Global Succinic Acid Market Size By Type, By End-User, By Geographic Scope And Forecast
Succinic acid Market Size And Forecast
Succinic acid Market was valued at USD 140 Million in 2019 and is projected to reach USD 231.56 Million by 2027, growing at a CAGR of 6.5% from 2020 to 2027.
Global Succinic acid Market Outlook
In the report, the market outlook section mainly encompasses fundamental dynamics of the market which include drivers, restraints, opportunities and challenges faced by the industry. Drivers and restraints are intrinsic factors whereas opportunities and challenges are extrinsic factors of the market.
Growing adoption of succinic acid as a replacement for adipic acid in the production of polyurethane is likely to drive the market during the forecasted period. Characteristics of succinic acid such as non-toxic nature, better heat resistance & processability, and being biodegradable are expected to fuel the market in the coming years. Rising demand for bio-based chemicals, increasing per capita income across the globe, changing dietary patterns, and growing demand from the beverage and food industry expects a boost to the market over the predicted years.
Verified Market Research narrows down the available data using primary sources to validate the data and use it in compiling a full-fledged market research study. The report contains a quantitative and qualitative estimation of market elements which interests the client. The Global Succinic acid Market is mainly bifurcated into sub-segments which can provide a classified data regarding latest trends in the market.
Global Succinic acid Market Competitive Landscape
The Global Succinic acid Market study report will provide a valuable insight with an emphasis on global market including some of the major players such as Merck KGaA, Ernesto Ventos. S.A., ThyssenKrupp AG, BioAmber, Inc., Myriant Corporation, Succinity GmbH, Reverdia, NIPPON SHOKUBAI CO., LTD., KAWASAKI KASEI CHEMICALS, and Anhui Sunsing Chemicals Co., Ltd.
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