Succinic Acid Market

Succinic Acid Market by Type (Bio-Based Succinic Acid, Petro-Based Succinic Acid), End-Use Industry (Industrial, Food & Beverage, Coatings, Pharmaceutical), and Region (APAC, Europe, North America, South America, Middle East & Africa) - Forecast to 2023

Report Code: CH 2917 Oct, 2019, by marketsandmarkets.com
Updated date -

[130 Pages Report] The global succinic acid market is estimated to be USD 132 million in 2018 and is projected to reach USD 183 million by 2023, at a CAGR of 6.8%. The growth in the food & beverage, industrial, and pharmaceutical industries is expected to drive the market.

Succinic Acid Market

Market Dynamics

Increasing demand from APAC

APAC is the fastest-growing succinic acid market. Owing to the growth in the economy and increasing consumer awareness, the market in the region is growing rapidly. This region is also projected to dominate the succinic acid market by 2023 due to the growing industrial base of polyurethane, pharmaceutical, 1,4-BDO, and food & beverage and the availability of cheap labor and low manufacturing cost.

The growing demand for succinic acid derivatives from China has spurred the growth of the succinic acid market in the APAC region. During the last decade, the succinic acid market in China witnessed a steady growth owing to the development of downstream industries and the improvement of production technology of succinic acid.

In China, succinic acid is widely being used to produce a series of derivatives, such as dimethyl succinate (DMS) and 1,4- BDO that are further used for soldering flux and surfactants applications in the chemical industry. In the pharmaceutical industry, it is used as a raw material of ferrous succinate, succinimide, and N-bromosuccinimide (NBS), whereas in the food & beverage industry, succinic acid is used in the production of disodium succinate, which acts as a flavor enhancer for food. Thus, the use of succinic acid for the production of various derivatives in the aforementioned industries in China is increasing the demand for succinic acid in the country.

High production costs

The cost of succinic acid varies according to the type, process, and applications in which, it is used. The succinic acid market is still a capital–intensive market, and the downtime involved with the penetration of succinic acid as an intermediate to the existing material/application also causes significant loss to the end-use industries. The R&D costs associated with petro-based succinic acid, in terms of labor, and raw materials is high.

The failure of bio-based succinic acid due to the lack of cost-competitiveness and performance issues as a substitute for petro-based succinic acid has increased the demand for petro-based succinic acid. The setup of succinic acid manufacturing plants for both petro-based and renewable chemicals require huge capital investment, proficient technology, and 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 labor with 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.

Slow growth of the bio-based succinic acid market

Previously, the increasing oil & gas prices, rising concern of sustainability, and environmental issues had led to research on environmental benign routes. Although the development of bio-based succinic acid had a promising market potential in various applications such as PBS, 1, 4-BDO, food, pharmaceuticals, plasticizers, and solvents and as a replacement for various chemicals such as adipic acid, phthalic anhydride, maleic anhydride, and isophthalic acid, the final product lacked the efficiency and resulted in high production costs. Over time, it was proved that the petrochemical approach was more competitive due to the continuous optimization and researches on the process for more than half of a century in comparison to the biological approach. This led to a slowdown in the growth of the bio-based succinic acid market.

The major causes of the slowdown include higher production costs and lower efficiency. These factors have led to a decreased demand for bio-based succinic acid, and this has affected the market negatively since the past few years. The production of succinic acid is affected by the high production costs caused by the development of downstream technologies, which deal with the separation of succinic acid from aqueous fermentation broth. The separation cost accounts for more than 50% of the total cost of the fermentative process. Therefore, a suitable purification method, which will prove to be cost-effective, is yet to be developed. This has led to reduced demand for bio-based succinic acid, which has caused the shutdown of major bio-based succinic acid producing companies such as BioAmber, Myriant, and Succinity. These factors act as challenges to the succinic acid market, as they have reduced the estimated potential high growth of the market to nominal growth.

