Succinic Acid Market
Succinic Acid Market Analysis By Type (Petro-based Succinic Acid & Bio-based Succinic Acid) By End-Use (Industrial Sector, Coatings, Food & Beverages, Cosmetics) & By Region (North America, Latin America, Europe, APAC & MEA) - Global Market Insights 2022 to 2032
Analysis of Succinic Acid market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Succinic Acid Market Outlook (2022 to 2032)
Global Succinic Acid Market currently accounts for a valuation of US$ 160.8 million and is estimated to climb to US$ 301.4 million by the end of 2032. Consumption of succinic acid is predicted to increase at 6.5% CAGR from 2022 to 2032.
Rising use of polyurethane and tetrahydrofuran is expected to propel the sales of succinic acid in the industrial sector. This new succinic acid market analysis by Fact.MR suggests that the market will be majorly driven by increasing demand for succinic acid in the pharmaceutical and personal care industries.
| Report Attributes | Details |
|---|---|
| Global Succinic Acid Market Size (2022) | US$ 160.8 Million |
| Predicted Market Value (2032F) | US$ 301.4 Million |
| Global Market Growth Rate (2022 to 2032) | 6.5% CAGR |
| North America Market Share (2022) | 32.6% |
| Key Companies Profiled | Thyssenkrupp AG; BASF SE; Roquette Frères; Kawasaki Kasei Chemicals; NIPPON SHOKUBAI CO. LTD; Ernesto Ventós S.A.; Spectrum Chemical Manufacturing Corp; FUSO CHEMICAL CO. LTD.; R-Biopharm AG; ESIM Chemicals; Anhui Sunsing Chemicals Co. Ltd.; Novomer Inc. |
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Succinic Acid Consumption Analysis (2017 to 2021) Vs. Market Growth Forecasts (2022 to 2032)
Succinic acid is non-toxic in nature, antimicrobial, and anti-inflammatory, and these properties are expected to drive its demand across the forecast period. Increasing popularity of the aforementioned characteristics is expected to drive demand for succinic acid for skin treatment and acne treatment.
Succinic acid for acne treatment is being recommended by dermatologists, and hence, companies are focusing on creating hydrating gels with succinic acid to meet increasing demand.
As per this succinic acid market report, the industry exhibited expansion at a CAGR of 5.4% from 2017 to 2021.
Succinic acid is also being widely used in several industries as a solvent and raw material for the manufacturing of different products. Rising focus on the consumption of organic products is also expected to positively impact shipments of succinic acid.
Increasing use of succinic acid as a feedstock for the production of plasticizers is also expected to provide lucrative opportunities for succinic acid manufacturers throughout the forecast period.
Rising use of bio-based succinic acid in the food industry to manufacture succinic acid food additives as demand for them increases with increasing food consumption across developed and developing countries alike. However, the high costs of production of succinic acid are expected to have a constraining effect on the global industry growth.
The worldwide market for succinic acids is expected to expand at a CAGR of 6.5% from 2022 to 2032.
How are Sales of Succinic Acid Evolving across Regional Market?
“Demand for Succinic Acid to Remain Highest in North America”
The North America succinic acid market is projected to account for a revenue of US$ 102.3 million and a market share of 33.9% in the global industry by the end of 2032. Rising use of food additives in the food industry in the region is expected to prominently drive succinic acid market demand.
Rising demand for food preservatives and additives in the economies of India and China are expected to significantly boost market potential in the APAC region. Succinic acid food additives are expected to see a high increase in sales across the forecast period in this region.
The Asia Pacific succinic acid market accounts for US$ 45.9 million and is projected to expand at a high CAGR of 6.8% from 2022 to 2032.
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Country-wise Insights
Why is Demand for Succinic Acid in Cosmetics Industry High in the United States?
“Rising Demand for Organic Cosmetic Products to Boost Bio-Succinic Acid Consumption”
The United States is expected to lead the sales of succinic acid in North America. The United States succinic acid market stands at a valuation of US$ 48.9 million in 2022 and is expected to account for a major market share of 93.6% in the North America succinic acid market by 2032.
