This data is a detailed record of the status of factories located in Yeongcheon-si, Gyeongsangbuk-do. It includes key information such as company names, representative names, factory addresses, industries, products, land areas, and building areas of various industries located in Yeongcheon-si, and is useful data for understanding the regional industrial structure and distribution of companies. This data covers factory information in various industries such as automobile parts, plastics, metals, stone, textiles, and food, and provides detailed addresses, products, production scale, and areas for each company, allowing you to see the status of regional industries at a glance. In order to protect personal information, some of the data, such as the representative name and phone number, have been symbolized or left blank. If you have any questions regarding this data, please contact the Yeongcheon-si Business Attraction Division.

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Industrial Machine Vision Market Size 2024-2028

The industrial machine vision market size is forecast to increase by USD 5.22 billion at a CAGR of 9.45% between 2023 and 2028.

The industrial machine vision market is driven by significant cost savings in operation due to process control, as automated vision systems improve production efficiency, reduce errors, and lower labor costs. An upcoming trend in the market is the rise in demand for industrial IoT (IIoT).
As industries increasingly connect machines and devices through IoT, machine vision systems are integrated to provide real-time data, enhance decision-making, and further streamline operations, driving the growth of smart manufacturing and automation.
However, the deployment of machine vision presents certain technical challenges, such as ensuring compatibility with various industrial environments and addressing data processing requirements.

What will be the Size of the Industrial Machine Vision Market During the Forecast Period?

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The market is experiencing significant growth due to the increasing demand for automation and productivity enhancements in various industries. Machine vision systems enable automated quality inspection, process control, and measurement applications, replacing manual processes and reducing labor costs. 
The market is particularly relevant to sectors such as automotive, pharmaceutical, and chemical, where high-precision inspection and real-time decision-making are crucial. Integration challenges and cybersecurity concerns, including potential cyber-attacks, are key considerations for market participants.
The adoption of smart factories, AI vision processors, and robotics, including vision-guided robotic systems, is driving market expansion. These technologies enable advanced image processing capabilities, enabling real-time decision-making and ensuring product quality and safety standards in production processes.
Overall, the market is poised for continued growth, offering significant opportunities for innovation and improvement in manufacturing and industrial automation.

How is this Industrial Machine Vision Industry segmented and which is the largest segment?

The industrial machine vision industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Product Type

  PC-based
  Smart camera


Component

  Hardware
  Software


Geography

  APAC

    China
    Japan


  North America

    Canada
    US


  Europe

    Germany


  Middle East and Africa



  South America

By Product Type Insights

The pc-based segment is estimated to witness significant growth during the forecast period.

Industrial machine vision systems, a critical component of smart factories and automation, enable real-time decision-making through image processing and analysis. These systems consist of hardware, such as cameras, sensors, processors, and frame grabbers, and software, including machine vision algorithms and deep learning capabilities. PC-based systems offer high processing power, multi-camera support, and integration with IoT and collaborative robotics. They are used extensively in sectors like automotive, pharmaceuticals, and consumer electronics for quality control, robot guidance, and defect detection. Challenges include integration issues, cyber-attacks, and training requirements. Vision-guided robots, a growing application area, offer increased operational efficiency and safety standards. Embedded vision applications in areas like healthcare, agriculture, and security surveillance are also on the rise. Vision processors, AI, and deep learning software play a crucial role in enhancing the functionality of these systems.

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The PC-based segment was valued at USD 4.21 billion in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

APAC is estimated to contribute 36% to the growth of the global market during the forecast period.

Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

For more insights on the market share of various regions, Request Free Sample

The market in Asia Pacific (APAC) is experiencing significant growth due to the availability of innovative and cost-effective cameras from companies In the region. Key drivers for market expansion include the increasing adoption of industrial machine vision systems in sectors such as automotive and electronics in countries like China, Japan, India, Indonesia, Malaysia, and South Korea. These countries are emerging as major players In the industrial machine vision

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Industrial Automation Software Market Size 2024-2028

The industrial automation software market size is forecast to increase by USD 4.80 billion at a CAGR of 2.34% between 2023 and 2028.

