Succinimide Market - Forecast(2021 - 2026)

 

Succinimide Market Overview

Succinimide Market size is forecast to reach around $300 million by 2025, after growing at a CAGR of 6.1% during 2020-2025. Succinimides are cyclic imides with wide industrial application and also known as 2,5-Pyrrolidinedione. Surging demand of succinimides from pharmaceuticals industries for the synthesis of Anticonvulsant drugs is driving the growth of the Succinimide market size. Apart from pharmaceutical applications, succinimide is also used in the liquid crystal display and in the production of water-soluble copolymers and polymers. Thus, increasing use of succinimide compounds in lubricants and detergent dispersants for fuel oil also augments the growth of the Succinimide market share during the forecast period.

 

Succinimide Market Report Coverage

The report: “Succinimide Market– Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the Succinimide Market. 
By Type: Bio based Succinimide, Polyisobutylene Succinimide, and N-Bromosuccinimide
By Application: Anticonvulsant Drugs (Mesuximide, Ethosuximide, and Phensuximide), Oil Additives (Lubricant, Detergent & Dispersants, and Others), Agrochemicals (Fungicides, Pesticides, and Others), Water Soluble Polymers, Liquid Crystal Display, Silver Electroless Plating, and Others
By End-Use Industry: Electronics, Agriculture, Automotive, Plastic, Cosmetics and Personal Care, Oil & Gas, Pharmaceutical, and Others
By Geography: North America, South America, Europe, APAC, and RoW


Key Takeaways

  • The Chinese government ambitious “Made in China 2025” plan to achieve independence from foreign supply for semiconductors and integrated circuits is likely to boost the growth of succinimide market. For instance, Succinimides are used as an electroless silver plating solution for electronic parts.
  • Increasing health concerns and huge spending of government on healthcare also fuel the growth of succinimide industry.
  • According to the World Trade Organization, the global trade will fall by between 13% and 32% in 2020 due to the outbreak of COVID-19 pandemic. The pandemic results in lockdown and discontinuation of global supply chain further hamper the growth of succinimide market.


Succinimide Market Segment Analysis - By Type

Polyisobutylene succinimide segment holds the largest share of more than 40% in the succinimide market in 2019. Polyisobutylene succinimides are produced by reacting polyisobutylene succinic anhydrides with amine. They are widely used to make dispersants that are used in tailor-made formulations to meet the challenging demand of engine oil. Polyisobutylene succinimide reduces the formation of deposits on metal surface and inhibit soot agglomeration due to stable micelle formation.  Polyisobutylene succinimide have a low order of acute toxicity based on the oral and dermal studies in animals. They do not undergo photo degradation. Owing to the above factors, demand for polyisobutylene is expected to grow during the forecast period.


Succinimide Market Segment Analysis - By Application

Oil additive segment is projected to grow with the fastest CAGR of around 8% in the succinimide market during the forecast period. Succinimides are widely used as detergent dispersant additive for gasoline and diesel engine oil. The use of succinimide help fuel and lubricants enhance the speed, strength, cleanliness, and durability of the vehicle. Detergent and dispersants are used to prevent the accumulation of varnish like deposits on the wall of the cylinder and also neutralizes the harmful effects of corrosive acids that are formed by the combustion of diesel and gasoline fuels. Succinimide dispersants keep vital engine parts clean along with prolonging the engine life and also help to maintain a proper emissions and good fuel economy. According to the U.S Energy Information Administration, total gasoline consumption in the United States accounted for about 58% of the total transportation sector energy consumption in 2019. Thus, huge gasoline demand further fuels the growth of succinimide market. 
Location: United States

Comments

Post a Comment

Popular posts from this blog

Printed Tape Market - Forecast(2021 - 2026)

  Printed Tape Market  Overview Printed tape market size is forecast to reach  $38.4 billion by 2026 , after growing at a  CAGR of 5.9% during 2021-2026 . Printed tapes can help in spotlighting company, product or logo and can be also used as an alternative for printed cartons in tapes, owing to the printed tape market is witnessing an increase in demand. These printed tapes are hot melt and have fast adhesive strength of synthetic rubber even in lower temperatures as compared to acrylic adhesive, which is more resistant to aging and UV radiation. However, it also gives free professional design assistance, alignments, and quality checks at every step which makes the seller feel protective towards their product and avoids black-marketing. Growing public interest towards printed tapes for packaging will further enhance the overall market demand for Printed tape during the forecast period. Covid Impact The worldwide spread of the COVID-19 pandemic has disrupted the trad...
Read more

Pet Care Market - Forecast(2021 - 2026)

  Pet Care Market Overview: According to the European Pet Food Industry Federation (FEDIAF), the daily diet requirement for a dog and a cat are 37 and 40 nutrients respectively. [1]  This daily requirement of nutrients is largely fulfilled by canned pet foods which throws light on the essentiality of pet products in modern-day life. Pet care is a lucrative market growing rampantly in U.S. and U.K. owing to growing instances of pet ownership in these regions. The pet care market also includes items for pet grooming, pet accessories, pet shops, pet essentials, pet care clinics, pet care insurance, and many others. As a result of this increase in pet adoption, consumers are now spending colossal amounts of their income on pet care thereby ballooning the demand for pet products. Furthermore, ease of pet training and grooming facilities has considerably boosted the global pet care market which offered opportunities worth $125 billion as of 2018. During the forecast period 2019-2025...
Read more

Occupant Classification System Market - Forecast(2021 - 2026)

Image
  Occupant Classification System Market Overview The global Occupant Classification System Market size is estimated to surpass  $1.1 billion mark by 2026  growing at a projected CAGR of more than  6.2%  during the forecast period 2021 to 2026. The surging demand for road safety in automobiles pertaining to driver safety and stringent government regulations related to occupant safety will boost the Occupant Classification Systems market. The market is driven by declining prices of the safety systems in passenger vehicles. The market is also driven by increasing number of accidents and stringent government regulations & policies. The automotive sector has seen a growing inclination towards the safety and comfort of the passenger over the years. This focus on safety of the passengers/driver is illustrated by the steps taken by automotive manufacturers, such as introduction of seat belt tensioners, air-bags and  ABS (anti-lock braking)  in the vehicles...
Read more