PUNE, India, July 8, 2016 /PRNewswire/ --
The report "Succinic Acid Market by Type (Bio-based, Petro-based), by Application (Polyurethane, Resins, Coatings & Pigments, Pharmaceuticals, Plasticizers, Food & Beverage, PBS/PBST, Solvents & Lubricants, De-Icer Solutions, Personal Care, and Others), and by Region - Global Forecast to 2021", Published by MarketsandMarkets, The global market is projected to reach USD 701.0 Million at a CAGR of 28.0%.
(Logo: http://photos.prnewswire.com/prnh/20160303/792302 )
Browse 191 market data Tables and 65 Figures spread through 224 Pages and in-depth TOC on "Succinic Acid Market"
http://www.marketsandmarkets.com/Market-Reports/succinic-acid-market-402.html
Early buyers will receive 10% customization on this report.
It is projected to reach 251.3 kilotons by 2021, registering a CAGR of 27.2%. This growth is fueled by the increasing production capacities, rising development strategies, growing shift toward bio-based renewable substitutes in the plastics industry, and growing application sectors globally.
Bio-based: The largest succinic acid market, by type
Bio-based is the largest segment of the succinic acid market based on type. Owing to their ability to reduce the emission of greenhouse gases, less volatility, and provide longer shelf life to food & beverage, they are used in manufacturing of non-toxic pharmaceuticals, polymers, phthalate free plasticizers, resins, coatings & pigments, among others. The increasing demand for non-degradable, durable, and high-performance products in the automotive, packaging, and furniture & construction industries has fueled the growth of bio-based succinic acid.
Polyurethane: The largest application market for succinic acid
Polyurethane is the largest application segment for succinic acid owing to the increasing demand from plasticizers, coatings, and polymer applications in Western Europe, North America, and Asia-Pacific, as bio-based succinic acid has the ability to reduce 94.0% greenhouse gas emissions in comparison to that of petro-based. Polyurethanes are used in thermoplastics, artificial leather, and alkyd resins for coating to sustain the performance and quality of the coated materials in extreme climate conditions and UV radiation exposures, provide weathering resistivity, resist abrasion and chemicals. The cost-effective solutions with long-term durability are the major factors driving the demand for succinic acid market in the polyurethane application segment.
Make an Inquiry @ http://www.marketsandmarkets.com/Enquiry_Before_Buying.asp?id=402
Western Europe: The largest market for succinic acid
Western Europe is estimated to be the largest market for succinic acid globally. This is mainly attributed to the presence of a large number of succinic acid manufacturers, increasing government support, rising foreign investments, and growing demand for bio-base succinic acid from the plastics, polymers, food & beverage, and personal care industries. Germany dominates the market owing to growth of succinic acid in applications such as polyurethanes, resins, coatings & pigments, pharmaceuticals, PBS/PBST, food & beverage, plasticizers, personal care, and others and numerous developmental strategies adopted by the manufacturers.
The global succinic acid market is fragmented owing to the presence of a large number of buyers and suppliers worldwide. Increasing rivalry among the players to obtain majority of the patents for succinic acid used in applications such as packaging, coatings, and stabilization of engineering plastics has played a major role in intensifying the level of competition. Major players such as BioAmber (Canada), Myriant (U.S.), Succinity (Germany), Reverdia (Netherlands), and Mitsubishi Chemical Holdings (Tokyo) have adopted organic and inorganic developmental strategies.
Browse Related Reports:
Renewable Chemicals Market Alcohols (Ethanol, Methanol), Biopolymers (Starch, PLA, PHA, Polyethylene & Others), Platform Chemicals & Others - Global Trends & Forecasts to 2018
http://www.marketsandmarkets.com/Market-Reports/renewable-chemical-274.html
1,4-Butanediol (BDO) Market By Technology (Reppe Process, Davy process, Butadiene Process, Propylene Oxide Process & Others), Applications, & Geography: Global Industry Trends & Forecasts to 2017
http://www.marketsandmarkets.com/Market-Reports/1-4-butanediol-market-685.html
Know More About our Knowledge Store @ http://www.marketsandmarkets.com/Knowledgestore.asp
About MarketsandMarkets
MarketsandMarkets is the world's No. 2 firm in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.
M&M's flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.
Contact:
Mr. Rohan
Markets and Markets
UNIT no 802, Tower no. 7, SEZ
Magarpatta city, Hadapsar
Pune, Maharashtra 411013, India
Tel: +1-888-600-6441
Email: sales@marketsandmarkets.com
Visit MarketsandMarkets Blog @ http://www.marketsandmarketsblog.com/market-reports/chemical
Connect with us on LinkedIn @ http://www.linkedin.com/company/marketsandmarkets
SOURCE MarketsandMarkets
Share this article