Global Succinic acid market is estimated to grow by approx.28.03% CAGR during the year 2017 – 2026. The base year considered for the study is 2016 and forecast period is between 2017-2026. The global succinic acid market is primarily driven by following factors: The critical driver increasing growth in the global succinic acid market is the supportive government policies. Government regulations have always been crucial to the growth of any industry. 

GLOBAL SUCCINIC ACID MARKET FORECAST 2017-2026

Global Succinic Acid Market Is Segmented by Raw Materials(by Raw Materials, Petro-based Succinic Acid) by Applications(1,4- Butanediol (Bdo), Plasticizer, Pbs (Polybutylene Succinate), Solvent and Lubricant, Polyols, Other Industrial Use, Pharma, Food) & by Geography

 

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Global Succinic acid market is estimated to grow by approx.28.03% CAGR during the year 2017 – 2026. The base year considered for the study is 2016 and forecast period is between 2017-2026. The global succinic acid market is primarily driven by following factors:

  • Supportive government policies giving rise to succinic acid market
  • Availability of renewable raw materials
  • Increase in petroleum prices

Succinic Acid Market

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The critical driver increasing growth in the global succinic acid market is the supportive government policies. Government regulations have always been crucial to the growth of any industry. The U.S. Government had been supporting the concept of green chemicals. As mentioned earlier, the applications of toxic chemicals in pharmaceuticals and consumer products are regulated by the Environmental Protection Agency (EPA), the Federal Food and Drug Administration (FDA), and The Consumer Product Safety Commission (CPS). The nod from such regulatory bodies enables the succinic acid market to grow in the U.S. Regulations and policies of the Canadian government are also favorable for the succinic acid market to grow in the region.

BDO or 1, 4-Butanediol is one of the primary industrial application of bio-based succinic acid. BDO is mainly used in the manufacturing of engineering plastics and for the application of polyurethane in the leather industry. In certain applications, it can also be used for producing hot melt adhesive. Fibers, resins, and coatings are some other applications of BDO. Most of the BDO are petrol based. The shifting interest of major players such as BASF, Mitsubishi Chemicals, ISP, and Invista towards bio-BDO has resulted in the development of the succinic acid market.

A high price of bio-based succinic acid and growing competitive rivalry within the market are major factors hindering the succinic acid market. The bio-based succinic acid is comparatively costlier than the petrochemical-based succinic acid available in the market. The processing cost is quite high, and so is the investment cost for setting up production plant. However, the rate of production is quite low due to less demand. However, increase in the production and awareness for green and eco-friendly products are likely to bring down the price of bio-based succinic acid products, which is expected to increase the production demand gradually.

The global succinic acid market segments include raw materials and applications.

Raw materials are segmented into:

  • Bio-based,
  • Petro-based

Applications are segmented into:

  • BDO
  • Plasticizer
  • PBS
  • Solvent and lubricant
  • Polyols
  • Other Industrial
  • Pharma
  • Food

The report scope is categorized on the basis of its components which include raw materials. Also, the market revenue estimates and forecast are only for succinic acid and excludes any other acids.

Geographically, the global succinic acid market has been segmented on the basis of four major regions, which include:

Europe ranks first in the world, in the succinic acid production and consumption. Historically, the European Union (EU) has always been a net consumer of succinic acid. However, today, most of the succinic acid is being imported from APAC. Awareness is one of the biggest drivers in the European market. End users are more aware of the ecological effects of petrochemicals based products. Hence, a shift from petro-based succinic acid to bio-based succinic acid is encouraged. In Europe, the German market dominates the market followed by Spain, UK, and Italy. But, due to the increasing global competition in the chemical industry, Europe’s chemical market in under huge pressure and is in search of new ways to gain a competitive advantage. Most of the opportunities lie in the development of new value chains with bio-based succinic acid. On the other hand, the Asia-Pacific market is predicted to be the fastest-growing region for the succinic acid market over the forecast period. Asia Pacific is an established market for the succinic industry. Raw material availability and low production costs are the key motivators for the succinic acid industry in APAC. Japan and China have a well-established chemical industry, which helps in the growth of the APAC succinic acid market.

The global succinic acid market is segmented on the basis of raw materials which are sub-divided into bio-based and petro-based, and also segmented on the basis of applications which are sub-divided into BDO, plasticizers, PBS, solvent and lubricants, polyols, other industrial, pharma, and food.

