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The Succinic Acid Market size was valued at USD 216.3 Million in 2023. It is expected to grow to USD 466.7 Million by 2032 and grow at a CAGR of 5.4% over the forecast period of 2024-2032.
The increasing adoption of biodegradable plastics has made succinic acid a key ingredient in polybutylene succinate, a bio-degradable and sustainable alternative to traditional petroleum-based plastics. PBS is strong and shelters biodegradability characteristics, which makes it suitable for the production of items for packaging, agriculture, and single-use products. Global environmental concerns regarding plastic pollution and its adverse effects on ecological systems are in search of biodegradable solutions, which drives the need for PBS. The transition is most pronounced in areas with strict plastic waste and declining virgin plastic input policies that promote or require green materials.
Hence, with reorienting production in line with these environmentally friendly trends, manufacturers are exhibiting high demand for using succinic acid for PBS as a raw material. In applications like food packaging and agricultural films, where biodegradability can reduce plastic pollution in the environment, PBS also provides an advantage. This shift towards sustainable materials is not only creating a new need for succinic acid to enable biodegradable plastics but also further driving innovations for greener solutions in multiple industries.
The EU’s Directive on Single-Use Plastics (SUP) aims to reduce plastic waste by requiring member states to cut single-use plastic consumption by 50% by 2025 and 80% by 2030. This has accelerated the shift toward biodegradable plastics like polybutylene succinate (PBS), which uses succinic acid as a base component.
Growing utilization of succinic acid as an important intermediate in coatings & resins in industrial applications is benefitting the market growth. Succinic acid is used in the production of alkyd resins, coatings, and plasticizers, thereby enabling improved performance, durability, and adhesion, thereby catering to the construction and automotive sectors. With these sectors consistently growing, especially in developing nations across the Asia-Pacific and Latin America, the demand for top-notch coatings and resins is increasing. In construction, coatings play a critical role in protecting various surfaces from the elements, corrosion, and abrasion, ultimately extending the life of infrastructure and lowering maintenance costs. In the same manner, the automotive sector also became dependent on high-performance coatings for exterior finishes, protective films, and component applications in which durability and aesthetics are key points. Succinic acid has gained traction as a building block to create a variety of resins, which can be customized for these applications, making it a target for manufacturers to achieve sustainability, strength, and performance demanded by the industry.
According to the U.S. Census Bureau, construction spending in the United States reached over USD 1.7 trillion in 2022, highlighting a steady increase in demand for materials that enhance durability and longevity, including advanced coatings and resins.
Drivers
Increasing applications in pharmaceuticals and food & beverage drives the market growth.
The growing industrial applications of succinic acid in pharmaceutical and food & beverage industries are driving the growth of the succinic acid market. As a multifunctional additive in the food & beverage industry, it is used as to flavor, pH regulator, and preservative, which is bringing its extensive application in processed food, beverage, and confectionery. This is like escalation since the masses of buyers favor systematic toppings over synthetic options, or more to the point that another finding yields money found it has to be bio-based succinic acid can floss. The pharmaceutical industry is also attracting attention for some succinic acid as an important element that appears in drug formulations, especially as a drug excipient that enhances drug stability and activity. This is the main factor that makes it a versatile starting material for many drug compounds but also makes it a safe compound for metabolic processes hence it will be used in antibiotics, and anti-inflammatory drugs, and it can be used in vitamin production. The simultaneous market utilization of succinic acid in these industries will continue to promote its market expansion, as the respective industries continue to grow due to increased consumer health-based trends and desires for natural and effective ingredients in the healthcare and personal care industries.
According to the U.S. Food and Drug Administration (FDA), the global pharmaceutical industry’s value exceeded USD 1.2 trillion in 2022, with an estimated annual growth rate of 4-5%. This growth is largely driven by an increasing demand for more stable, bio-compatible excipients in drug formulations. Government initiatives, such as the European Medicines Agency's (EMA) push for sustainable and safe excipients, have also encouraged the adoption of bio-based compounds like succinic acid in drug formulations.
Restraint
Limited production capacity may hamper the market growth.
