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Succinic Acid Market Size, Share & Trends Analysis Report by Type (Petro-based, Bio-based), by End Use (Food & Beverages, Pharmaceuticals, Industrial), by Region (North America, Europe, APAC, CSA, MEA), and Segment Forecasts, 2022-2030

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    Report

  • 100 Pages
  • April 2022
  • Region: Global
  • Grand View Research
  • ID: 5595775
The global succinic acid market size is expected to reach USD 512.8 million by 2030, registering a CAGR of 9.7% during the forecast period. The growth is attributed to a surge in demand from the end-use industries, such as food & beverages, pharmaceutical, and personal care & cosmetics. In the food & beverages industry, Succinic Acid (SA) is used as a food additive in dietary supplements and food preservation. In the pharmaceutical industry, the product finds application in the preparation of vitamin A and many anti-inflammatory products. It is also used in the formulation of cosmetics and personal care products, such as toothpaste, perfumes, nail polish, and liquid soaps.



Succinic acid is produced from Liquefied Petroleum Gas (LPG). Petroleum gas is often expensive. As an alternative to LPG-based production, succinic acid is generated by different microbes and is naturally formed by undertaking the process of anaerobic digestion. It is regarded as a common organic acid that is used in a variety of applications. Bio-based SA is similar in structure to petroleum-based products. However, it helps reduce carbon emission, as well as optimize and enhance the performance of the acid. Rising customer preference for biodegradable plastics and other greener materials is a key factor driving the market growth.

The COVID-19 pandemic crippled economies across the globe and severely impacted the supply chains across industries. The supply chain of raw materials for succinic acid production was drastically impacted, changing the production and consumption patterns globally. The industrial end-use segment dominated succinic acid consumption over the last decade. But a halt in the production of non-essential chemicals, ingredients, or industrial products during the pandemic hampered the demand for starting materials, adversely impacting the demand. However, with the lifting of lockdowns and movement restrictions, the market is expected to witness a steady rise in demand.

Succinic Acid Market Report Highlights

  • The bio-based type segment is estimated to register the fastest CAGR from 2022 to 2030 due to the increasing carbon footprint of petro-based products, price fluctuation of fossil fuels, and growing preference for locally-produced raw materials.
  • The industrial end-use segment is expected to register the fastest CAGR from 2022 to 2030 due to a wide application scope of the product as a raw material to produce numerous chemicals.
  • The product is used to develop biodegradable polyesters and polyurethanes, which are further used in paints, plastics, pesticides, rubber, nylon, solvents, and other industries.
  • Asia Pacific is projected to record the fastest CAGR from 2022 to 2030 due to the factors such as easy availability of low-cost labor and raw materials, growing disposable income, changing consumer lifestyles, and rapid growth of the packaging industry.
  • The global market is highly competitive due to the presence of many multinational companies. These companies take strategic decisions, such as mergers & acquisitions, joint ventures, and partnerships to gain a competitive advantage over others.