High consumer spending potential has positively influenced the consumption of personal care and cosmetic products in the nation. This factor will majorly drive demand for succinic acid in the personal care industry of the United States through 2032.
Succinic acid supplements and succinic acid tablets are expected to see a steady increase in consumption throughout the forecast period owing to increasing health consciousness in the country.
Increasing demand for organic products and rising awareness about the side effects of chemical-based products will further bolster demand for succinic acid in the U.S.
Will China Be a Lucrative Market for Succinic Acid Manufacturers?
“Low Production Costs to Provide Attractive Opportunities for Succinic Acid Suppliers”
China is well known for its robust manufacturing capability and is expected to provide rewarding opportunities for the succinic acid market as well. Low labor costs and supportive government initiatives are expected to bolster succinic acid market growth in China.
Manufacturing of succinic acid food additives, succinic acid supplements, and succinic acid tablets is expected to see a rise in the nation across the forecast period.
The China succinic acid market currently accounts for a share of 45.2% of the Asia Pacific succinic acid industry.
Category-wise Insights
Should Market Players Focus on Petro-based Succinic Acid Production?
“Petro-based Succinic Acid Accounts for Major Market Share”
Increasing use of petro-based succinic acid in polyurethane production as an alternative to adipic acid is expected to drive the growth of the petro-based succinic acid segment over the coming years. At present, petro-based succinic acid sales account for a value of US$ 98.6 million, which is anticipated to surge to US$ 190.6 million by the end of 2032.
On the other hand, the bio-succinic acid market is expected to rise at a CAGR of 6% across the forecast period. Increasing health consciousness and environmental concerns by governments across the world are prominent factors driving demand for bio-based succinic acid.
The bio-based succinic acid market is expected to account for a market share of 36.8% and a revenue of US$ 110.8 million by the end of 2032.
What is the Outlook for Sales of Succinic Acid in the Industrial Sector?
“Industrial End-use Segment to Dominate Global Succinic Acid Market”
Increasing use of succinic acid in multiple industries as a solvent and raw material for manufacturing is expected to drive sales of succinic acid in the industrial sector.
Sales of succinic acid in the industrial sector account for a net revenue total of US$ 53.7 million in 2022. Rising demand for spandex will also increase succinic acid market volume as succinic acid is a crucial raw material for the manufacturing of tetrahydrofuran which is majorly used in spandex manufacturing.
Demand for succinic acid in pharmaceuticals and demand for succinic acid in the food industry is expected to see good growth over the forecast period owing to the rising scope of application. Bio-based succinic acid is expected to be preferred in pharmaceutical and food industries owing to rising awareness about the side effects of the use of petro-based succinic acid.
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
Competitive Landscape :
Key succinic acid manufacturers are focusing on mergers, acquisitions, collaborations, and partnerships to expand their business scope across the world.
Succinic acid suppliers are also investing in the expansion of their production plants to increase capacity to meet high demand from several industry verticals.
- In August 2021, LCY Biosciences, a leading name in succinic acid production, announced that it is producing 18 KT of bio-based succinic acid at a plant in Sarnia, Ontario, Canada. The plant was previously owned by BioAmber and produced 8 KT at the time.