The market is experiencing significant growth due to the increasing need to reduce operational expenses in various industries. One trend driving market growth is the integration of Product Lifecycle Management (PLM) and Enterprise Resource Planning (ERP) systems into industrial automation software. This integration enables seamless data flow between departments, improving efficiency and productivity. However, the market also faces challenges, including the rising threat of cybersecurity attacks. As industries increasingly rely on digital technologies, securing these systems against cyber threats becomes crucial to prevent potential disruptions and data breaches. Companies must prioritize cybersecurity measures to mitigate risks and ensure business continuity.

What will be the Size of the Industrial Automation Software Market During the Forecast Period?

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The market in the US is experiencing significant growth, driven by the increasing adoption of Industry 4.0 and digital industrial technologies in automation-driven industries. Enterprise-level solutions, including Product Lifecycle Management (PLM) systems, Human Machine Interface (HMI) software, and Manufacturing Execution Systems (MES), are gaining popularity for enhancing work efficiency and reducing human errors. The cloud-based segment is also witnessing increased demand due to its flexibility and accessibility, enabling 24/7 operations and system integration capabilities.
Additionally, automation software processes are being adopted across various sectors, including automotive, chemicals and materials, oil and gas, and paper and pulp, to streamline automatic operations and optimize production. The trend towards on-cloud solutions and distributed control systems is expected to continue, addressing the need for skilled labor and time efficiency in the process and discrete industries.

How is this Industrial Automation Software Industry segmented and which is the largest segment?

The industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Product

  SCADA software
  MES
  DCS software
  HMI software
  PLC software


End-user

  Process industry
  Discrete industry


Geography

  APAC

    China
    Japan


  North America

    US


  Europe

    Germany
    UK


  Middle East and Africa



  South America

By Product Insights

The SCADA software segment is estimated to witness significant growth during the forecast period.

SCADA systems play a crucial role in automating industrial processes by performing functions such as data acquisition, communication, presentation, and control. These systems are essential for monitoring and gathering real-time data from various industries, including mining and metals, food and beverages, and power. By interacting with devices such as sensors, pumps, valves, and other monitoring equipment, SCADA software enables remote process monitoring and optimization. The increasing demand for operational efficiency and cost optimization has led to the growing adoption of SCADA systems. However, with the rise of cyber threats such as Legal violations and Denial-of-Service Attacks, there is a growing need for advanced security features like Multi-Factor Authentication and Remote wipe technologies to ensure data security. SCADA systems are integral to industrial automation, enabling seamless communication between Programmable Logic Controllers (PLCs) and computers, ultimately optimizing industrial processes.

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The SCADA software segment was valued at USD 13.39 billion in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

APAC is estimated to contribute 49% to the growth of the global market during the forecast period.

Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

For more insights on the market share of various regions, Request Free Sample

The market in APAC is anticipated to experience significant growth, particularly in sectors such as power, oil and gas, automotive, and pulp and paper. In the power industry, countries like Myanmar and Australia are investing heavily in power generation and distribution, with Myanmar aiming to electrify the entire country by 2030 through coal-fired power plants, and Australia generating over 17% of its power mix from renewable energy in 2016. Furthermore, investments in smart cities in India, Japan, Sout

This is an API that allows you to look up the daily status of major accidents in the construction industry. It provides work type, cause, accident type, accident overview, and risk reduction measures. ※ callApiId = 1010 (Required as a fixed value) ※ This data analyzes fatal accidents that occurred in the construction industry between 2017 and 2021, and derives high-risk work, accident occurrence situations, and major causal factors that can cause serious injuries or more. ※ Since the work environment of each workplace may be different, please refer to this data to identify high-risk work and accident-causing factors considering the environment and work characteristics. ※ Since the work environment of each workplace may be different, please refer to the data to identify high-risk work and accident-causing factors considering the workplace environment and work characteristics.

