Industry: Chemical & Material
Published Date: 2024-11-27
Pages: 107 Pages
Report ld: 3383542
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Petro-based Succinic Acid Market Size(US$)

CAGR 2024-2030
6.2%
Market Size,2030
USD 81.2
Million
Market Snapshot
Source: Secondary research, interviews with experts, and QYResearch analysis
The global market for Petro-based Succinic Acid was estimated to be worth US$ 50.9 million in 2023 and is forecast to a readjusted size of US$ 81.2 million by 2030 with a CAGR of 6.2% during the forecast period 2024-2030.
Succinic acid (also known as butanedioic acid) is a naturally occurring dicarboxylic acid that is used in various industrial applications, including the production of plastics, resins, solvents, and as an intermediate in the synthesis of other chemicals like 1,4-butanediol. Petro-based succinic acid refers to succinic acid produced from fossil fuels, specifically petroleum or natural gas, as opposed to bio-based or renewable sources like plant biomass.
The traditional petrochemical production of succinic acid typically involves the hydrogenation of maleic anhydride, which is derived from naphtha (a component of petroleum). This petrochemical process is often more energy-intensive and environmentally impactful compared to bio-based production methods. Petro-based succinic acid remains the dominant method for large-scale production, though bio-based routes are gaining in prominence.
The global demand for succinic acid is driven by industries such as plastics, automotive, pharmaceuticals, and food and beverages. Succinic acid is used in the production of biodegradable plastics (e.g., polybutylene succinate), solvents, detergents, and as an additive in food and pharmaceutical formulations. The automotive and bioplastics sectors have seen growing demand due to the shift toward sustainable alternatives to petroleum-based materials.
While petro-based succinic acid remains an important product in many industrial sectors due to its cost-effectiveness and established production infrastructure, the growing trend toward sustainability and renewable materials is pushing the market toward bio-based alternatives. As bio-based production methods improve in efficiency and scale, they could increasingly challenge petro-based succinic acid, especially in industries like bioplastics and pharmaceuticals. However, the pace of this transition will depend on technological advances, economic factors, and market demand for greener alternatives.
The core manufacturers of petro-based succinic acid in the world include LCY Biosciences (BioAmber), Reverdia, Nippon Shokubai, Shandong Feiyang, etc. The top five manufacturers account for about 70% of the global market share.
This report aims to provide a comprehensive presentation of the global market for Petro-based Succinic Acid, focusing on the total sales volume, sales revenue, price, key companies market share and ranking, together with an analysis of Petro-based Succinic Acid by region & country, by Type, and by Application.
The Petro-based Succinic Acid market size, estimations, and forecasts are provided in terms of sales volume (Tons) and sales revenue ($ millions), considering 2023 as the base year, with history and forecast data for the period from 2019 to 2030. With both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Petro-based Succinic Acid.
MARKET SEGMENTATION
CHAPTER OUTLINE
Chapter 1: Introduces the report scope of the report, global total market size (value, volume and price). This chapter also provides the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter 2: Detailed analysis of Petro-based Succinic Acid manufacturers competitive landscape, price, sales and revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 3: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 4: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 5: Sales, revenue of Petro-based Succinic Acid in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the market development, future development prospects, market space, and market size of each country in the world.
Chapter 6: Sales, revenue of Petro-based Succinic Acid in country level. It provides sigmate data by Type, and by Application for each country/region.
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 8: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 9: Conclusion.
QYRESEARCH'S STRENGTHS
Unlike generic global market reports, this study combines macro-level industry trends with hyper-local operational intelligence, empowering data-driven decisions across the Compound Chocolate value chain, addressing:
We identify regional market threats and growth prospects to guide your overseas layout.
