Succinic Acid Market Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2022-2028

 

Succinic Acid Market
Succinic Acid Market 

Succinic acid, also known as succinate, is a crucial component of the metabolic process and may be found in the tissues of both plants and mammals. The Latin word succinum, which means amber, is where the name succinic acid comes from. Earlier, it was also known as "spirit of amber."

During the anticipated period, the market is anticipated to be driven by the increasing use of succinic acid as an alternative to adipic acid in the manufacturing of polyurethane. The demand for polyurethanes is primarily driven by applications such as elastomers, sealants, varnishes, and adhesives. One significant element driving the demand for polyurethanes is the rise in rigid and flexible polyurethane demand. The non-toxic nature, improved heat resistance & processability, and biodegradability of succinic acid are projected to drive the market in the next years.

In the upcoming years, the Succinic Acid market is expected to increase due to rising demand for bio-based chemicals, rising per capita income around the world, shifting dietary trends, and rising demand from the beverage and food industries. The demand for plasticizers is anticipated to rise, which will fuel succinic acid demand worldwide. Plasticizers are generally used in the manufacturing of polyvinyl chloride as additives (PVC). There are many industries that employ PVC. The market for succinic acid is driven by this. PVC pipes, polyvinyl butyral (PVB), and other goods are produced using plasticizers because of their low volatility and low viscosity.

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