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By Type;
Bio-Based Succinic Acid and Petro-Based Succinic AcidBy End Use Industry;
Industrial, Food & Beverages, Coatings and PharmaceuticalBy Geography;
North America, Europe, Asia Pacific, Middle East & Africa and Latin America - Report Timeline (2021 - 2031)Succinic Acid Market Overview
Succinic Acid Market (USD Million)
Succinic Acid Market was valued at USD 188.77 million in the year 2024. The size of this market is expected to increase to USD 309.12 million by the year 2031, while growing at a Compounded Annual Growth Rate (CAGR) of 7.3%.
Succinic Acid Market
*Market size in USD million
CAGR 7.3 %
| Study Period | 2025 - 2031 |
|---|---|
| Base Year | 2024 |
| CAGR (%) | 7.3 % |
| Market Size (2024) | USD 188.77 Million |
| Market Size (2031) | USD 309.12 Million |
| Market Concentration | Medium |
| Report Pages | 309 |
Major Players
- Anqing Hexing Chemical Co., Ltd.
- BASF SE
- Gadiv Petrochemical Industries Limited
- BioAmber
- DSM
- Kawasaki Kasei Chemicals
- Misubishi Chemical Corporation
- Mitsui & Co.Ltd.
- Myriant Technologies
- Nippon Shokubai Co.Ltd.
- PTT Global Chemical Public Co.Ltd.
- Purac Biochem
- Reverdia
Market Concentration
Consolidated - Market dominated by 1 - 5 major players
Succinic Acid Market
Fragmented - Highly competitive market without dominant players
The Succinic Acid Market is witnessing strong momentum driven by its expanding applications in biodegradable plastics, food additives, and pharmaceuticals. The shift toward sustainable and eco-friendly products has significantly increased the adoption of bio-based succinic acid, with nearly 45% of total production now relying on renewable feedstocks. This trend underscores the market’s role in advancing green chemistry solutions across industries.
Growing Demand from Bioplastics
Rising environmental concerns and restrictions on conventional plastics are boosting the use of succinic acid in manufacturing polybutylene succinate (PBS) and other biodegradable polymers. Currently, more than 35% of global bioplastic output integrates succinic acid, showcasing its vital role in the sustainable packaging and automotive sectors.
Pharmaceutical and Personal Care Applications
In pharmaceuticals, succinic acid serves as an intermediate for API synthesis and is incorporated into treatments for inflammation, pain, and metabolic disorders. Its use in cosmetics and personal care has also grown, with almost 25% of production directed toward skincare and anti-aging formulations, reflecting increased demand for natural ingredients in wellness-focused markets.
Market Outlook and Innovation Potential
Continuous advancements in fermentation technologies and cost-efficient production are driving the competitiveness of bio-based succinic acid. Strategic collaborations and R&D investments are further accelerating adoption, positioning succinic acid as a cornerstone for bio-based chemicals that align with the global sustainability agenda.
Succinic Acid Market Recent Developments
- In 2019, BASF SE launched a novel technique based on crude glycerol and whey permeate for effective succinic acid synthesis
- In August 2021, LCY Biosciences, a leading name in succinic acid production, announced that it is producing 18 KT of bio-based succinic acid at a plant in Sarnia, Ontario, Canada. The plant was previously owned by BioAmber and produced 8 KT at the time
Segment Analysis
The global succinic acid market can be segmented by type into petro-based and bio-based variants. Petro-based succinic acid has traditionally dominated the market due to its cost-effectiveness and established supply chain. However, increasing environmental concerns and a shift towards sustainable solutions have propelled the growth of bio-based succinic acid. This bio-based segment is gaining traction, especially in regions with stringent environmental regulations and consumer demand for green products.
By application, succinic acid serves diverse industries such as 1, 4-butanediol production, resins, coatings, dyes and inks, pharmaceuticals, polyurethanes, food, plasticizers, cosmetics, solvents and lubricants, and de-icing solutions. Among these, 1, 4-butanediol is a key application, driven by its use in manufacturing biodegradable plastics and other industrial materials. The food and beverage sector also represents a significant share, leveraging succinic acid as an acidulant and flavor enhancer. The expanding pharmaceutical industry utilizes succinic acid for drug formulations and as an excipient.
