The market for succinic acid in 2011 was valued at USD 240.3 million and is forecasted to reach USD 836.2 million by the end of 2018, growing at a CAGR of 19.4% between 2012 and 2018.
Albany, NY -- (SBWIRE) -- 10/28/2015 -- High production costs associated with petroleum based succinic acid is a key challenge for industry participants leading to enhanced focus on the development and commercialization of bio-based succinic acid. However, with the advent of bio-derived succinic acid, the cost of production is expected to decline which is expected to further fuel the demand for succinic acid globally. Bio-based succinic acid is gaining popularity due to high degree of government intervention to reduce industrial waste and air pollutants.
This report caters to the extensive study of the global succinic acid market. It covers the demand for succinic acid in various regions that are broadly categorized as North America, Europe, Asia Pacific and Rest of the World (RoW). The study delineates major factors, which are driving and restraining the global demand for succinic acid and their impact over the forecast period. The study segmented the succinic acid market on the application level and also provides the forecast for each sub segment. The study covers forecast and estimates of global succinic acid demand in terms of revenues (USD million) and volumes (Kilo tons) from 2012 to 2018.
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Major succinic acid applications elucidated in this study includes 1,4 butanediol, polyurethane, plasticizers, resins, coatings, dyes & inks, pharmaceutical, food, cosmetics, solvents and lubricants, se-icing solutions, and others. Resins, coatings, dyes & inks have been dominating the global succinic acid market and are anticipated to continue to override over the next five years. 1, 4 BDO is anticipated to grow at a fastest rate through 2018. Polyurethane is expected to be second fastest growing outlet for succinic acid. The report also provides in-depth study covering the key business strategies and recent development of major players in the market. It also covers the company overview and their financial position that helps in determining competition in the market.
The report comprises a detailed value chain analysis of succinic acid, and porter's five force model to understand market dynamics from raw material suppliers to end users. It helps in analyzing and building key business strategies for suppliers, buyers, substitutes, and possible new entrants.
The study includes company market share analysis for the major players operating in the succinic acid market. Anqing Hexing Chemical Co., Ltd., BASF SE, BioAmber, DSM, Gadiv Petrochemical Industries Limited, Kawasaki Kasei Chemicals, Mitsubishi Chemical Corporation, Mitsui & Co. Ltd., Myriant Technologies, Nippon Shokubai Co., Ltd., PTT Global Chemical Public Co. Ltd and Reverdia are some of the company profiles included in the succinic acid report.
Primary research represents the bulk of research efforts, supplemented by extensive secondary research. We reviewed the key players' product literature, annual reports, press releases and relevant documents for competitive analysis and market understanding. Secondary research also includes a search of recent trade, technical writing, internet sources, and statistical data from government websites, trade associations and agencies. This approach has proven to be the most reliable, effective and successful approach for obtaining precise market data, capturing industry participants' insights, and recognizing business opportunities. The secondary research sources that are typically referred to include, Company websites, annual reports, financial reports, broker reports, investor presentations and SEC filings, internal and external proprietary databases, relevant patent and regulatory databases, national government documents, statistical databases and market reports, news articles, press releases and web-casts specific to the companies operating in the market.
The research provides detailed analysis of companies dealing in succinic acid, trend analysis and demand forecast by geography. Various levels of market segmentation, for which estimate and forecast has been provided are as follows:
Succinic Acid Market: Application Analysis
Resins, coatings, dyes & inks
Solvents and lubricants
Succinic Acid Market, Regional Analysis
Rest of the World (RoW)
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