Succinic Acid prices
In the fourth quarter of 2023, the price of Succinic acid in US reached 4,061.59 USD/Ton. In December 2023, the price in China was 2,977.48 USD/Ton. Meanwhile, in India, the price for q4 2023 stood at 3,455.37 USD/Ton.
Global Succinic Acid Import (Kilo tons)
|
Region |
2018 |
2023 |
|
North America |
4.38 |
5.77 |
|
Europe |
5.28 |
7.79 |
|
Asia Pacific |
12.13 |
16.28 |
|
Latin America |
2.24 |
3.17 |
Global Succinic Acid Export (Kilo tons)
|
Region |
2018 |
2023 |
|
North America |
8.71 |
10.85 |
|
Europe |
9.86 |
13.21 |
|
Asia Pacific |
7.30 |
10.64 |
|
Latin America |
0.84 |
1.16 |
Succinic Acid Price Trend, Industry Analysis, and News
Credence research’s newly published report, “Succinic Acid pricing report 2024: price trend, chart, news, demand, historical and forecast data,” provides a comprehensive analysis of Succinic Acid pricing, focusing on global and regional trends and the key factors driving these price movements. The report includes an in-depth review of the spot price of Succinic Acid at major ports, with a detailed breakdown of prices including ex works, fob, and cif. It also offers a region-wise analysis of Succinic Acid price trends across North America, Europe, Asia pacific, Latin America, and the Middle East and Africa.
The report delves into the elements influencing Succinic Acid price fluctuations, such as changes in raw material costs, supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it incorporates the latest news, offering stakeholders up-to-date information on market shifts, regulatory changes, and technological advancements.
Succinic Acid Market Analysis
The global Succinic Acid market size reached 101.27 kilo tons in 2023. By 2032, Credence Research expects the market to reach 174.06 Kilo tons, at a projected CAGR of 5.98% during 2023-2032.
Succinic acid is widely used in the pharmaceutical industry as a precursor for active pharmaceutical ingredients (APIs). Its role in producing antibiotics, vitamins, and pain relievers makes it a vital component in drug manufacturing.
The food and beverage industry utilizes succinic acid as a flavor enhancer and acidity regulator. Its ability to act as a pH control agent in food products enhances its market demand, particularly in processed foods and beverages.
Succinic acid is a key ingredient in producing biodegradable polymers, particularly polybutylene succinate (PBS). As the demand for eco-friendly and sustainable materials grows, the succinic acid market is poised for significant expansion in the bioplastics sector.
The growing emphasis on sustainability and green chemistry has accelerated the demand for bio-based succinic acid. Environmental concerns and regulatory pressures are encouraging the shift from petrochemical-based to bio-based succinic acid, driving market growth.
Continuous advancements in biotechnology have enabled more cost-effective and efficient production methods for bio-based succinic acid. Innovations in fermentation processes are expected to reduce production costs and increase yield, thereby enhancing market profitability.
Succinic Acid News
The report comprehensively covers the latest developments, updates, and trends affecting the global Succinic Acid market, offering stakeholders timely and pertinent information. This section includes a broad spectrum of news items, such as the inauguration of new production facilities, advancements in Succinic Acid production technologies, strategic market expansions by key industry players, and significant mergers and acquisitions that influence Succinic Acid price trends.
Recent developments in the Succinic Acid industry:
· In March 2014, BASF SE, in a joint venture with Corbion Purac, announced the successful start-up of its first commercial production facility for bio-based succinic acid.
· In 2017, PTT MCC Biochem, a joint venture of Mitsubishi Chemical Corporation, started producing and selling bio-based PBS, which consists of succinic acid derived from natural resources.
Product Description
Succinic acid, also known as butanedioic acid, is a dicarboxylic acid that naturally occurs in living organisms as an intermediate in the Krebs cycle. It is a white, odorless crystalline solid with a slightly bitter taste. Succinic acid can be derived from both petrochemical sources and renewable feedstocks, with the latter gaining popularity due to environmental sustainability concerns.
This versatile compound finds applications across a wide range of industries. In the pharmaceutical industry, succinic acid is utilized as a precursor for active pharmaceutical ingredients (APIs), playing a crucial role in the production of antibiotics, anti-inflammatory drugs, and vitamins. In the food and beverage industry, it serves as an acidity regulator, flavor enhancer, and pH control agent, improving the taste and shelf life of various products.
Succinic acid is also a key ingredient in the production of biodegradable polymers, such as polybutylene succinate (PBS), which are increasingly used in packaging, agriculture, and consumer goods. Additionally, it is employed in the manufacture of resins, coatings, and dyes, contributing to the development of eco-friendly materials. The rising demand for bio-based succinic acid underscores its growing importance in the shift towards sustainable and renewable chemical processes.
Regional Coverage
North America
In Q4 2024, acetic acid prices in North America saw a noticeable increase, primarily driven by ongoing supply constraints and rising feedstock costs. The region’s dependency on imported raw materials, exacerbated by logistic challenges and port congestions, has played a significant role in price hikes. Additionally, the energy crisis has further driven up manufacturing costs, with natural gas prices escalating. The increase in demand for succinic acid, reflected in a rise from 4.38 Kilo Tons in 2018 to 5.77 Kilo Tons in 2023, has put further pressure on acetic acid prices, as it shares common feedstocks with succinic acid production.
