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Succinic Acid Market Demand, Growth, Statistics and Size with Key Players – GC Innovation America, Succinity GmbH, Reverdia and More

Feb 7, 2021 5:04 PM ET

Succinic Acid Market

The Global Succinic Acid Market was valued at USD 128.8 million in 2018 and is expected to reach USD 217.6 million by the year 2026, at a CAGR of 6.7%. The succinic acid is an intermediate in several chemical processes and it is used in the production of various products. The major drivers for the growth of this market are the growing applications and the movement of chemical industry. It is used as a sequestrant, buffer, and a neutralizing agent in various foods. Because of its rise in food production, it is gaining a lot of demand. In various applications, succinic acid can also be used in food and beverages, chemical industries, personal care and pharmaceutical industries.

Some of the factors which driving the growth of the succinic acid market are increasing applications and movement of the chemical industry towards bio-based sustainable chemicals, increased use of succinic acid in pharma industries, increasing concerns and awareness of environmental issue, low cost, and eco-friendly has a increased the demand of succinic acid in the market. Petro-based succinic acid is of low cost and has better efficiency as compared to bio-based type. Also, it can be widely used in the food & beverage industry as a flavor enhancer and in the chemical industry for the manufacture of PBS. Some of the challenges which is hampering the growth of succinic acid market is the availability of alternatives such as citric and malic acid, both of these chemicals occur naturally which is the reason some of the application segments prefer to use them, thereby leading to a competitive challenge.

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The report further studies the significant trends and demands of the market in each key region of the market and analyzes the strategic steps and initiatives taken by the leading companies of the industry. Some of the major companies operating in the Succinic Acid market and profiled in the report are:

GC Innovation America, Succinity GmbH, Reverdia, Nippon Shokubai, Shandong Lixing Chemical, Kawasaki Kasei Chemicals, Anqing Hexing Chemical, and Anhui Sunsing

The research study further covers the expansion and scope of the market in the key geographies across the globe. It assesses the scope of the market on a global as well as country-wise level. The market is spread across the key regions that include: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report provides a comprehensive analysis of the production and consumption patterns, import and export ratio, supply and demand dynamics, key trends and demands, consumer behavior, and presence and operations of prominent players in each region of the market.

The report covers the assessment of the historical data of the market to offer key insights into the current and emerging trends in the business sphere. The report considers 2017-2018 as historical years, 2019 as the base year, and 2021-2026 as forecast years. The report also discusses in detail the mergers and acquisitions, collaborations, joint ventures, product launches, brand promotions, corporate and government deals, and partnerships occurring in the market.

The report further segments the market on the basis of product types and application spectrum offered by the market.

By Type (Revenue in USD Million; Volume in Kilo Tons, 2016–2026)

  • Petro-Based
  • Bio-Based

By Application (Revenue in USD Million; Volume in Kilo Tons, 2016–2026)

  • Industrial
  • Coatings
  • Food & Beverage
  • Pharmaceutical
  • Others

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Chapter 1. Market synopsis

    1.1. Market definition

    1.2. Research scope & premise

    1.3. Methodology

    1.4. Market estimation technique

Chapter 2. Executive summary

    2.1. Summary snapshot, 2016 – 2026

Chapter 3. Indicative metrics

Chapter 4. Succinic market segmentation & impact analysis

    4.1. Succinic market segmentation analysis

    4.2. Industrial outlook


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The report is a qualitative and quantitative research study that offers key insights into the latest strategic steps and tactics undertaken by the industry players to gain a robust footing in the market. The report further offers strategic recommendations to the new and emerging players and established companies to help them overcome the barriers of the industry. The report also covers a comprehensive SWOT analysis and Porter’s Five Forces analysis to offer a better understanding of the Succinic Acid market and its competitive landscape.

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