The global succinic acid market size was US$ 222.9 million in 2021 and is expected to reach US$ 512.8 million by 2030, growing at a compound annual growth rate (CAGR) of 9.7% during the forecast period from 2022 to 2030.
Succinic acid has the chemical formula (CH2)2(CO2H)2, which is dicarboxylic. In living things, succinic acid takes the form of the anion succinate, which serves a number of biological functions. It is both a signaling molecule that reflects the metabolic state of the cell and a metabolic intermediate that is converted into fumarate by the enzyme succinate dehydrogenase in complex 2 of the electron transport chain, which is involved in the production of ATP. The tricarboxylic acid cycle (TCA) in mitochondria produces succinate.
Factors Influencing Global Market Growth
Impact Analysis of COVID-19
The COVID-19 pandemic had a negative effect on the global market. In order to stop the virus from spreading, the majority of countries had to enact lockdowns and movement restrictions. Shutdowns occurred across all sectors and production facilities, impacting the supply chain. Important nations like France, Italy, Spain, India, and the U.K. saw a negative impact on product demand. However, when more industries gradually reopen, there will be a steady increase in demand for succinic acid in the global market.
Regional Analysis
In 2021, Europe held a significant share of the global succinic acid market. This is due to the expanding healthcare and agriculture industries in the region. The customers' increasing preference for bio-based products as drop-in replacements, and product demand in Europe will drive the market growth.
Succinic acid is widely utilized in the personal care and cosmetics sector in Europe. Numerous cosmetic companies, like Unilever and P&G, are based in Europe, which is a major contributor to the expansion of this regional market. The aerospace industry has expanded owing to the significant presence of aircraft manufacturers in certain regions of Germany and the United Kingdom.
Prominent Companies
Some of the leading companies profiled in the global succinic acid market are:
Segmentation Outline
The global succinic acid market segmentation focuses on Type, End-Use, and Region.
By Type
By End-Use
By Region
[TABLE OF CONTENTS]
1 INTRODUCTION OF GLOBAL SUCCINIC ACID MARKET
1.1 OVERVIEW OF THE MARKET
1.2 SCOPE OF REPORT
1.3 ASSUMPTIONS
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY
3.1 DATA MINING
3.2 VALIDATION
3.3 PRIMARY INTERVIEWS
3.4 LIST OF DATA SOURCES
4 GLOBAL SUCCINIC ACID MARKET OUTLOOK
4.1 OVERVIEW
4.2 MARKET DYNAMICS
4.2.1 DRIVERS
4.2.2 RESTRAINTS
4.2.3 OPPORTUNITIES
4.3 PORTERS FIVE FORCE MODEL
4.4 VALUE CHAIN ANALYSIS
5 GLOBAL SUCCINIC ACID MARKET, BY TYPE
5.1 OVERVIEW
5.2 PETRO-BASED
5.3 BIO-BASED
6 GLOBAL SUCCINIC ACID MARKET, BY END-USE
6.1 OVERVIEW
6.2 FOOD & BEVERAGES
6.3 PHARMACEUTICAL
6.4 COATINGS
6.5 INDUSTRIAL
6.6 PERSONAL CARE & COSMETICS
6.7 OTHERS
7 GLOBAL SUCCINIC ACID MARKET, BY GEOGRAPHY
7.1 OVERVIEW
7.2 NORTH AMERICA
7.2.1 NORTH AMERICA MARKET SNAPSHOT
7.2.2 U.S.
7.2.3 CANADA
7.2.4 MEXICO
7.3 EUROPE
7.3.1 EUROPE MARKET SNAPSHOT
7.3.2 WESTERN EUROPE
7.3.2.1 THE UK
7.3.2.2 GERMANY
7.3.2.3 FRANCE
7.3.2.4 ITALY
7.3.2.5 SPAIN
7.3.2.6 REST OF WESTERN EUROPE
7.3.3 EASTERN EUROPE
7.3.3.1 POLAND
7.3.3.2 RUSSIA
7.3.3.3 REST OF EASTERN EUROPE
7.4 ASIA PACIFIC
7.4.1 ASIA PACIFIC MARKET SNAPSHOT
7.4.2 CHINA
7.4.3 JAPAN
7.4.4 INDIA
7.4.5 AUSTRALIA & NEW ZEALAND
7.4.6 ASEAN
7.4.7 REST OF ASIA PACIFIC
7.5 MIDDLE EAST & AFRICA
7.5.1 MIDDLE EAST & AFRICA MARKET SNAPSHOT
7.5.2 UAE
7.5.3 SAUDI ARABIA
7.5.4 SOUTH AFRICA
7.5.5 REST OF MEA
7.6 SOUTH AMERICA
7.6.1 SOUTH AMERICA MARKET SNAPSHOT
7.6.2 BRAZIL
7.6.3 ARGENTINA
7.6.4 REST OF SOUTH AMERICA
8 GLOBAL SUCCINIC ACID MARKET COMPETITIVE LANDSCAPE
8.1 OVERVIEW
8.2 COMPANY MARKET RANKING
8.3 KEY DEVELOPMENT STRATEGIES
9 COMPANY PROFILES
9.1 BASF SE
9.1.1 OVERVIEW
9.1.2 FINANCIAL PERFORMANCE
9.1.3 PRODUCT OUTLOOK
9.1.4 KEY DEVELOPMENTS
9.2 MYRIANT CORPORATION
9.2.1 OVERVIEW
9.2.2 FINANCIAL PERFORMANCE
9.2.3 PRODUCT OUTLOOK
9.2.4 KEY DEVELOPMENTS
9.3 BIOAMBER
9.3.1 OVERVIEW
9.3.2 FINANCIAL PERFORMANCE
9.3.3 PRODUCT OUTLOOK
9.3.4 KEY DEVELOPMENTS
9.4 PARCHEM
9.4.1 OVERVIEW
9.4.2 FINANCIAL PERFORMANCE
9.4.3 PRODUCT OUTLOOK
9.4.4 KEY DEVELOPMENTS
9.5 DOW CHEMICALS
9.5.1 OVERVIEW
9.5.2 FINANCIAL PERFORMANCE
9.5.3 PRODUCT OUTLOOK
9.5.4 KEY DEVELOPMENTS
9.6 ERNESTO VENTOS S.A.
9.6.1 OVERVIEW
9.6.2 FINANCIAL PERFORMANCE
9.6.3 PRODUCT OUTLOOK
9.6.4 KEY DEVELOPMENTS
9.7 THE CHEMICAL COMPANY
9.7.1 OVERVIEW
9.7.2 FINANCIAL PERFORMANCE
9.7.3 PRODUCT OUTLOOK
9.7.4 KEY DEVELOPMENTS
9.8 KAWASAKI KASEI CHEMICALS LTD.
9.8.1 OVERVIEW
9.8.2 FINANCIAL PERFORMANCE
9.8.3 PRODUCT OUTLOOK
9.8.4 KEY DEVELOPMENTS
9.9 MITSUBISHI CHEMICAL CORPORATION
9.9.1 OVERVIEW
9.9.2 FINANCIAL PERFORMANCE
9.9.3 PRODUCT OUTLOOK
9.9.4 KEY DEVELOPMENTS
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