September 27th, 2022/IndustryNewsGlobal/ — This new report from Stratview Research analyses the Succinic Acid Market over the trend period from 2015 to 2020 and forecast period from 2021 to 2026. The insights of the report shall enable informed decision making and strategy formulation for the near future to capitalize on the opportunities.
Succinic Acid Market Overview:
The sudden outbreak of the COVID-19 has led to unforeseen fluctuations across many industries and the Succinic Acid Market is no different. Derived from the previous market scenario, the Succinic Acid Market is likely to witness a CAGR of 2.6% during the forecast period.
- GC Innovation America
- Succinity GmbH
- Nippon Shokubai
- Kawasaki Kasei Chemicals.
The Succinic Acid Market is segmented by–
- byType (Bio-based Succinic Acid and Petro-based Succinic Acid),
- by End-Use Industry Type(Industrial, Coatings, Food & Beverages, Cosmetics, Pharmaceutical, and Others), and
- byRegion (North America, Europe, Asia-Pacific, and Rest of the World)
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In terms of regions, Asia-Pacific is estimated to be the largest market for succinic acid during the forecast period, with China, Southeast Asia, and India, being the major countries with lucrative growth opportunities. The growth of the market is driven by the growth of various end-use industries, such as industrial, food & beverage, pharmaceutical, and coating industries, which is generating huge demand for succinic acid and the presence of a large number of succinic acid manufacturers in the Asia-Pacific region. In China, succinic acid is majorly being used to produce a series of derivatives, such as dimethyl succinate (DMS) and 1,4-BDO, which are further used for soldering flux and surfactant applications in the chemical industry. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.
About Stratview Research
Stratview Research is a global market intelligence firm providing wide range of services including syndicated market reports, custom research and sourcing intelligence across industries, such as Advanced Materials, Aerospace & Defense, Automotive & Mass Transportation, Consumer Goods, Construction & Equipment, Electronics and Semiconductors, Energy & Utility, Healthcare & Life Sciences, and Oil & Gas.