The end-use industries for succinic acid are industrial, food and beverage, coatings, and pharmaceuticals. The industrial segment commands a large share owing to the use of succinic acid in manufacturing materials like polyurethanes and resins. The food and beverage sector's growth is attributed to increasing demand for preservatives and flavor enhancers. The pharmaceutical industry is another critical driver due to its reliance on succinic acid for drug synthesis and medical applications, while the coatings segment benefits from its role in enhancing durability and finish.
Geographically, the market is segmented into North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. Asia Pacific dominates the market due to rapid industrialization, robust manufacturing sectors, and high demand for bio-based chemicals. Europe is also a key market, driven by stringent environmental policies promoting bio-based solutions. North America follows closely, supported by advancements in bio-based succinic acid production technologies. The Middle East and Africa and Latin America present emerging opportunities, with increasing investment in sustainable industries and expanding industrial applications.
Global Succinic Acid Segment Analysis
In this report, the Global Succinic Acid Market has been segmented by Type, Application, End-Use Industry and Geography.
Global Succinic Acid Market, Segmentation by Type
The Global Succinic Acid Market has been segmented by Type into Petro-based and Bio-based.
The global succinic acid market is divided into two primary types: petro-based and bio-based succinic acid. Petro-based succinic acid is derived from fossil fuels and has been the traditional method of production. It is often favored for its established production processes and scalability, making it a cost-effective option for various industrial applications. This form of succinic acid is commonly used in the production of plastics, solvents, and food additives, owing to its versatile chemical properties.
On the other hand, bio-based succinic acid is gaining traction due to the increasing demand for sustainable and eco-friendly products. Derived from renewable resources such as plant materials, bio-based succinic acid offers a greener alternative to its petrochemical counterpart. Its production process typically involves fermentation using microorganisms, which not only reduces the carbon footprint but also aligns with global trends towards sustainability and circular economy practices. This type of succinic acid is increasingly being utilized in bioplastics, biodegradable products, and various pharmaceutical applications, reflecting a shift in consumer preferences towards environmentally friendly solutions.
Overall, the succinic acid market is experiencing significant growth, driven by the rising awareness of sustainability and the demand for bio-based products. As industries continue to explore alternatives to traditional petrochemical products, the bio-based segment is expected to expand further, fostering innovation and investment in greener production technologies.
Global Succinic Acid Market, Segmentation by Application
The Global Succinic Acid Market has been segmented by Application into 1, 4-Butanediol, Resins, Coatings, Dyes & Inks, Pharmaceuticals, Polyurethanes, Food, Plasticizers, Cosmetics, Solvents & Lubricants and De-icing Solutions.
The global succinic acid market is experiencing significant growth due to its diverse applications across various industries. Succinic acid, a key renewable chemical, is increasingly being recognized for its versatility and environmental benefits. With the rise of sustainable practices, the demand for succinic acid is anticipated to expand as industries seek bio-based alternatives to traditional petrochemical products.
One of the primary applications of succinic acid is in the production of 1,4-Butanediol (BDO), a crucial intermediate in the manufacture of plastics, fibers, and elastomers. The BDO market's growth directly influences the demand for succinic acid, as it serves as a key building block. In the resins and coatings sector, succinic acid plays a vital role in formulating eco-friendly materials. Its use in this application supports the trend towards sustainable construction and automotive products, driving further adoption.
The dyes and inks industry also utilizes succinic acid due to its ability to enhance the performance and stability of formulations. This application underscores the compound's importance in various creative and industrial processes. In pharmaceuticals, succinic acid is increasingly recognized for its potential in drug formulation and delivery systems. Its biocompatibility and low toxicity make it a favorable choice for medical applications, contributing to market growth in this sector.
Succinic acid's role in producing polyurethanes highlights its significance in manufacturing flexible foams, adhesives, and sealants, which are vital in construction and automotive industries. This versatility ensures a steady demand from multiple sectors. The food industry leverages succinic acid as a food additive and preservative, further expanding its market reach. Its applications in flavor enhancement and shelf-life extension appeal to manufacturers focused on quality and sustainability.