The major market players in the global succinic acid market are:

  • BioAmber Inc
  • Myriant
  • Succinity GmbH
  • Reverdia
  • Linyi Lixing Chemical Co Ltd
  • OTHERS

Company Profiles covers analysis of important players

These companies are employing organic and inorganic strategies for their growth. For instance, in June 2015, BioAmber signed supply pact for bio-succinic acid with Xuchuan Chemical. Under the terms of the 5-year contract, (2015-2019), BioAmber, a joint venture with Mitsui & Co, will ship its bio-based succinic acid to Xuchuan’s Chinese facilities in Sarnia, Canada. In April 2011, BioAmber Inc. joined forces with Mitsubishi Chemical Corporation in the field of biobased succinic acid as a strategic agreement, which makes BioAmber and its Asian distribution partner Mitsui & Co. the exclusive suppliers of bio-based succinic acid to Mitsubishi Chemical. These players are also conducting a feasibility study to build a succinic acid production facility next to Mitsubishi’s planned PBS production plant in Thailand.

Key Findings of the global succinic acid market.

  • Supportive government policies and availability of renewable raw materials are fueling the growth of global succinic acid
  • Europe succinic acid market captured the largest share in 2016.
  • BDO segment is dominating the market due to its increased application in manufacturing and leather industry
  • Increasing government support
  • Product launch is a primary strategy adopted by various market players of the global succinic acid market.
  • Petro-based succinic acid is a major segment of raw materials.
    1. RESEARCH SCOPE
      • STUDY GOALS
      • SCOPE OF THE MARKET STUDY
      • WHO WILL FIND THIS REPORT USEFUL?
      • STUDY AND FORECASTING YEARS
    2. RESEARCH METHODOLOGY
      • SOURCES OF DATA
        • SECONDARY DATA
        • PRIMARY DATA
      • TOP DOWN APPROACH
      • BOTTOM-UP APPROACH
      • DATA TRIANGULATION
    3. EXECUTIVE SUMMARY
      • MARKET SUMMARY
      • KEY FINDINGS
        • ROBUST GROWTH IN BIO-BASED SUCCINIC ACID MARKET
        • INCREASED DEMAND FOR BIODEGRADABLE PLASTICS
        • ASIA PACIFIC IS FORECASTED TO BE THE MOST PROMISING MARKET
    1. MARKET DYNAMICS
      • MARKET DEFINITION
      • DRIVERS
        • SUPPORTIVE GOVERNMENT POLICIES GIVING RISE TO SUCCINIC ACID MARKET
        • AVAILABILITY OF RENEWABLE RAW MATERIALS
        • RISE IN PETROLEUM PRICES
      • RESTRAINTS
        • HIGH PRICE OF BIO-BASED SUCCINIC ACID
        • COMPETITIVE RIVALRY
      • OPPORTUNITY
        • VARIED APPLICATIONS
          • FOOD AND BEVERAGES
          • PHARMACEUTICALS
        • EFFECTIVE TREATMENT
        • GO GREEN INITIATIVE
        • SUBSTITUTE FOR KEY CHEMICALS
        • BIO-BASED BIODEGRADABLE PLASTIC IN DEMAND
      • CHALLENGES
        • HIGH PROCESSING COST
        • AWARENESS
        • TIME-CONSUMING PROCESS
    1. MARKET BY RAW MATERIALS
      • BIO-BASED SUCCINIC ACID
        • PRODUCTION FROM CORN
        • PRODUCTION FROM MOLASSES
      • PETRO-BASED SUCCINIC ACID
        • MALEIC ANHYDRIDE
    1. MARKET BY APPLICATIONS
      • 1,4- BUTANEDIOL (BDO)
      • PLASTICIZER
      • PBS (POLYBUTYLENE SUCCINATE)
      • SOLVENT AND LUBRICANT
      • POLYOLS
      • OTHER INDUSTRIAL USE
      • PHARMA
        • COSMETICS
        • PREPARATION OF DRUGS
      • FOOD
        • PRESERVATIVES
        • SOFTENING AGENT
        • PACKAGING
    1. KEY ANALYTICS
      • PORTER’S 5 FORCE ANALYSIS
        • THREAT OF NEW ENTRANTS
        • THREAT OF SUBSTITUTE PRODUCTS
        • BARGAINING POWER OF BUYERS
        • BARGAINING POWER OF SUPPLIERS
        • INTENSITY OF COMPETITIVE RIVALRY
      • VALUE CHAIN ANALYSIS
        • RAW MATERIAL
        • PRODUCT
        • MARKETS
      • KEY BUYING CRITERIA
        • OBJECTIVE
          • UTILITY
          • PERSONAL CARE
          • SUBSTITUTE FOR PETROCHEMICAL BASED SUCCINIC ACID
          • REPLACEMENT OF PLASTIC AND DERIVATIVES
          • PHARMACEUTICALS
          • FAVORABLE GOVERNMENT POLICIES AND REGULATIONS
        • PRICE
        • AVAILABILITY
        • QUALITY
        • ENVIRONMENT EFFECTS
      • VENDOR LANDSCAPE
      • OPPORTUNITY MATRIX
    2. GEOGRAPHICAL ANALYSIS
      • NORTH AMERICA
        • UNITED STATES
        • CANADA
      • EUROPE
        • UK
        • FRANCE
        • GERMANY
        • ITALY
        • SPAIN
        • NETHERLANDS
        • RUSSIA
        • ROE
      • ASIA PACIFIC
        • CHINA
        • JAPAN
        • INDIA
        • THAILAND
        • SOUTH KOREA
        • REST OF ASIA PACIFIC
      • REST OF WORLD
        • LATIN AMERICA
        • AFRICA
        • MIDDLE EAST
    1. COMPETITIVE LANDSCAPE
      • MARKET SHARE ANALYSIS
        • BIOAMBER/MITSUI
        • MYRIANT
        • SUCCINITY
        • REVERDIA
      • COMPANY PROFILES
        • BIOAMBER INC.
        • MYRIANT CORPORATION
        • BASF SE
        • DSM NETHERLANDS
        • MITSUI & CO. LTD
        • MITSUBISHI CHEMICAL CORPORATION
        • REVERDIA (DSM – ROQUETTE)
        • GADIV PETROCHEMICAL INDUSTRIES LTD
        • KAWASAKI KASEI CHEMICALS
        • LINYI LIXING CHEMICAL CO LTD
        • SUCCINITY GMBH
        • NIPPON SHOKUBAI CO LTD
        • ANHUI SUNSING CHEMICALS CO LTD
        • SIGMA ALDRICH
        • MERCK MILLIPORE (MERCK)
        • ESIM CHEMICALS
        • ANQING HEXING CHEMICAL CO LTD

