Succinic Acid Market – Industry Trends and Forecast to 2028

Global Succinic Acid Market, By Type (Bio- Based Succinic Acid, Petro- Based Succinic Acid), End- Use (Industrial, Food & Beverages, Coatings, Pharmaceutical, Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028.

The succinic acid market is expected to gain market growth in the forecast period of 2021 to 2028. Data bridge market research analyses that the market is growing with the CAGR of 15.03% in the forecast period of 2021 to 2028 and is expected to reach USD 368.15 billion by 2028. The increasing demand from the industrial, personal care and food & beverage industries is escalating the growth of succinic acid market.

 

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**Segments**

- **Type**: The succinic acid market can be segmented by type into bio-based succinic acid and synthetic succinic acid. Bio-based succinic acid is derived from renewable resources, making it environmentally friendly and sustainable. On the other hand, synthetic succinic acid is produced using fossil fuels and chemical processes.
- **Application**: The market can also be segmented by application, including pharmaceuticals, food & beverage, resin, coatings & pigments, and others. Succinic acid is used in the pharmaceutical industry for drug formulation and as an excipient. It is also utilized in food and beverage as a flavoring agent and preservative. In the resin, coatings, and pigments industry, succinic acid is applied in the production of various materials.

**Market Players**

- **BioAmber Inc.**: A leading producer of bio-based succinic acid, BioAmber Inc. offers sustainable solutions for various industries. Their innovative approach to succinic acid production has gained significant traction in the market.
- **Reverdia**: A joint venture between Royal DSM and Roquette Freres, Reverdia focuses on producing bio-based succinic acid using renewable feedstock. Their commitment to sustainability and product quality has positioned them as a key player in the market.
- **Succinity GmbH**: A subsidiary of BASF and Corbion, Succinity GmbH is a major manufacturer of bio-based succinic acid. Their strategic partnerships and strong R&D capabilities have contributed to their success in the market.
- **Nippon Shokubai Co., Ltd.**: A global chemical company, Nippon Shokubai Co., Ltd. offers synthetic succinic acid for various industrial applications. Their diverse product portfolio and extensive market presence make them a significant player in the succinic acid industry.

https://www.databridgemarketresearch.com/reports/global-succinic-acid-marketThe global succinic acid market is expected to witness significant growth in the coming years due to increasing awareness regarding sustainable practices and the rising demand for bio-based products. One of the key trends shaping the market is the shift towards bio-based succinic acid, driven by concerns over environmental impact and the need for renewable resources. Companies like BioAmber Inc., Reverdia, and Succinity GmbH are at the forefront of this movement, offering innovative solutions that cater to the growing demand for environmentally friendly alternatives. These market players are leveraging their expertise in bio-based technologies to develop sustainable succinic acid products that meet the stringent requirements of various industries.

Moreover, the application of succinic acid across different sectors such as pharmaceuticals, food & beverage, and resin, coatings & pigments is further fueling market growth. In the pharmaceutical industry, succinic acid is used for drug formulation and as an excipient, highlighting its versatility and importance in the healthcare sector. Additionally, its role as a flavoring agent and preservative in food and beverage applications underscores its widespread use in everyday consumer products. The resin, coatings, and pigments industry also relies on succinic acid for the production of various materials, emphasizing its diverse range of applications and market potential.

As the global economy continues to emphasize sustainability and environmental responsibility, the demand for bio-based succinic acid is expected to surge, creating opportunities for market players to capitalize on this growing trend. Companies like Nippon Shokubai Co., Ltd., with their expertise in synthetic succinic acid production, also play a crucial role in meeting industrial demands and driving technological advancements in the market. Their extensive product portfolio and market presence position them as key players in the succinic acid industry, contributing to the overall growth and development of the market.

Overall, the succinic acid market presents a dynamic landscape characterized by innovation, sustainability, and diversification. With a strong focus on bio-based solutions and a wide range of applications across various industries, succinic acid is poised to become**Segments**

- **Type**: The succinic acid market can be segmented by type into bio-based succinic acid and synthetic succinic acid. Bio-based succinic acid is derived from renewable resources, making it environmentally friendly and sustainable. On the other hand, synthetic succinic acid is produced using fossil fuels and chemical processes.
- **Application**: The market can also be segmented by application, including pharmaceuticals, food & beverage, resin, coatings & pigments, and others. Succinic acid is used in the pharmaceutical industry for drug formulation and as an excipient. It is also utilized in food and beverage as a flavoring agent and preservative. In the resin, coatings, and pigments industry, succinic acid is applied in the production of various materials.

**Market Players**

- **BioAmber Inc.**: A leading producer of bio-based succinic acid, BioAmber Inc. offers sustainable solutions for various industries. Their innovative approach to succinic acid production has gained significant traction in the market.
- **Reverdia**: A joint venture between Royal DSM and Roquette Freres, Reverdia focuses on producing bio-based succinic acid using renewable feedstock. Their commitment to sustainability and product quality has positioned them as a key player in the market.
- **Succinity GmbH**: A subsidiary of BASF and Corbion, Succinity GmbH is a major manufacturer of bio-based succinic acid. Their strategic partnerships and strong R&D capabilities have contributed to their success in

 

Table of Content:

Part 01: Executive Summary

Part 02: Scope of the Report

Part 03: Global Succinic Acid Market Landscape

Part 04: Global Succinic Acid Market Sizing

Part 05: Global Succinic Acid Market Segmentation by Product

Part 06: Five Forces Analysis

Part 07: Customer Landscape

Part 08: Geographic Landscape

Part 09: Decision Framework

Part 10: Drivers and Challenges

Part 11: Market Trends

Part 12: Vendor Landscape

Part 13: Vendor Analysis

Succinic Acid Key Benefits over Global Competitors:

  • The report provides a qualitative and quantitative analysis of the Succinic Acid Market trends, forecasts, and market size to determine new opportunities.
  • Porter’s Five Forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make strategic business decisions and determine the level of competition in the industry.
  • Top impacting factors & major investment pockets are highlighted in the research.
  • The major countries in each region are analyzed and their revenue contribution is mentioned.
  • The market player positioning segment provides an understanding of the current position of the market players active in the Personal Care Ingredients

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