SAN FRANCISCO, October 19, 2015 /PRNewswire/ --
The global succinic acid market is expected to reach USD 237.8 million by 2022, according to a new report by Grand View Research, Inc. Rising need in various application segments including 1,4 butanediol, pharmaceuticals, and polyurethanes is expected to result in considerable share for the product over the next seven years. Healthcare sector growth on account of rising health awareness among consumers in emerging economies of Asia Pacific is expected to have a positive impact on the industry over the forecast period.
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Fluctuation of raw material prices, fuel, and energy costs are expected to hamper overall cost of the product, which in turn is expected to challenge demand. In addition, major companies are focusing on the manufacturing of the product through bio-based routes. This is expected to restrain growth over the forecast period.
Browse full research report with TOC on "Succinic Acid Market Analysis By Application (1,4 BDO, Resins, Coatings, Dyes & Inks, Pharmaceuticals, Polyurethanes, Food, Plasticizers, Cosmetics, Solvents & Lubricants, De-icing Solutions) And Segment Forecasts to 2022" at: http://www.grandviewresearch.com/industry-analysis/succinic-acid-market
Growing political and regulatory pressures on chemical companies to reduce carbon emissions coupled with growing concerns over depleting fossil fuel reserves have led to bio-based succinic acid development, which will act as a drop in replacement for the product, thus restricting growth.
Further key findings from the report suggest:
Grand View Research has segmented the global succinic acid market on the basis of application and region:
Browse related reports by Grand View Research:
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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