Global Muconic Acid Market Top Key Players: Myriant Corporation, Deinove, Santa Cruz Biotechnology, Amyris, Sigma-Aldrich Corporation, Dynacare, Thermo Fisher Scientific, Zhongxing Flavors & Fragrance, TCI, Alfa Aesar, Toronto Research Chemicals

In 2016, adipic acid accounted for largest share in global muconic acid market due to its extensive usage in multiple end-user industries. Adipic acid, produced from hydrogenation of muconic acid, is a main ingredient in the nylon production. Nylon is an important fabric in textile due to its shining texture and smooth feel. Thus, product demand will be directly proportional to textile market growth, which is poised to expand at a significant CAGR in the forecast duration. Caprolactam is another important derivative of muconic acid, that is used in nylon production. Other uses of caprolactam include production of synthetic fibers such as textile stiffeners, brush bristles, synthetic leather, cross-linking of polyurethane and film coatings.

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In 2016, carpet & textile segment held a major chunk of overall muconic acid market. Global textile industry is growing exponentially since past few years. Nylon is commonly used in making carpets & garments and experiences huge demand from across the globe. Thus, product will experience huge demand from textile industry in the next few years.

The global muconic acid market is projected to have a significant demand from the textiles industry by 2024. As per the trends presented by FICCI in 2014, North America and Europe held strong positions in textile production with the respective market shares of 14% and 36%. Growing spending capabilities of consumers in Asia Pacific and Latin America are likely to provide new development opportunities for textile industry participants in the near future. The global textile industry will rise with a CAGR exceeding 4% by 2024, which will drive the muconic acid potential over the forecast period.

Manufacturing of polymer resins; for instance, polyethylene terephthalate (PET) involves a significant role of muconic acid as a chemical intermediate. The plastics industry has been witnessing a growth of over 7% in the recent years and will follow parallel growth trends by 2024 for muconic acid market over the forecast period. The Association of Plastic Manufacturers stated polyolefins to have over 50% share in the global plastic materials demand for the year 2015. Upward demand trends from the various end-use industries, such as consumer goods, electronics, and food & beverage for the plastic packaging products, will have a positive impact on the muconic acid market by 2024.

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Muconic Acid Market, Derivatives By Application
o Adipic acid
o Plastics
o Carpets & textiles
o Lubricants
o Others
o Caprolactam
o Plastics
o Carpets & textiles
o Lubricants
o Others
o Others
o Plastics
o Carpets & textiles
o Lubricants
o Others
Muconic Acid Market, By Application
o Plastics
o Carpet & textile
o Lubricants
o Others

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North America is likely to witness significant CAGR by 2024 for muconic acid market and held a prominent market share in 2016, in terms of volume and revenue. North America has huge and mature automobile industry, which is one of the biggest users of lubricants. The product is used in lubricants to modify viscosity. Thus, increasing demand for lubricants in automobile industry, will ultimately propel product demand for lubricants over the next few years.

Asia Pacific, led by China, will expand at a CAGR close to 6.5% during the forecast timeframe. Asia Pacific is a leading textile producer and an enormous market for the plastic packaging industry. Both, plastic and textile industries in APAC are flourishing at exponential rates, which clearly indicates positive growth prospects for product demand over the forecast duration.

In 2016, the muconic acid market was competitive. Key market players include Alfa Aesar, Thermo Fisher, Sigma-Aldrich Corporation, Myriant Corporation and Amyris. These held for more than half of global industry share. Companies are engaged in upgrading technologies for exploring numerous ways to produce muconic acid.

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