Global Muconic Acid Market to hit $60mn by 2024 | Top Key Players Sigma-Aldrich, Amyris, Dynacare, Thermo Fisher Scientific, Myriant Corporation, Deinove: Empowering bio-innovation, Santa Cruz Biotechnology (SCBT)

Plastic industry will be another important growth driver for muconic acid market in the forecast duration as the product acts as a chemical intermediate in production of polymer resins such as polyethylene terephthalate (PET), etc. Plastic finds variety of end-users such as films, bags, containers, etc., which are actively used in packaging industry. Thus, growing demand for plastic packaging products from food & beverage, electronics and consumer goods industry, will be positively influencing product demand during the forecast timeframe. Muconic acid also finds usage in lubricants production as viscosity modifier. Hence, growing demand for lubricants in end-users such as automobile, chemical and manufacturing industries will be accelerating product demand between 2017-2024.

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Global Muconic Acid Market to exceed USD 60 million by 2024; according to a new research report by Global Market Insights, Inc. Muconic acid market will be primarily driven by textile and plastics industry growth in the near future. Increasing per capita income of consumers, especially in Latin America and Asia Pacific, is directly increasing their expenditure budget, which implies improved living standards. This presents new growth opportunities for textile market players, which will directly influence muconic acid demand by 2024.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

1. Myriant Corporation
2. Deinove: Empowering bio-innovation
3. Santa Cruz Biotechnology (SCBT)
4. Amyris
5. Sigma-Aldrich
6. Dynacare
7. Thermo Fisher Scientific
8. Zhongxing Flavors & Fragrance
9. TCI
10. Alfa Aesar
11. Toronto Research Chemicals

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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.

Browse key industry insights spread across 192 pages with 231 market data tables & 23 figures & charts from the report, “Muconic Acid Market” in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/muconic-acid-market

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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