Succinic acid is a dicarboxylic acid which is used a chemical intermediate in medicine, to make perfume esters and for the manufacture of lacquers. The name is derived from the latin word succinum meaning amber and is also known as ‘spirit of amber’. They have many biological roles in living organisms as they take the form of an anion which is a component of citric acid and which are capable of donating electron to the electron transfer chain. They are also used as a flavouring agent in foods and beverages and also as a intermediates for dyes, lacquers, metal treatment chemicals etc.
Analysis of Global Succinic Acid Market report:
Global Succinic Acid Market is expected to rise from its initial estimated value of USD 130.65 million in 2018 to an estimated value of USD 223.97 million by 2026, registering a CAGR of 6.97% in the forecast period of 2019-2026. Growth in food & beverage, industrial, and pharmaceutical industries are the major factor for the growth of this market.
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· They are used in the manufacturing of sedatives, antipasmers, anrhoers, contraceptives and cancer-curing treatments.
· In food & beverage industry they are used as an acidifier.
· The R&D cost for the succinic acid is very high which the major factor restraining growth of the market
Leading Key players profiled in this report are:
Few of the major competitors currently working in succinic acid market are Anhui Sunsing Chemicals Co., Ltd., an qing he xing chemical corporation limited., BioAmber, GC Innovation America, Gadiv Petrochemical Industries Ltd., KAWASAKI KASEI CHEMICALS, NIPPON SHOKUBAI CO., LTD., Reverdia, Shangdong Yuhang Chemical Co.,Ltd., Shangdong Lixing Chemical Co.,Ltd, Spectrum Chemical Manufacturing Corporation., Thirumalai Chemicals Ltd., Mitsubishi Chemical Holdings Corporations.
Global Succinic Acid Market Segmentation:
· Bio- Based Succinic Acid
· Petro- Based Succinic Acid
By End- Use
· Food & Beverages
· North America
· South America
Company Share Analysis:
Global succinic acid market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of succinic acid market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
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The Global Succinic Acid Market report provides the global market size of the main players in each region. Moreover, the report provides knowledge of the leading markets players within the Global Succinic Acid Market. The industry changing factors for the market segments are explored in this report. This analysis report covers the growth factors of the worldwide market based on end-users. Market opportunities and recommendations for new investments are also encompassed in this report.
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