The data refers to Reserves, Consumption, Production and Import & Export of Petroleum Products, Crude Oil and Natural Gas in India.

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Industrial Air Compressor Market Size 2024-2028

The industrial air compressor market size is forecast to increase by USD 9.68 billion at a CAGR of 5.06% between 2023 and 2028.

The market is witnessing significant growth due to the increasing adoption of these systems in various industries. The demand for energy-efficient solutions is driving the market, as industries seek to reduce their carbon footprint and lower operating costs. Additionally, fluctuating prices of raw materials for air compressors are influencing the market dynamics. 
Energy-efficient industrial air compressors are becoming increasingly popular as companies strive to minimize their energy consumption and reduce production costs. The market is expected to continue its growth trajectory in the coming years, as the need for reliable and efficient compressed air solutions, including portable air compressors, persists across industries.

What will be the Size of the Industrial Air Compressor Market During the Forecast Period?

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The market in the United States is experiencing significant growth, driven by the increasing industrialization in various sectors such as the oil & gas industry, food & beverage, and pharmaceuticals. Asia Pacific countries are also key contributors to market expansion due to their rapid industrial development.
Sustainability and environmental concerns are increasingly influencing market dynamics, with strict regulations promoting the adoption of sustainable technology and energy-efficient products. High-quality air is essential in industries like oil and gas and steel, leading to a focus on advanced product innovation, including oil-filled and oil-free air compressors with varying operating modes and power ranges.
The market is moderately concentrated, with key players investing in research and development to meet evolving customer needs and expectations. Lubrication systems are also a critical consideration in the selection and operation of industrial air compressors. Prices of crude oil and economic conditions can impact demand, but overall, the market is expected to continue its robust growth trajectory.

How is this Industrial Air Compressor Industry segmented and which is the largest segment?

The industrial air compressor industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

End-user

  Chemicals and petrochemicals
  Food and beverages
  Pharmaceuticals
  Construction
  Others


Type

  Stationary
  Portable


Geography

  APAC

    China
    Japan


  North America

    US


  Europe

    Germany
    UK


  South America



  Middle East and Africa

By End-user Insights

The chemicals and petrochemicals segment is estimated to witness significant growth during the forecast period.

Industrial air compressors are essential equipment in various industries, including food and beverage and pharmaceuticals, for powering pneumatic tools and processes. Stationary industrial air compressors, in particular, are preferred due to their larger capacities and ability to store a greater volume of compressed air. These compressors, which are designed for fixed installation, are typically larger in size and require a continuous power supply from the AC main. They are commonly used in applications that demand high cubic meters of compressed air and uninterrupted supply. The steel industry and crude oil production are significant consumers of stationary industrial air compressors due to their energy-intensive processes. Product innovation and advancements in technology continue to drive the market, with manufacturers focusing on energy efficiency and reducing maintenance costs.

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The Chemicals and petrochemicals segment was valued at USD 7.94 billion in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

APAC is estimated to contribute 51% to the growth of the global market during the forecast period.

Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

For more insights on the market share of various regions, Request Free Sample

The market in the Asia Pacific (APAC) region is driven by the significant growth of key end-users, including the automobile, food and beverage, construction, and chemical industries. In the automotive sector, industrial air compressors are utilized for various applications such as tire inflation, air-operated robots, product finishing, plasma cutting, welding, and painting. APAC's automotive industry is experiencing a strong expansion, with rising production and sales

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Thermal Paper Market Size 2024-2028

The thermal paper market size is forecast to increase by USD 909.2 million at a CAGR of 3.4% between 2023 and 2028.