Limited production capacity is a significant restraint in the succinic acid market, particularly for bio-based succinic acid. While the demand for bio-succinic acid is rising due to its eco-friendly appeal and versatility, the production infrastructure is still in its early stages of development. Existing bio-based production facilities are not yet able to meet the growing demand at scale, which leads to supply shortages and higher production costs. This limited capacity hampers market growth, as manufacturers in sectors like packaging, automotive, and chemicals may not have reliable access to a consistent supply of bio-succinic acid. Furthermore, expanding production capacity requires substantial investments in advanced fermentation technology and raw materials, which can deter new companies from entering the market. Until production can be scaled up effectively, this constraint will continue to limit the widespread adoption and growth of bio-based succinic acid in various industries.
By Type
The Petro-based type held the largest market share around 64% in 2023. Its use is due to replacing adipic acid with Petro-based succinic acid for CO2–based PU manufacture. The petrochemical counterpart is derived from the oxidation of the methyl groups of butane to their corresponding carboxy group. It is used in the manufacture of plasticizers and flavor enhancers in numerous processed food products. Segment growth is anticipated to be driven by growing demand from industrial, personal care, and food & beverage sectors.
The bio-based segment is the fastest-growing segment in 2023. The expanding health awareness among consumers along with the growing awareness of the governmental bodies regarding environmental issues is creating a huge obstacle hindering the Petro-based products market growth. Another factor that is expected to boost the demand for a bio-based product is the increasing preference for succinic acid as compared to butane-based maleic anhydride for producing commonly produced chemicals such as fumaric acid, succinic anhydride, plastics, diethylmaleate, polymers, and glyoxylic acid, that are those being manufactured by the petroleum-based butane.
By End-Use
In 2023, the industrial-use segment accounted for the largest market share, at approximately 42%. Biopolymers in itself are in high demand and used as an additive to enhance the performance and sustainability of products, particularly for the production of biodegradable plastics and coatings. In addition to that, succinic acid is included as raw material in something that the automotive, construction, and agricultural industries also depend on to a large extent. Such industrial sectors sought L-lactic acid because of its application to high-performance material synthesis and because it is or can be a bio-based alternative with a lower ecological footprint. Despite the move for all types of industries to find more sustainable replacements for petchems, the industrial-use segment is anticipated to continue to dominate due to its long history of widely diverse applications and the growing demand for sustainable options.
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Europe region held the highest market share around 42% in 2023. The succinic acid market finds its largest share in the European market owing to various factors such as supportive regulation for sustainable and bio-based chemicals coupled with numerous bio-refinery projects. Policies like the European Green Deal and Circular Economy Action Plan adopted by the European Union it is pushing for an increased use of renewable resources and reducing fossil fuels dependency. As a result, bio-based alternatives have become very important, such as succinic acid, a building block for biodegradable plastic, coating, and other eco-friendly products. In addition, Europe has some of the key biobased succinic acid manufacturers, including fermenting companies (bio-succinic acid manufacturers who prepare the compound, produced from renewable resources). In addition, the existing chemical manufacturing infrastructure of the region with focused innovation and sustainable practices can further drive succinic acid demand in the region. In addition, European consumers and also sectors are concentrating on sustainability and this will lead to a boost in the share of bio-based chemicals, thus providing Europe to be a prominent region in the succinic acid market.
According to a 2022 report from the European Environment Agency (EEA), approximately 62% of new product innovations in the EU focus on sustainability, with a strong preference for bio-based alternatives in manufacturing processes. This trend aligns with the increasing adoption of succinic acid in industries seeking eco-friendly solutions.
BASF SE
DuPont
GlaxoSmithKline
Jiangsu Sopo Chemical Co., Ltd.
Reverdia
Myriant Corporation
Lanxess AG
GFBiochemicals
Corbion
DSM
BASF-YPC Co.
Cargill
SK Chemicals Co., Ltd.
