Global Succinic Acid Market is Expected to Reach USD 836.2 Million by 2018: Transparency Market Research

 Global Succinic Acid Market is Expected to Reach USD 836.2 Million by 2018:
                         Transparency Market Research

  PR Newswire

  ALBANY, New York, September 4, 2013

ALBANY, New York, September 4, 2013 /PRNewswire/ --

Transparency Market Research has released a market report titled " Succinic
Acid Market for 1,4-BDO, Resin, Coatings, Dyes & Inks, Pharmaceutical,
Polyurethane, Food, Plasticizers, Cosmetics, Solvents & Lubricants and
De-Icing Solutions Applications - Global Industry Analysis, Size, Share,
Growth, Trends and Forecast, 2012  -  2018, " according to the report,
global succinic acid market was valued at USD 240.3 million in 2011 and is
expected to reach USD 836.2 million by 2018, growing at a CAGR of 19.4% from
2012 to 2018. Global succinic acid production is expected to cross 250 kilo
tons by 2018.

Browse the full report at .

Increased demand for 1, 4 butanediol, plasticizers, polyurethane, and resins,
coatings, dyes and inks has remained the major driving factor for this market.
However, high prices of raw material and increasing environmental concerns are
the major constraints for the market growth. Growing consumer demand for
bio-based succinic acid and low production cost has positively impacted the
growth of bio-based succinic acid resulting into strong investment in new
projects. This is expected to result into increase in production capacity to
fulfill the growing demand for succinic acid in near future. Emergence of
bio-based succinic acid market is expected to offset impact of restraining
factors such as environmental regulations, volatility in raw materials prices.

Resins, coatings, dyes and inks dominated the market and accounted for 20.8%
of the total succinic acid consumption in 2011. With 13.0% share of total
volume consumed in 2011, pharmaceutical industry was the second largest
application segment for succinic acid. Succinic acid demand is primarily a
function of growth in application industries such as paints & coatings,
infrastructure, food, footwear, medical, cosmetics, and automotive. Bio-based
succinic acid, which has significant potential as a platform chemical,
particularly substituting maleic anhydride, is expected to provide huge market
opportunity for the players in the market, with a number of companies already
in pilot and demo-scale projects for bio-succinic acid production.

Europe dominated the global succinic acid market with a share of 33.6% in 2011
followed by North America and Asia-Pacific which together accounted for 58.8%
of the total market. Asia Pacific is estimated to be the fastest growing
market for succinic acid due to the rising demand from the most emerging
economies such as China, India and Japan. Rapid growth of downstream
industries in these countries is expected to drive succinic acid demand in

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Succinic Acid Market: Application Analysis

  *Resins, coatings, dyes & inks
  *Solvents and lubricants
  *De-icing solutions

Succinic Acid Market: Regional Analysis

  *North America
  *Rest of the World (RoW)

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