By type, the petro-based segment is expected to be largest contributor to the market growth during the forecast period.

The growth of the segment is mainly attributed to the demand from the chemical industry for PBS/ PBST, and polyurethane. Petro-based succinic acid is cost-effective and has better efficiency in comparison with bio-based type. Additionally, it can be widely used in the food & beverage industry as a flavor enhancer and in the chemical industry for the manufacture of PBS.

Succinic Acid Market

APAC is expected to be the largest market during the forecast period.

The growth of the market in APAC is mainly driven by the shift of production facilities from North America and Europe to this region. China, India, and Southeast Asia are the major contributors to the growth of the industrial, food & beverage, pharmaceutical, and coating industries in the region. These industries are witnessing growth owing to the increasing per capita expenditure and growing urbanization. This is further expected to create a demand for succinic acid in the region.

Key Market Players

Companies such as BioAmber (Canada), GC Innovation America (US), Succinity GmbH (Germany), Reverdia (Netherlands), Nippon Shokubai (Japan), Shandong Lixing Chemical (China), Kawasaki Kasei Chemicals (Japan), Anqing Hexing Chemical (China), Anhui Sunsing Chemicals (China), and Gadiv Petrochemical Industries (Israel) are the leading players in the succinic acid market.  Diversified product portfolio, high depth in application reach, and technical assistance to customers are the factors responsible for strengthening the position of these companies in the succinic acid market. They have also been adopting various organic and inorganic growth strategies such as partnership, agreement, and expansion, to enhance their current position in the succinic acid market.

Recent Developments 

  • In November 2016, Reverdia entered into a strategic partnership with Hangzhou Xinfu Science & Technology (China) to adopt Biosuccinium in bio-based polymers and co-polymers for the packaging industry and for long-term supply agreement.
  • In October 2016, Reverdia signed an agreement with Dezhou Xinhuarun Technology (China) to develop and promote Biosuccinium-based microcellular polyurethane foams. The foams will be used in soles for footwear and other applications.
  • In August 2016, Anhui Sunsing Chemicals invented another method of producing succinic acid and other chemicals using sucrose-containing feedstock. This invention was related to the production of chemicals by fermentation with a microorganism in which, the fermentation medium contains sugar sucrose.

Key Questions Addressed by the Report

  • What are the future revenue pockets in the succinic acid market?
  • Which are the key developments expected to have a long-term impact on the succinic acid market?
  • Which are the product technologies expected to cannibalize existing technologies? 
  • How is the current regulatory framework expected to impact the market?
  • What will be the future product mix of the succinic acid market?
  • What are the prime strategies of leaders in the succinic acid market?

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

Table of Contents

1 Introduction (Page No. - 16)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Years Considered for the Study
           1.3.2 Currency
           1.3.3 Unit Considered
    1.4 Limitations
    1.5 Stakeholders

2 Research Methodology (Page No. - 19)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Key Data From Primary Sources
                    2.1.2.2 Key Industry Insights
                    2.1.2.3 Breakdown of Primary Interviews
    2.2 Market Size Estimation
    2.3 Data Triangulation
           2.3.1 Assumptions

3 Executive Summary (Page No. - 27)

4 Premium Insights (Page No. - 30)
    4.1 Attractive Opportunities in the Succinic Acid Market
    4.2 Succinic Acid Market in APAC, By Type and Country, 2017
    4.3 Succinic Acid Market, By Country

5 Market Overview (Page No. - 32)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Increasing Demand From APAC
           5.2.2 Restraints
                    5.2.2.1 High Production Costs
           5.2.3 Opportunities
                    5.2.3.1 Increasing Potential Applications of Succinic Acid
           5.2.4 Challenges
                    5.2.4.1 Issues in Commercialization of Bio-Based Succinic Acid
                    5.2.4.2 Slow Growth of the Bio-Based Succinic Acid Market
    5.3 Porter’s Five Forces Analysis
           5.3.1 Bargaining Power of Suppliers
           5.3.2 Threat of New Entrants
           5.3.3 Threat of Substitutes
           5.3.4 Bargaining Power of Buyers
           5.3.5 Intensity of Competitive Rivalry
    5.4 Macroeconomic Indicators
           5.4.1 Trends of Oil Consumption
           5.4.2 Trends of Gas Consumption
           5.4.3 Trends and Forecast of GDP

