The global Succinic Acid Market Study analyzes and forecasts the market size across 6 regions and 24 countries for diverse segments -By Type (Petro-based, Bio-based), By End-User (Food & Beverages, Pharmaceutical, Coatings, Industrial, Personal Care & Cosmetics, Others).
Succinic acid, a naturally occurring dicarboxylic acid, s to garner attention as a sustainable alternative to petroleum-based chemicals in 2024. This organic compound, produced through fermentation of renewable feedstocks such as sugars or agricultural residues, serves as a building block for various chemical products including polymers, resins, solvents, and pharmaceuticals. In industries such as bioplastics, food additives, pharmaceuticals, and personal care products, succinic acid offers advantages such as biodegradability, non-toxicity, and compatibility with existing manufacturing processes. With increasing emphasis on environmental sustainability and circular economy principles, the market for succinic acid is poised for growth, driven by its versatility, eco-friendly profile, and potential applications in reducing reliance on fossil fuels.
The market report analyses the leading companies in the industry including BASF SE, Dow Chemicals, Ernesto Ventos S.A., GC Innovation America, Kawasaki Kasei Chemicals Ltd, Mitsubishi Chemical Corp, Parchem, The Chemical Company, and others.
A significant trend in the succinic acid market is the growing demand for sustainable and bio-based chemicals across various industries. This trend is driven by increasing environmental awareness, regulatory pressures, and the shift towards greener manufacturing processes. Succinic acid, a dicarboxylic acid derived from renewable feedstocks such as corn, sugarcane, and biomass, is gaining popularity as a sustainable alternative to petroleum-based chemicals in applications such as bioplastics, polymers, resins, and pharmaceuticals. As industries seek to reduce their carbon footprint and reliance on fossil fuels, the demand for succinic acid as a bio-based building block for green products and materials is expected to continue growing.
The primary driver for the succinic acid market is the versatility and functional properties of succinic acid in a wide range of end-use applications. Succinic acid offers advantages such as excellent solubility, biodegradability, and compatibility with other materials, making it suitable for diverse applications in industries such as chemicals, plastics, pharmaceuticals, and food and beverage. Succinic acid is used as a precursor for the production of biodegradable polymers such as polybutylene succinate (PBS), which find applications in packaging, textiles, and automotive components. Additionally, succinic acid is utilized in pharmaceutical formulations, personal care products, flavor enhancers, and food additives due to its low toxicity and regulatory approval as a food ingredient. As industries seek sustainable and cost-effective alternatives to conventional chemicals and materials, the demand for succinic acid as a versatile building block is expected to grow.
A significant opportunity for the succinic acid market lies in expansion into green chemistry and renewable energy applications, where succinic acid serves as a platform chemical for producing a wide range of bio-based products and fuels. With the global focus on reducing carbon emissions and transitioning towards renewable resources, there is a growing demand for succinic acid as a key intermediate in the synthesis of bio-based chemicals, fuels, and materials. Succinic acid can be converted into derivatives such as 1,4-butanediol (BDO), tetrahydrofuran (THF), and gamma-butyrolactone (GBL), which are used in the production of biodegradable plastics, synthetic fibers, and solvent applications. Additionally, succinic acid can be biochemically converted into succinate salts and then further processed into biofuels such as bioethanol and biobutanol. By leveraging its unique properties and renewable sourcing, succinic acid can play a vital role in the development of sustainable solutions for green chemistry and renewable energy, thus creating new opportunities for market expansion and innovation.
Within the Succinic Acid Market segmented by type, the Bio-based segment is the largest, driven by increasing environmental concerns, regulatory support for sustainable alternatives, and growing demand for bio-based chemicals. Bio-based succinic acid is derived from renewable feedstocks such as corn, sugarcane, and wheat, through fermentation processes using microorganisms. Unlike petro-based succinic acid, which relies on fossil fuel feedstocks and contributes to carbon emissions, bio-based succinic acid offers a more sustainable and environmentally friendly alternative. Additionally, bio-based succinic acid exhibits similar chemical properties and performance characteristics to its petro-based counterpart, making it suitable for a wide range of applications such as bioplastics, pharmaceuticals, food additives, and polyesters. As industries increasingly shift towards renewable and biodegradable alternatives to reduce their carbon footprint and comply with sustainability targets, the Bio-based segment continues to dominate the succinic acid market, driving innovation and expansion in the bio-based chemicals sector.