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Table of Contents

Chapter 1. Methodology and Scope
1.1 Market Segmentation & Scope
1.1.1 Market Definitions
1.2 Information Procurement
1.2.1 Purchased Database
1.2.2 Internal Database
1.3 Information Analysis
1.4 Market Formulation & Data Visualization
1.5 Data Validation & Publishing
1.5.1 Research Scope and Assumptions
1.5.2 List of Data Sources
Chapter 2. Executive Summary
2.1 Market Snapshot
2.2 Segmental Outlook
2.3 Impact of the COVID-19 Pandemic
Chapter 3. Succinic Acid Market : Type Estimates & Trend Analysis
3.1 Type Movement Analysis & Market Share, 2021 & 2030
3.1.1 Petro-based
3.1.1.1 Petro-Based Succinic Acid Market Estimates & Forecasts, 2018-2030 (Tons) (USD Thousand)
3.1.2 Bio-based
3.1.2.1 Bio-Based Succinic Acid Market Estimates & Forecasts, 2018-2030 (Tons) (USD Thousand)
Chapter 4. Succinic Acid Market: End-use Estimates & Trend Analysis
4.1 End-use Movement Analysis & Market Share, 2021 & 2030
4.1.1 Food & Beverages
4.1.1.1 Succinic Acid Market Estimates & Forecasts, In Food & Beverages, 2018-2030 (Tons) (USD Thousand)
4.1.2 Pharmaceuticals
4.1.2.1 Succinic Acid Market Estimates & Forecasts, In Pharmaceuticals, 2018-2030 (Tons) (USD Thousand)
4.1.3 Coatings
4.1.3.1 Succinic Acid Market Estimates & Forecasts, In Coatings, 2018-2030 (Tons) (USD Thousand)
4.1.4 Industrial
4.1.4.1 Succinic Acid Market Estimates & Forecasts, In Industrial, 2018-2030 (Tons) (USD Thousand)
4.1.5 Personal Care & Cosmetics
4.1.5.1 Succinic Acid Market Estimates & Forecasts, In Personal & Cosmetics, 2018 -2030 (Tons) (USD Thousand)
4.1.6 Others
4.1.6.1 Succinic Acid Market Estimates & Forecasts, In Others, 2018-2030 (Tons) (USD Thousand)
Chapter 5. Succinic Acid Market: Regional Estimates & Trend Analysis
5.1 Regional Movement Analysis & Market Share, 2021 & 2030
5.2 Succinic Acid Market Size & Forecasts and Trend Analysis by Region, 2018-2030 (Tons) (USD Thousand)
5.2.1 North America
5.2.1.1 North America Succinic Acid Market Estimates & Forecasts, by Type (Tons) (USD Thousand)
5.2.1.2 North America Succinic Acid Market Estimates & Forecasts, by End-Use (Tons) (USD Thousand)
5.2.1.3 U.S.
5.2.1.3.1 U.S. Succinic Acid Market Estimates & Forecasts, by Type (Tons) (USD Thousand)
5.2.1.3.2 U.S. Succinic Acid Market Estimates & Forecasts, by End-Use (Tons) (USD Thousand)
5.2.1.4 Canada
5.2.1.4.1 Canada Succinic Acid Market Estimates & Forecasts, by Type (Tons) (USD Thousand)
5.2.1.4.2 Canada Succinic Acid Market Estimates & Forecasts, by End-Use (Tons) (USD Thousand)
5.2.1.5 Mexico
5.2.1.5.1 Mexico Succinic Acid Market Estimates & Forecasts, by Type (Tons) (USD Thousand)
5.2.1.5.2 Mexico Succinic Acid Market Estimates & Forecasts, by End-Use (Tons) (USD Thousand)
5.2.2 Europe
5.2.2.1 Europe Succinic Acid Market Estimates & Forecasts, by Type (Tons) (USD Thousand)
5.2.2.2 Europe Succinic Acid Market Estimates & Forecasts, by End-Use (Tons) (USD Thousand)
5.2.2.3 Germany
5.2.2.3.1 Germany Succinic Acid Market Estimates & Forecasts, by Type (Tons) (USD Thousand)
5.2.2.3.2 Germany Succinic Acid Market Estimates & Forecasts, by End-Use (Tons) (USD Thousand)
