Succinic acid is a dicarboxylic acid with the general chemical formula (CH2)2(CO2H2)2. Succinic acid is present as an anion known as the succinate in the human body, which has multiple biological roles and acts as a metabolic intermediate. Succinic acid is present as a white and odorless solid and has an acidic taste. Succinic acid is not harmful but is irritant to skin and eyes. On oxidation, succinic acid forms fumaric acid, or it can also be converted into diesters such as diethylsuccinate whereas dehydration of succinic acid forms succinic anhydride. There has been an increasing demand for succinic acid particularly in the Asia-Pacific region that is favoring the market of succinic acid globally also.
MARKET DYNAMICS
The succinic acid market is assumed to grow in the forecast considering the increasing demand in the Asia-Pacific region. However, the high cost involved in the production of succinic acid might restrict the growth of the succinic acid market. On the other hand, the increasing potential in the applications of succinic acid is likely to showcase growth opportunities for the succinic acid market during the forecast period.
MARKET SCOPE
The "Global Succinic acid Market Analysis to 2028" is a specialized and in-depth study of the chemicals and materials industry with a special focus on the global market trend analysis. The report aims to provide an overview of succinic acid market with detailed market segmentation by type, end-use industry, and geography. The global succinic acid market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading succinic acid market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global succinic acid market is segmented on the basis of type, and end-use industry. Based on type, the market is segmented as petro-based succinic acid and bio-based succinic acid. On the basis of end-use industry, the market is segmented as industrial, coating, food & beverages, pharmaceutical, and others.
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The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global succinic acid market based on various segments. It also provides market size and forecast estimates from the year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The succinic acid market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting succinic acid market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South & Central America after evaluating political, economic, social and technological factors affecting the succinic acid market in these regions.
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global succinic acid market based on various segments. It also provides market size and forecast estimates from the year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The succinic acid market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting succinic acid market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South & Central America after evaluating political, economic, social and technological factors affecting the succinic acid market in these regions.
MARKET PLAYERS
The reports cover key developments in the succinic acid market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved the way for the expansion of business and customer base of market players. The market payers from succinic acid market are anticipated to lucrative growth opportunities in the future with the rising demand for succinic acid in the global market. Below mentioned is the list of few companies engaged in the succinic acid market.
The report also includes the profiles of key succinic acid companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of the last three years, key developments in the past five years.
- Anhui Sunsing Chemicals
- Anqing Hexing Chemical
- BASF SE
- Gc Innovation America
- Kawasaki Kasei Chemicals
- Myriant Corporation
- Nippon Shokubai
- Reverdia
- Spectrum Chemical Manufacturing Corp.
- Succinity
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Succinic Acid - By Type
1.3.2 Succinic Acid - By End-Use Industry
1.3.3 Succinic Acid - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. SUCCINIC ACID LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. EXPERT OPINIONS
5. SUCCINIC ACID - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
6. SUCCINIC ACID - GLOBAL MARKET ANALYSIS
6.1. SUCCINIC ACID - GLOBAL MARKET OVERVIEW
6.2. SUCCINIC ACID - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. SUCCINIC ACID - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. PETRO-BASED SUCCINIC ACID
7.3.1. Overview
7.3.2. Petro-Based Succinic Acid Market Forecast and Analysis
7.4. BIO-BASED SUCCINIC ACID
7.4.1. Overview
7.4.2. Bio-Based Succinic Acid Market Forecast and Analysis
8. SUCCINIC ACID - REVENUE AND FORECASTS TO 2028 - END-USE INDUSTRY
8.1. OVERVIEW
8.2. END-USE INDUSTRY MARKET FORECASTS AND ANALYSIS
8.3. INDUSTRIAL
8.3.1. Overview
8.3.2. Industrial Market Forecast and Analysis
8.4. COATING
8.4.1. Overview
8.4.2. Coating Market Forecast and Analysis
8.5. FOOD AND BEVERAGE
8.5.1. Overview
8.5.2. Food and Beverage Market Forecast and Analysis
8.6. PHARMACEUTICAL
8.6.1. Overview
8.6.2. Pharmaceutical Market Forecast and Analysis
8.7. OTHERS
8.7.1. Overview
8.7.2. Others Market Forecast and Analysis
9. SUCCINIC ACID REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Succinic Acid Overview
9.1.2 North America Succinic Acid Forecasts and Analysis
9.1.3 North America Succinic Acid Forecasts and Analysis - By Type
9.1.4 North America Succinic Acid Forecasts and Analysis - By End-Use Industry
