MarketsandMarkets: Global Succinic Acid Market worth $496.0 Million by 2016
DALLAS, March 9, 2012 /PRNewswire/ –
The report “Succinic Acid Market by Applications & Geography – Global Trends &
Forecasts (2011-2016)” defines and segments the global succinic acid market with analysis
and forecasting of the global volume and revenue for succinic acid. It also identifies
driving and restraining factors for the global succinic acid market with analysis of
trends, opportunities, burning issues, winning imperatives, and challenges. Global
Succinic Acid Market is expected to reach $496.0 Million by 2016, growing at a CAGR Of
18.7% from 2011 to 2016. The market is segmented and revenues are forecasted on the basis
of major geography such as North America, Europe, Asia-Pacific, and Rest of the World
(ROW). The key countries are covered and forecasted for each region. Further, market is
segmented and revenues are forecasted on the basis of applications.
Browse more than 50 market data tables/figures spread through 209 pages and in-depth
TOC on “Succinic Acid Market by Applications & Geography – Global Trends & Forecasts
buyers will receive 10% customization on reports.
Succinic acid is widely employed in chemical, pharmaceutical, food, and agricultural
industries. These rapidly growing industrial markets for succinic acid are expected to
boost the demand for succinic acid. Succinic acid yields derivatives such as
1,4-butanediol (BDO), gamma-butyrolactone (GBL), and tetrahydrofuran (THF), which have
high potential for use as solvents and fibers. In addition, pyrrolidinones and
N-methylpyrrolidinone can also be directly produced from succinic acid manufactured by
fermentation. These organic chemicals find high demand in pharmaceutical industry. The low
cost and potential of bio-succinic acid to open up a wide array of applications such as
polyurethanes, 1,4-butanediol, plasticizers, thermoplastics, etc. are further expected to
boost the bio-succinic acid market.
Increasing popularity of renewable chemicals remain the key driving factors for
chemical companies to enter into the production of bio-based succinic acid by using green
production process. In the light of high growth prospects of bio-based succinic acid and
achievement of cost effective production of succinic acid by using renewable feedstocks,
strong investments and an increasing number of new projects are expected to come up.
Several companies have invested heavily into the development or expansion of existing
facilities for bio-based succinic acid. This will result into significant increase in
production volume of succinic acid in the near future.
The global succinic acid market [
http://www.marketsandmarkets.com/Market-Reports/succinic-acid-market-402.html ] in
terms of revenue was estimated to be worth $182.8 million in 2010 and is expected to reach
$496.0 million by 2016, growing at a CAGR of 18.7% from 2011 to 2016. Europe and North
America dominate the global succinic acid market, together accounting for 66.0% of the
global succinic acid demand in 2010. Asia-Pacific is expected to be the fastest growing
market in the near future owing to the rapid advancement and increasing demand from key
countries such as China and India.
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