In plasticizers, succinic acid is increasingly utilized as a non-toxic alternative, making it a preferred choice for producing safer consumer products. This trend aligns with growing consumer awareness regarding health and environmental impacts. The use of succinic acid in cosmetics has gained traction, as it contributes to the formulation of skin care products and personal care items, driven by the demand for natural and sustainable ingredients.
Succinic acid serves important functions in solvents and lubricants, enhancing the performance of various industrial applications. Its incorporation into these products is driven by the pursuit of efficient and environmentally friendly solutions. Succinic acid's application in de-icing solutions presents a practical use case in winter maintenance, emphasizing its multifunctional nature and contributing to overall market growth.
Overall, the global succinic acid market is poised for robust growth, driven by its diverse applications across various industries. As the push for sustainability continues, succinic acid's role as a bio-based chemical will be instrumental in shaping the future of many sectors, ensuring its relevance in the evolving market landscape.
Global Succinic Acid Market, Segmentation by End-Use Industry
The Global Succinic Acid Market has been segmented by End-Use Industry into Industrial, Food & Beverage, Coatings, and Pharmaceutical.
The global succinic acid market is segmented by end-use industry into industrial, food and beverage, coatings, and pharmaceutical sectors. Each segment reflects distinct demands and applications of succinic acid, driven by its versatile properties and adaptability across industries.
In the industrial sector, succinic acid is widely used for producing biodegradable polymers, resins, and as a precursor to various chemicals. Its role in manufacturing bio-based plastics and polyurethanes aligns with the growing focus on sustainable and environmentally friendly solutions. The rising demand for green chemistry in industrial applications further propels the growth of this segment.
In the food and beverage industry, succinic acid serves as an acidity regulator, flavor enhancer, and preservative, ensuring product stability and extending shelf life. It finds applications in confectioneries, beverages, and processed foods due to its GRAS (Generally Recognized as Safe) status. Meanwhile, the pharmaceutical and coatings industries leverage succinic acid for its role in drug formulation, adhesives, and paints, benefiting from its non-toxic and biodegradable nature. This diversity in applications underpins the compound’s significance across multiple sectors.
Global Succinic Acid Market, Segmentation by Geography
In this report, the Global Succinic Acid Market has been segmented by Geography into five regions; North America, Europe, Asia Pacific, Middle East and Africa and Latin America.
Global Succinic Acid Market Share (%), by Geographical Region, 2024
The global succinic acid market is anticipated to witness significant growth from 2020 to 2030, driven by increasing demand across various industries such as pharmaceuticals, food and beverage, and bio-based chemicals. North America and Europe have traditionally been the largest markets due to strong industrial bases and regulatory support for sustainable products. The growing focus on eco-friendly alternatives is likely to bolster the market in these regions.
In the Asia Pacific, rapid industrialization and expanding manufacturing capabilities are expected to fuel demand for succinic acid. Countries like China and India are increasingly investing in bio-based chemicals, contributing to the region's growth. The Middle East and Africa are also emerging markets, with a rising interest in renewable resources and sustainable practices enhancing the adoption of succinic acid.
Latin America, while smaller in market share, presents opportunities for growth due to its agricultural sector's demand for bio-based products. Overall, the global succinic acid market is projected to expand significantly, with varied growth dynamics across different geographic regions over the next decade.
Market Trends
This report provides an in depth analysis of various factors that impact the dynamics of Global Succinic Acid Market. These factors include; Market Drivers, Restraints and Opportunities Analysis.
Drivers, Restraints and Opportunity Analysis
Drivers:
- Rising Demand
- Industrial Growth
- Regulatory Support
-
Market Expansion -The global succinic acid market has been experiencing significant expansion due to its versatile applications across various industries, including pharmaceuticals, food and beverages, biofuels, and biodegradable plastics. With growing awareness of sustainable practices and the increasing demand for eco-friendly alternatives, the market has seen a shift towards bio-based succinic acid production. Key players are investing in innovative production technologies, which not only enhance yield but also reduce environmental impact.