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TABLE OF CONTENTS
1 Market Overview
1.1 Petro-based Succinic Acid Product Introduction
1.2 Global Petro-based Succinic Acid Market Size Forecast
1.2.1 Global Petro-based Succinic Acid Sales Value (2019-2030)
1.2.2 Global Petro-based Succinic Acid Sales Volume (2019-2030)
1.2.3 Global Petro-based Succinic Acid Sales Price (2019-2030)
1.3 Petro-based Succinic Acid Market Trends & Drivers
1.3.1 Petro-based Succinic Acid Industry Trends
1.3.2 Petro-based Succinic Acid Market Drivers & Opportunity
1.3.3 Petro-based Succinic Acid Market Challenges
1.3.4 Petro-based Succinic Acid Market Restraints
1.4 Assumptions and Limitations
1.5 Study Objectives
1.6 Years Considered
2 Competitive Analysis by Company
2.1 Global Petro-based Succinic Acid Players Revenue Ranking (2023)
2.2 Global Petro-based Succinic Acid Revenue by Company (2019-2024)
2.3 Global Petro-based Succinic Acid Players Sales Volume Ranking (2023)
2.4 Global Petro-based Succinic Acid Sales Volume by Company Players (2019-2024)
2.5 Global Petro-based Succinic Acid Average Price by Company (2019-2024)
2.6 Key Manufacturers Petro-based Succinic Acid Manufacturing Base and Headquarters
2.7 Key Manufacturers Petro-based Succinic Acid Product Offered
2.8 Key Manufacturers Time to Begin Mass Production of Petro-based Succinic Acid
2.9 Petro-based Succinic Acid Market Competitive Analysis
2.9.1 Petro-based Succinic Acid Market Concentration Rate (2019-2024)
2.9.2 Global 5 and 10 Largest Manufacturers by Petro-based Succinic Acid Revenue in 2023
2.9.3 Global Top Manufacturers by Company Type (Tier 1, Tier 2, and Tier 3) & (based on the Revenue in Petro-based Succinic Acid as of 2023)
2.10 Mergers & Acquisitions, Expansion
3 Segmentation by Type
3.1 Introduction by Type
3.1.1 Industrial Grade
3.1.2 Pharmaceutical Grade
3.1.3 Food Grade
3.1.4 Other Grade
3.2 Global Petro-based Succinic Acid Sales Value by Type
3.2.1 Global Petro-based Succinic Acid Sales Value by Type (2019 VS 2023 VS 2030)
3.2.2 Global Petro-based Succinic Acid Sales Value, by Type (2019-2030)
3.2.3 Global Petro-based Succinic Acid Sales Value, by Type (%) (2019-2030)
3.3 Global Petro-based Succinic Acid Sales Volume by Type
3.3.1 Global Petro-based Succinic Acid Sales Volume by Type (2019 VS 2023 VS 2030)
3.3.2 Global Petro-based Succinic Acid Sales Volume, by Type (2019-2030)
3.3.3 Global Petro-based Succinic Acid Sales Volume, by Type (%) (2019-2030)
3.4 Global Petro-based Succinic Acid Average Price by Type (2019-2030)
4 Segmentation by Application
4.1 Introduction by Application
4.1.1 Pharmaceutical Industry
4.1.2 Chemical and Solvent
4.1.3 Food & Beverage
4.1.4 Others
4.2 Global Petro-based Succinic Acid Sales Value by Application
4.2.1 Global Petro-based Succinic Acid Sales Value by Application (2019 VS 2023 VS 2030)
4.2.2 Global Petro-based Succinic Acid Sales Value, by Application (2019-2030)
4.2.3 Global Petro-based Succinic Acid Sales Value, by Application (%) (2019-2030)
4.3 Global Petro-based Succinic Acid Sales Volume by Application
4.3.1 Global Petro-based Succinic Acid Sales Volume by Application (2019 VS 2023 VS 2030)
4.3.2 Global Petro-based Succinic Acid Sales Volume, by Application (2019-2030)
4.3.3 Global Petro-based Succinic Acid Sales Volume, by Application (%) (2019-2030)
4.4 Global Petro-based Succinic Acid Average Price by Application (2019-2030)
5 Segmentation by Region
5.1 Global Petro-based Succinic Acid Sales Value by Region
5.1.1 Global Petro-based Succinic Acid Sales Value by Region: 2019 VS 2023 VS 2030
5.1.2 Global Petro-based Succinic Acid Sales Value by Region (2019-2024)
5.1.3 Global Petro-based Succinic Acid Sales Value by Region (2025-2030)
