Succinic Acid Industry Insights | Market Status and Specification | Forecast To 2022
“Global Succinic Acid Market report includes in-depth analysis of industry by recent technologies, trends, opportunities, challenges, key players and business strategies considering types, segment and future outlook.�
The global Succinic Acid Market size is expected to value at USD 237.8 million by 2022. The succinic acid industry is subject to witness a substantial growth due to the substantial demand from various application verticals such as 1,4 butanediol, pharmaceuticals, and polyurethanes. Rapid growth of building &construction sector and automotive industry, particularly in the Asia Pacific region is expected to foster market growth over the forecast period. High-end demand for production of resin, coating, and polyurethanes is positively affecting market growth as well. Succinic acid is considered as primary building block for the production of polyurethanes, resins, polybutylene succinate (PBS) and plasticizers. Succinic acid acts as a precursor for chemicals such as 1,4 butanediol (BDO). Globally, the succinic acid market is predicted to grow at CAGR of 12% in the forecast period, providing numerous opportunities for market players to invest for research and development in the market. However, volatility in the cost of crude oil price and limited availability of raw materials are expected to hamper market growth to a certain extent over the coming years. Request Sample Copy of this Market Research @ https://www.millioninsights.com/industry-reports/succinic-acid-market/request-sample