Succinic Acid - Global Strategic Business Report

The global market for Succinic Acid is estimated at US$163.5 Million in 2023 and is projected to reach US$235.9 Million by 2030, growing at a CAGR of 5.4% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.

The growth in the succinic acid market is driven by several factors. Advancements in fermentation processes have significantly improved the efficiency and yield of bio-based succinic acid production, making it more cost-competitive with traditional petrochemical methods. This shift towards sustainable production is supported by stringent environmental regulations and a growing consumer preference for eco-friendly products. The rising demand for biodegradable plastics and green solvents in various industries, including packaging, automotive, and consumer goods, is a major driver of market expansion. As industries strive to reduce their environmental footprint, the adoption of succinic acid-based solutions is accelerating. Additionally, the expanding agricultural sector, driven by the need to increase food production and improve soil health, is boosting demand for succinic acid-based fertilizers and soil conditioners. The pharmaceutical and food industries also contribute to the market`s growth, with ongoing product development and innovation driving the need for high-purity succinic acid. These trends indicate a robust and growing market for succinic acid, supported by continuous innovations and the expanding scope of its applications across various sectors.

Key Insights:

• Market Growth: Understand the significant growth trajectory of the Petro-based Succinic Acid segment, which is expected to reach US$152.0 Million by 2030 with a CAGR of a 5.8%. The Bio-based Succinic Acid segment is also set to grow at 4.6% CAGR over the analysis period.
• Regional Analysis: Gain insights into the U.S. market, estimated at $44.0 Million in 2023, and China, forecasted to grow at an impressive 9.0% CAGR to reach $52.0 Million by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.

Why You Should Buy This Report:

• Detailed Market Analysis: Access a thorough analysis of the Global Succinic Acid Market, covering all major geographic regions and market segments.
• Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
• Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Succinic Acid Market.
• Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.

Key Questions Answered:

• How is the Global Succinic Acid Market expected to evolve by 2030?
• What are the main drivers and restraints affecting the market?
• Which market segments will grow the most over the forecast period?
• How will market shares for different regions and segments change by 2030?
• Who are the leading players in the market, and what are their prospects?

Report Features:

• Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
• In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
• Company Profiles: Coverage of major players such as Anqing He Xing Chemical Corporation Ltd., BASF SE, Kawasaki Kasei Chemicals Ltd., and more.
• Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.

Select Competitors (Total 22 Featured):

• Anqing He Xing Chemical Corporation Ltd.
• BASF SE
• Kawasaki Kasei Chemicals Ltd.
• Klorman Industries
• Koninklijke DSM N.V.
• Mitsubishi Corporation
• Myriant Corporation
• Nano-Green Biorefineries Inc.
• Nippon Shokubai Co., Ltd.
• QunaSys, Inc.