 

LIST OF TABLES

TABLE 1 GLOBAL SUCCINIC ACID MARKET BY GEOGRAPHY 2017-2026 ($ MILLION)

TABLE 2 GLOBAL SUCCINIC ACID MARKET BY RAW MATERIALS 2017-2026 ($ MILLION)

TABLE 3 GLOBAL BIO-BASED SUCCINIC ACID MARKET BY GEOGRAPHY 2017-2026 ($ MILLION)

TABLE 4 GLOBAL PETRO-BASED SUCCINIC ACID MARKET BY GEOGRAPHY 2017-2026 ($ MILLION)

TABLE 5 GLOBAL SUCCINIC ACID MARKET BY APPLICATIONS 2017-2026 ($ MILLION)

TABLE 6 GLOBAL 1,4-BUTANEDIOL (BDO) MARKET BY GEOGRAPHY 2017-2026 ($ MILLION)

TABLE 7 GLOBAL PLASTICIZER MARKET BY GEOGRAPHY 2017-2026 ($ MILLION)

TABLE 8 GLOBAL PBS MARKET BY GEOGRAPHY 2017-2026 ($ MILLION)

TABLE 9 GLOBAL SOLVENT AND LUBRICANT MARKET BY GEOGRAPHY 2017-2026 ($ MILLION)

TABLE 10 GLOBAL POLYOLS MARKET BY GEOGRAPHY 2017-2026 ($ MILLION)

TABLE 11 GLOBAL OTHER INDUSTRIAL MARKET BY GEOGRAPHY 2017-2026 ($ MILLION)

TABLE 12 GLOBAL PHARMACEUTICAL MARKET BY GEOGRAPHY 2017-2026 ($ MILLION)

TABLE 13 GLOBAL FOOD MARKET BY GEOGRAPHY 2017-2026 ($ MILLION)

TABLE 14 KEY MOTIVATORS AND RESTRAINTS OF DIFFERENT GEOGRAPHIES

TABLE 15 GLOBAL SUCCINIC ACID MARKET BY GEOGRAPHY 2017-2026 ($ MILLION)

TABLE 16 NORTH AMERICA SUCCINIC ACID MARKET BY COUNTRY 2017-2026 ($ MILLION)

TABLE 17 EUROPE SUCCINIC ACID MARKET BY COUNTRY 2017-2026 ($ MILLION)

TABLE 18 ASIA PACIFIC SUCCINIC ACID MARKET BY COUNTRY 2017-2026 ($ MILLION)

TABLE 19 REST OF THE WORLD SUCCINIC ACID MARKET BY COUNTRY 2017-2026 ($ MILLION)

 

LIST OF FIGURE

FIGURE 1 GLOBAL SUCCINIC ACID MARKET BY RAW MATERIALS 2017-2026 ($ MILLION)

FIGURE 2 GLOBAL BIO-BASED SUCCINIC ACID MARKET 2017-2026 ($ MILLION)

FIGURE 3 GLOBAL PETRO-BASED SUCCINIC ACID MARKET 2017-2026 ($ MILLION)

