Succinic
Acid Market Research Report (2020-2025) Provides In-Depth
Analysis by Scope, Growth Rate, Driving Factors, Competitive Situation, Top
Manufacturers and Upcoming Trends. Succinic Acid Market report split global
into several key Regions which mainly includes Market Overview, Table of
Content, List of Figures and Applications. Succinic Acid Market Growing at
Higher CAGR Rate of XX% between (2020-2025).
Summery:-
The global Succinic Acid Market
size is expected to value at USD 237.8 million by 2022. The succinic acid
industry is subject to witness a substantial growth due to the substantial
demand from various application verticals such as 1,4 butanediol, pharmaceuticals,
and polyurethanes. Rapid growth of building &construction sector and
automotive industry, particularly in the Asia Pacific region is expected to
foster market growth over the forecast period.
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The key driving factors responsible for the growth of Succinic Acid
market :
High-end demand for production of
resin, coating, and polyurethanes is positively affecting market growth as
well. Succinic acid is considered as primary building block for the production
of polyurethanes, resins, polybutylene succinate (PBS) and plasticizers.
Succinic acid acts as a precursor for chemicals such as 1,4 butanediol (BDO).
Globally, the succinic acid market is predicted to grow at CAGR of 12% in the
forecast period, providing numerous opportunities for market players to invest
for research and development in the market.
However, volatility in the cost
of crude oil price and limited availability of raw materials are expected to
hamper market growth to a certain extent over the coming years. Yet, massive
increase in the demand for bio-succinic acid owing to eco-friendly nature and
favorable government policies for the use of green products among chemical
manufacturers are anticipated to drive market growth over the next seven years.
Bio-derived succinic acid is predicted to replace conventional chemicals such
as butane-based maleic anhydride during production of succinic anhydride,
fumaric acid, diethylmaleate, glyoxylic acid, and other plastics.
The succinic acid industry is
broadly categorized into nine major segments based on the application type such
as1,4 BDO, resins & coatings segment, dying and inks segments,
pharmaceuticals, polyurethanes, food& beverages segment, plasticizers,
cosmetics, solvent and lubricants, de-icing solutions. The resins &
coatings is considered as one of the fastest growing segment in the succinic
acid market with substantial revenue generation in the last few years.
Growing popularity of succinic
acid in the resins & coatings segment is attributed for the rise in demand
from construction and the automotive industry. The pharmaceuticals segment has
also witnessed substantial growth owing to the increasing medical tourism
across the globe.
View Full Table of
Contents of This Report @ https://www.millioninsights.com/industry-reports/succinic-acid-market
Table of Contents:-
• Succinic Acid Market Overview
• Succinic Acid Market Competition by
Manufacturers
• Succinic Acid Market Production,
Revenue (Value) by Region (2014-2025)
• Succinic Acid Market Supply
(Production), Consumption, Export, Import by Regions (2014-2025)
• Succinic Acid Market Production,
Revenue (Value), Price Trend by Type
• Succinic Acid Market Analysis by
Application
• Succinic Acid Market Manufacturers
Profiles/Analysis
• Succinic Acid Market Manufacturing
Cost Analysis
• Succinic Acid Market Industrial Chain,
Sourcing Strategy and Downstream Buyers
• Succinic Acid Market Marketing
Strategy Analysis, Distributors/Traders
• Succinic Acid Market Effect Factors
Analysis
• Succinic Acid Market Research Findings
and Conclusion
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