DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/5m6brz/succinic_acid) has announced the addition of the "Succinic Acid Market by Source, Application - Global Trends & Forecast to 2019" report to their offering.
The succinic acid market is projected to witness a CAGR of 22.6% by volume between 2014 and 2019, and is expected to generate a global market value of $486.7 million by 2019.
This report on succinic acid considers its major applications namely, 1,4 BDO, Polyurethane, Food and Beverages, Resins, Coatings & Pigments, Plasticizers, Pharmaceuticals, De-icer solutions, PBS/PBST, Solvents & Lubricants, Personal Care, Others. The key factors driving the global succinic acid market include growing demand from the Asia-Pacific region and from the application segments. 1,4 BDO, Polyurethane, Plasticizers, PBS/PBST, Pharmaceuticals & Personal Care application market growth is one of the key drivers for this market. Increasing cost of the conventional feedstock and regulations of conventional chemicals are further driving it globally.
1, 4 BDO is the largest application of succinic acid across the world. The market size in terms of value for the same is projected to reach $117.2 million by 2019. The succinic acid demand for BDO application from Asia-Pacific region is growing at a high rate. This is due to the growing industrialization and the rise in the manufacturing sector.
While polyurethane currently accounts for the second largest application market for succinic acid, the pharmaceuticals & Personal Care industry is also witnessing increasing demand from the manufacturers of medical accessories and personal hygiene products. Pharmaceuticals & Personal Care is one of the fastest-growing applications of succinic acid, driven by its huge R&D efforts leading to product innovations and the preference for expensive & effective pharmaceuticals & cosmetics product globally.
Currently Petro-based is the commonly used succinic acid globally. The market for the same is estimated to decline by 2019. Due to the negative impact of the conventional succinic acid, emphasis is laid on production and consumption of bio-based succinic acid. Bio-based succinic acid is primarily preferred for pharmaceuticals & cosmetics applications as they are considerably less toxic, which has great advantages for the industry of personal care, home care, and cosmetics.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Succinic Acid Market, By Application
8 Succinic Acid By Region
9 Competitive Landscape
10 Company Profiles
- BASF SE
- DSM N.V
- Gadiv Petrochemical Industries Ltd.
- Kawasaki Kasei Chemicals Limited
- Mitsubishi Chemical Corporation
- Mitsui & Co. Ltd
- Myriant Corporation
- Nippon Shokubai Co. Ltd
- PTT Global Chemical Public Limited
- Roquette Frères S.A.
For more information visit http://www.researchandmarkets.com/research/5m6brz/succinic_acid