Succinic Acid Market is estimated to reach USD 701.0 million by 2021, registering a CAGR of 28.0% from 2016 to 2021. The market is projected to register a CAGR of 27.2% from 2016 and reach 251.3 kilotons by 2021. The increasing demand from the polyurethanes, plastic, and food packaging industries fuels the growth of the succinic acid market.
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Bio-based succinic acids used in the PBS/PBST segment is also used in packaging of food, as these are non-toxic, biodegradable, and also have better heat resistance and process ability in comparison to other biopolymers. They also provide high quality, low volatility, and durability to the plastics.
The key drivers for the succinic acid market in this application segment are the increasing disposable income, changing consumer lifestyles, increased use of plastics, and the growing packaging industry.
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1 Attractive Opportunities in Succinic Acid Market
2 Succinic Acid Market, By Region (2016-2021)
3 Succinic Acid Market in Western Europe, 2015
4 Succinic Acid Market, By Type (2016-2021)
5 Succinic Acid Market: Emerging vs. Mature Markets
6 Fastest-Growing Markets, By Application
7 Life Cycle Analysis By Region
These factors have fueled the demand for non-toxic, bio-degradable PET bottles, food containers, disposable syringes, blood bags, and other consumer goods in countries such as China, India, Japan, the U.S., and Germany, among others that have led to the growth of succinic acid in the PBS/PBST application segment.
More Information on Succinic Acid Market with Top Trends and Company Profiles at www.rnrmarketresearch.com/contacts/58718 .
Asia-Pacific is the fastest-growing market of succinic acid, in terms of value and volume. High economic growth, growing manufacturing industries, cheap labor, increasing foreign investments, agreement/collaboration, expansion, increasing consumption of plastics, and a global shift in production capacity from the developed markets to emerging markets is the major factors leading to the growth of succinic acid in this region.
2 Agreement/Collaboration: the Most Popular Growth Strategy
3 Competitive Situations and Trends
4 Global Production Capacity of Bio-Based Succinic Acid
This study has been validated through primary interviews with various industry experts globally. The break-up profile of primary discussion participants is given here Tier 1 (35%); Tier 2 (45%) and other (20%) companies were contacted for interviews.
The interviews were conducted with various key people such as C Level (35%), Directors Level (25%) and other (40%) from various key organizations. The primary interviews were conducted worldwide covering regions such as North America (45%), Europe (20%), Asia-Pacific (30%) and Row (5%).
Succinic Acid Market by Type (Bio-based, Petro-based), Application (Polyurethane, Resins, Coatings & Pigments, Pharmaceuticals, Plasticizers, Food & Beverage, PBS/PBST, Solvents & Lubricants, De-Icer Solutions, Personal Care, and Others), and by Region - Global Forecast to 2021 at www.rnrmarketresearch.com/contacts/?rname=58718 .
The report also provides company profiles and competitive strategies adopted by the major market players, such as BioAmber (Canada), Myriant (U.S.), Succinity GmbH (Germany), Reverdia (Netherlands), Nippon Shokubai (Japan), Mitsubishi Chemical Holdings Corporation (Tokyo), Kawasaki Kasei Chemicals Ltd. (Japan), Linyi Lixing chemical Co., Ltd (China), Anhui Sunsing Chemicals (China), and Gadiv Petrochemical Industries Ltd.
(Israel), among others.
The report offers market estimations and projections till 2021 and offers a complete study of the market dynamics. In addition, the report provides the competitive landscape with major growth strategies adopted by the key players.
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