FIGURE 4 MALEIC ANHYDRIDE PRODUCTION BY GEOGRAPHY (2013)

FIGURE 5 GLOBAL 1,4-BUTANEDIOL (BDO) MARKET 2017-2026 ($ MILLION)

FIGURE 6 GLOBAL PLASTICIZER MARKET 2017-2026 ($ MILLION)

FIGURE 7 GLOBAL PBS MARKET 2017-2026 ($ MILLION)

FIGURE 8 GLOBAL SOLVENT AND LUBRICANT MARKET 2017-2026 ($ MILLION)

FIGURE 9 GLOBAL POLYOLS MARKET 2017-2026 ($ MILLION)

FIGURE 10 GLOBAL OTHER INDUSTRIAL MARKET 2017-2026 ($ MILLION)

FIGURE 11 GLOBAL PHARMACEUTICAL MARKET 2017-2026 ($ MILLION)

FIGURE 12 GLOBAL FOOD MARKET 2017-2026 ($ MILLION)

FIGURE 13 CUMULATIVE PRICE CHANGE IN CRUDE OIL, CORN, AND SUGAR

FIGURE 14 CORN PRODUCTION IN USA (MILLION TONS)

FIGURE 15 US SUCCINIC ACID MARKET 2017-2026 ($ MILLION)

FIGURE 16 CORN AND WHEAT PRODUCTION IN MILLION TONS

FIGURE 17 CANADA SUCCINIC ACID MARKET 2017-2026 ($ MILLION)

FIGURE 18 UK SUCCINIC ACID MARKET 2017-2026 ($ MILLION)

FIGURE 19 FRANCE SUCCINIC ACID MARKET 2017-2026 ($ MILLION)

FIGURE 20 GERMANY SUCCINIC ACID MARKET 2017-2026 ($ MILLION)

FIGURE 21 ITALY SUCCINIC ACID MARKET 2017-2026 ($ MILLION)

FIGURE 22 SPAIN SUCCINIC ACID MARKET 2017-2026 ($ MILLION)

FIGURE 23 NETHERLANDS SUCCINIC ACID MARKET 2017-2026 ($ MILLION)

FIGURE 24 RUSSIA SUCCINIC ACID MARKET 2017-2026 ($ MILLION)

FIGURE 25 REST OF EUROPE SUCCINIC ACID MARKET 2017-2026 ($ MILLION)

FIGURE 26 CHINA SUCCINIC ACIDS MARKET 2017-2026 ($ MILLION)

FIGURE 27 JAPAN SUCCINIC ACIDS MARKET 2017-2026 ($ MILLION)

FIGURE 28 INDIA SUCCINIC ACIDS MARKET 2017-2026 ($ MILLION)

FIGURE 29 THAILAND SUCCINIC ACIDS MARKET 2017-2026 ($ MILLION)

FIGURE 30 SOUTH KOREA SUCCINIC ACIDS MARKET 2017-2026 ($ MILLION)

FIGURE 31 REST OF ASIA PACIFIC SUCCINIC ACIDS MARKET 2017-2026 ($ MILLION)

FIGURE 32 LATIN AMERICA SUCCINIC ACIDS MARKET 2017-2026 ($ MILLION)

FIGURE 33 AFRICA SUCCINIC ACID MARKET 2017-2026 ($ MILLION)

FIGURE 34 MIDDLE EAST SUCCINIC ACID MARKET 2017-2026 ($ MILLION)

  1. MARKET BY RAW MATERIALS
    • BIO-BASED SUCCINIC ACID
      • PRODUCTION FROM CORN
      • PRODUCTION FROM MOLASSES
    • PETRO-BASED SUCCINIC ACID
      • MALEIC ANHYDRIDE
  1. MARKET BY APPLICATIONS
    • 1,4- BUTANEDIOL (BDO)
    • PLASTICIZER
    • PBS (POLYBUTYLENE SUCCINATE)
    • SOLVENT AND LUBRICANT
    • POLYOLS
    • OTHER INDUSTRIAL USE
    • PHARMA
      • COSMETICS
      • PREPARATION OF DRUGS
    • FOOD
      • PRESERVATIVES
      • SOFTENING AGENT
      • PACKAGING
  1. GEOGRAPHICAL ANALYSIS
    • NORTH AMERICA
      • UNITED STATES
      • CANADA
    • EUROPE
      • UK
      • FRANCE
      • GERMANY
      • ITALY
      • SPAIN
      • NETHERLANDS
      • RUSSIA
      • ROE
    • ASIA PACIFIC
      • CHINA
      • JAPAN
      • INDIA
      • THAILAND
      • SOUTH KOREA
      • REST OF ASIA PACIFIC
    • REST OF WORLD
      • LATIN AMERICA
      • AFRICA
      • MIDDLE EAST

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