Tate & Lyle
BioAmber
Laxness
Novozymes
China National Petroleum Corporation (CNPC)
Kraton Polymers
Emery Oleochemicals
| Company Name | Production Method | Key Applications | Region | Recent Developments |
|---|---|---|---|---|
| BASF SE | Chemical Synthesis, Bio-Based (Fermentation) | Bioplastics, Polyurethanes, Coatings, Packaging | Europe, Global | Expanded bio-based succinic acid production in Spain (2023) |
| DuPont | Chemical Synthesis, Bio-Based | Automotive, Packaging, Pharmaceuticals | Global | Focus on sustainability and bio-based alternatives |
| GlaxoSmithKline | Chemical Synthesis | Pharmaceuticals, Personal Care | Global | Investment in sustainable supply chain solutions |
| Reverdia | Bio-Based (Fermentation) | Bioplastics, Coatings, Food & Beverages | Europe, Global | Expanded production facility in Brazil (2022) |
| Myriant Corporation | Bio-Based (Fermentation) | Polymers, Plastics, Pharmaceuticals | North America | Partnership with global players to expand market presence |
| Lanxess AG | Chemical Synthesis, Bio-Based (Fermentation) | Coatings, Plasticizers, Polymers | Europe, Global | Focus on sustainability in chemical production |
| GFBiochemicals | Bio-Based (Fermentation) | Solvents, Food & Beverages, Packaging | Europe | Expansion of production capacity for bio-based chemicals |
| Corbion | Bio-Based (Fermentation) | Polymers, Pharmaceuticals, Personal Care | Europe, Global | Increase in production capacity for bio-based succinic acid |
| DSM | Bio-Based (Fermentation) | Bioplastics, Automotive, Coatings, Textiles | Europe, Global | Expansion of bio-based production capacity in the Netherlands (2023) |
| Cargill | Bio-Based (Fermentation) | Chemicals, Food & Beverages, Pharmaceuticals | North America, Global | Partnering to strengthen bio-based solutions across sectors |
| SK Chemicals Co., Ltd. | Bio-Based (Fermentation) | Bioplastics, Pharmaceuticals | Asia, Global | Focus on innovation in bio-based succinic acid production |
| Tate & Lyle | Bio-Based (Fermentation) | Food & Beverages, Industrial Chemicals | North America, Europe | Expanding capacity for renewable chemical production |
| BioAmber | Bio-Based (Fermentation) | Polymers, Coatings, Pharmaceuticals | North America, Europe | Joint venture with DuPont Tate & Lyle (2022) for increased production |
| China National Petroleum Corporation (CNPC) | Chemical Synthesis | Chemicals, Fuels | Asia, Global | Focus on expanding chemical production using petrochemical methods |
| Kraton Polymers | Chemical Synthesis, Bio-Based | Polymers, Coatings, Packaging | North America, Europe | Developments in sustainable chemical production |
| Emery Oleochemicals | Bio-Based (Fermentation) | Polymers, Plastics, Personal Care | North America, Europe | Investment in bio-based polymer development |
In 2023, Reverdia announced the expansion of its production capacity for bio-based succinic acid at its plant in Cassano, Italy. The expansion is in response to the growing demand for sustainable materials across industries such as automotive, packaging, and textiles.
In 2023, Genomatica, a leader in bio-based chemical production, successfully commercialized its Bio-BDO (butanediol) production process, which relies on bio-based succinic acid as a precursor. This breakthrough strengthens the role of succinic acid in sustainable chemicals and fuels demand for bio-based alternatives in the plastics and automotive industries.
In 2023, BASF announced the expansion of its bio-based succinic acid production capacity at its site in Spain. This expansion is part of BASF’s commitment to increasing the production of sustainable, bio-based chemicals.
| Report Attributes | Details |
|---|---|
| Market Size in 2023 | US$ 216.3 Million |
| Market Size by 2032 | US$ 466.7 Million |
| CAGR | CAGR of 5.4% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Type (Petro-based, Bio-based) • By End-Use (Food & Beverages, Pharmaceutical, Coatings, Industrial, Personal Care & Cosmetics, Others) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
| Company Profiles | BASF SE, DuPont, GlaxoSmithKline, Jiangsu Sopo Chemical Co., Ltd., Reverdia, Myriant Corporation, Lanxess AG, GFBiochemicals, Corbion, DSM, BASF-YPC Co., Cargill, SK Chemicals Co., Ltd., Tate & Lyle, BioAmber, Laxness, Novozymes, China National Petroleum Corporation (CNPC), Kraton Polymers, Emery Oleochemicals, and Others |
| Key Drivers | •Increasing applications in pharmaceuticals and food & beverage drives the market growth. |
| Restraints | •Limited production capacity may hamper the market growth. |
Ans: The Succinic Acid Market was valued at USD 216.3 Million in 2023.