6 Succinic Acid Market, By Type (Page No. - 46)
    6.1 Introduction
    6.2 Petro-Based Succinic Acid
           6.2.1 The Demand for Petro-Based Succinic Acid is Rising Due to Its Use in Industrial and Coating Industries
    6.3 Bio-Based Succinic Acid
           6.3.1 The Demand for Bio-Based Succinic Acid is Increasing Due to Its Use in the Food & Beverage Industry

7 Succinic Acid Market, By End-Use Industry (Page No. - 51)
    7.1 Introduction
    7.2 Industrial
           7.2.1 The Demand for Succinic Acid is Rising for Pbs Application in the Industrial Segment
    7.3 Coating
           7.3.1 Succinic Acid is Widely Used in the Coating Industry for Manufacturing Polyester Polyols
    7.4 Food & Beverage
           7.4.1 The Use of Succinic Acid as A Flavoring Agent and Additive is Driving Its Demand in the Food & Beverage Industry
    7.5 Pharmaceutical
           7.5.1 Succinic Acid Derivatives are Used for Different Applications in the Pharmaceutical Industry
    7.6 Others

8 Succinic Acid Market, By Region (Page No. - 62)
    8.1 Introduction
    8.2 APAC
           8.2.1 China
                    8.2.1.1 The Use of Succinic Acid in the Industrial Segment is Likely to Boost the Market in China
           8.2.2 Japan
                    8.2.2.1 The Coating Industry is Expected to Propel the Market in Japan
           8.2.3 South Korea
                    8.2.3.1 The South Korean Succinic Acid Market is Expected to Witness High Growth Due to Demand From the Industrial Segment
           8.2.4 India
                    8.2.4.1 High Demand From the Industrial Segment is A Key Factor for the Market Growth in India
           8.2.5 Taiwan
                    8.2.5.1 The Market in Taiwan is Expected to Witness High Growth Due to the Use of Succinic Acid in the Industrial Segment
           8.2.6 Indonesia
                    8.2.6.1 The Market in Indonesia is Likely to Be Driven By the Coating Industry
           8.2.7 Rest of APAC
    8.3 North America
           8.3.1 US
                    8.3.1.1 The Demand for Succinic Acid in the US is Driven By Packaging and Construction Applications in the Industrial Segment
           8.3.2 Canada
                    8.3.2.1 Canada is Witnessing A High Demand for Succinic Acid Due to Its Use in the Industrial Segment and Coating Industry
           8.3.3 Mexico
                    8.3.3.1 Succinic Acid is Used for Packaging and Construction Applications in the Industrial Segment
    8.4 Europe
           8.4.1 Germany
                    8.4.1.1 The Growing Demand From the Industrial Segment Drives the Market in Germany
           8.4.2 UK
                    8.4.2.1 The Increased Use of Biodegradable Coating Materials in the Construction Industry Generates High Demand for Succinic Acid
           8.4.3 France
                    8.4.3.1 The Increased Demand for Succinic Acid From the Industrial Segment is Driving the Market in France
           8.4.4 Spain
                    8.4.4.1 Succinic Acid has the Highest Demand From the Industrial Segment Due to the Increase in Pbs Consumption
           8.4.5 Italy
                    8.4.5.1 Coating is the Largest End-Use Industry of Succinic Acid in Italy
           8.4.6 Netherlands
                    8.4.6.1 The Industrial Segment Generates High Demand for Succinic Acid for Pbs Application in the Country
           8.4.7 Belgium
                    8.4.7.1 The Succinic Acid Demand in Belgium is Driven By Increased Usage of Green Chemicals Such as Pbs/Pbst
           8.4.8 Turkey
                    8.4.8.1 The Coating Industry is Expected to Drive the Demand for Succinic Acid in Turkey
           8.4.9 Russia
                    8.4.9.1 The Industrial Segment is A Major End User of Succinic Acid in Russia
           8.4.10 Rest of Europe
    8.5 South America
           8.5.1 Brazil
                    8.5.1.1 The Demand for Succinic Acid is Generated By the Coating Industry in Brazil
           8.5.2 Argentina
                    8.5.2.1 The Coating Industry is A Major Driver for the Market Growth in Argentina
           8.5.3 Rest of South America
    8.6 Middle East & Africa
           8.6.1 Iran
                    8.6.1.1 The Demand for Succinic Acid is Driven By Its Use in the Industrial Segment
           8.6.2 Saudi Arabia
                    8.6.2.1 The Industrial Segment Drives the Market for Succinic Acid in Saudi Arabia
           8.6.3 UAE
                    8.6.3.1 The Industrial Segment is Expected to Be the Fastest-Growing End User of Succinic Acid in the Country
           8.6.4 Rest of Middle East & Africa