Key Segments Covered in Succinic Acid Industry Research
-
By Type :
- Petro-based Succinic Acid
- Bio-based Succinic Acid
-
By End Use :
- Industrial Sector
- Coatings
- Food & Beverages
- Cosmetics
- Other End Uses
-
By Region :
- North America
- Latin America
- Europe
- APAC
- MEA
Table of Content
- 1. Executive Summary
- 2. Market Overview
- 3. Key Market Trends
- 4. Key Success Factors
- 5. Market Background
- 6. Global Market Volume (Units) Analysis 2017 to 2021 and Forecast, 2022 to 2032
- 7. Global Market - Pricing Analysis
- 8. Global Market Value Analysis 2017 to 2021 and Forecast, 2022 to 2032
- 9. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, by Type
- 9.1. Petro-based
- 9.2. Bio-based
- 10. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, by End Use
- 10.1. Industrial
- 10.2. Coatings
- 10.3. Food & Beverages
- 10.4. Cosmetics
- 10.5. Other End Uses
- 11. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, by Region
- 11.1. North America
- 11.2. Latin America
- 11.3. Europe
- 11.4. East Asia
- 11.5. South Asia
- 11.6. Oceania
- 11.7. Middle East and Africa (MEA)
- 12. North America Market Analysis 2017 to 2021 and Forecast 2022 to 2032
- 13. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032
- 14. Europe Market Analysis 2017 to 2021 and Forecast 2022 to 2032
- 15. South Asia Market Analysis 2017 to 2021 and Forecast 2022 to 2032
- 16. East Asia Market Analysis 2017 to 2021 and Forecast 2022 to 2032
- 17. Oceania Market Analysis 2017 to 2021 and Forecast 2022 to 2032
- 18. Middle East and Africa Market Analysis 2017 to 2021 and Forecast 2022 to 2032
- 19. Key and Emerging Countries Market Analysis 2017 to 2021 and Forecast 2022 to 2032
- 20. Market Structure Analysis
- 21. Competition Analysis
- 21.1. Thyssenkrupp AG
- 21.2. BASF SE
- 21.3. Roquette Frères
- 21.4. Kawasaki Kasei Chemicals
- 21.5. NIPPON SHOKUBAI CO. LTD
- 21.6. Ernesto Ventós S.A.
- 21.7. Spectrum Chemical Manufacturing Corp
- 21.8. FUSO CHEMICAL CO. LTD.
- 21.9. R-Biopharm AG
- 21.10. ESIM Chemicals
- 21.11. Anhui Sunsing Chemicals Co. Ltd.
- 21.12. Novomer Inc.
- 22. Assumptions and Acronyms Used
- 23. Research Methodology
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List Of Table
Table 01: Global Market Volume (‘000 Units) Analysis and Opportunity Assessment 2017 to 2032, By Type
Table 02: Global Market Value (US$ Mn) Analysis and Opportunity Assessment 2017 to 2032, By Type
Table 03: Global Market Value (US$ Mn) Analysis and Opportunity Assessment 2017 to 2032, By End Use
Table 04: Global Market Value (US$ Mn) Analysis and Opportunity Assessment 2017 to 2032, By Region
Table 05: North America Market Value (US$ Mn) Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
Table 06: North America Market Value (US$ Mn) Analysis and Opportunity Assessment 2017 to 2032, By Type
Table 07: North America Market Value (US$ Mn) Analysis and Opportunity Assessment 2017 to 2032, By End Use
Table 08: Latin America Market Value (US$ Mn) Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
Table 09: Latin America Market Value (US$ Mn) Analysis and Opportunity Assessment 2017 to 2032, By Type
Table 10: Latin America Market Value (US$ Mn) Analysis and Opportunity Assessment 2017 to 2032, By End Use
Table 11: Europe Market Value (US$ Mn) Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
Table 12: Europe Market Value (US$ Mn) Analysis and Opportunity Assessment 2017 to 2032, By Type
Table 13: Europe Market Value (US$ Mn) Analysis and Opportunity Assessment 2017 to 2032, By End Use
Table 14: South Asia Market Value (US$ Mn) Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
Table 15: South Asia Market Value (US$ Mn) Analysis and Opportunity Assessment 2017 to 2032, By Type