Ans: The expected CAGR of the global Succinic Acid Market during the forecast period is 8.9%.
Ans: The industrial-use segment product will grow rapidly in the Succinic Acid Market from 2024-2032.
Ans: Increasing applications in pharmaceuticals and food & beverage drives the market growth.
Ans: The U.S. led the Succinic Acid Market in the North America region with the highest revenue share in 2023.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope (Inclusion and Exclusions)
1.3 Research Assumptions
2. Executive Summary
2.1 Market Overview
2.2 Regional Synopsis
2.3 Competitive Summary
3. Research Methodology
3.1 Top-Down Approach
3.2 Bottom-up Approach
3.3. Data Validation
3.4 Primary Interviews
4. Market Dynamics Impact Analysis
3.1 Market Driving Factors Analysis
3.1.2 Drivers
3.1.2 Restraints
3.1.3 Opportunities
3.1.4 Challenges
3.2 PESTLE Analysis
3.3 Porter’s Five Forces Model
5. Statistical Insights and Trends Reporting
5.1 Production Capacity and Utilization, by Country, by Type, 2023
5.2 Feedstock Prices, by Country, by Type, 2023
5.3 Regulatory Impact, by l Country, by Type, 2023.
5.4 Environmental Metrics: Emissions Data, Waste Management Practices, and Sustainability Initiatives, by Region
5.5 Innovation and R&D, Type, 2023
6. Competitive Landscape
6.1 List of Major Companies, By Region
6.2 Market Share Analysis, By Region
6.3 Product Benchmarking
6.3.1 Product specifications and features
6.3.2 Pricing
6.4 Strategic Initiatives
6.4.1 Marketing and promotional activities
6.4.2 Distribution and supply chain strategies
6.4.3 Expansion plans and new Product launches
6.4.4 Strategic partnerships and collaborations
6.5 Technological Advancements
6.6 Market Positioning and Branding
7. Succinic Acid Market Segmentation, Type
7.1 Chapter Overview
7.2 Petro-based
7.2.1 Petro-based Market Trends Analysis (2020-2032)
7.2.2 Petro-based Market Size Estimates and Forecasts to 2032 (USD Million)
7.3 Bio-based
7.3.1 Bio-based Market Trends Analysis (2020-2032)
7.3.2 Bio-based Market Size Estimates and Forecasts to 2032 (USD Million)
8. Succinic Acid Market Segmentation, by End-Use
8.1 Chapter Overview
8.2 Food & Beverages
8.2.1 Food & Beverages Market Trends Analysis (2020-2032)
8.2.2 Food & Beverages Market Size Estimates and Forecasts to 2032 (USD Million)
8.3 Pharmaceutical
8.3.1 Pharmaceutical Market Trends Analysis (2020-2032)
8.3.2 Pharmaceutical Market Size Estimates and Forecasts to 2032 (USD Million)
8.4 Coatings
8.4.1 Coatings Market Trends Analysis (2020-2032)
8.4.2 Coatings Market Size Estimates and Forecasts to 2032 (USD Million)
8.5 Industrial
8.5.1 Industrial Market Trends Analysis (2020-2032)
8.5.2 Industrial Market Size Estimates and Forecasts to 2032 (USD Million)
8.6 Personal Care & Cosmetics
8.6.1 Personal Care & Cosmetics Market Trends Analysis (2020-2032)
8.6.2 Personal Care & Cosmetics Market Size Estimates and Forecasts to 2032 (USD Million)
8.7 Others
8.7.1 Others Market Trends Analysis (2020-2032)
8.7.2 Others Market Size Estimates and Forecasts to 2032 (USD Million)
9. Regional Analysis
9.1 Chapter Overview
9.2 North America
9.2.1 Trends Analysis
9.2.2 North America Succinic Acid Market Estimates and Forecasts, by Country (2020-2032) (USD Million)
9.2.3 North America Succinic Acid Market Estimates and Forecasts, Type (2020-2032) (USD Million)
9.2.4 North America Succinic Acid Market Estimates and Forecasts, by End-Use (2020-2032) (USD Million)
9.2.5 USA
9.2.5.1 USA Succinic Acid Market Estimates and Forecasts, Type (2020-2032) (USD Million)