Within the Succinic Acid Market segmented by end-user, the Coatings segment is the fastest-growing, driven by the increasing demand for eco-friendly and sustainable alternatives in the coatings industry. Succinic acid is widely used as a raw material in the production of biodegradable and low-VOC (volatile organic compound) coatings and resins. These coatings offer advantages such as improved durability, adhesion, and corrosion resistance while minimizing environmental impact. As regulations become stricter regarding emissions and chemical usage, the coatings industry is transitioning towards greener solutions, thereby boosting the demand for succinic acid. Additionally, the versatility of succinic acid enables its incorporation into various types of coatings, including architectural coatings, automotive coatings, and industrial coatings, further expanding its application scope. Moreover, advancements in succinic acid production technology and increasing consumer awareness of sustainable coatings contribute to the rapid growth of the Coatings segment in the succinic acid market. As industries strive to achieve sustainability goals and meet stringent regulatory requirements, the Coatings segment is expected to continue driving growth and innovation in the succinic acid market.
By Type
Petro-based
Bio-based
By End-User
Food & Beverages
Pharmaceutical
Coatings
Industrial
Personal Care & Cosmetics
Others
Countries Analyzed
North America (US, Canada, Mexico)
Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, South East Asia, Rest of Asia)
South America (Brazil, Argentina, Rest of South America)
Middle East and Africa (Saudi Arabia, UAE, Rest of Middle East, South Africa, Egypt, Rest of Africa)
BASF SE
Dow Chemicals
Ernesto Ventos S.A.
GC Innovation America
Kawasaki Kasei Chemicals Ltd
Mitsubishi Chemical Corp
Parchem
The Chemical Company
*- List Not Exhaustive
TABLE OF CONTENTS
1 Introduction to 2024 Succinic Acid Market
1.1 Market Overview
1.2 Quick Facts
1.3 Scope/Objective of the Study
1.4 Market Definition
1.5 Countries and Regions Covered
1.6 Units, Currency, and Conversions
1.7 Industry Value Chain
2 Research Methodology
2.1 Market Size Estimation
2.2 Sources and Research Methodology
2.3 Data Triangulation
2.4 Assumptions and Limitations
3 Executive Summary
3.1 Global Succinic Acid Market Size Outlook, $ Million, 2021 to 2032
3.2 Succinic Acid Market Outlook by Type, $ Million, 2021 to 2032
3.3 Succinic Acid Market Outlook by Product, $ Million, 2021 to 2032
3.4 Succinic Acid Market Outlook by Application, $ Million, 2021 to 2032
3.5 Succinic Acid Market Outlook by Key Countries, $ Million, 2021 to 2032
4 Market Dynamics
4.1 Key Driving Forces of Succinic Acid Industry
4.2 Key Market Trends in Succinic Acid Industry
4.3 Potential Opportunities in Succinic Acid Industry
4.4 Key Challenges in Succinic Acid Industry
5 Market Factor Analysis
5.1 Value Chain Analysis
5.2 Competitive Landscape
5.2.1 Global Succinic Acid Market Share by Company (%), 2023
5.2.2 Product Offerings by Company
5.3 Porter’s Five Forces Analysis
5.4 Pricing Analysis and Outlook
6 Growth Outlook Across Scenarios
6.1 Growth Analysis-Case Scenario Definitions
6.2 Low Growth Scenario Forecasts
6.3 Reference Growth Scenario Forecasts
6.4 High Growth Scenario Forecasts
7 Global Succinic Acid Market Outlook by Segments
7.1 Succinic Acid Market Outlook by Segments, $ Million, 2021- 2032
By Type
Petro-based
Bio-based
By End-User
Food & Beverages
Pharmaceutical
Coatings
Industrial
Personal Care & Cosmetics
Others
8 North America Succinic Acid Market Analysis and Outlook To 2032
8.1 Introduction to North America Succinic Acid Markets in 2024
8.2 North America Succinic Acid Market Size Outlook by Country, 2021-2032