9 Competitive Landscape (Page No. - 107)
    9.1 Overview
    9.2 Market Ranking Analysis
    9.3 Competitive Situation & Trends
           9.3.1 New Product Development
           9.3.2 Partnership & Agreement
           9.3.3 Expansion

10 Company Profiles (Page No. - 110)
(Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View)
     10.1 Nippon Shokubai
     10.2 Kawasaki Kasei Chemicals
     10.3 Reverdia
     10.4 Gadiv Petrochemical Industries Limited
     10.5 Anhui Sunsing Chemicals
     10.6 Shandong Lixing Chemical
     10.7 Anqing Hexing Chemical
     10.8 Bioamber*
     10.9 Succinity*
     10.10 Gc Innovation America*
*Details on Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View Might Not Be Captured in Case of Unlisted Companies.
     10.11 Additional Company Profiles
             10.11.1 Spectrum Chemical
             10.11.2 Thirumalai Chemicals Limited
             10.11.3 Shandong Chemical

11 Appendix (Page No. - 125)
     11.1 Discussion Guide
     11.2 Knowledge Store: Marketsandmarkets’ Subscription Portal
     11.3 Available Customizations
     11.4 Related Reports
     11.5 Author Details


List of Tables (110 Tables)

Table 1 Oil Consumption, 2017 (Thousand Barrels Daily)
Table 2 Gas Consumption, 2017 (Billion Cubic Metres)
Table 3 Trends and Forecast of GDP, 2016 -2023 (USD Billion)
Table 4 Succinic Acid Market Size, By Type , 2016–2023 (USD Million)
Table 5 Succinic Acid Market Size, By Type , 2016–2023 (Kiloton)
Table 6 Petro-Based Succinic Acid Market Size, By Region, 2016–2023 (USD Million)
Table 7 Petro-Based Succinic Acid Market Size, By Region, 2016–2023 (Kiloton)
Table 8 Bio-Based Succinic Acid Market Size, By Region, 2016–2023 (USD Million)
Table 9 Bio-Based Succinic Acid Market Size, By Region, 2016–2023 (Kiloton)
Table 10 Succinic Acid Market Size, By End-Use Industry, 2016–2023 (USD Million)
Table 11 Succinic Acid Market Size, By End-Use Industry, 2016–2023 (Kiloton)
Table 12 Succinic Acid Market Size in Industrial Segment, By Region, 2016–2023 (USD Million)
Table 13 Succinic Acid Market Size in Industrial Segment, By Region, 2016–2023 (Kiloton)
Table 14 Succinic Acid Market Size in Coating End-Use Industry, By Region, 2016–2023 (USD Million)
Table 15 Succinic Acid Market Size in Coating End-Use Industry, By Region, 2016–2023 (Kiloton)
Table 16 Succinic Acid Market Size in Food & Beverage End-Use Industry, By Region, 2016–2023 (USD Million)
Table 17 Succinic Acid Market Size in Food & Beverage End-Use Industry, By Region, 2016–2023 (Kiloton)
Table 18 Succinic Acid Market Size in Pharmaceutical End-Use Industry, By Region, 2016–2023 (USD Million)
Table 19 Succinic Acid Market Size in Pharmaceutical End-Use Industry, By Region, 2016–2023 (Kiloton)
Table 20 Succinic Acid Market Size in Other End-Use Industries, By Region, 2016–2023 (USD Million)
Table 21 Succinic Acid Market Size in Other End-Use Industries, By Region, 2016–2023 (Kiloton)
Table 22 By Market Size, By Region, 2016–2023 (USD Million)
Table 23 By Market Size, By Region, 2016–2023 (Kiloton)
Table 24 APAC: By Market Size, By Country, 2016–2023 (USD Million)
Table 25 APAC: By Market Size, By Country, 2016–2023 (Kiloton)