5.2.2.4 U.K.
5.2.2.4.1 U.K. Succinic Acid Market Estimates & Forecasts, by Type (Tons) (USD Thousand)
5.2.2.4.2 U.K. Succinic Acid Market Estimates & Forecasts, by End-Use (Tons) (USD Thousand)
5.2.2.5 France
5.2.2.5.1 France Succinic Acid Market Estimates & Forecasts, by Type (Tons) (USD Thousand)
5.2.2.5.2 France Succinic Acid Market Estimates & Forecasts, by End-Use (Tons) (USD Thousand)
5.2.2.6 Italy
5.2.2.6.1 Italy Succinic Acid Market Estimates & Forecasts, by Type (Tons) (USD Thousand)
5.2.2.6.2 Italy Succinic Acid Market Estimates & Forecasts, by End-Use (Tons) (USD Thousand)
5.2.2.7 Spain
5.2.2.7.1 Spain Succinic Acid Market Estimates & Forecasts, by Type (Tons) (USD Thousand)
5.2.2.7.2 Spain Succinic Acid Market Estimates & Forecasts, by End-Use (Tons) (USD Thousand)
5.2.3 Asia Pacific
5.2.3.1 Asia Pacific Succinic Acid Market Estimates & Forecasts, by Type (Tons) (USD Thousand)
5.2.3.2 Asia Pacific Succinic Acid Market Estimates & Forecasts, by End-Use (Tons) (USD Thousand)
5.2.3.3 China
5.2.3.3.1 China Succinic Acid Market Estimates & Forecasts, by Type (Tons) (USD Thousand)
5.2.3.3.2 China Succinic Acid Market Estimates & Forecasts, by End-Use (Tons) (USD Thousand)
5.2.3.4 India
5.2.3.4.1 India Succinic Acid Market Estimates & Forecasts, by Type (Tons) (USD Thousand)
5.2.3.4.2 India Succinic Acid Market Estimates & Forecasts, by End-Use (Tons) (USD Thousand)
5.2.3.5 Japan
5.2.3.5.1 Japan Succinic Acid Market Estimates & Forecasts, by Type (Tons) (USD Thousand)
5.2.3.5.2 Japan Succinic Acid Market Estimates & Forecasts, by End-Use (Tons) (USD Thousand)
5.2.3.6 South Korea
5.2.3.6.1 South Korea Succinic Acid Market Estimates & Forecasts, by Type (Tons) (USD Thousand)
5.2.3.6.2 South Korea Succinic Acid Market Estimates & Forecasts, by End-Use (Tons) (USD Thousand)
5.2.3.7 Thailand
5.2.3.7.1 Thailand Succinic Acid Market Estimates & Forecasts, by Type (Tons) (USD Thousand)
5.2.3.7.2 Thailand Succinic Acid Market Estimates & Forecasts, by End-Use (Tons) (USD Thousand)
5.2.4 Central & South America
5.2.4.1 Central & South America Succinic Acid Market Estimates & Forecasts, by Type (Tons) (USD Thousand)
5.2.4.2 Central & South America Succinic Acid Market Estimates & Forecasts, by End-Use (Tons) (USD Thousand)
5.2.4.3 Brazil
5.2.4.3.1 Brazil Succinic Acid Market Estimates & Forecasts, by Type (Tons) (USD Thousand)
5.2.4.3.2 Brazil Succinic Acid Market Estimates & Forecasts, by End-Use (Tons) (USD Thousand)
5.2.4.4 Argentina
5.2.4.4.1 Argentina Succinic Acid Market Estimates & Forecasts, by Type (Tons) (USD Thousand)
5.2.4.4.2 Argentina Succinic Acid Market Estimates & Forecasts, by End-Use (Tons) (USD Thousand)
5.2.5 Middle East & Africa
5.2.5.1 Middle East & Africa Succinic Acid Market Estimates & Forecasts, by Type (Tons) (USD Thousand)
5.2.5.2 Middle East & Africa Succinic Acid Market Estimates & Forecasts, by End-Use (Tons) (USD Thousand)
5.2.5.3 Saudi Arabia
5.2.5.3.1 Saudi Arabia Succinic Acid Market Estimates & Forecasts, by Type (Tons) (USD Thousand)
5.2.5.3.2 Saudi Arabia Succinic Acid Market Estimates & Forecasts, by End-Use (Tons) (USD Thousand)
5.2.5.4 South Africa