9.2.5.2 USA Succinic Acid Market Estimates and Forecasts, by End-Use (2020-2032) (USD Million)
9.2.6 Canada
9.2.6.1 Canada Succinic Acid Market Estimates and Forecasts, Type (2020-2032) (USD Million)
9.2.6.2 Canada Succinic Acid Market Estimates and Forecasts, by End-Use (2020-2032) (USD Million)
9.2.7 Mexico
9.2.7.1 Mexico Succinic Acid Market Estimates and Forecasts, Type (2020-2032) (USD Million)
9.2.7.2 Mexico Succinic Acid Market Estimates and Forecasts, by End-Use (2020-2032) (USD Million)
9.3 Europe
9.3.1 Eastern Europe
9.3.1.1 Trends Analysis
9.3.1.2 Eastern Europe Succinic Acid Market Estimates and Forecasts, by Country (2020-2032) (USD Million)
9.3.1.3 Eastern Europe Succinic Acid Market Estimates and Forecasts, Type (2020-2032) (USD Million)
9.3.1.4 Eastern Europe Succinic Acid Market Estimates and Forecasts, by End-Use (2020-2032) (USD Million)
9.3.1.5 Poland
9.3.1.5.1 Poland Succinic Acid Market Estimates and Forecasts, Type (2020-2032) (USD Million)
9.3.1.5.2 Poland Succinic Acid Market Estimates and Forecasts, by End-Use (2020-2032) (USD Million)
9.3.1.6 Romania
9.3.1.6.1 Romania Succinic Acid Market Estimates and Forecasts, Type (2020-2032) (USD Million)
9.3.1.6.2 Romania Succinic Acid Market Estimates and Forecasts, by End-Use (2020-2032) (USD Million)
9.3.1.7 Hungary
9.3.1.7.1 Hungary Succinic Acid Market Estimates and Forecasts, Type (2020-2032) (USD Million)
9.3.1.7.2 Hungary Succinic Acid Market Estimates and Forecasts, by End-Use (2020-2032) (USD Million)
9.3.1.8 Turkey
9.3.1.8.1 Turkey Succinic Acid Market Estimates and Forecasts, Type (2020-2032) (USD Million)
9.3.1.8.2 Turkey Succinic Acid Market Estimates and Forecasts, by End-Use (2020-2032) (USD Million)
9.3.1.9 Rest of Eastern Europe
9.3.1.9.1 Rest of Eastern Europe Succinic Acid Market Estimates and Forecasts, Type (2020-2032) (USD Million)
9.3.1.9.2 Rest of Eastern Europe Succinic Acid Market Estimates and Forecasts, by End-Use (2020-2032) (USD Million)
9.3.2 Western Europe
9.3.2.1 Trends Analysis
9.3.2.2 Western Europe Succinic Acid Market Estimates and Forecasts, by Country (2020-2032) (USD Million)
9.3.2.3 Western Europe Succinic Acid Market Estimates and Forecasts, Type (2020-2032) (USD Million)
9.3.2.4 Western Europe Succinic Acid Market Estimates and Forecasts, by End-Use (2020-2032) (USD Million)
9.3.2.5 Germany
9.3.2.5.1 Germany Succinic Acid Market Estimates and Forecasts, Type (2020-2032) (USD Million)
9.3.2.5.2 Germany Succinic Acid Market Estimates and Forecasts, by End-Use (2020-2032) (USD Million)
9.3.2.6 France
9.3.2.6.1 France Succinic Acid Market Estimates and Forecasts, Type (2020-2032) (USD Million)
9.3.2.6.2 France Succinic Acid Market Estimates and Forecasts, by End-Use (2020-2032) (USD Million)
9.3.2.7 UK
9.3.2.7.1 UK Succinic Acid Market Estimates and Forecasts, Type (2020-2032) (USD Million)
9.3.2.7.2 UK Succinic Acid Market Estimates and Forecasts, by End-Use (2020-2032) (USD Million)
9.3.2.8 Italy
9.3.2.8.1 Italy Succinic Acid Market Estimates and Forecasts, Type (2020-2032) (USD Million)
9.3.2.8.2 Italy Succinic Acid Market Estimates and Forecasts, by End-Use (2020-2032) (USD Million)
9.3.2.9 Spain
9.3.2.9.1 Spain Succinic Acid Market Estimates and Forecasts, Type (2020-2032) (USD Million)
9.3.2.9.2 Spain Succinic Acid Market Estimates and Forecasts, by End-Use (2020-2032) (USD Million)
9.3.2.10 Netherlands
9.3.2.10.1 Netherlands Succinic Acid Market Estimates and Forecasts, Type (2020-2032) (USD Million)