The rising trend of green chemistry has prompted manufacturers to seek bio-sourced chemicals, driving the demand for succinic acid as a building block for sustainable products. The pharmaceutical sector's need for succinic acid as an intermediate in drug synthesis also contributes to market growth. Additionally, the food and beverage industry utilizes succinic acid as a food additive and flavoring agent, further expanding its market reach.
Regions such as North America and Europe are leading the market due to established industrial bases and stringent regulations favoring green chemicals. However, the Asia-Pacific region is emerging as a significant growth area, fueled by rapid industrialization and increasing investment in bio-based chemical production. As a result, the global succinic acid market is poised for continued growth, driven by innovation, sustainability, and rising demand across multiple sectors.
Restraints:
- High Production Costs
- Market Competition
- Limited Awareness
-
Supply Chain Issues -The global succinic acid market has experienced significant growth due to its diverse applications in industries such as pharmaceuticals, food and beverages, and biodegradable plastics. However, the market faces several supply chain issues that can impact production and distribution. One major challenge is the reliance on raw materials, primarily derived from petroleum and renewable sources. Fluctuations in the availability and price of these raw materials can lead to supply disruptions and increased costs for manufacturers.
Geopolitical factors and trade policies can complicate the global supply chain. For instance, tariffs, trade restrictions, or export bans in key producing countries can hinder the smooth flow of succinic acid across borders. Transportation and logistics issues, exacerbated by the COVID-19 pandemic and ongoing global shipping challenges, further contribute to delays and increased lead times for suppliers.
The demand for sustainable and eco-friendly production methods has prompted many companies to invest in alternative sourcing strategies. However, transitioning to renewable feedstocks often requires significant capital investment and time, creating short-term supply constraints. Companies must navigate these complexities to ensure a reliable supply chain while meeting consumer demand for sustainability. Addressing these supply chain issues will be crucial for maintaining growth and competitiveness in the global succinic acid market.
Opportunities:
- New Applications
- Research & Development
- Market Diversification
-
Bio-based Products -The global succinic acid market is experiencing significant growth, driven by the increasing demand for bio-based products. Succinic acid, a versatile platform chemical, is derived from renewable resources and is used in various applications, including pharmaceuticals, biodegradable plastics, food additives, and solvents. The shift towards sustainable and eco-friendly products has prompted manufacturers to explore bio-based alternatives, positioning succinic acid as a key player in the green chemistry movement.
As environmental regulations tighten and consumer awareness of sustainability rises, industries are actively seeking bio-based solutions. Succinic acid fits this trend perfectly, as it can be produced from agricultural feedstocks through fermentation processes. This not only reduces reliance on fossil fuels but also helps in minimizing carbon footprints. Major players in the market are investing in research and development to optimize production methods and enhance yield, further driving the adoption of succinic acid in various sectors.
The rise of bioplastics is significantly impacting the succinic acid market. With an increasing emphasis on sustainable packaging solutions, companies are leveraging succinic acid's properties to produce biodegradable plastics that meet consumer demand for eco-friendly options. This trend is expected to propel the market forward, as industries seek to align with global sustainability goals and consumer preferences for greener products. Overall, the future of the global succinic acid market looks promising, underpinned by the growing shift toward bio-based innovations and sustainable practices.
Succinic Acid Market Competitive Landscape Analysis
Succinic Acid Market is experiencing steady growth, driven by its increasing demand across various industries such as pharmaceuticals, food and beverages, agriculture, and bio-based chemicals. Succinic acid, a naturally occurring dicarboxylic acid, is used in the production of biodegradable plastics, solvents, and additives, making it a key component in sustainable manufacturing processes. The annual growth rate is projected to be 8-9%.
Market Structure and Concentration
The succinic acid market is moderately concentrated, with a few major players leading the industry through advanced production technologies, sustainability initiatives, and strong research and development capabilities. Smaller companies are emerging with innovative solutions for niche applications in the bio-based chemical and pharmaceutical sectors. The top companies account for approximately 60-65% of the total market share.
Brand and Channel Strategies
Leading brands in the succinic acid market focus on product quality, sustainability, and cost-effectiveness to cater to the growing demand for eco-friendly industrial solutions. Companies are expanding their reach through direct sales, strategic partnerships with key industries such as automotive, agriculture, and pharmaceuticals, and global distribution networks. North America and Europe together represent approximately 50% of the market share.