The market is experiencing significant growth due to several key drivers. The increasing trend toward cashless transactions is one major factor, as more businesses adopt point-of-sale (POS) systems and electronic receipts. Additionally, favorable government initiatives, such as incentives for eco-friendly practices, are encouraging the adoption of renewable thermal paper processes and the use of recycled thermal paper. Additionally, the use of thermal paper is expanding in the warehousing and logistics sectors for labeling and tracking purposes. The demand for high-quality thermal paper with excellent color retention and durable surfaces is also driving market growth. As consumers and businesses continue to prioritize sustainability, there is a growing interest in eco-friendly paper solutions.

What will be the Size of the Thermal Paper Market During the Forecast Period?

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The market is a significant segment In the larger printing industry, primarily used for various applications in retail, logistics, healthcare, education, and food industries. This market is driven by the increasing demand for efficient labeling and ticketing solutions in various sectors. They play a crucial role in various industries, including retail stores, warehouses, and POS terminals. In retail, tit is extensively used for producing cash register receipts, price tags, and labels. In logistics, it is used for creating shipping labels and tracking documents. In healthcare, it is used for producing patient records and labels.
In education, it is used for creating attendance records and labels for student belongings. In the food industry, particularly in packaged food, it is used for printing expiration dates and nutritional information. The market is witnessing growth due to several factors. The need for efficient labeling and ticketing solutions is driving the demand. Retail chains, grocery chains, and inventory systems rely heavily on thermal paper for their labeling processes. The use of thermal paper in POS systems is also increasing due to its direct heat solutions, which provide quick and accurate results. Moreover, the trend towards eco-friendly and renewable processes is influencing the market.

How is this Thermal Paper Industry segmented and which is the largest segment?

The industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Application

  PoS
  Tags and labels
  Lottery and gaming
  Others


Geography

  North America

    US


  Europe

    Germany
    UK
    France


  APAC

    China


  South America



  Middle East and Africa

By Application Insights

The PoS segment is estimated to witness significant growth during the forecast period.

In the business world, Point of Sale (PoS) receipts have become an essential component of transactions, whether it's a purchase of goods or a service. These receipts are generated at various retail outlets, including grocery stores, supermarkets, hypermarkets, convenience stores, restaurants, clubs, gas pumps, and parking lots. PoS receipts come in various forms, such as grocery receipts, restaurant receipts, and parking receipts. Thermal paper is the primary material used to produce these receipts due to its ability to produce high-quality prints. companies provide thermal paper with advanced features, including imaging on both sides, graphics capabilities, and barcode and logo imaging.

The market caters to various industries, including pharmaceuticals, commercial printing, and educational materials. Direct thermal technology is widely used in the production of thermal paper, making it an ideal choice for PoS receipts due to its ability to produce high-quality images without the need for additional heat or pressure. Moreover, thermal paper is suitable for flexographic and ultraviolet (UV) lithography printing, further expanding its applications. Additionally, it is used in other industries, such as shipping labels, kiosk cards, tourist tags, and RFID identification. Noise reduction is a crucial factor In thermal paper production, ensuring clear and legible prints.

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The PoS segment was valued at USD 2.35 billion in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

Europe is estimated to contribute 32% to the growth of the global market during the forecast period.

Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

For more insig

This dataset is about companies. It has 1 row and is filtered where the company is LOOK LATERAL. It features 30 columns including city, country, employees, and employee type.

Australia's Forests at a Glance 2014 is a pocket-book compendium of data and information about Australia's native forests and industrial plantations. Much of the data is current to 2012-13 and all has been published in detailed reports.

The pocket-book covers forest types, areas and how native forests - including old growth forests - are conserved and managed. It also covers wood harvesting, production and consumption of wood products and employment in the forestry and wood products industries, forest certification and codes of practice.

Electronic skin sales in Japan are expected to earn US$ 74.5 million in 2023. The demand for electronic skin in Japan is expected to achieve US$ 146.5 million by 2033, with a CAGR of 18% from 2023 to 2033.