9.3.2.10.2 Netherlands Succinic Acid Market Estimates and Forecasts, by End-Use (2020-2032) (USD Million)
9.3.2.11 Switzerland
9.3.2.11.1 Switzerland Succinic Acid Market Estimates and Forecasts, Type (2020-2032) (USD Million)
9.3.2.11.2 Switzerland Succinic Acid Market Estimates and Forecasts, by End-Use (2020-2032) (USD Million)
9.3.2.12 Austria
9.3.2.12.1 Austria Succinic Acid Market Estimates and Forecasts, Type (2020-2032) (USD Million)
9.3.2.12.2 Austria Succinic Acid Market Estimates and Forecasts, by End-Use (2020-2032) (USD Million)
9.3.2.13 Rest of Western Europe
9.3.2.13.1 Rest of Western Europe Succinic Acid Market Estimates and Forecasts, Type (2020-2032) (USD Million)
9.3.2.13.2 Rest of Western Europe Succinic Acid Market Estimates and Forecasts, by End-Use (2020-2032) (USD Million)
9.4 Asia Pacific
9.4.1 Trends Analysis
9.4.2 Asia Pacific Succinic Acid Market Estimates and Forecasts, by Country (2020-2032) (USD Million)
9.4.3 Asia Pacific Succinic Acid Market Estimates and Forecasts, Type (2020-2032) (USD Million)
9.4.4 Asia Pacific Succinic Acid Market Estimates and Forecasts, by End-Use (2020-2032) (USD Million)
9.4.5 China
9.4.5.1 China Succinic Acid Market Estimates and Forecasts, Type (2020-2032) (USD Million)
9.4.5.2 China Succinic Acid Market Estimates and Forecasts, by End-Use (2020-2032) (USD Million)
9.4.6 India
9.4.5.1 India Succinic Acid Market Estimates and Forecasts, Type (2020-2032) (USD Million)
9.4.5.2 India Succinic Acid Market Estimates and Forecasts, by End-Use (2020-2032) (USD Million)
9.4.5 Japan
9.4.5.1 Japan Succinic Acid Market Estimates and Forecasts, Type (2020-2032) (USD Million)
9.4.5.2 Japan Succinic Acid Market Estimates and Forecasts, by End-Use (2020-2032) (USD Million)
9.4.6 South Korea
9.4.6.1 South Korea Succinic Acid Market Estimates and Forecasts, Type (2020-2032) (USD Million)
9.4.6.2 South Korea Succinic Acid Market Estimates and Forecasts, by End-Use (2020-2032) (USD Million)
9.4.7 Vietnam
9.4.7.1 Vietnam Succinic Acid Market Estimates and Forecasts, Type (2020-2032) (USD Million)
9.2.7.2 Vietnam Succinic Acid Market Estimates and Forecasts, by End-Use (2020-2032) (USD Million)
9.4.8 Singapore
9.4.8.1 Singapore Succinic Acid Market Estimates and Forecasts, Type (2020-2032) (USD Million)
9.4.8.2 Singapore Succinic Acid Market Estimates and Forecasts, by End-Use (2020-2032) (USD Million)
9.4.9 Australia
9.4.9.1 Australia Succinic Acid Market Estimates and Forecasts, Type (2020-2032) (USD Million)
9.4.9.2 Australia Succinic Acid Market Estimates and Forecasts, by End-Use (2020-2032) (USD Million)
9.4.10 Rest of Asia Pacific
9.4.10.1 Rest of Asia Pacific Succinic Acid Market Estimates and Forecasts, Type (2020-2032) (USD Million)
9.4.10.2 Rest of Asia Pacific Succinic Acid Market Estimates and Forecasts, by End-Use (2020-2032) (USD Million)
9.5 Middle East and Africa
9.5.1 Middle East
9.5.1.1 Trends Analysis
9.5.1.2 Middle East Succinic Acid Market Estimates and Forecasts, by Country (2020-2032) (USD Million)
9.5.1.3 Middle East Succinic Acid Market Estimates and Forecasts, Type (2020-2032) (USD Million)
9.5.1.4 Middle East Succinic Acid Market Estimates and Forecasts, by End-Use (2020-2032) (USD Million)
9.5.1.5 UAE
9.5.1.5.1 UAE Succinic Acid Market Estimates and Forecasts, Type (2020-2032) (USD Million)
9.5.1.5.2 UAE Succinic Acid Market Estimates and Forecasts, by End-Use (2020-2032) (USD Million)
9.5.1.6 Egypt
9.5.1.6.1 Egypt Succinic Acid Market Estimates and Forecasts, Type (2020-2032) (USD Million)