5.2.5.4.1 South Africa Succinic Acid Market Estimates & Forecasts, by Type (Tons) (USD Thousand)
5.2.5.4.2 South Africa Succinic Acid Market Estimates & Forecasts, by End-Use (Tons) (USD Thousand)
Chapter 6. Succinic Acid Market: Competitive Analysis Estimates & Trend Analysis
6.1 Key Existing and Future Developments & Their Impact On The Industry
6.2 Vendor Landscape
6.2.1 List of Key Raw Materials Suppliers
6.2.2 List of Key Manufacturers
6.2.2.1 Production Capacity Analysis
6.2.3 List of Key Distributors/Suppliers
6.2.4 List of Potential End Users
Chapter 7 Succinic Acid Market: Company Profiles
7.1 ThyssenKrupp AG
7.1.1 Company Overview
7.1.2 Financial Performance
7.1.3 Product Portfolio
7.1.4 Strategy Framework
7.2 Merck KGaA
7.2.1 Company Overview
7.2.2 Financial Performance
7.2.3 Product Portfolio
7.2.4 Strategy Framework
7.3 Ernesto Ventos S.A.
7.3.1 Company Overview
7.3.2 Financial Performance
7.3.3 Product Portfolio
7.3.4 Strategy Framework
7.4 ProChem, Inc.
7.4.1 Company Overview
7.4.2 Financial Performance
7.4.3 Product Portfolio
7.4.4 Strategy Framework
7.5 The Chemical company
7.5.1 Company Overview
7.5.2 Financial Performance
7.5.3 Product Portfolio
7.5.4 Strategy Framework
7.6 SAE Manufacturing Specialist Corp.
7.6.1 Company Overview
7.6.2 Financial Performance
7.6.3 Product Portfolio
7.6.4 Strategy Framework
7.7 Purac
7.7.1 Company Overview
7.7.2 Financial Performance
7.7.3 Product Portfolio
7.7.4 Strategy Framework
7.8 Anhui Sunsing Chemicals Co., Ltd.
7.8.1 Company Overview
7.8.2 Financial Performance
7.8.3 Product Portfolio
7.8.4 Strategy Framework
7.9 Gadiv Petrochemical Industries (Israel)
7.9.1 Company Overview
7.9.2 Financial Performance
7.9.3 Product Portfolio
7.9.4 Strategy Framework
7.10 BASF SE
7.10.1 Company Overview
7.10.2 Financial Performance
7.10.3 Product Portfolio
7.10.4 Strategy Framework
7.11 Kawasaki Kasei Chemicals Ltd.
7.11.1 Company Overview
7.11.2 Financial Performance
7.11.3 Product Portfolio
7.11.4 Strategy Framework
7.12 Mitsubishi Chemical Corporation
7.12.1 Company Overview
7.12.2 Financial Performance
7.12.3 Product Portfolio
7.12.4 Strategy Framework
7.13 Myriant Corporation
7.13.1 Company Overview
7.13.2 Financial Performance
7.13.3 Product Portfolio
7.13.4 Strategy Framework
7.14 Succinity GmbH
7.14.1 Company Overview
7.14.2 Financial Performance
7.14.3 Product Portfolio
7.14.4 Strategy Framework
7.15 BioAmber
7.15.1 Company Overview
7.15.2 Financial Performance
7.15.3 Product Portfolio
7.15.4 Strategy Framework
7.16 Nippon Shokubai (Japan)
7.16.1 Company Overview
7.16.2 Financial Performance
7.16.3 Product Portfolio
7.16.4 Strategy Framework

Companies Mentioned

  • Thyssenkrupp AG
  • Merck Kgaa
  • Ernesto Ventos S.A.
  • Prochem, Inc.
  • the Chemical Company
  • Sae Manufacturing Specialist Corp.
  • Purac
  • Anhui Sunsing Chemicals Co. Ltd.
  • Gadiv Petrochemical Industries (Israel)
  • Basf Se
  • Kawasaki Kasei Chemicals Ltd.
  • Mitsubishi Chemical Corporation
  • Myriant Corporation
  • Succinity GmbH
  • Bioamber
  • Nippon Shokubai (Japan)

Methodology

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Table Information