5.1.4 Global Petro-based Succinic Acid Sales Value by Region (%), (2019-2030)
5.2 Global Petro-based Succinic Acid Sales Volume by Region
5.2.1 Global Petro-based Succinic Acid Sales Volume by Region: 2019 VS 2023 VS 2030
5.2.2 Global Petro-based Succinic Acid Sales Volume by Region (2019-2024)
5.2.3 Global Petro-based Succinic Acid Sales Volume by Region (2025-2030)
5.2.4 Global Petro-based Succinic Acid Sales Volume by Region (%), (2019-2030)
5.3 Global Petro-based Succinic Acid Average Price by Region (2019-2030)
5.4 North America
5.4.1 North America Petro-based Succinic Acid Sales Value, 2019-2030
5.4.2 North America Petro-based Succinic Acid Sales Value by Country (%), 2023 VS 2030
5.5 Europe
5.5.1 Europe Petro-based Succinic Acid Sales Value, 2019-2030
5.5.2 Europe Petro-based Succinic Acid Sales Value by Country (%), 2023 VS 2030
5.6 Asia Pacific
5.6.1 Asia Pacific Petro-based Succinic Acid Sales Value, 2019-2030
5.6.2 Asia Pacific Petro-based Succinic Acid Sales Value by Region (%), 2023 VS 2030
5.7 South America
5.7.1 South America Petro-based Succinic Acid Sales Value, 2019-2030
5.7.2 South America Petro-based Succinic Acid Sales Value by Country (%), 2023 VS 2030
5.8 Middle East & Africa
5.8.1 Middle East & Africa Petro-based Succinic Acid Sales Value, 2019-2030
5.8.2 Middle East & Africa Petro-based Succinic Acid Sales Value by Country (%), 2023 VS 2030
6 Segmentation by Key Countries/Regions
6.1 Key Countries/Regions Petro-based Succinic Acid Sales Value Growth Trends, 2019 VS 2023 VS 2030
6.2 Key Countries/Regions Petro-based Succinic Acid Sales Value
6.2.1 Key Countries/Regions Petro-based Succinic Acid Sales Value, 2019-2030
6.2.2 Key Countries/Regions Petro-based Succinic Acid Sales Volume, 2019-2030
6.3 United States
6.3.1 United States Petro-based Succinic Acid Sales Value, 2019-2030
6.3.2 United States Petro-based Succinic Acid Sales Value by Type (%), 2023 VS 2030
6.3.3 United States Petro-based Succinic Acid Sales Value by Application, 2023 VS 2030
6.4 Europe
6.4.1 Europe Petro-based Succinic Acid Sales Value, 2019-2030
6.4.2 Europe Petro-based Succinic Acid Sales Value by Type (%), 2023 VS 2030
6.4.3 Europe Petro-based Succinic Acid Sales Value by Application, 2023 VS 2030
6.5 China
6.5.1 China Petro-based Succinic Acid Sales Value, 2019-2030
6.5.2 China Petro-based Succinic Acid Sales Value by Type (%), 2023 VS 2030
6.5.3 China Petro-based Succinic Acid Sales Value by Application, 2023 VS 2030
6.6 Japan
6.6.1 Japan Petro-based Succinic Acid Sales Value, 2019-2030
6.6.2 Japan Petro-based Succinic Acid Sales Value by Type (%), 2023 VS 2030
6.6.3 Japan Petro-based Succinic Acid Sales Value by Application, 2023 VS 2030
6.7 South Korea
6.7.1 South Korea Petro-based Succinic Acid Sales Value, 2019-2030
6.7.2 South Korea Petro-based Succinic Acid Sales Value by Type (%), 2023 VS 2030
6.7.3 South Korea Petro-based Succinic Acid Sales Value by Application, 2023 VS 2030
6.8 Southeast Asia
6.8.1 Southeast Asia Petro-based Succinic Acid Sales Value, 2019-2030
6.8.2 Southeast Asia Petro-based Succinic Acid Sales Value by Type (%), 2023 VS 2030
6.8.3 Southeast Asia Petro-based Succinic Acid Sales Value by Application, 2023 VS 2030
6.9 India
6.9.1 India Petro-based Succinic Acid Sales Value, 2019-2030
6.9.2 India Petro-based Succinic Acid Sales Value by Type (%), 2023 VS 2030
6.9.3 India Petro-based Succinic Acid Sales Value by Application, 2023 VS 2030
7 Company Profiles
7.1 Nippon Shokubai
7.1.1 Nippon Shokubai Company Information
7.1.2 Nippon Shokubai Introduction and Business Overview
7.1.3 Nippon Shokubai Petro-based Succinic Acid Sales, Revenue, Price and Gross Margin (2019-2024)
7.1.4 Nippon Shokubai Petro-based Succinic Acid Product Offerings
7.1.5 Nippon Shokubai Recent Development