9.5.1.6.2 Egypt Succinic Acid Market Estimates and Forecasts, by End-Use (2020-2032) (USD Million)
9.5.1.7 Saudi Arabia
9.5.1.7.1 Saudi Arabia Succinic Acid Market Estimates and Forecasts, Type (2020-2032) (USD Million)
9.5.1.7.2 Saudi Arabia Succinic Acid Market Estimates and Forecasts, by End-Use (2020-2032) (USD Million)
9.5.1.8 Qatar
9.5.1.8.1 Qatar Succinic Acid Market Estimates and Forecasts, Type (2020-2032) (USD Million)
9.5.1.8.2 Qatar Succinic Acid Market Estimates and Forecasts, by End-Use (2020-2032) (USD Million)
9.5.1.9 Rest of Middle East
9.5.1.9.1 Rest of Middle East Succinic Acid Market Estimates and Forecasts, Type (2020-2032) (USD Million)
9.5.1.9.2 Rest of Middle East Succinic Acid Market Estimates and Forecasts, by End-Use (2020-2032) (USD Million)
9.5.2 Africa
9.5.2.1 Trends Analysis
9.5.2.2 Africa Succinic Acid Market Estimates and Forecasts, by Country (2020-2032) (USD Million)
9.5.2.3 Africa Succinic Acid Market Estimates and Forecasts, Type (2020-2032) (USD Million)
9.5.2.4 Africa Succinic Acid Market Estimates and Forecasts, by End-Use (2020-2032) (USD Million)
9.5.2.5 South Africa
9.5.2.5.1 South Africa Succinic Acid Market Estimates and Forecasts, Type (2020-2032) (USD Million)
9.5.2.5.2 South Africa Succinic Acid Market Estimates and Forecasts, by End-Use (2020-2032) (USD Million)
9.5.2.6 Nigeria
9.5.2.6.1 Nigeria Succinic Acid Market Estimates and Forecasts, Type (2020-2032) (USD Million)
9.5.2.6.2 Nigeria Succinic Acid Market Estimates and Forecasts, by End-Use (2020-2032) (USD Million)
9.6 Latin America
9.6.1 Trends Analysis
9.6.2 Latin America Succinic Acid Market Estimates and Forecasts, by Country (2020-2032) (USD Million)
9.6.3 Latin America Succinic Acid Market Estimates and Forecasts, Type (2020-2032) (USD Million)
9.6.4 Latin America Succinic Acid Market Estimates and Forecasts, by End-Use (2020-2032) (USD Million)
9.6.5 Brazil
9.6.5.1 Brazil Succinic Acid Market Estimates and Forecasts, Type (2020-2032) (USD Million)
9.6.5.2 Brazil Succinic Acid Market Estimates and Forecasts, by End-Use (2020-2032) (USD Million)
9.6.6 Argentina
9.6.6.1 Argentina Succinic Acid Market Estimates and Forecasts, Type (2020-2032) (USD Million)
9.6.6.2 Argentina Succinic Acid Market Estimates and Forecasts, by End-Use (2020-2032) (USD Million)
9.6.7 Colombia
9.6.7.1 Colombia Succinic Acid Market Estimates and Forecasts, Type (2020-2032) (USD Million)
9.6.7.2 Colombia Succinic Acid Market Estimates and Forecasts, by End-Use (2020-2032) (USD Million)
9.6.8 Rest of Latin America
9.6.8.1 Rest of Latin America Succinic Acid Market Estimates and Forecasts, Type (2020-2032) (USD Million)
9.6.8.2 Rest of Latin America Succinic Acid Market Estimates and Forecasts, by End-Use (2020-2032) (USD Million)
10. Company Profiles
10.1 BASF SE
10.1.1 Company Overview
10.1.2 Financial
10.1.3 Product / Services Offered
10.1.4 SWOT Analysis
10.2 DuPont
10.2.1 Company Overview
10.2.2 Financial
10.2.3 Product / Services Offered
10.2.4 SWOT Analysis
10.3 Jiangsu Sopo Chemical Co., Ltd.
10.3.1 Company Overview
10.3.2 Financial
10.3.3 Product / Services Offered
10.3.4 SWOT Analysis
10.4 Reverdia
10.4.1 Company Overview
10.4.2 Financial
10.4.3 Product / Services Offered
10.4.4 SWOT Analysis
10.5 SK Chemicals Co., Ltd.
10.5.1 Company Overview
10.5.2 Financial
10.5.3 Product / Services Offered
10.5.4 SWOT Analysis
10.6 Cargill
10.6.1 Company Overview
10.6.2 Financial
10.6.3 Product / Services Offered
10.6.4 SWOT Analysis
