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Asia Pacific Succinic Acid Market Size, Share & Trends Analysis Report By Type (Petro-based, and Bio-based), By End-use (Industrial, Food & Beverages, Coatings, Pharmaceutical, Personal Care & Cosmetics, and Others), By Country and Growth Forecast, 2023 - 2030

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    Report

  • 120 Pages
  • January 2024
  • Region: Asia Pacific
  • Marqual IT Solutions Pvt. Ltd (KBV Research)
  • ID: 5928506
The Asia Pacific Succinic Acid Market would witness market growth of 10.2% CAGR during the forecast period (2023-2030). In the year 2021, the Asia Pacific market's volume surged to 26,628.9 tonnes, showcasing a growth of 9.4% (2019-2022).

Succinic acid (SA), also called butanedioic acid, is a naturally occurring dicarboxylic acid found in various living organisms. It is a pivotal intermediate in the tricarboxylic acid (TCA) cycle, playing a crucial role in cellular metabolism. Chemically, it is a colorless crystalline solid with a slightly acidic taste, making it a valuable component in the food and pharmaceutical industries. In recent years, succinic acid has garnered attention as a platform chemical due to its potential in producing bio-based materials and polymers.

Moreover, it is increasingly utilized in pharmaceutical, construction, and infrastructure development, contributing to the expansion. It is manufactured using bio-based and petroleum-based materials. It is expected that the growing preference for succinic acid over butane-based maleic anhydride in the production of chemicals traditionally manufactured from butane, including succinic anhydride, plastics, diethylmaleate, polymers, fumaric, and glyoxylic acid, will have a positive impact on market growth.

According to the Ministry of Economy, Trade and Industry (METI) report updated in 2021, Japan's cosmetics and personal care industry was valued at approximately $35 billion in 2019. Skincare products are used by 53% of the Japanese cosmetics industry. It can be a natural additive in various cosmetics, contributing to product stability and performance. Its use aligns with the trend towards clean beauty and the demand for cosmetics with minimal synthetic additives. Due to the aforementioned factors the market growth will drive in this region.

The China market dominated the Asia Pacific Succinic Acid Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $37,302.9 Thousands by 2030. The Japan market is experiencing a CAGR of 9.6% during (2023 - 2030). Additionally, The India market would exhibit a CAGR of 10.9% during (2023 - 2030).

Based on Type, the market is segmented into Petro-based, and Bio-based. Based on End-use, the market is segmented into Industrial, Food & Beverages, Coatings, Pharmaceutical, Personal Care & Cosmetics, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.

List of Key Companies Profiled

  • BASF SE
  • Parchem – Fine & Specialty Chemicals
  • The Dow Chemical Company
  • Mitsubishi Chemical Holdings Corporation
  • Nippon Shokubai Co., Ltd.
  • Roquette Freres SA
  • Spectrum Chemical Mfg. Corp (Spectrum Laboratory Products, Inc.)
  • The Chemical Company
  • Ernesto Ventos S.A.
  • Anhui Sunsing Chemicals Co., Ltd.

Market Report Segmentation

By Type (Volume, Tonnes, USD Million, 2019-2030)
  • Petro-based
  • Bio-based
By End-use (Volume, Tonnes, USD Million, 2019-2030)
  • Industrial
  • Food & Beverages
  • Coatings
  • Pharmaceutical
  • Personal Care & Cosmetics
  • Others
By Country(Volume, Tonnes, USD Million, 2019-2030)
  • China
  • Japan
  • India
  • South Korea
  • Singapore
  • Malaysia
  • Rest of Asia Pacific

