Published by Coherent Market Insights
Posted on October 8, 2021
2 min readLast updated: January 30, 2026
The succinic acid market is expected to reach USD 182.8 million by 2023, with a CAGR of 6.8%. Growth is driven by pharmaceutical applications, especially in Asia Pacific and North America.
Succinic Acid Market Size Is Usd 182.8 Million By 2023, At A Cagr Of 6.8%
Succinic acid, also known as succinate is present in the tissues of animals and plants, where it plays a key role in the metabolic process. The name succinic acid is derived from the Latin ‘succinum’, meaning amber, and earlier it was also known as “spirit of amber.” Succinic acid is either extracted from amber, manufactured synthetically or prepared through a fermentation process. Succinic acid is used as a supplement to treat arthritis and other pain as well as the hot flashes and irritability associated with menopause. Succinic is also used to some extent in the textile industry for shrink proofing wool and as a modifier for various processes such as improving dyeing ability of polyester resin, improving fire resistance, viscosity and stability of caprolactum.
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Succinic Acid Market Outlook – Increasing Pharmaceutical Applications to be the Major Market Driver
Asia Pacific and North America are expected to be the most potential markets for plastic additives manufacturers. Asia Pacific is projected to witness relatively high growth in terms of value over the forecast period. This is mainly attributed to the anticipated growth in pharmaceutical industry, especially in developing countries such as China and India. According to IBEF, US$ 55 billion will be generated by the Indian pharmaceutical industry by 2026.
biodegradable plastics, nylons, dyes & pigments, phthalate-free plasticizers and pharmaceutical compounds. Some of the major companies operating in the global succinic acid market include Mitsubishi Chemical Holdings, Kawasaki Kasei Chemicals Ltd., BioAmber, Myriant , Reverdia (Netherlands), Succinity, Nippon Shokubai, , Linyi Lixing Chemical Co., Ltd, , Anhui Sunsing Chemicals, and Gadiv Petrochemical Industries Ltd.
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The post Succinic Acid Market Size Is Usd 182.8 Million By 2023, At A Cagr Of 6.8% | Succinity, Nippon Shokubai, appeared first on Gatorledger.
The main topic is the growth and forecast of the succinic acid market, expected to reach USD 182.8 million by 2023.
Key growth drivers include increasing pharmaceutical applications and demand in biodegradable plastics.
Asia Pacific and North America are expected to see the most growth in the succinic acid market.
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