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Global Succinic Acid Market By (Applications & Geography) worth $496.0 Million by 2016 - New Report by MarketsandMarkets
Date:9/8/2013

dustry. The low cost and potential of bio-succinic acid to open up a wide array of applications such as polyurethanes, 1,4-butanediol, plasticizers, thermoplastics, etc. are further expected to boost the bio-succinic acid market.

Increasing popularity of renewable chemicals remain the key driving factors for chemical companies to enter into the production of bio-based succinic acid by using green production process. In the light of high growth prospects of bio-based succinic acid and achievement of cost effective production of succinic acid by using renewable feedstocks, strong investments and an increasing number of new projects are expected to come up. Several companies have invested heavily into the development or expansion of existing facilities for bio-based succinic acid. This will result into significant increase in production volume of succinic acid in the near future.

The global succinic acid market in terms of revenue was estimated to be worth $182.8 million in 2010 and is expected to reach $496.0 million by 2016, growing at a CAGR of 18.7% from 2011 to 2016. Europe and North America dominate the global succinic acid market, together accounting for 66.0% of the global succinic acid demand in 2010. Asia-Pacific is expected to be the fastest growing market in the near future owing to the rapid advancement and increasing demand from key countries such as China and India.

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