdia’s Biosuccinium plant in Cassano, Italy, to Roquette.
  • In August 2018, Myriant changed its name officially to GC Innovation America, which is anticipated to be a tactical move by PTT.

The major players in the market are Merck KGaA, Ernesto Ventos. S.A., ThyssenKrupp AG, BioAmber, Inc., Myriant Corporation, Succinity GmbH, Reverdia, NIPPON SHOKUBAI CO., LTD., KAWASAKI KASEI CHEMICALS, and Anhui Sensing Chemicals Co., Ltd.

Verified Market Research has segmented the Global Succinic Acid Market On the basis of Type, End-User, and Geography.

  • Succinic Acid Market, By Type
    • Petro-based
    • Bio-based
  • Succinic Acid Market, By End-user
    • Industrial
    • Coating
    • Food & Beverage
    • Cosmetics
    • Pharmaceuticals
  • Succinic Acid Market by Geography
    • North America
      • U.S
      • Canada
      • Mexico
    • Europe
      • Germany
      • France
      • U.K
      • Rest of Europe
    • Asia Pacific
      • China
      • Japan
      • India
      • Rest of Asia Pacific
    • ROW
      • Middle East & Africa
      • Latin America

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Visualize Succinic Acid Market using Verified Market Intelligence:-:

Verified Market Intelligence is our BI Enabled Platform for narrative storytelling of this market. VMI offers in-depth forecasted trends and accurate Insights on over 20,000+ emerging & niche markets, helping you make critical revenue impacting decisions for a brilliant future.

VMI provides a holistic overview and global competitive landscape with respect to Region, Country, and Segment, and Key players of your market. Present your Market Report & findings with an inbuilt presentation feature saving over 70% of your time and resources for Investor, Sales & Marketing, R&D, and Product Development pitches. VMI enables data delivery In Excel and Interactive PDF formats with over 15+ Key Market Indicators for your market.

About Us

Verified Market Research is a leading Global Research and Consulting firm servicing over 5000+ customers. Verified Market Research provides advanced analytical research solutions while offering information enriched research studies. We offer insight into strategic and growth analyses, Data necessary to achieve corporate goals and critical revenue decisions.

Our 250 Analysts and SME’s offer a high level of expertise in data collection and governance use industrial techniques to collect and analyze data on more than 15,000 high impact and niche markets. Our analysts are trained to combine modern data collection techniques, superior research methodology, expertise and years of collective experience to produce informative and accurate research.

We study 14+ categories from Semiconductor & Electronics, Chemicals, Advanced Materials, Aerospace & Defense, Energy & Power, Healthcare, Pharmaceuticals, Automotive & Transportation, Information & Communication Technology, Software & Services, Information Security, Mining, Minerals & Metals, Building & construction, Agriculture industry and Medical Devices from over 100 countries.

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Verified Market Research®
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SOURCE Verified Market Research

Succinic Acid Market size worth $ 268.8 Million, Globally, by 2028 at 8% CAGR: Verified Market Research®
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