High production costs associated with petroleum-based succinic acid is a key challenge for industry participants, leading to enhanced focus on the development and commercialization of bio-based succinic acid. However, with the advent of bio-derived succinic acid, the cost of production is expected to decline which is expected to further fuel the demand for succinic acid globally. Bio-based succinic acid is gaining popularity due to high degree of government intervention to reduce industrial waste and air pollutants.
This report caters to the extensive study of the global succinic acid market. It covers the demand for succinic acid in various regions that are broadly categorized as North America, Europe, Asia Pacific and Rest of the World (RoW). The study delineates major factors which are driving and restraining the global demand for succinic acid and their impact over the forecast period. The study segmented the succinic acid market on the application level and also provides the forecast for each sub-segment. The study covers forecast and estimates of global succinic acid demand in terms of revenues (USD million) and volumes (kilo tons) from 2012 to 2018.
Major succinic acid applications elucidated in this study includes 1,4 butanediol, polyurethane, plasticizers, resins, coatings, dyes and inks, pharmaceutical, food, cosmetics, solvents and lubricants, de-icing solutions, and others. Resins, coatings, dyes and inks have been dominating the global succinic acid market and are anticipated to continue to override over the next five years. 1, 4 BDO is anticipated to grow at a fastest rate through 2018.
Polyurethane is expected to be second fastest growing outlet for succinic acid. The report also provides in-depth study covering the key business strategies and recent development of major players in the market. It also covers the company overview and their financial position which helps in determining competition in the market.