ALBANY, NY - High production costs associated with petroleum-based succinic acid are a key challenge for industry participants, which leads 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 increased government intervention to reduce industrial waste and air pollutants.
A new report released by Market Research Reports, Succinic Acid Market for 1,4-BDO, Resin, Coatings,Lubricants and De-Icing Solutions Applications - Global Industry Analysis, Size, Share, Growth, Trends, looks at the global market for succinic acid.
The report 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). The study delineates the major factors that are driving and restraining the global demand for succinic acid and their impact over the forecast period. It segments the succinic acid market on the application level and also provides the forecast for each sub-segment. The study covers forecast and estimates of global succinic acid demand in terms of revenues (U.S. dollars) and volumes (kilo tons) from 2012 to 2018.
Major succinic acid applications included in the study are 1,4 butanediol, polyurethane, plasticizers, resins, coatings, dyes and inks, pharmaceutical, food, cosmetics, solvents and lubricants, de-icing solutions, and others. Resins, coatings, dyes and inks have been dominating the global succinic acid market and are anticipated to continue to grow over the next five years. 1,4 butanediol is anticipated to grow at the fastest rate through 2018. Polyurethane is expected to be the second-fastest growing outlet for succinic acid. The report provides an in-depth study covering the key business strategies and recent developments of major players in the market. It also provides company overviews and their financial position, which helps in determining competition in the market.
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