9.1.5 North America Succinic Acid Forecasts and Analysis - By Countries
9.1.5.1 Canada Succinic Acid
9.1.5.1.1 Canada Succinic Acid by Type
9.1.5.1.2 Canada Succinic Acid by End-Use Industry
9.1.5.2 Mexico Succinic Acid
9.1.5.2.1 Mexico Succinic Acid by Type
9.1.5.2.2 Mexico Succinic Acid by End-Use Industry
9.1.5.3 US Succinic Acid
9.1.5.3.1 US Succinic Acid by Type
9.1.5.3.2 US Succinic Acid by End-Use Industry
9.2. EUROPE
9.2.1 Europe Succinic Acid Overview
9.2.2 Europe Succinic Acid Forecasts and Analysis
9.2.3 Europe Succinic Acid Forecasts and Analysis - By Type
9.2.4 Europe Succinic Acid Forecasts and Analysis - By End-Use Industry
9.2.5 Europe Succinic Acid Forecasts and Analysis - By Countries
9.2.5.1 Germany Succinic Acid
9.2.5.1.1 Germany Succinic Acid by Type
9.2.5.1.2 Germany Succinic Acid by End-Use Industry
9.2.5.2 France Succinic Acid
9.2.5.2.1 France Succinic Acid by Type
9.2.5.2.2 France Succinic Acid by End-Use Industry
9.2.5.3 Italy Succinic Acid
9.2.5.3.1 Italy Succinic Acid by Type
9.2.5.3.2 Italy Succinic Acid by End-Use Industry
9.2.5.4 United Kingdom Succinic Acid
9.2.5.4.1 United Kingdom Succinic Acid by Type
9.2.5.4.2 United Kingdom Succinic Acid by End-Use Industry
9.2.5.5 Russia Succinic Acid
9.2.5.5.1 Russia Succinic Acid by Type
9.2.5.5.2 Russia Succinic Acid by End-Use Industry
9.2.5.6 Rest of Europe Succinic Acid
9.2.5.6.1 Rest of Europe Succinic Acid by Type
9.2.5.6.2 Rest of Europe Succinic Acid by End-Use Industry
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Succinic Acid Overview
9.3.2 Asia-Pacific Succinic Acid Forecasts and Analysis
9.3.3 Asia-Pacific Succinic Acid Forecasts and Analysis - By Type
9.3.4 Asia-Pacific Succinic Acid Forecasts and Analysis - By End-Use Industry
9.3.5 Asia-Pacific Succinic Acid Forecasts and Analysis - By Countries
9.3.5.1 Australia Succinic Acid
9.3.5.1.1 Australia Succinic Acid by Type
9.3.5.1.2 Australia Succinic Acid by End-Use Industry
9.3.5.2 China Succinic Acid
9.3.5.2.1 China Succinic Acid by Type
9.3.5.2.2 China Succinic Acid by End-Use Industry
9.3.5.3 India Succinic Acid
9.3.5.3.1 India Succinic Acid by Type
9.3.5.3.2 India Succinic Acid by End-Use Industry
9.3.5.4 Japan Succinic Acid
9.3.5.4.1 Japan Succinic Acid by Type
9.3.5.4.2 Japan Succinic Acid by End-Use Industry
9.3.5.5 South Korea Succinic Acid
9.3.5.5.1 South Korea Succinic Acid by Type
9.3.5.5.2 South Korea Succinic Acid by End-Use Industry
9.3.5.6 Rest of Asia-Pacific Succinic Acid
9.3.5.6.1 Rest of Asia-Pacific Succinic Acid by Type
9.3.5.6.2 Rest of Asia-Pacific Succinic Acid by End-Use Industry
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Succinic Acid Overview
9.4.2 Middle East and Africa Succinic Acid Forecasts and Analysis
9.4.3 Middle East and Africa Succinic Acid Forecasts and Analysis - By Type
9.4.4 Middle East and Africa Succinic Acid Forecasts and Analysis - By End-Use Industry
9.4.5 Middle East and Africa Succinic Acid Forecasts and Analysis - By Countries
9.4.5.1 South Africa Succinic Acid
9.4.5.1.1 South Africa Succinic Acid by Type
9.4.5.1.2 South Africa Succinic Acid by End-Use Industry
9.4.5.2 Saudi Arabia Succinic Acid
9.4.5.2.1 Saudi Arabia Succinic Acid by Type
9.4.5.2.2 Saudi Arabia Succinic Acid by End-Use Industry
9.4.5.3 U.A.E Succinic Acid
9.4.5.3.1 U.A.E Succinic Acid by Type
9.4.5.3.2 U.A.E Succinic Acid by End-Use Industry
9.4.5.4 Rest of Middle East and Africa Succinic Acid
9.4.5.4.1 Rest of Middle East and Africa Succinic Acid by Type
9.4.5.4.2 Rest of Middle East and Africa Succinic Acid by End-Use Industry
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Succinic Acid Overview
9.5.2 South and Central America Succinic Acid Forecasts and Analysis
9.5.3 South and Central America Succinic Acid Forecasts and Analysis - By Type
9.5.4 South and Central America Succinic Acid Forecasts and Analysis - By End-Use Industry
9.5.5 South and Central America Succinic Acid Forecasts and Analysis - By Countries
9.5.5.1 Brazil Succinic Acid
9.5.5.1.1 Brazil Succinic Acid by Type
9.5.5.1.2 Brazil Succinic Acid by End-Use Industry
9.5.5.2 Argentina Succinic Acid
9.5.5.2.1 Argentina Succinic Acid by Type
9.5.5.2.2 Argentina Succinic Acid by End-Use Industry
9.5.5.3 Rest of South and Central America Succinic Acid
9.5.5.3.1 Rest of South and Central America Succinic Acid by Type
9.5.5.3.2 Rest of South and Central America Succinic Acid by End-Use Industry
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. SUCCINIC ACID, KEY COMPANY PROFILES
11.1. ANHUI SUNSING CHEMICALS
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. ANQING HEXING CHEMICAL
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. BASF SE
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. GC INNOVATION AMERICA
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. KAWASAKI KASEI CHEMICALS
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. MYRIANT CORPORATION
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. NIPPON SHOKUBAI
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. REVERDIA
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. SPECTRUM CHEMICAL MANUFACTURING CORP.
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. SUCCINITY
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
1.Anhui Sunsing Chemicals2.Anqing Hexing Chemical3.BASF SE4.Gc Innovation America5.Kawasaki Kasei Chemicals6.Myriant Corporation7.Nippon Shokubai8.Reverdia9.Spectrum Chemical Manufacturing Corp.10.Succinity
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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