SOURCE: Transparency Market Research, PVT LTD.

Transparency Market Research

May 19, 2015 07:36 ET

Succinic Acid Market to Grow at 19.4% CAGR 2012-2018 Due to Rising Demand From China: Transparency Market Research

ALBANY, NY--(Marketwired - May 19, 2015) - In the latest report released by Transparency market Research, the global succinic acid market is stated to be anticipated to expand at a stunning CAGR of 19.4% from 2012 to 2018. The report, titled “Succinic Acid Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 - 2018,” estimates the overall market to be valued at US$836.2 million by 2018, a significant increase from its value worth US$240.3 million in 2011. Chemically, succinic acid is a diprotic, dicarboxylic acid and finds varied usage in industries such as food, pharmaceuticals, cosmetics, and others. As succinic acid is produced by the oxidation of 1,4-butanediol, the rising demand for 1,4-butanediol will drive the growth of the global succinic acid market.The report cites that the growing demand for plasticizers and polyurethanes will further boost the overall market. The upward trend in the demand for resins, coatings, dyes, and ink will help the global succinic acid market grow, as succinic acid is a major component in the manufacture of these products.

Browse Full Market Research of Succinic Acid Market with ToC & Free Analysis:

The report terms the various stringent environmental and regulations in developed countries as hindrances to the growth of the global succinic acid market. Degradation of soil minerals is one of the many environmental impacts of succinic acid. The volatile price of the petroleum-derived maleic anhydride, which is the raw material for the production of succinic acid, may negatively affect the global succinic acid market. Due to the environmental impact of succinic acid, manufacturers are focusing on manufacturing bio-derived succinic acid.

Request Sample Report:

The report details this as a huge market opportunity for the global succinic acid market. Depending upon the various applications of succinic acid, the global succinic acid market has been segmented into pharmaceutical; polyurethane; food; plasticizer; cosmetics; solvents and lubricants; 11,4 BDO; de-icing solutions; resins, coatings, dyes, and inks; and others. The resins, coatings, dyes, and inks segment has been driving the demand from the overall market and accounted for more than 20.8% of the market in 2011. It was closely followed by the pharmaceutical industry, which held a nearly 13% share. The report mentions that in 2011, the polyurethane industry held about 12% of the overall volume of the global succinic acid market.

Browse Press Release of Succinic Acid Market:

Europe, Asia Pacific, North America, and Rest of the World are the four key regional segments of the global succinic acid market. The report mentions that Europe led the overall market in 2011 holding more than 33.6% of global demand. Asia Pacific held about 29.6% of the market, closely followed by North America with a 29.2% share. The report indicates that the rising demand for succinic acid from China will be a significant factor in the growth of the global succinic acid market during the forecast horizon.

Browse Article of Succinic Acid Market:

The report profiles and describes in detail major players in the global succinic acid market, including BASF SE, BioAmber, Anqing Hexing Chemical Co. Ltd., DSM, Kawasaki Kasei Chemicals, Gadiv Petrochemical Industries Limited, Mitsubishi Chemical Corporation, Mitsui & Co. Ltd., Nippon Shokubai Co. Ltd., PTT Global Chemical Public Co. Ltd., Myriant Technologies, and Reverdia.

Other Reports by Transparency Market Research:

About Us:

Transparency Market Research (TMR) is a U.S. based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

Contact Information