Table 16: South Asia Market Value (US$ Mn) Analysis and Opportunity Assessment 2017 to 2032, By End Use
Table 17: East Asia Market Value (US$ Mn) Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
Table 18: East Asia Market Value (US$ Mn) Analysis and Opportunity Assessment 2017 to 2032, By Type
Table 19: East Asia Market Value (US$ Mn) Analysis and Opportunity Assessment 2017 to 2032, By End Use
Table 20: Oceania Market Value (US$ Mn) Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
Table 21: Oceania Market Value (US$ Mn) Analysis and Opportunity Assessment 2017 to 2032, By Type
Table 22: Oceania Market Value (US$ Mn) Analysis and Opportunity Assessment 2017 to 2032, By End Use
Table 23: Middle East and Africa Market Value (US$ Mn) Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
Table 24: Middle East and Africa Market Value (US$ Mn) Analysis and Opportunity Assessment 2017 to 2032, By Type
Table 25: Middle East and Africa Market Value (US$ Mn) Analysis and Opportunity Assessment 2017 to 2032, By End Use
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List Of Figures
Figure 01: Global Market Volume (in 000' Units) Analysis, 2017 to 2021
Figure 02: Global Market Volume Forecast (in 000' Units), 2022 to 2032
Figure 03: Pricing Analysis (US$) Per Type, By Region, 2021
Figure 04: Pricing Analysis (US$) Per Type, By Region, 2021
Figure 05: Global Market Value Analysis (US$ Mn), 2017 to 2021
Figure 06: Global Market Value Forecast (US$ Mn), 2022 to 2032
Figure 07: Global Market Absolute $ Opportunity, 2022 to 2032
Figure 08: Global Market Share Analysis (%), By Type, 2022 to 2032
Figure 09: Global Market Y-o-Y Analysis (%), By Type, 2022 to 2032
Figure 10: Global Market Attractiveness Analysis by Type, 2022 to 2032
Figure 11: Global Market Share Analysis (%), By End Use, 2022 to 2032
Figure 12: Global Market Y-o-Y Analysis (%), By End Use, 2022 to 2032
Figure 13: Global Market Attractiveness Analysis by End Use, 2022 to 2032
Figure 14: Global Market Share Analysis (%), By Region, 2022 to 2032
Figure 15: Global Market Y-o-Y Analysis (%), By Region, 2022 to 2032
Figure 16: Global Market Attractiveness Analysis by Region, 2022 to 2032
Figure 17: North America Market Value Share, By Type, 2022 (E)
Figure 18: North America Market Value Share, By End Use, 2022 (E)
Figure 19: North America Market Value Share, By Country, 2022 (E)
Figure 20: North America Market Value Analysis (US$ Mn), 2017 to 2021
Figure 21: North America Market Value Forecast (US$ Mn), 2022 to 2032
Figure 22: North America Market Attractiveness Analysis by Type, 2022 to 2032
Figure 23: North America Market Attractiveness Analysis by End Use, 2022 to 2032
Figure 24: North America Market Attractiveness Analysis by Country, 2022 to 2032
Figure 25: Latin America Market Value Share, By Type, 2022 (E)
Figure 26: Latin America Market Value Share, By End Use, 2022 (E)
Figure 27: Latin America Market Value Share, By Country, 2022 (E)
Figure 28: Latin America Market Value Analysis (US$ Mn), 2017 to 2021
Figure 29: Latin America Market Value Forecast (US$ Mn), 2022 to 2032
Figure 30: Latin America Market Attractiveness Analysis by Type, 2022 to 2032
Figure 31: Latin America Market Attractiveness Analysis by End Use, 2022 to 2032
Figure 32: Latin America Market Attractiveness Analysis by Country, 2022 to 2032
Figure 33: Europe Market Value Share, By Type, 2022 (E)
Figure 34: Europe Market Value Share, By End Use, 2022 (E)
Figure 35: Europe Market Value Share, By Country, 2022 (E)
Figure 36: Europe Market Value Analysis (US$ Mn), 2017 to 2021
Figure 37: Europe Market Value Forecast (US$ Mn), 2022 to 2032