Table 26 APAC: By Market Size, By Type, 2016–2023 (USD Million)
Table 27 APAC: By Market Size, By Type, 2016–2023 (Kiloton)
Table 28 APAC: By Market Size, By End-Use Industry, 2016–2023 (USD Million)
Table 29 APAC: By Market Size, By End-Use Industry, 2016–2023 (Kiloton)
Table 30 China: By Market Size, By End-Use Industry, 2016–2023 (USD Million)
Table 31 China: By Market Size, By End-Use Industry, 2016–2023 (Kiloton)
Table 32 Japan: By Market Size, By End-Use Industry, 2016–2023 (USD Million)
Table 33 Japan: By Market Size, By End-Use Industry, 2016–2023 (Kiloton)
Table 34 South Korea: By Market Size, By End-Use Industry, 2016–2023 (USD Million)
Table 35 South Korea: By Market Size, By End-Use Industry, 2016–2023 (Kiloton)
Table 36 India: By Market Size, By End-Use Industry, 2016–2023 (USD Million)
Table 37 India: By Market Size, By End-Use Industry, 2016–2023 (Kiloton)
Table 38 Taiwan: By Market Size, By End-Use Industry, 2016–2023 (USD Million)
Table 39 Taiwan: By Market Size, By End-Use Industry, 2016–2023 (Kiloton)
Table 40 Indonesia: By Market Size, By End-Use Industry, 2016–2023 (USD Million)
Table 41 Indonesia: By Market Size, By End-Use Industry, 2016–2023 (Kiloton)
Table 42 Rest of APAC: By Market Size, By End-Use Industry, 2016–2023 (USD Million)
Table 43 Rest of APAC: By Market Size, By End-Use Industry, 2016–2023 (Kiloton)
Table 44 North America: By Market Size, By Country, 2016–2023 (USD Million)
Table 45 North America: By Market Size, By Country, 2016–2023 (Kiloton)
Table 46 North America: By Market Size, By Type, 2016–2023 (USD Million)
Table 47 North America: By Market Size, By Type, 2016–2023 (Kiloton)
Table 48 North America: By Market Size, By End-Use Industry, 2016–2023 (USD Million)
Table 49 North America: By Market Size, By End-Use Industry, 2016–2023 (Kiloton)
Table 50 US: By Market Size, By End-Use Industry, 2016–2023 (USD Million)
Table 51 US: By Market Size, By End-Use Industry, 2016–2023 (Kiloton)
Table 52 Canada: By Market Size, By End-Use Industry, 2016–2023 (USD Million)
Table 53 Canada: By Market Size, By End-Use Industry, 2016–2023 (Kiloton)
Table 54 Mexico: By Market Size, By End-Use Industry, 2016–2023 (USD Million)
Table 55 Mexico: By Market Size, By End-Use Industry, 2016–2023 (Kiloton)
Table 56 Europe: By Market Size, By Country, 2016–2023 (USD Million)
Table 57 Europe: By Market Size, By Country, 2016–2023 (Kiloton)
Table 58 Europe: By Market Size, By Type, 2016–2023 (USD Million)
Table 59 Europe: By Market Size, By Type, 2016–2023 (Kiloton)
Table 60 Europe: By Market Size, By End-Use Industry, 2016–2023 (USD Million)
Table 61 Europe: By Market Size, By End-Use Industry, 2016–2023 (Kiloton)
Table 62 Germany: By Market Size, By End-Use Industry, 2016–2023 (USD Million)
Table 63 Germany: By Market Size, By End-Use Industry, 2016–2023 (Kiloton)
Table 64 UK: By Market Size, By End-Use Industry, 2016–2023 (USD Million)
Table 65 UK: By Market Size, By End-Use Industry, 2016–2023 (Kiloton)
Table 66 France: By Market Size, By End-Use Industry, 2016–2023 (USD Million)
Table 67 France: By Market Size, By End-Use Industry, 2016–2023 (Kiloton)
Table 68 Spain: By Market Size, By End-Use Industry, 2016–2023 (USD Million)
