The Alkyl Succinic Anhydrides Market Size was estimated at (USD 2.21 Billion) in 2022. The Alkyl Succinic Anhydrides Industry is expected to grow from (USD 2.35 Billion) in 2023 to (USD 4.05 Billion) by 2032. exhibiting a compound annual growth rate (CAGR) of 6.26% during the forecast period (2024 - 2032).
Key market drivers for alkyl succinic anhydrides include the growing demand for plasticizers, lubricants, and surface coatings. Plasticizers are used to enhance the flexibility and moldability of polymers, and alkyl succinic anhydrides are widely used in the production of polyvinyl chloride (PVC) plasticizers. Increasing industrialization and urbanization are creating opportunities for the alkyl succinic anhydrides market. The construction industry, in particular, is a major consumer of plasticizers, and the growing demand for flexible PVC pipes and fittings is expected to drive market growth.Recent trends in the alkyl succinic anhydrides market include the development of bio-based alternatives and the increasing use of alkyl succinic anhydrides in sustainable applications. Bio-based alkyl succinic anhydrides are produced from renewable resources, such as vegetable oils, and offer environmental benefits over traditional petroleum-based products.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Due to the rising customer demands with respect to the environmental impact of materials used in the production process, bio-based materials are demanded to a greater extent. Given their derivation from renewable resources such as corn or sugarcane, alkyl succinic anhydrides are becoming increasingly popular among corporations that seek to improve their carbon footprint. Thus, it can be assumed that the production of bio-based plastics, coatings, and lubricants will promote growth in the demand for such products.Additionally, government policies aimed at promoting the use of bio-based materials could facilitate greater demand for alkyl succinic anhydrides in the future.
Introduction Alkyl succinic anhydrides are significantly used in the personal care and cosmetics industry as emulsifiers, stabilizers, and thickeners. The increasing demand for skincare, haircare, and cosmetic products is expected to influence the growth prospects for the Alkyl Succinic Anhydrides Market. The rising awareness of personal care and grooming due to the increasing disposable income of the global population is contributing to the increase in the demand for this industry.
Today, due to continuous technological and innovative development, new applications for alkyl succinic anhydrides emerge. In this context, the ongoing research and development activities are concentrated on the improvement of the performance and functionalities of these products. High-growth industries, such as pharmaceutical, electronics, and automotive, particularly focus on innovative alkyl succinic anhydride-based products. They are expected to create new growth opportunities for the Alkyl Succinic Anhydrides Market Industry.
Global Alkyl Succinic Anhydrides are segmented by Alkyl Chain Length C4, C6, C8, C10, C12, and C14. C6 and C10 Alkyl Chain Lengths are anticipated to notice significant growth in the forecast period. C6 Alkyl Succinic Anhydride is employed in the production of synthetic lubricants, while C10 Alkyl Succinic Anhydride is utilized in the production of high-performance polymers and coatings. The growth of these end-use industries is foreseen to drive the market for C6 and C10 Alkyl Chain Length. The Alkyl Succinic Anhydrides Market, based on revenue, the C4 Alkyl Chain Length, is anticipated to reach USD 0.45 billion by 2026, displaying a CAGR of 5.8%.The C6 Alkyl Chain Length is expected to reach USD 0.68 billion by implementing a CAGR of 6.2% through 2026. The C8 Alkyl Chain Length is projected to reach USD 0.32 billion by displaying a CAGR of 6.0% through 2026. The C10 Alkyl Chain Length is expected to be worth USD 0.28 billion by exhibiting a CAGR of 5.9% through 2026. The C12 Alkyl Chain Length is expected to reach USD 0.24 billion by implementing a CAGR of 5.7% through 2026. The C14 Alkyl Chain Length is anticipated to reach USD 0.21 billion by displaying a CAGR of 5.6% through 2026. The growth of the Alkyl Succinic Anhydrides Market is attributed to the rising demand for high-performance lubricants, polymers, and coatings.These are used in the automotive, aerospace, and electronics industries. The growing demand for such industries is expected to drive the growth of the Alkyl Succinic Anhydrides Market.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
The Alkyl Succinic Anhydrides Market is segmented by Application such as Lubricants, Coatings, Plastics, Additives, and Other Applications. Lubricants represented the largest segment of the Alkyl Succinic Anhydrides Market in 2023, accounting for over 40% of the market revenue. This segment is expected to maintain its dominance throughout the forecast period, driven by the increasing demand for high-performance lubricants in various industries, including automotive, industrial, and aerospace. Coatings are another significant segment of the Alkyl Succinic Anhydrides Market, accounting for around 30% of the market revenue in 2023.The growth of this segment is attributed to the rising demand for protective and decorative coatings in various end-use industries, such as automotive, construction, and consumer electronics. Plastics is a growing segment of the Alkyl Succinic Anhydrides Market, driven by the increasing adoption of bio-based and biodegradable plastics. Alkyl Succinic Anhydrides are used as modifiers in plastics to improve their properties, such as flexibility, toughness, and heat resistance. Additives are a small but growing segment of the Alkyl Succinic Anhydrides Market.Alkyl Succinic Anhydrides are used as additives in various products, including personal care products, detergents, and pharmaceuticals, to enhance their performance and stability. Other Applications include the use of Alkyl Succinic Anhydrides in the production of pharmaceuticals, food additives, and personal care products.