Europe
Europe experienced substantial acetic acid price increases during Q4 2024 due to a combination of supply chain disruptions and increased regulatory costs. Stricter environmental regulations have led to higher compliance costs, directly affecting production expenses. The demand for succinic acid, which rose from 5.28 Kilo Tons in 2018 to 7.79 Kilo Tons in 2023, indicates a growing industrial application in the region, adding further pressure on acetic acid prices. The region’s reliance on imports and the volatile geopolitical landscape also contributed to supply instability, making it difficult for manufacturers to maintain steady pricing.
Asia Pacific
The Asia Pacific region saw a moderate increase in acetic acid prices during Q4 2024, primarily driven by heightened demand and fluctuating feedstock prices. With succinic acid imports rising significantly from 12.13 Kilo Tons in 2018 to 16.28 Kilo Tons in 2023, the region has become a major consumer of related chemicals, which in turn has put pressure on acetic acid supplies. Despite this, the region’s robust local production capacities have somewhat mitigated the price surge, although ongoing supply chain disruptions and increased energy costs remain significant challenges.
Middle East
In the Middle East, acetic acid prices in Q4 2024 remained relatively stable, with only a slight increase noted. The region’s relatively lower demand for succinic acid, with imports growing only marginally from 1.93 Kilo Tons in 2018 to 2.07 Kilo Tons in 2023, has kept acetic acid demand more manageable. However, the region’s reliance on exports and the global market’s volatility have caused some fluctuations in pricing. Additionally, the cost of transportation and the impact of geopolitical tensions continue to be key factors influencing the pricing dynamics in this region.
Sustainability analysis including environmental impact and eco-friendly alternatives and regulations
Succinic acid production has gained attention for its sustainability potential, particularly when derived from renewable sources such as biomass. Traditionally, succinic acid was produced from petroleum-based feedstocks, which posed significant environmental concerns due to high carbon emissions and reliance on non-renewable resources. However, advancements in biotechnology have led to the development of bio-based succinic acid, which is produced through the fermentation of renewable feedstocks like corn, sugarcane, and other plant materials. This method significantly reduces the carbon footprint, as it utilizes CO2 in the production process, contributing to a more sustainable carbon cycle.
Eco-friendly alternatives in succinic acid production, such as microbial fermentation, have demonstrated lower energy consumption and reduced waste generation compared to conventional methods. Moreover, bio-based succinic acid is biodegradable, further enhancing its environmental benefits.
Regulations play a crucial role in promoting the adoption of sustainable practices in succinic acid production. Governments and environmental agencies in regions like Europe and North America have implemented stringent regulations on carbon emissions and the use of non-renewable resources. These regulations encourage the chemical industry to shift towards greener production methods, including the use of bio-based feedstocks and energy-efficient technologies, aligning with global sustainability goals.
Report Details
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Key attributes |
Details |
|
Product name |
Succinic Acid |
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Report features |
Exploration of historical trends and market outlook |
|
Currency/units |
Us$ (data can also be provided in local currency) or metric tons |
|
Region/countries covered |
The current coverage includes analysis at the global and regional levels only. Based on your requirements, we can also customize the report and provide specific information for the following countries: Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, the Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hong Kong, Singapore, Australia, and New Zealand. Europe: Germany, France, the United Kingdom, Italy, Spain, Russia, Turkey, the Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Switzerland, Norway, Denmark, Romania, Finland, the Czech Republic, Portugal, and Greece. North America: the United States and Canada Latin America: Brazil, Mexico, Argentina, Colombia, Chile, Ecuador, and Peru Middle East and Africa: Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco note: the list of countries presented is not exhaustive. Information on additional countries can be provided if required by the client. |
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Information covered for key suppliers |
Company overview |
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Customization scope |
The report can be customized as per the requirements of the customer |
|
Report price and purchase option |
Plan A: monthly updates; annual subscription Plan B: quarterly updates; annual subscription Plan C: biannually updated updates; annual subscription
|
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Post-sale analyst support |
360-degree analyst support after report delivery |
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Delivery format |
Pdf and excel through email (we can also provide the editable version of the report in ppt/word format on special request) |
Key benefits for stakeholders:
· Credence research’s report provides an in-depth analysis of Succinic Acid pricing, including global and regional trends, spot prices at key ports, and detailed ex works, fob, and cif price breakdowns.
· The study explores factors influencing the Succinic Acid price trend, such as raw material costs, supply-demand changes, geopolitical impacts, and industry developments, to offer valuable insights for informed decision-making.
· The competitive landscape review offers stakeholders essential insights into the latest news, regulatory changes, and technological advancements, providing a comprehensive, strategic overview for forecasting and planning.
· Credence research offers various subscription options—monthly, quarterly, and biannual updates—enabling clients to stay updated with the latest market trends, ongoing developments, and extensive market insights. The Succinic Acid price charts ensure our clients remain industry leaders.
