Global Succinic Acid Market to Reach USD 496 Mn by 2016

The global succinic acid market in terms of revenue was estimated to be worth $182.8 million in 2010 and is expected to reach $496.0 million by 2016, growing at a CAGR of 18.7% from 2011 to 2016. Europe and North America dominate the global succinic acid market, together accounting for 66.0% of the global succinic acid demand in 2010. Asia-Pacific is expected to be the fastest growing market in the near future owing to the rapid advancement and increasing demand from key countries such as China and India.

Succinic acid is an important platform chemical used widely in a wide range of industries. Until recently, the commercial scale production of succinic acid was petroleum-derived. But, now it can also be produced by using renewable feedstocks. The biological route to produce succinic acid is gaining popularity as it is seen as a renewable, cost competitive, and greener alternative to the petroleum derived succinic acid. Owing to the versatility, green nature, and cost competitiveness of the bio-based succinic acid, it is expected that the bio-based product will address a much larger market than the petroleum derived succinic acid.

This study estimates the global market size of succinic acid by the end of 2016. Europe is the most dominant market for succinic acid, accounting for 35% of the overall market in 2010. Asia-Pacific is expected to be the fastest growing markets for succinic acid owing to significant demand from key markets such as China, Japan, and India.

They have used various secondary sources such as encyclopedia, directories, and databases to identify and collect information useful for this extensive commercial study of succinic acid. The primary sources - selected experts from related industries and selected suppliers have been interviewed to obtain and verify critical information as well as to assess the future prospects of succinic acid.

This market research study provides detailed qualitative and quantitative analysis of the global succinic acid market. The report provides a comprehensive review of major market drivers, restraints, opportunities, winning imperatives, challenges, and key issues in the market. The market is further segmented and forecasted for major geographic regions such as North America, Europe, Asia-Pacific, and Rest of the World. Major countries with the market volume and revenue are covered for each of the region. Competitive scenario and key developments of the top players in the market has been discussed in detail. The top players of the industry are profiled in detail with their recent developments and other strategic industry activities.

Market has also been segmented on the basis of applications of succinic acid where major applications such as 1,4-Butanediol (BDO), polyurethanes, food, pharmaceuticals, etc. have been discussed in detail and a comprehensive view and forecast is provided for each category with the market volume and revenue. Market has been further segmented on the basis of applications. The report also provides a comprehensive view of the raw materials used for the production of succinic acid with major focus on bio-based succinic acid. In detail description of the potential market of bio-based succinic acid and price analysis of succinic acid is mentioned in detail in the report. The global existing production capacities and upcoming bio-based succinic acid capacities of the top suppliers have been provided in detail in the report.

They have profiled leading players of this industry with their recent developments and other strategic industry activities. Key participants in the global succinic acid market include BioAmber (U.S.), DSM (The Netherlands), Roquette SA (France), Myriant Technologies (U.S.), Mitsubishi Chemicals (Japan), Anqing Hexing Chemical Co. Ltd (China), etc.