Resins, coatings, dyes and inks dominated the market and accounted for 20.8 percent of the total succinic acid consumption in 2011. With a 13 percent share of total volume consumed in 2011, the pharmaceutical industry was the second-largest application segment for succinic acid. Succinic acid demand is primarily a function of growth in application industries such as 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 percent in 2011, followed by North America and Asia-Pacific, which together accounted for 58.8 percent of the total market. Asia-Pacific is estimated to be the fastest-growing market for succinic acid due to the rising demand from emerging economies such as China and India. Rapid growth of downstream industries in these countries is expected to drive succinic acid demand in Asia-Pacific.

For additional information about the report, titled "Succinic Acid Market for 1,4-BDO, Resin, Coatings, Dyes & Inks, Pharmaceutical, Polyurethane, Food, Plasticizers, Cosmetics, Solvents & Lubricants and De-Icing Solutions Applications - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 - 2018," visit http://www.transparencymarketresearch.com/succinic-acid.html.