Table of Contents

Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Asia Pacific Succinic Acid Market, by Type
1.4.2 Asia Pacific Succinic Acid Market, by End-use
1.4.3 Asia Pacific Succinic Acid Market, by Country
1.5 Methodology for the research
Chapter 2. Market at a Glance
2.1 Key Highlights
Chapter 3. Market Overview
3.1 Introduction
3.1.1 Overview
3.1.1.1 Market Composition and Scenario
3.2 Key Factors Impacting the Market
3.2.1 Market Drivers
3.2.2 Market Opportunities
3.2.3 Market Restraints
3.2.4 Market Challenges
3.3 Porter’s Five Forces Analysis
Chapter 4. Asia Pacific Succinic Acid Market by Type
4.1 Asia Pacific Petro-based Market by Country
4.2 Asia Pacific Bio-based Market by Country
Chapter 5. Asia Pacific Succinic Acid Market by End-use
5.1 Asia Pacific Industrial Market by Country
5.2 Asia Pacific Food & Beverages Market by Country
5.3 Asia Pacific Coatings Market by Country
5.4 Asia Pacific Pharmaceutical Market by Country
5.5 Asia Pacific Personal Care & Cosmetics Market by Country
5.6 Asia Pacific Others Market by Country
Chapter 6. Asia Pacific Succinic Acid Market by Country
6.1 China Succinic Acid Market
6.1.1 China Succinic Acid Market by Type
6.1.2 China Succinic Acid Market by End-use
6.2 Japan Succinic Acid Market
6.2.1 Japan Succinic Acid Market by Type
6.2.2 Japan Succinic Acid Market by End-use
6.3 India Succinic Acid Market
6.3.1 India Succinic Acid Market by Type
6.3.2 India Succinic Acid Market by End-use
6.4 South Korea Succinic Acid Market
6.4.1 South Korea Succinic Acid Market by Type
6.4.2 South Korea Succinic Acid Market by End-use
6.5 Singapore Succinic Acid Market
6.5.1 Singapore Succinic Acid Market by Type
6.5.2 Singapore Succinic Acid Market by End-use
6.6 Malaysia Succinic Acid Market
6.6.1 Malaysia Succinic Acid Market by Type
6.6.2 Malaysia Succinic Acid Market by End-use
6.7 Rest of Asia Pacific Succinic Acid Market
6.7.1 Rest of Asia Pacific Succinic Acid Market by Type
6.7.2 Rest of Asia Pacific Succinic Acid Market by End-use
Chapter 7. Company Profiles
7.1 BASF SE
7.1.1 Company Overview
7.1.2 Financial Analysis
7.1.3 Segmental and Regional Analysis
7.1.4 Research & Development Expense
7.1.5 SWOT Analysis
7.2 Parchem - Fine & Specialty Chemicals
7.2.1 Company Overview
7.2.2 SWOT Analysis
7.3 The Dow Chemical Company
7.3.1 Company Overview
7.3.2 Financial Analysis
7.3.3 Segmental and Regional Analysis
7.3.4 Research & Development Expenses
7.3.5 SWOT Analysis
7.4 Mitsubishi Chemical Holdings Corporation
7.4.1 Company Overview
7.4.2 Financial Analysis
7.4.3 Segmental Analysis
7.4.4 Research & Development Expense
7.4.5 SWOT Analysis
7.5 Nippon Shokubai Co., Ltd.
7.5.1 Company Overview
7.5.2 Financial Analysis
7.5.3 Segmental and Regional Analysis
7.5.4 SWOT Analysis
7.6 Roquette Freres SA
7.6.1 Company Overview
7.6.2 SWOT Analysis
7.7 Spectrum Chemical Mfg. Corp (Spectrum Laboratory Products, Inc.)
7.7.1 Company Overview
7.7.2 SWOT Analysis
7.8 The Chemical Company
7.8.1 Company Overview
7.9 Ernesto Ventos S.A.
7.9.1 Company Overview
7.10. Anhui Sunsing Chemicals Co., Ltd.
7.10.1 Company Overview

Companies Mentioned

  • BASF SE
  • Parchem – Fine & Specialty Chemicals
  • The Dow Chemical Company
  • Mitsubishi Chemical Holdings Corporation
  • Nippon Shokubai Co., Ltd.
  • Roquette Freres SA
  • Spectrum Chemical Mfg. Corp (Spectrum Laboratory Products, Inc.)
  • The Chemical Company
  • Ernesto Ventos S.A.
  • Anhui Sunsing Chemicals Co., Ltd.

Methodology

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