Global Succinic Acid Market to Reach US$200.2 Million by the Year 2027
Amid the COVID-19 crisis, the global market for Succinic Acid estimated at US$136.5 Million in the year 2020, is projected to reach a revised size of US$200.2 Million by 2027, growing at a CAGR of 5.6% over the period 2020-2027.Petro-based, one of the segments analyzed in the report, is projected to grow at a 6.1% CAGR to reach US$128.9 Million by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Bio-based segment is readjusted to a revised 4.9% CAGR for the next 7-year period. This segment currently accounts for a 37.5% share of the global Succinic Acid market.
The U.S. Accounts for Over 27.1% of Global Market Size in 2020, While China is Forecast to Grow at a 8.7% CAGR for the Period of 2020-2027
The Succinic Acid market in the U.S. is estimated at US$37 Million in the year 2020. The country currently accounts for a 27.08% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$42.2 Million in the year 2027 trailing a CAGR of 8.7% through 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3% and 5.1% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3.5% CAGR while Rest of European market (as defined in the study) will reach US$42.2 Million by the year 2027.We bring years of research experience to this 15th edition of our report. The 262-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.
-Competitors identified in this market include, among others,
- Anhui Sunsing Chemicals Co. Ltd
- Anqing He Xing Chemical Corporation Ltd.
- BASF SE
- BioAmber Inc.
- Gadiv Petrochemical Industries Ltd.
- Kawasaki Kasei Chemicals Ltd.
- Linyi Lixing Chemical Co. Ltd.
- Mitsui & Co. Ltd.
- Nippon Shokubai Co.,
- Reverdia Ltd.
- Succinity GmbH