Global Succinic Acid Market 2017-2021
- Published: Jul 2017
- Pages: 72
- SKU: IRTNTR13653
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This market research study identifies BioAmber, KAWASAKI KASEI CHEMICALS, Myriant, Reverdia, and Succinity as the leading players in the global succinic acid market. A comprehensive analysis of this market is also presented by end user (plasticizers, cosmetics and personal care, PBS or PBST, polyurethane, food and beverage, pharmaceuticals, coatings and pigments, and others) and by geography (APAC, Europe, North America, and ROW).
Overview of the global succinic acid market
According to Technavio’s market research report, the global succinic acid market will grow rapidly at a CAGR of more than 27% during the forecast period. One of the key factors that will stimulate the growth of the market during the estimated period is the emergence of bio-based and renewable raw materials. The manufacture of succinic acid from bio-based materials is increasing. Renewable resources, biomass, and bio-based raw materials include starch and vegetable crop derivatives. Biomass includes grass, trees, plants, and other organic materials such as animal meat and other tissues. The over-dependence on petroleum-based plastics is declining due to the increasing use of bioplastics in numerous applications such as packaging and domestic goods. This will boost the popularity of bio-based and renewable raw materials. Additionally, to ensure a sustainable future, industries are also focusing on installing well-developed, self-sufficient, and advanced integrated biorefineries.
The production of succinic acid is made possible through sustainable feedstocks such as glucose, sucrose, and bio-based glycerol by introducing new biotechnological courses. Also, bio-based succinic acid is extensively preferred over petroleum based succinic acid because they help in the reduction of the carbon footprint. Succinic acid and 1,4-butanediol are used to produce biopolymers such as polybutylene succinate (PBS). It offers plastic manufacturers an efficient binding agent for biopolymer compounds. The rising demand for PBS is identified as one of the key trends that will gain traction in the global succinic acid market in the forthcoming years.
Competitive landscape and key vendors
The succinic acid market is characterized by the presence of small and medium scale vendors. These vendors are increasingly competing against each other based on factors such as innovation, price, operational cost, and product quality. The prominent in the bio-based succinic acid market players are extensively focusing on the adoption of strategies such as mergers and acquisitions to eliminate the threat of rivalry.
Key vendors in this market are -
- KAWASAKI KASEI CHEMICALS
Other prominent vendors in the market include Anhui Sunsing Chemicals, Anqing Hexing Chemical, Gadiv Petrochemical Industries, New Japan Chemical, Nippon Shokubai, Shandong Yuhuang Chemical, and Thirumalai Chemicals.
Segmentation by end user and analysis of the succinic acid market
- Cosmetics and personal care
- PBS or PBST
- Food and beverage
- Coatings and pigments
The pigments and coatings segment accounted for the majority market share during 2016. Succinic acid is increasingly used in pigments and coatings for aesthetic requirements. The segment will continue to be the largest end-user to this market during the next four years as well. The increase in environmental regulations and the growing governmental pressure will drive the demand for pigments and coatings, in turn, fueling the demand for bio-based succinic acid.
Segmentation by geography and analysis of the succinic acid market
- North America
The adoption of succinic acid is increasing in cosmetics products, lubricating oils, solvents, coatings, metals, polyurethanes, pharmaceuticals, and food and beverages sectors in South Korea. Succinic acid has several applications across various industries as it is an intermediate chemical. The demand for succinic acid will continue to increase in APAC by 2021 due to the presence of lenient regulations in countries such as India and China.
Key questions answered in the report include
- What will the market size and the growth rate be in 2021?
- What are the key factors driving the global succinic acid market?
- What are the key market trends impacting the growth of the global succinic acid market?
- What are the challenges to market growth?
- Who are the key vendors in the global succinic acid market?
- What are the market opportunities and threats faced by the vendors in the global succinic acid market?
- What are the trending factors influencing the market shares of APAC, Europe, North America, and ROW?
- What are the key outcomes of the five forces analysis of the global succinic acid market?
Technavio also offers customization on reports based on specific client requirement.
This upcoming market research report on the succinic acid market is an integral part of Technavio’s chemicals and materials portfolio and offers key insights into the market space for specialty chemicals. Technavio’s insightful market research reports also offer insights on the market size, forecast, trends, and industry analysis to help clients build effective growth strategies.
Additionally, by implementing an extensive research approach of quantitative and qualitative data collection methods and assessing the changing demand-supply landscape of the speciality chemicals sector, the upcoming market research report on the succinic acid market offers insights into the key market drivers, trends, and eminent challenges that will influence the growth of the key suppliers in this market space. This upcoming market research report on the succinic acid market also covers vendors like Bioamber, Myriant Corporation, Kawasaki Kasei Chemical, Anhui Sunsing Chemicals, and Mitsubishi Chemical Holdings Corporation.
This market research report on the succinic acid market also takes into account the growth of related market like flocculants market, which is anticipated to post an impressive CAGR of above 9%, respectively during the forecast period. Furthermore, to offer clients the scope to identify potential market opportunities and expand in niche markets, this market research report on the succinic acid market also covers geographies like APAC, North America, Europe, and ROW.
The upcoming industry report on the succinic acid market also offers insights into fast-growing segments within the chemicals and materials industry, including sectors like metals and minerals and industrial gases. Additionally, the report also presents insights into the changing competitive landscape and gives clients a complete view of the future direction of the chemicals and materials industry.
Technavio also offers clients the option to customize every report to suit their specific requirements and offers attractive discounts on all upcoming reports and future purchases.
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Research Methodology
PART 04: Introduction
- Market outline
PART 05: Market landscape
- Market overview
- Five forces analysis
PART 06: Market segmentation by end user
- Overview: Global succinic acid market by end user
- Global succinic acid market for coatings and pigments
- Global succinic acid market for pharmaceuticals
- Global succinic acid market for food and beverages
- Global succinic acid market for polyurethane
- Global succinic acid market for PBS/PBST
- Global succinic acid market for cosmetics and personal care
- Global succinic acid market for plasticizers
- Global succinic acid market for others
PART 07: Geographical segmentation
- Global succinic acid market by geography
- Succinic acid market in Europe
- Succinic acid market in APAC
- Succinic acid market in North America
- Succinic acid market in ROW
PART 08: Decision framework
PART 09: Drivers and challenges
- Market drivers
- Market challenges
PART 10: Market trends
- Rising demand for polybutylene succinate
- Succinic acid as a substitute for adipic acid in making PU
PART 11: Vendor landscape
- Competitive scenario
- Major market vendors
- KAWASAKI KASEI CHEMICALS
- Other prominent vendors
PART 12: Appendix
- List of abbreviations
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
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