Table 69 Spain: By Market Size, By End-Use Industry, 2016–2023 (Kiloton)
Table 70 Italy: By Market Size, By End-Use Industry, 2016–2023 (USD Million)
Table 71 Italy: By Market Size, By End-Use Industry, 2016–2023 (Kiloton)
Table 72 Netherlands: By Market Size, By End-Use Industry, 2016–2023 (USD Million)
Table 73 Netherlands: By Market Size, By End-Use Industry, 2016–2023 (Kiloton)
Table 74 Belgium: By Market Size, By End-Use Industry, 2016–2023 (USD Million)
Table 75 Belgium: By Market Size, By End-Use Industry, 2016–2023 (Kiloton)
Table 76 Turkey: By Market Size, By End-Use Industry, 2016–2023 (USD Million)
Table 77 Turkey: By Market Size, By End-Use Industry, 2016–2023 (Kiloton)
Table 78 Russia: By Market Size, By End-Use Industry, 2016–2023 (USD Million)
Table 79 Russia: By Market Size, By End-Use Industry, 2016–2023 (Kiloton)
Table 80 Rest of Europe: By Market Size, By End-Use Industry, 2016–2023 (USD Million)
Table 81 Rest of Europe: By Market Size, By End-Use Industry, 2016–2023 (Kiloton)
Table 82 South America: By Market Size, By Country, 2016–2023 (USD Million)
Table 83 South America: By Market Size, By Country, 2016–2023 (Kiloton)
Table 84 South America: By Market Size, By Type, 2016–2023 (USD Million)
Table 85 South America: By Market Size, By Type, 2016–2023 (Kiloton)
Table 86 South America: By Market Size, By End-Use Industry, 2016–2023 (USD Million)
Table 87 South America: By Market Size, By End-Use Industry, 2016–2023 (Kiloton)
Table 88 Brazil: By Market Size, By End-Use Industry, 2016–2023 (USD Million)
Table 89 Brazil: By Market Size, By End-Use Industry, 2016–2023 (Kiloton)
Table 90 Argentina: By Market Size, By End-Use Industry, 2016–2023 (USD Million)
Table 91 Argentina: By Market Size, By End-Use Industry, 2016–2023 (Kiloton)
Table 92 Rest of South America: By Market Size, By End-Use Industry, 2016–2023 (USD Million)
Table 93 Rest of South America: By Market Size, By End-Use Industry, 2016–2023 (Kiloton)
Table 94 Middle East & Africa: By Market Size, By Country, 2016–2023 (USD Million)
Table 95 Middle East & Africa: By Market Size, By Country, 2016–2023 (USD Million)
Table 96 Middle East & Africa: By Market Size, By Type, 2016–2023 (USD Million)
Table 97 Middle East & Africa: By Market Size, By Type, 2016–2023 (Kiloton)
Table 98 Middle East & Africa: By Market Size, By End-Use Industry, 2016–2023 (USD Million)
Table 99 Middle East & Africa: By Market Size, By End-Use Industry, 2016–2023 (Kiloton)
Table 100 Iran: By Market Size, By End-Use Industry, 2016–2023 (USD Thousand)
Table 101 Iran: By Market Size, By End-Use Industry, 2016–2023 (Ton)
Table 102 Saudi Arabia: By Market Size, By End-Use Industry, 2016–2023 (USD Million)
Table 103 Saudi Arabia: By Market Size, By End-Use Industry, 2016–2023 (Kiloton)
Table 104 UAE: By Market Size, By End-Use Industry, 2016–2023 (USD Thousand)
Table 105 UAE: By Market Size, By End-Use Industry, 2016–2023 (Ton)
Table 106 Rest of Middle East & Africa: By Market Size, By End-Use Industry, 2016–2023 (USD Million)
Table 107 Rest of Middle East & Africa: By Market Size, By End-Use Industry, 2016–2023 (Kiloton)
Table 108 New Product Development, 2014–2018
Table 109 Partnership & Agreement, 2014–2018
Table 110 Expansion, 2014–2018