Innovation Drivers and Technological Advancements
Technological advancements in the succinic acid market are driven by innovations in fermentation processes, bio-based production, and green chemistry techniques that improve production efficiency and reduce environmental impact. Companies are also focusing on developing high-purity succinic acid and advanced catalysts to enhance the sustainability of chemical processes. Investment in R&D has increased by 10-12% in the past year to optimize production methods and expand application areas.
Regional Momentum and Expansion
The succinic acid market is witnessing strong growth in Asia-Pacific, particularly in China and India, where industrialization and the increasing demand for sustainable chemicals are driving market expansion. The region is expected to grow at an annual rate of 9-10%, supported by growing investments in bio-based chemical production and rising demand for renewable energy and materials.
Future Outlook
The future of the succinic acid market looks promising, with continued demand driven by the rising adoption of bio-based and sustainable chemicals, growing applications in food, beverage, and pharmaceuticals, and increasing government support for green chemistry. Companies are expected to focus on innovation, expansion, and enhancing production processes for better cost and environmental efficiency. The market is projected to grow at a compound annual growth rate (CAGR) of 9-10% over the next five years.
Key players in Succinic Acid Market include.
- Anqing Hexing Chemical Co., Ltd.
- BASF SE
- Gadiv Petrochemical Industries Limited
- BioAmber
- DSM
- Kawasaki Kasei Chemicals
- Misubishi Chemical Corporation
- Mitsui & Co.Ltd.
- Myriant Technologies
- Nippon Shokubai Co.Ltd.
- PTT Global Chemical Public Co.Ltd.
- Purac Biochem
- Reverdia
In this report, the profile of each market player provides following information:
- Company Overview and Product Portfolio
- Key Developments
- Financial Overview
- Strategies
- Company SWOT Analysis
- Introduction
- Research Objectives and Assumptions
- Research Methodology
- Abbreviations
- Market Definition & Study Scope
- Executive Summary
- Market Snapshot, By Type
- Market Snapshot, By End Use Industry
- Market Snapshot, By Region
- Succinic Acid Market Dynamics
- Drivers, Restraints and Opportunities
- Drivers
- Rising Demand
- Industrial Growth
- Regulatory Support
- Market Expansion
- Restraints
- High Production Costs
- Market Competition
- Limited Awareness
- Supply Chain Issues
- Opportunities
- New Applications
- Research & Development
- Market Diversification
- Bio-based Products
- PEST Analysis
- Political Analysis
- Economic Analysis
- Social Analysis
- Technological Analysis
- Porter's Analysis
- Bargaining Power of Suppliers
- Bargaining Power of Buyers
- Threat of Substitutes
- Threat of New Entrants
- Competitive Rivalry
- Drivers
- Drivers, Restraints and Opportunities
- Market Segmentation
- Succinic Acid Market, By Type, 2021 - 2031 (USD Million)
- Bio-Based Succinic Acid
- Petro-Based Succinic Acid
- Succinic Acid Market, By End Use Industry, 2021 - 2031 (USD Million)
- Industrial
- Food & Beverages
- Coatings
- Pharmaceutical
- Succinic Acid Market, By Geography, 2021 - 2031 (USD Million)
- North America
- United States
- Canada
- Europe
- Germany
- United Kingdom
- France
- Italy
- Spain
- Nordic
- Benelux
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia & New Zealand
- South Korea
- ASEAN (Association of South East Asian Countries)
- Rest of Asia Pacific
- Middle East & Africa
- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- North America
- Succinic Acid Market, By Type, 2021 - 2031 (USD Million)
- Competitive Landscape
- Company Profiles
- Anqing Hexing Chemical Co., Ltd.
- BASF SE
- Gadiv Petrochemical Industries Limited
- BioAmber
- DSM
- Kawasaki Kasei Chemicals
- Misubishi Chemical Corporation
- Mitsui & Co.Ltd.
- Myriant Technologies
- Nippon Shokubai Co.Ltd.
- PTT Global Chemical Public Co.Ltd.
- Purac Biochem
- Reverdia
- Company Profiles
- Analyst Views
- Future Outlook of the Market