The global Succinic acid market size was valued at USD 245.4 million in 2024 and is projected to reach from USD 327.52 Million in 2025 to USD 583.4 million by 2033, registering a CAGR of 10.1% during the forecast period (2025-2033). The market growth is fueled by rising industrial, personal care, and food and beverage demand. This market is widely utilized in Europe's personal care and cosmetics industries.
Succinic acid has the chemical formula C4H6O4 and is a dicarboxylic acid. It is a naturally occurring substance found in many living organisms, although it can also be synthesized chemically or by fermentation. It is a versatile and valuable chemical with numerous essential uses in various sectors.
Its use as a critical component for polyurethanes, polybutylene succinate (PBS), plasticizers, and a substrate for compounds such as 1,4-butanediol (BDO) is one of the primary drivers fueling the industry. Expanding demand for bio-based compounds, increased use of succinic acid as a core ingredient in producing chemical substances and consumer goods, and technological advancements in bio-based succinic acid production have all accelerated market share growth. The market is influenced by the preference for succinic acid over butane-based maleic anhydride in the production of chemicals such as succinic anhydride, fumaric acid, diethylmaleate, glyoxylic acid, and other plastics, as well as its use in the production of polymers that are traditionally made from butane.
This acid is critical in manufacturing bio-based polymers such as polybutylene succinate (PBS). It's growth has been driven by the demand for environmentally friendly and biodegradable polymers in various applications, such as packaging and textiles. BioAmber, Myriant Corporation, and Reverdia (a joint venture of DSM and Roquette) have been at the forefront of developing succinic acid-based biopolymers. For example, BioAmber's bio-based succinic acid is employed in creating bio-succinic acid-based PBS, providing an environmentally beneficial alternative to typical petroleum-based polymers. Consumer preferences, governmental actions promoting sustainable practices, and business commitments to lessen the environmental effects of packaging materials have all fueled demand for biodegradable polymers. Compared to conventional plastics, bio-based polymers made from this acid have ecological benefits such as reduced reliance on fossil resources, a smaller carbon footprint, and superior end-of-life disposal choices.
Moreover, collaboration between its producers and downstream polymer makers has been a prominent trend. For example, collaborations between chemical companies and package producers aim to increase the production and acceptance of bio-based polymers. Succinic acid's rising uses in the polymer industry will likely influence the market trend. Technological developments, continued research, and strategic alliances are projected to develop new bio-based polymers further. Demand for bio-based polymers is predicted to rise as consumer preferences alter and regulatory pressures increase, adding to the continuous growth of applications in this industry.
Overcapacity and competitive pricing pressures have occurred in this market. The arrival of several players and the possibility of surplus production capacity can cause price swings, affecting its manufacturers' profitability. Companies in this acid sector have faced price fluctuation difficulties. During the third quarter of 2023, the price of this acid fluctuated throughout Europe and Asia. Prices in the United States had hit USD 1,962/MT by the quarter's conclusion. Expenses were USD 1,842/MT in China and USD 1,872/MT in South Korea. Fluctuations in raw material prices, production costs, and market demand, for example, can all contribute to abrupt changes in its prices. This unpredictability can influence manufacturing profitability significantly when production capacity exceeds market demand.
Furthermore, the admission of new companies and increased production facilities have led to periods of market overcapacity. This, combined with the necessity for businesses to remain competitive, can make maintaining steady and advantageous pricing difficult. Furthermore, companies competing in this industry may need to manage pricing to stay competitive while proactively maintaining long-term profitability. Pricing pressures can have an impact on revenue streams as well as investment decisions in R&D and production capacity expansion.
The global shift toward sustainable and bio-based chemistry presents succinic acid with tremendous opportunities. As a bio-based platform chemical, It may address the demand for greener solutions as companies and consumers prefer environmentally friendly options. Companies such as BioAmber, which manufactures bio-succinic acid, have positioned themselves to capitalize on the growing demand for environmentally friendly chemicals. BioAmber's bio-succinic acid is created by fermentation using renewable feedstocks, providing a greener alternative to this acid production methods. Bio-based and sustainable chemicals, including polymers, plastics, and specialty chemicals, are becoming more popular in various industries. Companies use bio-based products throughout the value chain to achieve environmental goals and consumer expectations.
Furthermore, regulatory frameworks in many regions are becoming more favorable to bio-based chemicals. Incentives, subsidies, and requirements to decrease the environmental impact of industrial processes, encourage the use of bio-based alternatives. The United States government has boosted its support for bio-based materials. The USDA, for example, rebranded its "Biorefinery Assistance Program" in 2014 to the "Biorefinery, Renewable Chemical, and Biobased Product Manufacturing Assistance Program." President Biden signed an executive order in 2023 to establish a national strategy with a 30% bio-based chemicals target. Furthermore, global programs such as the United Nations Sustainable Development Goals (SDGs) highlight the significance of sustainable production and consumption. This is a bio-based and sustainable chemical, is compatible with these global sustainability goals. Thus, increased demand for bio-based and sustainable chemicals will likely support the succinic acid market's continuous expansion. Companies that present themselves as sustainability leaders and provide bio-based alternatives will likely thrive on this opportunity.