List of Figures (37 Figures)

Figure 1 Succinic Acid Market Segmentation
Figure 2 Succinic Acid Market: Research Methodology
Figure 3 Market Size Estimation: Top-Down Approach
Figure 4 Market Size Estimation: Bottom-Up Approach
Figure 5 Succinic Acid Market: Data Triangulation
Figure 6 Petro-Based to Be the Largest Segment of the Succinic Acid Market
Figure 7 Industrial to Be the Largest End User of Succinic Acid
Figure 8 APAC Was the Largest Succinic Acid Market in 2017
Figure 9 Growing Industrial Segment to Drive the Market During the Forecast Period (2018-2023)
Figure 10 Petro-Based Was the Largest Type of Succinic Acid in APAC
Figure 11 Succinic Acid Market to Register High Growth in India and China
Figure 12 Drivers, Restraints, Opportunities, and Challenges Governing the Succinic Acid Market
Figure 13 Succinic Acid Market: Porter’s Five Forces Analysis
Figure 14 Trends of Oil Consumption, 2017
Figure 15 Trends of Gas Consumption, 2017
Figure 16 Trends of GDP, 2017
Figure 17 Petro-Based to Be the Largest Segment of the Succinic Acid Market
Figure 18 APAC to Be the Largest Market for Petro-Based Succinic Acid
Figure 19 APAC to Be the Largest Market for Bio-Based Succinic Acid
Figure 20 Industrial to Be the Largest End User of Succinic Acid
Figure 21 APAC to Be the Largest Succinic Acid Market in the Industrial Segment
Figure 22 APAC to Be the Largest Succinic Acid Market in the Coating End-Use Industry
Figure 23 APAC to Be the Largest Succinic Acid Market in the Food & Beverage Industry
Figure 24 North America to Be the Largest Succinic Acid Market in the Pharmaceutical Industry
Figure 25 APAC to Be the Largest Succinic Acid Market in Other End-Use Industries
Figure 26 Succinic Acid Market: Regional Snapshot
Figure 27 APAC: Succinic Acid Market Snapshot
Figure 28 North America: Succinic Acid Market Snapshot
Figure 29 Europe: Succinic Acid Market Snapshot
Figure 30 South America: Succinic Acid Market Snapshot
Figure 31 Middle East & Africa: Succinic Acid Market Snapshot
Figure 32 Market Ranking of Key Players in 2017
Figure 33 Nippon Shokubai: Company Snapshot
Figure 34 Nippon Shokubai: SWOT Analysis
Figure 35 Kawasaki Kasei Chemicals: SWOT Analysis
Figure 36 Reverdia: SWOT Analysis
Figure 37 Bioamber: Company Snapshot

The study involved four major activities to estimate the current market size for succinic acid. Exhaustive secondary research was done to collect information on the market, peer markets, and parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, the market breakdown and data triangulation procedures were used to estimate the market size of segments and subsegments.

