The global succinic acid market is expected to rise with an impressive CAGR and generate the highest revenue by 2026. Fortune Business Insights™ in its latest report published this information. The report is titled “Succinic Acid Market Size, Share & Industry Analysis, By Type (Bio-Based, Petro-Based), By Application (Food & Beverage, Industrial Chemicals, Pharmaceuticals, Others) and Regional Forecast, 2019-2026”. The report discusses research objectives, research scope, methodology, timeline and challenges during the entire forecast period. It also offers an exclusive insight into various details such as revenues, market share, strategies, growth rate, product & their pricing by region/country for all major companies.
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The report provides a 360-degree overview of the market, listing various factors restricting, propelling, and obstructing the market in the forecast duration. The report also provides additional information such as interesting insights, key industry developments, detailed segmentation of the market, list of prominent players operating in the market, and other succinic acid market trends. The report is available for sale on the company website.
List of prominent companies that are operating in the global Succinic Acid Market are:
- The Mitsubishi Chemical Holdings Corporation Group
- Nippon Shokubai Co. Ltd.
- ESIM Chemicals GmbH
- Succinity GmbH
- Novomer Inc.
- Kawasaki Kesai Chemicals Ltd.
- Global Chemical Public Company Limited
- Roquette Freres
- BASF SE
As succinic acid has been deemed as safe and eco-friendly by the US FDA, it is becoming popular in the food industry owing to its ability to regulate acidity in foodstuffs. It is also utilized as a flavouring agent, providing sourness and astringency to foods and beverages.
Environmental Benefits of Succinic Acid to Fuel the Market
Succinic acid is emerging as a crucial clean energy source and is increasingly employed in the chemical industry, which traditionally has relied on fossil fuel-based energy production. According to a report by the European Commission, bio-based succinic acid can effectively replace fossil fuel-derived chemicals in the long run as the acid can be converted into various chemicals and other products. This is raising the global succinic acid market potential as the importance of achieving development through sustainable means is gathering momentum in government and industry circles.
Government support and private sector investment is expected to make eco-friendly production of succinic acid commercially viable, propelling the global succinic acid market revenue. Furthermore, the US Food and Drug Administration (FDA) has identified succinic acid as a high-value chemical that can be derived through fermentation of biomass, given the fact that this acid is produced naturally in living cells.
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Regional Analysis for Succinic Acid Market:
- North America (the USA and Canada)
- Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico and Rest of Latin America)
- Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)
Major Table of Contents for Succinic Acid Market:
- Executive Summary
- Market Dynamics
- Key Succinic Acid Market Insights
- Global Market Analysis, Insights and Forecast, 2015-2026
- North America Market Analysis, Insights and Forecast, 2015-2026
- Europe Market Analysis, Insights and Forecast, 2015-2026
- Asia Pacific Market Analysis, Insights and Forecast, 2015-2026
- The Middle East and Africa Market Analysis, Insights and Forecast, 2015-2026
- Latin America Market Analysis, Insights and Forecast, 2015-2026
- Competitive Landscape
- Global Succinic Acid Market Revenue Share Analysis, By Key Players, 2020
- Company Profiles
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