8.2.1 United States
8.2.2 Canada
8.2.3 Mexico
8.3 North America Succinic Acid Market size Outlook by Segments, 2021-2032
By Type
Petro-based
Bio-based
By End-User
Food & Beverages
Pharmaceutical
Coatings
Industrial
Personal Care & Cosmetics
Others
9 Europe Succinic Acid Market Analysis and Outlook To 2032
9.1 Introduction to Europe Succinic Acid Markets in 2024
9.2 Europe Succinic Acid Market Size Outlook by Country, 2021-2032
9.2.1 Germany
9.2.2 France
9.2.3 Spain
9.2.4 United Kingdom
9.2.4 Italy
9.2.5 Russia
9.2.6 Norway
9.2.7 Rest of Europe
9.3 Europe Succinic Acid Market Size Outlook by Segments, 2021-2032
By Type
Petro-based
Bio-based
By End-User
Food & Beverages
Pharmaceutical
Coatings
Industrial
Personal Care & Cosmetics
Others
10 Asia Pacific Succinic Acid Market Analysis and Outlook To 2032
10.1 Introduction to Asia Pacific Succinic Acid Markets in 2024
10.2 Asia Pacific Succinic Acid Market Size Outlook by Country, 2021-2032
10.2.1 China
10.2.2 India
10.2.3 Japan
10.2.4 South Korea
10.2.5 Indonesia
10.2.6 Malaysia
10.2.7 Australia
10.2.8 Rest of Asia Pacific
10.3 Asia Pacific Succinic Acid Market size Outlook by Segments, 2021-2032
By Type
Petro-based
Bio-based
By End-User
Food & Beverages
Pharmaceutical
Coatings
Industrial
Personal Care & Cosmetics
Others
11 South America Succinic Acid Market Analysis and Outlook To 2032
11.1 Introduction to South America Succinic Acid Markets in 2024
11.2 South America Succinic Acid Market Size Outlook by Country, 2021-2032
11.2.1 Brazil
11.2.2 Argentina
11.2.3 Rest of South America
11.3 South America Succinic Acid Market size Outlook by Segments, 2021-2032
By Type
Petro-based
Bio-based
By End-User
Food & Beverages
Pharmaceutical
Coatings
Industrial
Personal Care & Cosmetics
Others
12 Middle East and Africa Succinic Acid Market Analysis and Outlook To 2032
12.1 Introduction to Middle East and Africa Succinic Acid Markets in 2024
12.2 Middle East and Africa Succinic Acid Market Size Outlook by Country, 2021-2032
12.2.1 Saudi Arabia
12.2.2 UAE
12.2.3 Oman
12.2.4 Rest of Middle East
12.2.5 Egypt
12.2.6 Nigeria
12.2.7 South Africa
12.2.8 Rest of Africa
12.3 Middle East and Africa Succinic Acid Market size Outlook by Segments, 2021-2032
By Type
Petro-based
Bio-based
By End-User
Food & Beverages
Pharmaceutical
Coatings
Industrial
Personal Care & Cosmetics
Others
13 Company Profiles
13.1 Company Snapshot
13.2 SWOT Profiles
13.3 Products and Services
13.4 Recent Developments
13.5 Financial Profile
BASF SE
Dow Chemicals
Ernesto Ventos S.A.
GC Innovation America
Kawasaki Kasei Chemicals Ltd
Mitsubishi Chemical Corp
Parchem
The Chemical Company
14 Appendix
14.1 Customization Offerings
14.2 Subscription Services
14.3 Related Reports
14.4 Publisher Expertise
By Type
Petro-based
Bio-based
By End-User
Food & Beverages
Pharmaceutical
Coatings
Industrial
Personal Care & Cosmetics
Others
Countries Analyzed
North America (US, Canada, Mexico)
Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, South East Asia, Rest of Asia)
South America (Brazil, Argentina, Rest of South America)
Middle East and Africa (Saudi Arabia, UAE, Rest of Middle East, South Africa, Egypt, Rest of Africa)
Global Succinic Acid Market Size is valued at $285.3 Million in 2024 and is forecast to register a growth rate (CAGR) of 10.2% to reach $620.5 Million by 2032.
Emerging Markets across Asia Pacific, Europe, and Americas present robust growth prospects.
BASF SE, Dow Chemicals, Ernesto Ventos S.A., GC Innovation America, Kawasaki Kasei Chemicals Ltd, Mitsubishi Chemical Corp, Parchem, The Chemical Company
Base Year- 2023; Estimated Year- 2024; Historic Period- 2018-2023; Forecast period- 2024 to 2032; Currency: Revenue (USD); Volume