Figure 38: Europe Market Attractiveness Analysis by Type, 2022 to 2032
Figure 39: Europe Market Attractiveness Analysis by End Use, 2022 to 2032
Figure 40: Europe Market Attractiveness Analysis by Country, 2022 to 2032
Figure 41: South Asia Market Value Share, By Type, 2022 (E)
Figure 42: South Asia Market Value Share, By End Use, 2022 (E)
Figure 43: South Asia Market Value Share, By Country, 2022 (E)
Figure 44: South Asia Market Value Analysis (US$ Mn), 2017 to 2021
Figure 45: South Asia Market Value Forecast (US$ Mn), 2022 to 2032
Figure 46: South Asia Market Attractiveness Analysis by Type, 2022 to 2032
Figure 47: South Asia Market Attractiveness Analysis by End Use, 2022 to 2032
Figure 48: South Asia Market Attractiveness Analysis by Country, 2022 to 2032
Figure 49: East Asia Market Value Share, By Type, 2022 (E)
Figure 50: East Asia Market Value Share, By End Use, 2022 (E)
Figure 51: East Asia Market Value Share, By Country, 2022 (E)
Figure 52: East Asia Market Value Analysis (US$ Mn), 2017 to 2021
Figure 53: East Asia Market Value Forecast (US$ Mn), 2022 to 2032
Figure 54: East Asia Market Attractiveness Analysis by Type, 2022 to 2032
Figure 55: East Asia Market Attractiveness Analysis by End Use, 2022 to 2032
Figure 56: East Asia Market Attractiveness Analysis by Country, 2022 to 2032
Figure 57: Oceania Market Value Share, By Type, 2022 (E)
Figure 58: Oceania Market Value Share, By End Use, 2022 (E)
Figure 59: Oceania Market Value Share, By Country, 2022 (E)
Figure 60: Oceania Market Value Analysis (US$ Mn), 2017 to 2021
Figure 61: Oceania Market Value Forecast (US$ Mn), 2022 to 2032
Figure 62: Oceania Market Attractiveness Analysis by Type, 2022 to 2032
Figure 63: Oceania Market Attractiveness Analysis by End Use, 2022 to 2032
Figure 64: Oceania Market Attractiveness Analysis by Country, 2022 to 2032
Figure 65: Middle East and Africa Market Value Share, By Type, 2022 (E)
Figure 66: Middle East and Africa Market Value Share, By End Use, 2022 (E)
Figure 67: Middle East and Africa Market Value Share, By Country, 2022 (E)
Figure 68: Middle East and Africa Market Value Analysis (US$ Mn), 2017 to 2021
Figure 69: Middle East and Africa Market Value Forecast (US$ Mn), 2022 to 2032
Figure 70: Middle East and Africa Market Attractiveness Analysis by Type, 2022 to 2032
Figure 71: Middle East and Africa Market Attractiveness Analysis by End Use, 2022 to 2032
Figure 72: Middle East and Africa Market Attractiveness Analysis by Country, 2022 to 2032
Figure 73: U. S. Market Value Analysis (US$ Mn), 2022 & 2032
Figure 74: U. S. Market Value Share, By Type, 2022 (E)
Figure 75: U. S. Market Value Share, By End Use, 2022 (E)
Figure 76: Canada Market Value Analysis (US$ Mn), 2022 & 2032
Figure 77: Canada Market Value Share, By Type, 2022 (E)
Figure 78: Canada Market Value Share, By End Use, 2022 (E)
Figure 79: Mexico Market Value Analysis (US$ Mn), 2022 & 2032
Figure 80: Mexico Market Value Share, By Type, 2022 (E)
Figure 81: Mexico Market Value Share, By End Use, 2022 (E)
Figure 82: Brazil Market Value Analysis (US$ Mn), 2022 & 2032
Figure 83: Brazil Market Value Share, By Type, 2022 (E)
Figure 84: Brazil Market Value Share, By End Use, 2022 (E)
Figure 85: U. K. Market Value Analysis (US$ Mn), 2022 & 2032
Figure 86: U. K. Market Value Share, By Type, 2022 (E)
Figure 87: U. K. Market Value Share, By End Use, 2022 (E)
Figure 88: Germany Market Value Analysis (US$ Mn), 2022 & 2032
Figure 89: Germany Market Value Share, By Type, 2022 (E)
Figure 90: Germany Market Value Share, By End Use, 2022 (E)
Figure 91: France Market Value Analysis (US$ Mn), 2022 & 2032
Figure 92: France Market Value Share, By Type, 2022 (E)
Figure 93: France Market Value Share, By End Use, 2022 (E)