7.2 Feiyang Chemical
7.2.1 Feiyang Chemical Company Information
7.2.2 Feiyang Chemical Introduction and Business Overview
7.2.3 Feiyang Chemical Petro-based Succinic Acid Sales, Revenue, Price and Gross Margin (2019-2024)
7.2.4 Feiyang Chemical Petro-based Succinic Acid Product Offerings
7.2.5 Feiyang Chemical Recent Development
7.3 Sunsing Chemicals
7.3.1 Sunsing Chemicals Company Information
7.3.2 Sunsing Chemicals Introduction and Business Overview
7.3.3 Sunsing Chemicals Petro-based Succinic Acid Sales, Revenue, Price and Gross Margin (2019-2024)
7.3.4 Sunsing Chemicals Petro-based Succinic Acid Product Offerings
7.3.5 Sunsing Chemicals Recent Development
7.4 Jinbaoyu Technology
7.4.1 Jinbaoyu Technology Company Information
7.4.2 Jinbaoyu Technology Introduction and Business Overview
7.4.3 Jinbaoyu Technology Petro-based Succinic Acid Sales, Revenue, Price and Gross Margin (2019-2024)
7.4.4 Jinbaoyu Technology Petro-based Succinic Acid Product Offerings
7.4.5 Jinbaoyu Technology Recent Development
7.5 Shandong Landian Biological Technology
7.5.1 Shandong Landian Biological Technology Company Information
7.5.2 Shandong Landian Biological Technology Introduction and Business Overview
7.5.3 Shandong Landian Biological Technology Petro-based Succinic Acid Sales, Revenue, Price and Gross Margin (2019-2024)
7.5.4 Shandong Landian Biological Technology Petro-based Succinic Acid Product Offerings
7.5.5 Shandong Landian Biological Technology Recent Development
7.6 Shanghai Shenren Fine Chemical
7.6.1 Shanghai Shenren Fine Chemical Company Information
7.6.2 Shanghai Shenren Fine Chemical Introduction and Business Overview
7.6.3 Shanghai Shenren Fine Chemical Petro-based Succinic Acid Sales, Revenue, Price and Gross Margin (2019-2024)
7.6.4 Shanghai Shenren Fine Chemical Petro-based Succinic Acid Product Offerings
7.6.5 Shanghai Shenren Fine Chemical Recent Development
7.7 Weinan Huifeng
7.7.1 Weinan Huifeng Company Information
7.7.2 Weinan Huifeng Introduction and Business Overview
7.7.3 Weinan Huifeng Petro-based Succinic Acid Sales, Revenue, Price and Gross Margin (2019-2024)
7.7.4 Weinan Huifeng Petro-based Succinic Acid Product Offerings
7.7.5 Weinan Huifeng Recent Development
8 Industry Chain Analysis
8.1 Petro-based Succinic Acid Industrial Chain
8.2 Petro-based Succinic Acid Upstream Analysis
8.2.1 Key Raw Materials
8.2.2 Raw Materials Key Suppliers
8.2.3 Manufacturing Cost Structure
8.3 Midstream Analysis
8.4 Downstream Analysis (Customers Analysis)
8.5 Sales Model and Sales Channels
8.5.1 Petro-based Succinic Acid Sales Model
8.5.2 Sales Channel
8.5.3 Petro-based Succinic Acid Distributors
9 Research Findings and Conclusion
10 Appendix
10.1 Research Methodology
10.1.1 Methodology/Research Approach
10.1.1.1 Research Programs/Design
10.1.1.2 Market Size Estimation
10.1.1.3 Market Breakdown and Data Triangulation
10.1.2 Data Source
10.1.2.1 Secondary Sources
10.1.2.2 Primary Sources
10.2 Author Details
10.3 Disclaimer
TABLE OF FIGURES
List of Tables
List of Figures
KEY QUESTIONS ADDRESSED BY THE REPORT
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The global Petro-based Succinic Acid market is projected to grow from US$ 59.78 million in 2025 to US$ 90.5 million by 2032, at a CAGR of 6.2% (2026-2032), driven by critical product segments and diverse end‑use applications, while evolving U.S. tariff policies introduce trade‑cost volatility and supply‑chain uncertainty.
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Published: 2025-02-24
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REPORT COVERAGE
DESCRIPTION
OVERVIEW
MARKET SEGMENTATION
CHAPTER OUTLINE
QYRESEARCH'S STRENGTHS
TABLE OF CONTENTS
TABLE OF FIGURES
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