The global muconic acid market was worth US$ 85 Million in 2019. Muconic acid, denoted as COOH, is a chemical compound which occurs naturally and can also be sourced from sorbic acid and its salts. It is a dicarboxylic acid which includes two carboxylic functional groups. The derivative of muconic acid, including adipic acid and caprolactam are used for the production of various products such as PET and other polymers, carpets, textiles, lubricants and plastics which are further employed as primary raw materials in the manufacturing of cans, boxes, plastic bottles and pouches. The bio-production of muconic acid can also be used in the form of a platform for the purpose of producing numerous consumer bio-plastics which include polyurethane, nylon 66 and polyethylene terephthalate.
The textile industry is a major end user of muconic acid and is expected to exhibit a stable growth of around 3%-5% over the next five years driven by rising consumer spending particularly in emerging economies. This is expected to create a positive impact on the global muconic acid market. Additionally, muconic acid is primarily used for the production of plastics which finds its applications for the production of numerous products such as containers, bags, films, etc. Rising demand of packaged products are expected to drive the global plastic packaging industry. Moreover, there has also been a significant growth in the demand for lubricants in several end-use industries including chemical, automobile and manufacturing industries. This is also expected to create a positive impact on the global demand of muconic acid. Looking forward, IMARC Group expects the global muconic acid market to exhibit moderate growth during the next five years.
This report provides a deep insight into the global muconic acid market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the muconic acid industry in any manner.
Key Questions Answered in This Report:
The global muconic acid market was worth US$ 85 Million in 2019.
The global muconic acid market is expected to reach US$ 119.4 Million by 2025.
The use of muconic acid for the production of nylon 6,6, polyethylene terephthalate (PET) and polyurethane (PU) is bolstering the market growth. The market is further propelled by its application in the automobile and textile industries.
One of the significant market trends is the rising inclination toward bio-based products among end users, which is creating new opportunities for both the existing and new players in the industry.
Due to the spread of the coronavirus disease (COVID-19), top market players are currently facing difficulties in obtaining key components for manufacturing muconic acid, which has led to an industrial slowdown across the globe.
Based on the derivative, the market has been categorized into adipic acid, caprolactam, and others. Muconic acid is most extensively used for the production of adipic acid.
On the basis of the application, the market has been classified into carpets and textiles, plastics, lubricants and others. Among these, carpets and textiles represent the largest application area, dominating the market.
Region-wise, North America exhibits a clear dominance in the market. Other major regions are Asia Pacific, Europe, Middle East and Africa, and Latin America.
The leading players operating in the industry are Merck & Co., Inc.( Sigma-Aldrich Corporation), Deinove SAS, Amyris, Inc., Myriant Corporation, Santa Cruz Biotechnology, Inc., Dynacare, TCI Chemicals (India) Pvt. Ltd., Alfa Aesar, Thermo Fisher Scientific, Zhongxing Flavors & Fragrance Co. Ltd., and Toronto Research Chemicals Inc.
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