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Succinic Acid Market is Projected to Reach US$ 500 Million By 2023
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New York, June 10, 2018: Succinic acid is white, solid and odourless chemical compound. It is mainly used as feedstock for many materials such as polymers, resins and solvents. FDA has approved it as as safe for additives in food and dietary supplements.
Increasing demand for bio based succinic is challenging the market players to meet the needs of consumers which is a driver for global succinic acid market. Rising demand in pharmaceuticals industry is one of the driving factors. Personal care and pharmaceutical market account the largest share in the market which is major driving factor for global market.
The global succinic acid market according to its source is segmented as petroleum-based and bio-based. The following market by application is segmented as 1, 4 butanediol, polyurethane, food and beverages, resins, coatings & pigments, plasticizers, pharmacy, de-icer solutions, PBS/PBST, solvents & lubricants, personal care, and others applications. The market segments in terms of geographical regions include North America, Europe, Asia-Pacific and Rest of the World(ROW).
The scope of the report includes a detailed study of global and regional markets for various types of coatings with the reasons given for variations in the growth of the industry in certain regions.
Global Succinic acid market is anticipated to exceed more than USD 500 million by 2023. The revenue of this market is projected to increase at CAGR of 21% during the forecast period. Europe is a leading market for succinic acid industry by revenue which accounted largest share worldwide. Asia Pacific is a second leading market and will grow with highest growth rate at a CAGR of 28% owing to exponential demand for succinic acid in various end-use applications such as pharmaceuticals and personal care industry. China is known for largest consumer of succinic acid in Asia Pacific acid.
Browse Full Report: https://www.marketresearchengine.com/reportdetails/succinic-acid-market
The report covers detailed competitive outlook including the market share and company profiles of the key participants operating in the global market.
Key players profiled in the report include:
• BioAmber Inc
• Gadiv Petrochemical industries ltd
• Kawasaki Kasei Chemicals Ltd
• Mitsubishi Chemical Corporation
• Mitsui & Co. Ltd
• Myriant Corporation
• Nippon Shokubai Co. Ltd
• PTT Global Chemical Public Co. Ltd
• BASF SE
• Roquette Freres S.A
• DSM N.V
Company profile includes assign such as company summary, financial summary, business strategy and planning, SWOT analysis and current developments.
The Top Companies Report is intended to provide our buyers with a snapshot of the industry’s most influential players.
Reasons to buy this Report:
1) Obtains the most up to date information available on all active and planned succinic acid industry globally.
2) Identify growth segments and opportunities in the industry.
3) Facilitate decision making on the basis of strong historic and forecast of succinic acid industry and unit capacity data.
4) Assess your competitor’s refining portfolio and its evolution.
Buy Report from here: https://www.marketresearchengine.com/requestsample/succinic-acid-market
The Succinic acidMarket has been segmented as below:
by Source Type
by Application Type
• 1, 4 Butanediol
• Food and Beverages
• Coatings & Pigments
• De-icer solutions
• Solvents & Lubricants
• Personal Care
by Regional Analysis:
• North America
• Asia Pacific
• Rest of the World (RoW)
This report provides:
1) An overview of the global market for succinic acid and related technologies.
2) Analyses of global market trends, with data from 2015, estimates for 2016 and 2017, and projections of compound annual growth rates (CAGRs) through 2022.
3) Identifications of new market opportunities and targeted promotional plans for succinic acid market.
4) Discussion of research and development, and the demand for new products and new applications.
5) Comprehensive company profiles of major players in the industry.
Company Name: Market Research Engine
Contact Person: John Bay
Country: United States
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