The global succinic acid market is projected to grow at a CAGR of 28% from 2019 to 2024. The growth of succinic acid market is driven by growing awareness of bio-based renewable substitutes, stringent government regulations, and increasing use of succinic acid as a substitute of adipic acid in polyurethane production.
Some of the Key Questions answered in this exclusive report are:
Q.1 What are some of the
most promising potential, high-growth opportunities for the global succinic
acid market by product type (bio-based and petro-based), application
(polyurethane, resins, coatings & pigments, pharmaceuticals, plasticizers,
food & beverage, PBS/PBT, solvents & lubricants, de-icer solutions,
personal care, and others), end use industry (industrial, food & beverage,
coatings, and pharmaceutical), and region (North America, Europe, Asia Pacific,
and the Rest of the World)?
Q.2 Which segments will
grow at a faster pace and why?
Q.3 What are the
business risks and threats to the succinic acid market?
Q.4 What are some
changing demands of customers in the succinic acid market?
Q.5 What are the new
developments in the succinic acid market? Which companies are leading these
developments?
Q.6 What strategic
initiatives are being implemented by key players for business growth?
Q.7 What are some of the
competitive products and processes in this succinic acid area and how big of a
threat do they pose for loss of market share via product substitution?
Q.8 What M&A
activity has occurred in the last 5 years in this succinic acid market?
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Market Segmentation:
Based on product type,
the succinic acid market is segmented into bio-based and petro-based),
application (polyurethane, resins, coatings & pigments, pharmaceuticals,
plasticizers, food & beverage, PBS/PBT, solvents & lubricants, de-icer
solutions, personal care, and others. The petro-based segment accounted for the
largest share of the market in 2020 and is expected to register the highest
CAGR during the forecast period.
APAC will remain the
largest market over the forecast period due to high economic growth, growing
manufacturing sector, cheap labor, increasing foreign investments,
agreements/collaborations and expansion, growing consumption of plastics, and a
global shift in the production capacity from the developed markets to the
emerging markets.
Key Players in the
succinic acid market are Bioamber, Myriant Corporation, Kawasaki Kasei
Chemicals Ltd., Linyi Lixing Chemical Co., Ltd., Anhui Sunsing Chemicals Co.,
Ltd., Mitsubishi Chemical Holdings Corporation, Succinity GmbH, Nippon Shokubai
Co. Ltd, Gadiv Petrochemical Industries Ltd., and Reverdia.
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The report helps stakeholders understand the
pulse of the market and provides them with information on key drivers,
restraints, challenges, and opportunities for market growth. It would also help
to understand the competitors better and gain more insights to improve their
position in the business.
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About
Lucintel
Lucintel,
the premier global management consulting and market research firm, creates
winning strategies for growth. It offers market assessments, competitive
analysis, opportunity
analysis, growth
consulting, M&A, and due diligence services to executives and
key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
Brandon
Fitzgerald
Lucintel
Dallas,
Texas, USA
Email: brandon.fitzgerald@lucintel.com
Tel. 972.636.5056
Cell: 303.775.0751
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