The Alkyl Succinic Anhydrides Market segmentation by End-Use Industry comprises Automotive, Industrial, Construction, Energy, and Other End-Use Industries. The Industrial segment held the largest market share in 2023, owing to the extensive utilization of alkyl succinic anhydrides in the production of plasticizers, lubricants, and other industrial applications. The Automotive segment is projected to grow at a significant CAGR during the forecast period, driven by the increasing demand for lightweight and fuel-efficient vehicles. The Construction segment is also expected to witness substantial growth, attributed to the rising demand for durable and sustainable building materials.The Energy segment is anticipated to grow steadily, supported by the growing adoption of renewable energy sources and the need for efficient energy storage systems. Other End-Use Industries, including packaging, electronics, and personal care, are expected to contribute to the overall market growth.
The purity segment of the Alkyl Succinic Anhydrides Market is expected to witness significant growth in the coming years. The increasing demand for high-purity alkyl succinic anhydrides in various applications, especially in the pharmaceutical and food industries, is driving the growth of this segment. Alkyl succinic anhydrides with purities of 99%, 99.5%, 99.9%, and 99.99% are widely used in the manufacturing of pharmaceuticals, food additives, and personal care products. Among these, 99.9% and 99.99% purity grades account for a major share of the market due to their stringent quality requirements in the pharmaceutical industry.The growing prevalence of chronic diseases and the increasing demand for high-quality pharmaceuticals are expected to fuel the demand for high-purity alkyl succinic anhydrides in the coming years. The Alkyl Succinic Anhydrides Market revenue for the purity segment is projected to grow at a CAGR of 6.8% during the forecast period, reaching a value of USD 1.25 billion by 2028. Asia-Pacific is expected to be the fastest-growing region in this segment, driven by the increasing demand from emerging economies such as China and India.
The Alkyl Succinic Anhydrides Market is segmented into North America, Europe, APAC, South America, and MEA. Among these regions, North America held the largest market share in 2023 and is expected to maintain its dominance throughout the forecast period. The growth of the North American market can be attributed to the increasing demand for personal care products, paints and coatings, and plastics. Europe is the second-largest market for Alkyl Succinic Anhydrides, followed by APAC. The APAC region is expected to witness the highest growth rate during the forecast period due to the increasing demand from emerging economies such as China and India.South America and MEA are relatively smaller markets for Alkyl Succinic Anhydrides, but they are expected to grow at a steady pace during the forecast period.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Alkyl Succinic Anhydrides Market major players focus on expanding their product portfolio, as well as business and geographical reach. The industry is competitive, with Alkyl Succinic Anhydrides Market Suppliers, including Evonik Industries, BASF, Solvay, and Perstorp Holding AB, are the major players constantly investing in research and development to introduce new products, safeguard their production capabilities, and engage in strategic partnership, mergers and acquisitions to stabilize their position and access to new technologies and market. The industry is also moving towards sustainability. For example, in May 2021, Solvay authorized SCS Global Services to provide certification for Solvay’s green manufacturing and in August 2021, Perstorp introduced a separate state-of-the-art carbon capture unit at the Perstorp Plant in Sweden.Evonik Industries is a major competitive supplier in the Alkyl Succinic Anhydrides Market. Evonik is a German-based company founded in 2007 by the merger of Degussa of Germany and HCHST of Germany. The company's global reach and large customer base distinguish Evonik and other players in the industry. Some of the products offered by the company are N-alkylsuccinamic acid, Alkasurf N-170, Alkasurf N-100L, Alkasurf N-120S, and Alkasurf N-50. The company is constantly investing in research and development, having introduced in May 2021 a new product, Bday, as the newest addition to Evonik Biogenic construction blocks.BASF is another major competitive player in the Global Alkyl Succinic Anhydride Market. BASF is a German-based company founded in 1865 and has a large customer base and global reach. The company is also aware of eco-sustainability and addresses the problem by reducing its environmental impact, with two examples being across many implemented initiatives of BASF. For example, in July 2021, BASF was included in the Suppliers category in CDP’s Water Security A-List and in September 2020, BASF introduced Axom, based on the highest purity Alkylsuccinic acid.
