Succinic Acid Market Will Grow at Cagr of 21% by 2021 - by Market Research Engine

Succinic Acid Market will Grow at CAGR of 21% by 2021 - by

Market Research Engine

New York, July 30: Market Research Engine has published a new report titled as

“Succinic Acid Market for 1,4-BDO, Resin, Coatings, Dyes & Inks, Pharmaceutical,

Polyurethane, Food, Plasticizers, Cosmetics, Solvents & Lubricants and De-Icing

Solutions Applications - Global Industry Analysis, Size, Share, Growth, Trends and

Forecast, 2016 - 2021”

Succinic acid is white, solid and odourless chemical compound. It is mainly used as feedstock

for many materials such as polymers, resins and solvents. FDA has approved it as as safe for

additives in food and dietary supplements.

Browse Full Report: https://www.marketresearchengine.com/reportdetails/succinic-acid-market

Global Succinic acid market is anticipated to exceed more than USD 490 million by 2020. The

revenue of this market is projected to increase at CAGR of 21% during the forecast period.

Europe is a leading market for succinic acid industry by revenue which accounted largest share

worldwide. Asia Pacific is a second leading market and will grow with highest growth rate at a

CAGR of 28% owing to exponential demand for succinic acid in various end-use applications

such as pharmaceuticals and personal care industry. China is known for largest consumer of

succinic acid in Asia Pacific acid.

Increasing demand for bio based succinic is challenging the market players to meet the needs of

consumers which is a driver for global succinic acid market. Rising demand in pharmaceuticals

industry is one of the driving factors. Personal care and pharmaceutical market account the

largest share in the market which is major driving factor for global market.

The global succinic acid market according to its source is segmented as petroleum-based and

bio-based. The following market by application is segmented as 1, 4 butanediol, polyurethane,

food and beverages, resins, coatings & pigments, plasticizers, pharmacy, de-icer...