| Study Period | 2021-2033 | CAGR | 10.10% |
| Historical Period | 2021-2023 | Forecast Period | 2025-2033 |
| Base Year | 2024 | Base Year Market Size | USD 297.47 Million |
| Forecast Year | 2033 | Forecast Year Market Size | USD 707.19 Million |
| Largest Market | Europe | Fastest Growing Market | Asia Pacific |
Europe is the most significant global market shareholder and is estimated to grow at a CAGR of 10.2% over the forecast period. This expansion can be attributed to the region's healthcare and agriculture sectors. Europe is predicted to see stagnating product demand due to customers' increased preference for bio-based products as a drop-in substitute. Many cosmetic brands, such as Unilever and P&G, are headquartered in Europe, contributing significantly to this regional market's growth. The presence of aircraft manufacturers in various parts of Germany and the United Kingdom has expanded the aerospace sector.
Furthermore, in 2022, the European Union (EU 27), Norway, Switzerland, and the United Kingdom collected an estimated 29.5 million metric tons of consumer plastic rubbish from posters, according to a PlasticsEurope (PEMRG) report. 35% of the entire amount was recycled. Most post-consumer treatments included energy recovery, with landfilling accounting for about a quarter. Such issues have opened up potential for the succinic acid market as it is utilized to make bioplastics.
North America is anticipated to exhibit a CAGR of 10.4% over the forecast period. This is due to numerous regional opportunities to establish and expand manufacturing facilities. Succinic acid production from the microbial conversion of renewable feedstock has attracted North American interest in achieving sustainable development in these times of petroleum scarcity. Furthermore, the country's high consumer spending potential has influenced the use of personal care and cosmetic products.
Additionally, throughout the projection period, this factor will significantly increase demand for succinic acid in the personal care industry in the United States. Succinic acid supplements and succinic acid tablets are predicted to enjoy a steady increase in use during the forecast period due to the country's growing health consciousness. Increasing desire for organic products and raising awareness about chemical-based products' dangers will drive up demand for this market in the United States.
Asia-Pacific holds a significant market share. According to succinic acid market insights, major advancements in the application are driving the Asia-Pacific market. The availability of low-cost labor is increasing the number of production plants in Asia-Pacific, with China having the most production capacity of any country in the region. China is well-known for its excellent manufacturing capabilities, and the succinic acid market is projected to benefit from this. China's succinic acid market growth is predicted to be boosted by low labor costs and supporting government efforts. The manufacturing of succinic acid food additives, supplements, and tablets is predicted to increase in the country throughout the forecast period.
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Petro-based businesses generate the most revenue in the market. Petro-based succinic acid is primarily synthesized from fossil fuel feedstocks using standard chemical synthesis methods. This entails the chemical conversion of petrochemical intermediates to succinic acid. The petro-based category is expected to contribute the most to market growth throughout the projection period. The chemical industry's need for PBS, PBST, and polyurethane is mostly to blame for the segment's growth. Petro-based succinic acid is more cost-effective and efficient than bio-based succinic acid. It's also extensively used to make PBS as a flavor enhancer in the food, beverage, and chemical industries.
Bio-based acid is expected to develop the fastest during the projected period. Bio-based succinic acid is formed by biological processes, most commonly through fermentation with renewable feedstocks. Sugars are converted into this acid by microorganisms such as bacteria or yeast. As a result, manufacturers are shifting to bio-based succinic acid, which performs in compositions similar to phthalic anhydride. Companies such as Myriant, for example, have developed bio-based succinic acid with structural similarities to maleic anhydride and phthalic anhydride, thereby enhancing efficiency and decreasing variations in production. As a result, the bio-based chemical segment of the market studied has expanded.
This acid is used in the industrial sector for various purposes, including manufacturing industrial chemicals, solvents, and intermediates. It can be used in operations that require dicarboxylic acid. This acid may be crucial in industrial processes such as manufacturing polymers, resins, and chemicals. In 2022, the industrial-use category dominated the market, accounting for more than 40% of total revenue. This high market share can be attributable to the growing use of goods such as 1,4-butanediol (BDO), polyurethane, and tetrahydrofuran in industries where this is the key raw ingredient. BDO is utilized in synthesizing tetrahydrofuran, which is employed as a solvent in the chemical industry and an essential raw material in spandex production. Spandex has high flexibility and strength. The increased demand for this material will increase the segment's growth.
It is utilized in the coatings industry as a building block in the manufacturing of some coatings and paints. It may aid in the development of resins with specific characteristics. Coatings maintained the second-largest revenue share in 2022, owing to increased demand from the construction and automotive industries. This acid is a common raw material in layers because it adds hardness, a quick cure ratio, and shine to the surface. Improving infrastructure due to more lavish government spending in nations such as the United States, India, and China will likely stimulate demand even further. Rising construction activity and increased urbanization will also drive demand. The transfer of the automotive manufacturing business from Europe to areas of Asia Pacific is expected to expand the automotive industry in this region and drive coating demand.