Figure 94: Italy Market Value Analysis (US$ Mn), 2022 & 2032
Figure 95: Italy Market Value Share, By Type, 2022 (E)
Figure 96: Italy Market Value Share, By End Use, 2022 (E)
Figure 97: Spain Market Value Analysis (US$ Mn), 2022 & 2032
Figure 98: Spain Market Value Share, By Type, 2022 (E)
Figure 99: Spain Market Value Share, By End Use, 2022 (E)
Figure 100: Russia Market Value Analysis (US$ Mn), 2022 & 2032
Figure 101: Russia Market Value Share, By Type, 2022 (E)
Figure 102: Russia Market Value Share, By End Use, 2022 (E)
Figure 103: China Market Value Analysis (US$ Mn), 2022 & 2032
Figure 104: China Market Value Share, By Type, 2022 (E)
Figure 105: China Market Value Share, By End Use, 2022 (E)
Figure 106: Japan Market Value Analysis (US$ Mn), 2022 & 2032
Figure 107: Japan Market Value Share, By Type, 2022 (E)
Figure 108: Japan Market Value Share, By End Use, 2022 (E)
Figure 109: South Korea Market Value Analysis (US$ Mn), 2022 & 2032
Figure 110: South Korea Market Value Share, By Type, 2022 (E)
Figure 111: South Korea Market Value Share, By End Use, 2022 (E)
Figure 112: India Market Value Analysis (US$ Mn), 2022 & 2032
Figure 113: India Market Value Share, By Type, 2022 (E)
Figure 114: India Market Value Share, By End Use, 2022 (E)
Figure 115: ASEAN Market Value Analysis (US$ Mn), 2022 & 2032
Figure 116: ASEAN Market Value Share, By Type, 2022 (E)
Figure 117: ASEAN Market Value Share, By End Use, 2022 (E)
Figure 118: Australia Market Value Analysis (US$ Mn), 2022 & 2032
Figure 119: Australia Market Value Share, By Type, 2022 (E)
Figure 120: Australia Market Value Share, By End Use, 2022 (E)
Figure 121: New Zealand Market Value Analysis (US$ Mn), 2022 & 2032
Figure 122: New Zealand Market Value Share, By Type, 2022 (E)
Figure 123: New Zealand Market Value Share, By End Use, 2022 (E)
Figure 124: GCC Countries Market Value Analysis (US$ Mn), 2022 & 2032
Figure 125: GCC Countries Market Value Share, By Type, 2022 (E)
Figure 126: GCC Countries Market Value Share, By End Use, 2022 (E)
Figure 127: Turkey Market Value Analysis (US$ Mn), 2022 & 2032
Figure 128: Turkey Market Value Share, By Type, 2022 (E)
Figure 129: Turkey Market Value Share, By End Use, 2022 (E)
Figure 130: South Africa Market Value Analysis (US$ Mn), 2022 & 2032
Figure 131: South Africa Market Value Share, By Type, 2022 (E)
Figure 132: South Africa Market Value Share, By End Use, 2022 (E)
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
- FAQs -
What valuation does the global succinic acid market enjoy?
The global succinic acid market accounts for US$ 160.8 million valuation in 2022.
What will the succinic acid market be worth by the end of the forecast period?
By the end of 2032, the global market for succinic acid is projected to reach US$ 301.4 million.
What is the predicted succinic acid market growth?
Demand for succinic acid is expected to increase at a CAGR of 6.5% from 2022 to 2032.
Which industry is the largest end user of succinic acid?
The industrial sector is projected to account for the largest succinic acid market share of 37.4% by the end of 2032.
What are the key driving forces behind the demand growth of succinic acid?
Increasing use of succinic acid in several industries such as food, pharmaceutical, cosmetics, and personal care are expected to majorly drive market potential through 2032.
Which key succinic acid manufacturers are profiled in this succinic acid market report?
Key succinic acid suppliers are Thyssenkrupp AG, BASF SE, Roquette Frères, Kawasaki Kasei Chemicals, NIPPON SHOKUBAI CO. LTD, Ernesto Ventós S.A., Spectrum Chemical Manufacturing Corp, FUSO CHEMICAL CO. LTD., and R-Biopharm AG.
Succinic Acid Market