Attributes	Details
Demand Analysis (2023)	US$ 74.5 million
Demand Forecast (2033)	US$ 146.5 million
CAGR Estimation (2023 to 2033)	18%

Category-wise insights

Segment	Segment Share
Electr-active Polymers	32.9%
Stretchable Conductors	29.2%

Segment	Segment Share
Consumer Electronics	23.5%
Retail	18.9%

Scope of the Report

Attribute	Details
Estimated Valuation (2023)	US$ 74.5 million
Projected Valuation (2033)	US$ 146.5 million
Anticipated CAGR (2023 to 2033)	18%
Historical Analysis of Electronic Skin in Japan	2018 to 2022
Demand Forecast for Electronic Skin in Japan	2023 to 2033
Quantitative Units	Revenue in US$ million and CAGR from 2023 to 2033
Report Coverage	Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis
Key Companies Profiled	Sekisui Chemical Co., Ltd. Mitsubishi Electric Corporation Panasonic Corporation Nitto Denko Corporation Sony Corporation

Credit report of Glance Of Beauty Llc contains unique and detailed export import market intelligence with it's phone, email, Linkedin and details of each import and export shipment like product, quantity, price, buyer, supplier names, country and date of shipment.

Spain import data: Discover the vital role of imports in Spain's diverse economy, its trade partners, and the strategy to promote growth.

The Global Engineering Services industry has expanded alongside a recovery of markets worldwide, prompting new investment that has fueled projects across key markets including the United States, Europe and East Asia. The economic environment has enabled downstream industries to invest in ventures involving engineering services, with higher production levels in OECD countries translating to new facilities, factories and other structures. Despite ongoing inflationary pressures, public sector investments have produced stable spending on infrastructure projects necessitating engineering expertise. As a result, industry revenue is forecast to expand at a CAGR of 5.3% over the past five years to total $2.0 trillion in 2025. With investments like the Infrastructure Investment and Jobs Act in the United States continuing to pour money into infrastructure projects, industry revenue is expected to grow 2.0% in 2025 alone. Engineering services will continue to orient toward substantial sustainable practices, supporting projects that shift away from fossil fuels toward renewables. Driven by regulations like the European Union's Green Deal targeting carbon neutrality by 2050, renewable energy investment surpassed $2.0 trillion in 2024 according to the International Energy Agency. Consequently, engineering services firms will see revenue growth from sustainable infrastructure projects, like the recently completed Hornsea 2 offshore wind farm in the United Kingdom. In the coming years, the industry will intensify its focus on circular economy models, minimizing waste through reuse and recycling. Companies will look to embrace innovative construction methods, like modular buildings, using sustainable materials. Engineering businesses will play a vital role in implementing sustainable projects worldwide, keeping healthy profit margins stable.As global economies continue to expand, especially in Asia and North America, private investment will create a plethora of opportunities for engineering firms. India and China's ongoing development will be a critical driver of growth, while Europe's aging infrastructure, notably in Germany will trigger substantial retrofit investments, creating new, worldwide spending on engineering services. As a result, the industry revenue is projected to grow at a CAGR of 2.0% over the next five years to reach $2.2 trillion in 2030. With sustainability practices expected to redefine building practices and technological advancements underpinning a reshaping of engineering workforces, strategic transactions will accelerate as larger firms look to solidify their market positions through acquisitions.

In 2023, the average wage in private industry in Alabama was at 58,993 U.S. dollars. This was nearly half of the annual average wages per employee in the District of Columbia, at 112,048 U.S. dollars. That year, the District of Columbia, Massachusetts, and New York were the top ranked states in terms of average wages per employee.

