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- Global Muconic Acid Market Impelled by Inclination Towards Bio-Based Products
Global Muconic Acid Market to Reach US$ 174.6 Million by 2032, Impelled by Inclination Towards Bio-Based Products
March 28, 2019
| Chemical & Materials
As per the recent market research report by IMARC Group, titled “Muconic Acid Market Report by Derivative (Adipic Acid, Caprolactam, and Others), Application (Carpets and Textiles, Plastics, Lubricants, and Others), and Region 2024-2032”, the global muconic acid market reached a value of US$ 109.6 Million in 2023. Muconic acid is a hexadienedioic acid with the chemical formula C6H6O4. It is a high-value bio-product with conjugated double bonds and reactive dicarboxylic groups. The acid can be derived in three isomers, namely trans, trans-muconic acid; cis, cis-muconic acid; and cis, trans-muconic acid. It has garnered potential applications in the manufacturing of bio-plastics, agrochemicals, pharmaceuticals, new functional resins and food additives. Apart from this, it is also used in the commercial production of bulk chemicals like trimellitic acid, adipic acid, terephthalic acid and caprolactam. These compounds are further utilized for manufacturing textiles, lubricants, carpets and plastics.
Global Muconic Acid Market Drivers:
Muconic acid has gained popularity in several sectors as a base chemical. Adipic acid, one of its derivatives, is extensively used for the production of nylon 6,6, polyethylene terephthalate (PET) and polyurethane (as an intermediate). Nylon fibers further find applications in the automobile and textile industries. Caprolactam is also utilized in the making of film coatings, paint, synthetic leather, brush bristles and textile stiffeners. Further, recent innovations have encouraged the production of muconic acid via genetically modified microbial species. In confluence with this, rising inclination towards bio-based products among users is creating new opportunities for both the existing and new players in the industry. As a result of these factors, the market is anticipated to grow at a CAGR of 5.2% during the forecast period (2024-2032), reaching a value of US$ 174.6 Million by 2032.
Market Summary:
- On the basis of derivatives, the market has been divided into adipic acid, caprolactam and others. As there is a high demand for adipic acid across different sectors, muconic acid is mostly used in its production.
- Some of the major application areas of this acid include carpets and textiles, plastics and lubricants. Amongst these, the carpets and textiles segment represents the largest application area, holding the dominant share.
- Region-wise, North America is the leading market, accounting for the majority of the market share. Asia Pacific, Europe, Middle East and Africa, and Latin America are the other major markets.
- According to the analysis of the competitive landscape, Santa Cruz Biotechnology Inc., Merck KGaA, Amyris Inc., Dynacare (Laboratory Corporation of America Holdings), Thermo Fisher Scientific Inc., Tokyo Chemical Industry (India) Pvt. Ltd., Toronto Research Chemicals Inc. are the key players operating in the muconic acid industry.
Report Scope:
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Units | US$ Million |
| Segment Coverage | Derivative, Application, Region |
| Region Covered | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
| Companies Covered | Santa Cruz Biotechnology Inc., Merck KGaA, Amyris Inc., Dynacare (Laboratory Corporation of America Holdings), Thermo Fisher Scientific Inc., Tokyo Chemical Industry (India) Pvt. Ltd., Toronto Research Chemicals Inc. |
| Customization Scope | 10% Free Customization |
| Report Price and Purchase Option | Single User License: US$ 3899 Five User License: US$ 4899 Corporate License: US$ 5899 |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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