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Succinic Acid Market is Expected to Reach USD 836.2 Million by 2018: Transparency Market Research
Date:10/2/2013

imarily 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 Asia-Pacific.

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.

Related Report:
Synthetic And Bio-Based Adipic Acid Market : http://www.transparencymarketresearch.com/synthetic-and-bio-based-adipic-acid.html

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)
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