Muconic Acid Market Projected to Reach US$ 179.96 Mn. by year 2030

►Global Muconic Acid Market Poised for Robust Growth, Projected to Reach USD 179.96 Million by 2030

The global muconic acid market is experiencing significant growth, with projections estimating a market size of USD 179.96 million by 2030, expanding at a Compound Annual Growth Rate (CAGR) of 7.11% from 2024 to 2030. This surge is driven by the increasing demand for bio-based chemicals in industries such as plastics, textiles, and pharmaceuticals.

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►Competitive Landscape

The muconic acid market is characterized by the presence of several key players: Amyris, Thermo Fisher Scientific, Santa Cruz Biotechnology, Sigma-Aldrich Corporation, TCI, Toronto Research Chemicals, and Dynacare. Among these, Amyris holds approximately 22% of the market share, while Thermo Fisher Scientific accounts for about 18%.

Asia-Pacific emerges as the region with the highest demand, accounting for 42.15% of the global market share in 2024. This is attributed to the expanding chemical and textile industries in countries like China and India.

► Regional Insights

♦ United States: Growth and Consolidation in Muconic Acid Applications

In North America, particularly the United States, the muconic acid market is expected to register a CAGR of 7.2% during the forecast period. This growth is fueled by technological advancements aimed at reducing production costs and improving product quality.

Key Developments:

Thermo Fisher Scientific invested approximately $120 million to expand its biochemical production facilities in North America, aiming to meet the rising demand for bio-based polymers and specialty chemicals.

♦ Asia-Pacific: Opportunities and Trends Driving Market Expansion

Asia-Pacific holds a significant share of the muconic acid market, with China alone accounting for nearly 45% of the regional market share in 2024. The region's growth is propelled by government initiatives promoting bio-based manufacturing and increasing consumer awareness about environmental issues.

Key Developments:

Amyris announced a major investment of approximately $150 million in expanding its bio-manufacturing facilities in Brazil, aiming to increase the production of muconic acid-derived products.

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♦ Middle East & Africa: Emerging Trends and Market Opportunities

The Middle East and Africa (MEA) region is witnessing steady growth in the muconic acid market, driven by increasing demand for bio-based chemicals and sustainable materials. Countries like Saudi Arabia, South Africa, and the UAE are leading the market due to increased investments in biotechnology and chemical manufacturing sectors.

Key Developments:

Saudi Arabia is focusing on diversifying its economy under the Saudi Vision 2030 initiative, promoting investments in sustainable chemicals.

♦ Europe: Market Trends and Strategic Collaborations

Europe is witnessing steady growth in the muconic acid market, supported by stringent environmental regulations and increasing demand for sustainable materials. Germany, France, and the UK are major contributors, with Germany accounting for approximately 35% of the regional market share in 2024.

Key Developments:

Myriant completed a strategic agreement with a European chemical manufacturer to supply bio-based muconic acid for sustainable packaging.

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► Market Segmentation: In-Depth Analysis:

by Product

Trans, Trans-Muconic Acid
Cis, Cis-Muconic Acid
Cis, Trans-Muconic Acid

by Application

Carpets and textiles
Plastics
Lubricants

Over the course of the projected period, the plastics segment is anticipated to rise at a CAGR of xx%. Since plastic is inexpensive and has excellent strength and pressure resistance, it is widely utilized for packaging in many end-user industries. PET and other polymers, which are the primary ingredients of plastic bottles, pouches, cartons, and cans, are employed in the manufacturing of bioplastics. The demand for plastics is expected to rise during the forecast period due to the growing packaging industry. Furthermore, the primary driver of product demand throughout the projected period will be the increasing acceptability of bio-based production methods for muconic acid.

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► Learn about the top players driving innovation in the Market :

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

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