According to a recently report published by BriskInsights.com, the Global Succinic Acid Market is expected to grow at the CAGR of 23.22% during 2015-2022 and it is estimated to be $489.7 million by 2022. The global succinic acid market is segmented on the basis of application. The report on Global Succinic Acid Market Forecast 2015-2022 provides detailed overview and predictive analysis of the market.
The global succinic acid market is expected to grow at a good pace due to many factors such as volatility in the prices of the fossil based fuels. There has been a growth of interest among masses to use raw material which is available nearby them, increasing carbon footprint has also led to the popularity of succinic acid. Furthermore, there has been increase in the global demand of green chemicals and it has triggered its adoption in many applications such as bio plastics.
New application of the chemical has been generated in the market such as BDO, PBS, polyesters and plasticizers will be leading to the industry growth. Other driving factors for the market are increasing investment for green chemicals, Increasing awareness among people for environment safety and the amount of support it is receiving from various governments. There are certain factors which inhibit the growth of the market such as the higher price of succinic acid and also the time needed for its extraction is quite long and this acts as the drawback for the market.
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Some of the major market players of the industry are Reverdia, Purac, Roquette Frerse S.A, BASF, Mitsubishi, Mitsui & Co, DSM, Myraint, BioAmber etc.
Scope of the report
1. Global succinic acid market by application 2012-2022 ($ million)
1.1. 4-Butanediol (BDO) & Derivatives
1.3. by Plasticizers
1.4. De-Icer Solutions
1.5. Personal Care
1.6. Food and Beverages
1.8. Solvents & Lubricants
2. Global succinic acid market regional outlook 2012-2022 ($ million)
2.1. North America
2.3. Asia Pacific
2.4. Middle East & Africa
2.5. Central & South America
3. Competitive Landscape
3.1. Aktin chemicals
3.2. BASF SE
3.5. Flying chemical co.
3.6. Gadiv Petrochemical Industries Ltd.
3.7. Kawasaki Kasei Chemicals Limited
3.8. Linyi Lixing chemical co. ltd.
3.9. Mitsubishi Chemical
3.10. Mitsui & Co. Ltd
3.12. Nippon Shokubai Co. Ltd
3.14. PTT Global Chemical Public Limited
3.17. Roquette Freres S.A.
3.19. Yantai shanshui chemical technology
3.20. Zibo Qifeng chuanrun chemical co.
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