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Muconic Acid Market size will witness 6.5% CAGR during the projected timespan.

U.S. muconic acid market size, by application, 2013 - 2024 (USD Million)

U.S. muconic acid market size, by application, 2013 - 2024 (USD Million)

Muconic Acid Market size is forecast 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.

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.

Make an Inquiry before buying this report @ https://www.gminsights.com/inquiry-before-buying/2171

Browse key industry insights spread across 192 pages with 231 market data tables & 23 figures & charts from the report, “Muconic Acid Market Size By Derivatives (Adipic Acid, Caprolactam), By Application (Plastics, Carpets & Textiles, Lubricants), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, China, India, Japan, Australia, Indonesia, Malaysia, Brazil, South Africa, GCC), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024” in detail along with the table of contents:

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


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.

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.

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.

Request for a sample of this research report @ https://www.gminsights.com/request-sample/detail/2171

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.

Related Report:

Polyester Fiber Market Size By Grade (PET, PCDT), By Product (Solid, Hollow), By Application (Carpets & Rugs, Non-Woven Fabrics, Fiberfill, Apparels, Home Textiles), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, China, India, Japan, Australia, Indonesia, Malaysia, Brazil, Mexico, South Africa, GCC), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024
https://www.gminsights.com/industry-analysis/polyester-fiber-market

About Global Market Insights, Inc.

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Contact Us

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766

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