Global Petro-Based Succinic Acid Market by Product Types, Applications, and Regions — Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2020–2026
The global petro-based succinic acid market was valued at USD 78.6 million in 2019 and is expected to reach USD 84.5 million by 2026, expanding at a CAGR of 6.2% during the forecast period, 2020–2026. Petro-based succinic acid is a key structure block for a varied range of secondary chemicals and is used in chemical, pharmaceutical, food, and agricultural industries. Succinic acid also called C4-dicarboxylic acid is produced chiefly from petroleum feedstock.
Request for sample@https://dataintelo.com/request-sample/?reportId=45930
Petro-based succinic acid has continued to be a large underexploited market, regardless of its potential as a platform molecule owing primarily of high manufacturing cost related with the petroleum-derived procedure. These complex compounds can be transformed via hydrogenation or reduction to butanediol, tetrahydrofuran and gamma-butyrolactone.
Market Trends, Drivers, Restraints, and Opportunities:
- Growing scope of applications in personal care products, food colorants, lubricants, and pigment in turn, is driving the growth for the global petro-based succinic acid
- Increase in number of cosmetics demands, succinic acid manufacturers globally specially in developing countries, is fueling the growth of the market.
- Increase in population suffering cancer diseases, has fueled the need for petro-based succinic acid globally as it aids to kill the growth of cancerous cells in patients.
- Stringent government regulations and high initial cost of production, are the key restraint to the global petro-based succinic acid
- Rising interests in the field of dermatology, succinic acid acts as an anti-inflammatory and antioxidants to skincare problems, which poses as a growth to the global market.
- Cost-effective technological advancements in petro-based succinic acid, manufacturers are focusing on fast growing segments and is anticipated to offer growth opportunities in forecast period.
Competitive Landscape:
Major companies in the global petro-based succinic acid market are moderately fragmented due to large and small players in the market. The market is highly competitive and is dominated by large and medium companies. Major companies include Віоаmbеr, Succinity, Myriant, Gadiv Petrochemical Industries Ltd., Kawasaki Kasei Chemicals Ltd., Lіnуі Lіхіng Сhеmісаl, Mitsubishi Chemical Holdings, Nippon Shokubai, Аnhuі Ѕunѕіng Сhеmісаlѕ, Reverdia, Purac, Аѕtаtесh, R-Віорhаrm, Anhui Sunsing Chemicals, Еvоnіk, Тhуѕѕеnkruрр and Linyi Lixing Chemical Co., Ltd., and BASF. The market players are engaged in product differentiation and cost-effective pricing strategy to strengthen their market share and gain traction in global marketplace. The companies are engaging in strategic acquisitions such as product launches, R&D, agreements, and collaborations to gain market share.
Ask for discount@https://dataintelo.com/ask-for-discount/?reportId=45930
The global petro-based succinic acid market has been segmented on the basis of
Product Types
- Industrial Grade
- Pharmaceutical Grade
- Food Grade
Applications
- Food & Beverages
- Pharmaceuticals Industry
- Chemical Industry
Regions
- Asia Pacific
- Europe
- North America
- Middle East & Africa
- Latin America
Enquiry Before Buying@https://dataintelo.com/enquiry-before-buying/?reportId=45930
Why Choose Us:
- We offer industry-leading critical reports with accurate insights into the future of the market.
- Our reports have been evaluated by some industry experts in the market, thus making them beneficial for the company’s to maximize their return on investments.
- We provide a comprehensive pictorial representation of the information, strategic recommendations, outcomes of the analytical tools to offer an elaborate landscape, highlighting the key market players. This detailed assessment of the market will help the company increase efficiency.
- The demand and supply dynamics offered in the report give a 360 degree view of the market.
- Our report helps readers decipher the current and future constraints in the Petro-Based Succinic Acid Market, and help them formulate optimum business strategies to maximize growth in the market.
Table of Contents
- Executive Summary
- Assumptions and Acronyms Used
- Research Methodology
- Petro-Based Succinic Acid Market Overview
- Global Petro-Based Succinic Acid Market Analysis and Forecast by Type
- Global Petro-Based Succinic Acid Market Analysis and Forecast by Application
- Global Petro-Based Succinic Acid Market Analysis and Forecast by Sales Channel
- Global Petro-Based Succinic Acid Market Analysis and Forecast by Region
- North America Petro-Based Succinic Acid Market Analysis and Forecast
- Latin America Petro-Based Succinic Acid Market Analysis and Forecast
- Europe Petro-Based Succinic Acid Market Analysis and Forecast
- Asia Pacific Petro-Based Succinic Acid Market Analysis and Forecast
- Middle East & Africa Petro-Based Succinic Acid Market Analysis and Forecast
- Competition Landscape
About DataIntelo:
DATAINTELO has set its benchmark in the market research industry by providing syndicated and customized research report to the clients. The database of the company is updated on a daily basis to prompt the clients with the latest trends and in-depth analysis of the industry. Our pool of database contains various industry verticals that include: IT & Telecom, Food Beverage, Automotive, Healthcare, Chemicals and Energy, Consumer foods, Food and beverages, and many more. Each and every report goes through the proper research methodology, validated from the professionals and analysts to ensure the eminent quality reports.
Contact Info:
Name: Alex Mathews
Address: 500 East E Street, Ontario,
CA 91764, US.
Phone No: US: +1 909 545 6473 | IND: +91–7000061386
Email: [email protected]
Website: https://dataintelo.com