Secondary Research

In the secondary research process, various secondary sources such as Hoovers, Bloomberg BusinessWeek, and Dun & Bradstreet were referred to for identifying and collecting information for this study. Secondary sources included annual reports, press releases & investor presentations of companies, whitepapers, certified publications, articles by recognized authors, gold standard & silver standard websites, associations, regulatory bodies, trade directories, and databases.

Primary Research

The succinic acid market comprises several stakeholders such as raw material suppliers, end-product manufacturers, and regulatory organizations in the supply chain. The demand side of this market is characterized by the developments in the industrial, coatings, food & beverage, and pharmaceutical industries. The supply side is characterized by market consolidation activities undertaken by succinic acid producers. Several primary sources from both supply and demand sides of the market were interviewed to obtain qualitative and quantitative information. Following are the breakdown of primary respondents

Succinic Acid Market

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation:

Both top-down and bottom-up approaches were used to estimate and validate the total size of the succinic acid market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size included the following:

  • The key players in the industry and markets were identified through extensive secondary research.
  • The industry’s supply chain and market size, in terms of value, were determined through primary and secondary research processes.
  • All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources.

Data Triangulation:

After arriving at the overall market size—using the market size estimation process explained above—the market was split into several segments and subsegments. In order to complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegments, the data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both demand and supply sides.

Report Objectives:

  • To identify significant market trends and factors driving, restraining, providing opportunities, and challenging the growth of the succinic acid market
  • To define, describe, and analyze the succinic acid market based on type, end-use industry, and region
  • To forecast and analyze the size of the succinic acid market in key regions, namely, APAC, North America, Europe, South America, and the Middle East & Africa
  • To strategically analyze each submarket with respect to individual growth trends and its contribution to the overall succinic acid market
  • To analyze opportunities in the succinic acid market for stakeholders by identifying high-growth segments of the market
  • To strategically profile the key players in the succinic acid market and comprehensively analyze their growth strategies

Scope of the Report:


Report Metric

Details

Market size available for years

2016-2023

Base year considered

2017

Forecast period

2018–2023

Forecast units

Value (USD Million), Volume (Kiloton)

Segments covered

Type, End-use Industry, and Region

Regions covered

North America, APAC, Europe, South America, and Middle East & Africa

Companies covered

BioAmber (Canada), GC Innovation America (US), Succinity GmbH (Germany), Reverdia (Netherlands), Nippon Shokubai (Japan),
Major players covered

This report categorizes the succinic acid market based on type, end-use industry, and region.

On the basis of type, the succinic acid market has been segmented as follows

  • Petro-based
  • Bio-succinic

On the basis of end-use industry, the succinic acid market has been segmented as follows

  • Industrial
  • Coating
  • Food & beverage
  • Pharmaceutical
  • Others (personal care, agriculture, and metal)

On the basis of region, the succinic acid market has been segmented as follows:

  • APAC
  • North America
  • Europe
  • South America
  • Middle East & Africa

Available Customizations

With the given market data, MarketsandMarkets offers customizations according to the specific needs of companies. The following customization options are available for the report:

Regional Analysis

  • A further breakdown of the regional succinic acid market to the country level by end-use industry

Country Information

  • Regional market split by major countries

Company Information

  • Detailed analysis and profiles of additional market players (up to five)
Report Code
CH 2917
Published ON
Oct, 2019
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