The Alkyl Succinic Anhydrides Market is projected to reach USD 4.05 billion by 2032, exhibiting a CAGR of 6.26% from 2024 to 2032. Increasing demand for biodegradable and sustainable materials in various industries, such as packaging, paints and coatings, and personal care, is anticipated to drive market growth. Growing environmental concerns and regulations supporting the adoption of eco-friendly alternatives further contribute to the market's expansion. The Asia-Pacific region is expected to hold a significant share of the market due to rising manufacturing and construction activities. Key market players are focusing on expanding their production capacities and developing innovative products to meet the growing demand. Recent developments include BASF's investment in a new production facility in China and Evonik's acquisition of Perstorp's ASA business, strengthening their market positions.
| Report Attribute/Metric | Details |
| Market Size 2022 | 2.21(USD Billion) |
| Market Size 2023 | 2.35(USD Billion) |
| Market Size 2032 | 4.05(USD Billion) |
| Compound Annual Growth Rate (CAGR) | 6.26% (2024 - 2032) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year | 2023 |
| Market Forecast Period | 2024 - 2032 |
| Historical Data | 2019 - 2023 |
| Market Forecast Units | USD Billion |
| Key Companies Profiled | Croda, Lonza, BioAmber, BASF, Mitsubishi Chemical Corporation, AkzoNobel, Momentive Performance Materials, Evonik, King Industries, Emery Oleochemicals, Ashland, Perstorp, Kao Corporation, Eastman Chemical Company, Stepan Company |
| Segments Covered | Alkyl Chain Length, Application, End-Use Industry, Purity, Regional |
| Key Market Opportunities | Biobased Alkyl Succinic Anhydrides Growing Pharmaceutical Industry Rising Demand for Ecofriendly Products Increasing Applications in Personal Care Products Expansion in the AsiaPacific Region |
| Key Market Dynamics | Rising demand for biodegradable and sustainable packaging Growing use in personal care and cosmetics Increasing applications in industrial coatings Expansion of the AsiaPacific market Technological advancements for enhanced performance |
| Countries Covered | North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Alkyl Succinic Anhydrides Market is currently valued at around 2.35 Billion USD in 2023.
The Alkyl Succinic Anhydrides Market is projected to grow at a CAGR of 6.26% from 2024 to 2032.
The Asia-Pacific region is expected to dominate the Alkyl Succinic Anhydrides Market during the forecast period.
Alkyl Succinic Anhydrides are primarily used in the production of personal care products, detergents, and lubricants.
Some of the key competitors in the Alkyl Succinic Anhydrides Market include BASF, Evonik, Stepan Company, and Croda International Plc.
The growth of the Alkyl Succinic Anhydrides Market is primarily driven by the increasing demand for personal care products and detergents.
The major challenges faced by the Alkyl Succinic Anhydrides Market include the availability of substitutes and the volatility of raw material prices.
The potential opportunities for growth in the Alkyl Succinic Anhydrides Market include the development of new applications and the expansion into emerging markets.
Some of the key trends in the Alkyl Succinic Anhydrides Market include the increasing demand for sustainable products and the adoption of advanced technologies.
The Alkyl Succinic Anhydrides Market is expected to reach a value of around 4.05 Billion USD by 2032.
Senior Research Analyst With an experience of over five years in market research industry (chemicals & materials domain), i gather and analyze market data from diverse sources to produce results, which are then presented back to a client. also, provide recommendations based on the findings. as a senior research analyst, i perform quality checks (qc) for market estimations, qc for reports, and handle queries and work extensively on client customizations. also, handle the responsibilities of client proposals, report planning, report finalization, and execution
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