Succinic Acid Market To Show Strong Growth & Revenue To 2032 | Nippon Shokubai Co, Ltd. Kawasaki Kasei Chemicals Ltd etc

The global succinic acid market size was USD 234.8 Million in 2022 and is expected to register a revenue CAGR of 9.3% during the forecast period

VANCOUVER, BRITISH COLUMBIA, CANADA, June 3, 2024 /EINPresswire.com/ -- The global succinic acid market size was USD 234.8 Million in 2022 and is expected to register a revenue CAGR of 9.3% during the forecast period. Growing urbanization and increasing consumer disposable income, rising product demand from the pharmaceutical industry, growing acceptance of bio-based chemicals, and increasing adoption of eco-friendly and sustainable products are some factors expected to drive market revenue growth over the forecast period.

Succinic acid, a four-carbon dicarboxylic acid, is an important platform chemical used in various industrial applications such as pharmaceuticals, food and beverages, agriculture, and the manufacturing of biodegradable plastics. Traditionally derived from petroleum-based processes, there is a growing shift towards bio-based succinic acid due to increasing environmental concerns and sustainability initiatives. The succinic acid market is witnessing significant growth driven by advancements in biotechnology, increased demand from end-use industries, and favorable government policies supporting green chemicals.

 The latest study on the  Succinic Acid Market industry includes a detailed analysis of the future trends and demands for the forecast period, 2022 – 2030 .   Succinic Acid Market Relevant data on the sudden shift in consumer preferences, spending power and consumption volume worldwide further makes this study more precise. Special emphasis on recent developments including collaborations, joint ventures, mergers & acquisitions and technology upgrades occupies an important section in the study. The SWOT analysis performed during the study identifies the strengths, weaknesses, threats and opportunities in store for key vendors operating

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Some of the key participants in this Succinic Acid Market industry include:

Nippon Shokubai Co., Ltd., Gadiv Petrochemical Industries Ltd., BASF SE, Roquette Frères., Anhui Sunsing Chemicals Co.,Ltd., Kawasaki Kasei Chemicals Ltd., R-Biopharm., S.S.Pharmachem, Fuso Chemical Co., Ltd., Spectrum Chemical, Merck KGaA, Ernesto Ventós S.A., Parchem., Corbion N.V., Novomer Inc., ESIM Chemicals GmbH, Reverdia, Showa Denko America, Inc., Mitsubishi Chemical Company, and BioAmber, Inc

Global Succinic Acid Market Research Objectives:

To provide deep understanding of the Succinic Acid industry.

To highlight the critical data of each segment at extensive level.

To determine key success factors in different segments of Succinic Acid industry.

To highlight the trends in specific sectors.

To give insights into key segments.

To carry economic analysis, build quantitative and financial models of global Succinic Acid industry and individual segments.

To project future performance of the global Succinic Acid industry and identify imperatives.

To identify risks of investing in particular segments and suggest appropriate strategies to mitigate the risks.

To study what held back the Succinic Acid industry during pandemic and forces that are driving up the global Succinic Acid Market post-pandemic.

Explore Detailed Insights on Succinic Acid Market @ https://www.emergenresearch.com/industry-report/succinic-acid-market

The report studies the impact of the COVID-19 pandemic on the   Succinic Acid Market .The report offers valuable insights into the market size, market share, sales channel and distribution network, segmentation of the market, demands, and trends, and growth prospects. The report also studies the growth of the market on a global and regional scale.

Market Drivers
Several factors are driving the growth of the succinic acid market. One of the primary drivers is the increasing demand for bio-based chemicals. With growing awareness about environmental sustainability and the adverse effects of fossil fuels, industries are shifting towards renewable resources. Bio-based succinic acid, produced through the fermentation of renewable feedstocks, offers an eco-friendly alternative, thus driving market growth.

The expanding application of succinic acid in various industries is another significant driver. In the food and beverage industry, succinic acid is used as an acidity regulator, flavor enhancer, and antimicrobial agent. In pharmaceuticals, it serves as a precursor for active pharmaceutical ingredients (APIs) and excipients. Additionally, its use in agriculture as a biostimulant and in manufacturing biodegradable polymers such as polybutylene succinate (PBS) is further boosting the market.

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Segmentation :

For the purpose of this report, Emergen research has segmented the global succinic acid market on the basis of source, end-use industry, and region:

· Source Outlook (Revenue, USD Million, Volume Kilotons, 2019-2032)
Bio-based Succinic Acid
Petro-based Succinic Acid
· End-Use Industry Outlook (Revenue, USD Million, Volume Kilotons, 2019-2032)
Industrial
Coatings
Food & Beverages
Cosmetics
Pharmaceutical
Others
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Regional Analysis Covers:

North America (U.S., Canada)

Europe (U.K., Italy, Germany, France, Rest of EU)

Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

What is the key information extracted from the report?

Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.

The report offers the present scenario and future growth prospects Market in various geographical regions.

The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.

The SWOT analysis is conducted along with Porter's Five Force analysis.

The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.

About Emergen Research

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy.

Eric Lee
Emergen Research
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