This dataset, compiled by NREL using data from ABB, the Velocity Suite (http://energymarketintel.com/) and the U.S. Energy Information Administration dataset 861 (http://www.eia.gov/electricity/data/eia861/), provides average residential, commercial and industrial electricity rates with likely zip codes for both investor owned utilities (IOU) and non-investor owned utilities. Note: the files include average rates for each utility (not average rates per zip code), but not the detailed rate structure data found in the OpenEI U.S. Utility Rate Database (https://openei.org/apps/USURDB/).

[Keywords] Market include Titan Industries, Fresh look, Cooper Vision, Ciba Vision, Auro Lab

This timeline provides information about the number of companies active in the eyewear industry in Italy between 2012 and 2020. A glance at the graph reveals that the number of enterprises in the Italian eyewear industry has slightly decreased over time, going from 880 companies as of 2012 to 860 by the end of 2020.

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Industrial Gas Storage Cabinets Market Size 2024-2028

The industrial gas storage cabinets market size is forecast to increase by USD 393.2 million at a CAGR of 4.5% between 2023 and 2028.

The market is experiencing significant growth due to several key trends. Rising safety regulations for handling industrial gases are driving the need for advanced storage solutions, such as gas cabinets, to ensure the safe and efficient handling of these gases. Eco-friendly and sustainable storage solutions, such as fuel cell technology, are gaining popularity due to their environmental benefits. Furthermore, the ability to store gases In the form of hydrates offers advantages in terms of reducing transportation costs and minimizing the risk of leakages. Regulatory standards mandate advanced safety systems, such as automatic pressure relief valves, locking mechanisms, and containment trays, to ensure the safe handling and storage of these gases. Additionally, fluctuations in oil and gas prices continue to impact the market, with the increasing adoption of natural gas as a cleaner alternative to traditional fossil fuels boosting demand for industrial gas storage solutions. Overall, these factors are contributing to the growth and evolution of the market.

What will be the Size of the Market During the Forecast Period?

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The industrial gas storage cabines market encompasses a range of applications, primarily centered around compressed air, nitrogen, and oxygen. This sector caters to various industries, including healthcare, laboratories, manufacturing, and chemical sectors, where workplace safety is paramount.
Market trends include the adoption of eco-friendly storage solutions, like wet and dry storage cabinets, which minimize gas loss and reduce environmental impact. Automation and integration with ventilation systems further enhance safety and efficiency. The market also witnesses growing demand for industrial gases from renewable energy sources, such as biogas and hydrogen, as part of the clean technologies movement. Gas cylinders continue to be a significant component of the market, but the shift towards advanced storage solutions is gaining momentum.

How is this Industry segmented and which is the largest segment?

The industrial gas storage cabinets industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

End-user

  Oil and gas industry
  Chemical industry
  Others


Geography

  North America

    US


  Europe

    Germany
    France


  APAC

    China
    Japan


  Middle East and Africa



  South America

By End-user Insights

The oil and gas industry segment is estimated to witness significant growth during the forecast period.

Industrial gas storage cabinets are essential components in various industries, particularly In the oil and gas sector, due to increasing safety regulations. OPEC countries, as significant oil and gas exporters, represent a substantial market for these cabinets. The growing industrialization and economic expansion in developing countries like India, Brazil, Russia, China, and Indonesia, coupled with the rising demand for steel, iron, glass and ceramics, automotive and transportation, and chemical and petrochemical industries, fuel the need for industrial gases. Consequently, the demand for industrial gas storage cabinets is on the rise. These cabinets are used to store compressed air, nitrogen, oxygen, and other gases.

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The oil and gas industry segment was valued at USD 609.00 million in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

North America is estimated to contribute 51% to the growth of the global market during the forecast period.

Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

For more insights on the market share of various regions, Request Free Sample

Industrial gas storage cabinets are essential for the secure and safe storage and transportation of compressed air, nitrogen, oxygen, and other industrial gases in sectors such as manufacturing, healthcare, laboratories, biogas, hydrogen, and renewable energy sources. The North American market is experiencing significant demand for industrial gases due to their extensive use in industries like construction, automotive, and electronics. For instance, the growth of the residential construction sector in North America is fueling the demand for industrial gases from the glass industry. However, workplace safety and regulatory standards are paramount concerns as the use of industrial gases incre

Over the past decade, Georgia's industrial sector has grown steadily, attracting a variety of enterprises, from auto companies to aeronautics firms. The Peach State is a solid market in which to do business and today we're providing an overview on the state's manufacturing sector, based on data collected by MNI and taking a look at its most powerful companies.

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Succinic Acid Market Size 2024-2028

The succinic acid market size is forecast to increase by USD 261 million at a CAGR of 10.87% between 2023 and 2028.

The market is witnessing significant growth due to the increasing application of succinic acid in various industries. One of the key driving factors is the rising popularity of bio-succinic acid, which is derived from renewable sources and is gaining traction due to its eco-friendly nature. Another growth factor is the high competition among companies, leading to innovation and product development. This acid finds applications in personal care, cosmetics, coating, and other industries However, challenges such as high production costs and stringent regulations are hindering market growth. Despite these challenges, the market is expected to grow steadily due to the increasing demand in various end-use industries, particularly In the production of polymers and resins. Overall, the market presents significant opportunities for growth and innovation.

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The market encompasses the production and trade derived from both petroleum and bio-based sources. This versatile organic compound is widely used in various industries, including plastics, polymers, and the production of diethylmaleate, fumaric acid, glyoxylic acid, and other related chemicals. In the plastics industry, it is employed In the production of PBS/PBT resins, while In the food and beverage sector, it is used as a food additive and In the production of 1,4-BDO, dimethyl succinate, and ferrous succinate.
Additionally, the market dynamics are influenced by factors such as increasing demand for bio-based acid due to its lower carbon footprint compared to petro-based sources, as well as the growing trend towards reducing CO2 emissions. The fermentation of sugars is a common method used to produce bio succinic acid, making it an attractive alternative to petroleum-derived succinic acid.

How is this Industry segmented and which is the largest segment?

The research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Type

  Petro-based
  Bio-based


End-user

  Industrial
  Coatings
  Pharmaceuticals
  Others


Geography

  Europe

    Germany
    Italy


  North America

    Canada
    US


  APAC

    China


  South America



  Middle East and Africa

By Type Insights

The petro-based segment is estimated to witness significant growth during the forecast period.

Succinic acid, a dicarboxylic acid, is derived from petroleum-based feedstocks, primarily maleic anhydride, for commercial production. This approach offers cost advantages due to the abundance and affordability of petroleum resources. Petroleum-based production ensures a consistent and reliable process, mitigating the yield inconsistencies associated with fermentation methods. The expanding demand for eco-friendly plastics and materials has further boosted the market. Applications include the production of polymers like polytetrahydrofuran, polybutylene succinate, and 1,4-butanediol, as well as coatings, automotive industries, and personal care products. Additionally, it is used In the manufacturing of fumaric acid, glyoxylic acid, and various derivatives such as dimethyl succinate, disodium succinate, and N-bromosuccinimide. The chemical is also employed as a raw material In the production of various renewable chemicals and performance materials.

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The petro-based segment was valued at USD 137.10 million in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

North America is estimated to contribute 36% to the growth of the global market during the forecast period.

Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

For more insights on the market share of various regions, Request Free Sample

It is a versatile chemical used extensively in various industries, including pharmaceuticals, food and beverage, personal care, and coating. In 2023, Europe led The market, driven by the increasing consumption of bio-based chemicals in end-use sectors. Key European countries, such as Germany, Italy, and the UK, dominate the market due to their large consumer bases and numerous industries utilizing it. The demand for bio-based materials In the paints and coating industries is driving the growth of the market in Europe. Additionally, the production of 1,4-butanediol (BDO), polyurethanes, plasticizers, and alkyd resins for construction, pharmaceuticals, food packaging, and automotive industries is expected to