10.7 Novozymes
10.7.1 Company Overview
10.7.2 Financial
10.7.3 Product / Services Offered
10.7.4 SWOT Analysis
10.8 China National Petroleum Corporation
10.8.1 Company Overview
10.8.2 Financial
10.8.3 Product / Services Offered
10.8.4 SWOT Analysis
10.9 Kraton Polymers
10.9.1 Company Overview
10.9.2 Financial
10.9.3 Product / Services Offered
10.9.4 SWOT Analysis
10.10 Emery Oleochemicals
10.10.1 Company Overview
10.10.2 Financial
10.10.3 Product / Services Offered
10.10.4 SWOT Analysis
11. Use Cases and Best Practices
12. Conclusion
An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.
Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.
The 5 steps process:
Step 1: Secondary Research:
Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.
Step 2: Primary Research
When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data. This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.
We at SNS Insider have divided Primary Research into 2 parts.
Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.
This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.
Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.
Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.
Step 3: Data Bank Validation
Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.
Step 4: QA/QC Process
After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.
Step 5: Final QC/QA Process:
This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.
Key Segmentation
By Type
Petro-based
Bio-based
By End-Use
Food & Beverages
Pharmaceutical
Coatings
Industrial
Personal Care & Cosmetics
Others
Request for Segment Customization as per your Business Requirement: Segment Customization Request
Regional Coverage:
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
Request for Country Level Research Report: Country Level Customization Request
Available Customization
With the given market data, SNS Insider offers customization as per the company’s specific needs. The following customization options are available for the report:
Product Analysis
Criss-Cross segment analysis (e.g. Product X Application)
Product Matrix which gives a detailed comparison of product portfolio of each company
Geographic Analysis
Additional countries in any of the regions
Company Information
Detailed analysis and profiling of additional market players (Up to five)
The Polyethylene Terephthalate (PET) Market size was USD 47.68 billion in 2023 and is expected to Reach USD 99.75 billion by 2031 and grow at a CAGR of 9.65% over the forecast period of 2024-2031.
The Palm Oil Market Size was valued at USD 70.4 billion in 2023 and is expected to reach USD 106.5 billion by 2032 and grow at a CAGR of 4.7% by 2024-2032.
The Membranes Market size was valued at USD 7.3 Billion in 2023. It is expected to grow to USD 14.2 Billion by 2032 and grow at a CAGR of 7.7% over the forecast period of 2024-2032.
The Fire-resistant Coatings Market Size was valued at USD 1025 million in 2023 and is expected to reach USD 1329 million by 2031 and grow at a CAGR of 3.3% over the forecast period 2024-2031.
3D Printing Plastics Market size was valued at USD 1.18 billion in 2023 and is supposed to reach USD 6.68 billion by 2031 and develop at a CAGR of 24.2% over the forecast period 2024-2031.
The Powder Coatings Market Size was valued at USD 15.6 billion in 2023, and is expected to reach USD 24.5 billion by 2032, and grow at a CAGR of 5.1% over the forecast period 2024-2032.
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