Succinic Acid

Global Succinic Acid Market to Reach US$235.9 Million by 2030

The global market for Succinic Acid estimated at US$173.1 Million in the year 2024, is expected to reach US$235.9 Million by 2030, growing at a CAGR of 5.3% over the analysis period 2024-2030. Petro-based, one of the segments analyzed in the report, is expected to record a 5.8% CAGR and reach US$152.0 Million by the end of the analysis period. Growth in the Bio-based segment is estimated at 4.5% CAGR over the analysis period.

The U.S. Market is Estimated at US$46.0 Million While China is Forecast to Grow at 8.8% CAGR

The Succinic Acid market in the U.S. is estimated at US$46.0 Million in the year 2024. China, the world`s second largest economy, is forecast to reach a projected market size of US$52.0 Million by the year 2030 trailing a CAGR of 8.8% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 1.6% and 5.8% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.7% CAGR.

Succinic Acid - Key Trends and Drivers

Succinic acid, a dicarboxylic acid with the chemical formula C4H6O4, is a valuable intermediate in the synthesis of numerous chemicals and products. It naturally occurs in living organisms as a key component of the citric acid cycle, crucial for cellular respiration. Industrial production of succinic acid can be achieved through traditional petrochemical processes or more sustainable methods like the fermentation of glucose by microorganisms. The latter method, bio-based production, is gaining traction due to its lower environmental impact and alignment with green chemistry principles. Succinic acid`s versatility extends across various industries, serving as a precursor to compounds such as butanediol, tetrahydrofuran, and various polyesters. Additionally, it is used as a food additive, flavoring agent, and pH regulator, showcasing its broad utility in multiple sectors.

The applications of succinic acid are extensive and diverse, underscoring its industrial significance. In the polymer industry, succinic acid is pivotal in producing biodegradable plastics and polyurethanes, offering eco-friendly alternatives to traditional petrochemical-based plastics. These biodegradable plastics are increasingly important as industries and consumers seek sustainable solutions to reduce environmental pollution. Succinic acid also plays a vital role in manufacturing solvents, lubricants, and coatings, enhancing the performance and sustainability of these products. In agriculture, succinic acid is used in fertilizers and soil conditioners, improving crop yield and soil health by enhancing nutrient availability and promoting beneficial microbial activity. The food and beverage industry leverages succinic acid as an acidity regulator and flavor enhancer, contributing to the taste, texture, and stability of various products. In the pharmaceutical sector, succinic acid is used in drug formulation and dietary supplements, capitalizing on its biochemical properties to enhance efficacy and stability.

The growth in the succinic acid market is driven by several factors. Advancements in fermentation processes have significantly improved the efficiency and yield of bio-based succinic acid production, making it more cost-competitive with traditional petrochemical methods. This shift towards sustainable production is supported by stringent environmental regulations and a growing consumer preference for eco-friendly products. The rising demand for biodegradable plastics and green solvents in various industries, including packaging, automotive, and consumer goods, is a major driver of market expansion. As industries strive to reduce their environmental footprint, the adoption of succinic acid-based solutions is accelerating. Additionally, the expanding agricultural sector, driven by the need to increase food production and improve soil health, is boosting demand for succinic acid-based fertilizers and soil conditioners. The pharmaceutical and food industries also contribute to the market`s growth, with ongoing product development and innovation driving the need for high-purity succinic acid. These trends indicate a robust and growing market for succinic acid, supported by continuous innovations and the expanding scope of its applications across various sectors.

SCOPE OF STUDY:

The report analyzes the Succinic Acid market in terms of units by the following Segments, and Geographic Regions/Countries:

Segments:
Type (Petro-Based, Bio-Based); End-Use (Industrial, Coatings, Food & Beverages, Cosmetics, Other End-Uses)

Geographic Regions/Countries:
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

Select Competitors (Total 22 Featured) -

• Air Water Performance Chemical Inc.
• Anqing He Xing Chemical Corporation Ltd.
• BASF Corporation
• BioAmber, Inc.
• Biosynth AG
• Chemceed
• Corbion NV
• Fisher Scientific Company, L.L.C.
• Hampton Research
• Kawasaki Kasei Chemicals Ltd.

TARIFF IMPACT FACTOR

Our new release incorporates impact of tariffs on geographical markets as we predict a shift in competitiveness of companies based on HQ country, manufacturing base, exports and imports (finished goods and OEM). This intricate and multifaceted market reality will impact competitors by artificially increasing the COGS, reducing profitability, reconfiguring supply chains, amongst other micro and macro market dynamics.

We are diligently following expert opinions of leading Chief Economists (14,949), Think Tanks (62), Trade & Industry bodies (171) worldwide, as they assess impact and address new market realities for their ecosystems. Experts and economists from every major country are tracked for their opinions on tariffs and how they will impact their countries.

We expect this chaos to play out over the next 2-3 months and a new world order is established with more clarity. We are tracking these developments on a real time basis.

As we release this report, U.S. Trade Representatives are pushing their counterparts in 183 countries for an early closure to bilateral tariff negotiations. Most of the major trading partners also have initiated trade agreements with other key trading nations, outside of those in the works with the United States. We are tracking such secondary fallouts as supply chains shift.

To our valued clients, we say, we have your back. We will present a simplified market reassessment by incorporating these changes!

APRIL 2025: NEGOTIATION PHASE

Our April release addresses the impact of tariffs on the overall global market and presents market adjustments by geography. Our trajectories are based on historic data and evolving market impacting factors.

JULY 2025 FINAL TARIFF RESET

Complimentary Update: Our clients will also receive a complimentary update in July after a final reset is announced between nations. The final updated version incorporates clearly defined Tariff Impact Analyses.

Reciprocal and Bilateral Trade & Tariff Impact Analyses:

USA
CHINA
MEXICO
CANADA
EU
JAPAN
INDIA
176 OTHER COUNTRIES.

Leading Economists - Our knowledge base tracks 14,949 economists including a select group of most influential Chief Economists of nations, think tanks, trade and industry bodies, big enterprises, and domain experts who are sharing views on the fallout of this unprecedented paradigm shift in the global econometric landscape. Most of our 16,491+ reports have incorporated this two-stage release schedule based on milestones.

Please note: Reports are sold as single-site single-user licenses. Electronic versions require 24-48 hours as each copy is customized to the client with digital controls and custom watermarks. The Publisher uses digital controls protecting against copying and printing is restricted to one full copy to be used at the same location.

The latest version of Adobe Acrobat Reader is required to view the report. Upon ordering an electronic version, the Publisher will provide a link to download the purchased report.

Prior to fulfillment of an order, the client will be required to sign a document detailing the purchase terms for a publication from this publisher.