According to the latest report by IMARC Group, title “Muconic Acid Market Size: Global Industry Trends, Share, Growth, Opportunity and Forecast 2021-2026; the global muconic acid market reached a value of US$ 90.1 Million in 2020. Muconic acid, represented as COOH, refers to a chemical compound that occurs naturally and can also be sourced from sorbic acid. It is a dicarboxylic acid that includes two carboxylic functional groups. The derivatives of muconic acids, such as adipic acid and caprolactam, are utilized to produce various products, including PET, carpets, textiles, lubricants, plastics, etc. The bio-production of muconic acid is used in a platform to produce numerous consumer bioplastics, including polyurethane, nylon 66, polyethylene terephthalate, etc.
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The expanding textile industry, which is a significant end-user of muconic acid, is being driven by growing consumer spending, particularly in emerging economies. This, in turn, is bolstering the muconic acid market. In addition to this, the increasing utilization of muconic acid to produce plastics, including containers, bags, films, etc., is also augmenting the market growth. Moreover, the escalating demand for packaged products is expected to drive the global plastic packaging industry. Additionally, the rising need for lubricants in several end-use industries, including chemical, automobile, and manufacturing, is anticipated to fuel the muconic acid market in the coming years. Looking forward, IMARC Group expects the market to grow at a CAGR of 7.3% during 2021-2026.
Competitive Landscape with Key Players:
- Myriant Corporation
- Santa Cruz Biotechnology
- Merck
- Deinove
- Amyris
- Sigma-Aldrich Corporation
- Dynacare
- Thermo Fisher Scientific
- Zhongxing Flavors & Fragrance
- TCI
- Alfa Aesar
- Toronto Research Chemicals
Key Market Segmentation:
Breakup by Derivative:
- Adipic Acid
- Caprolactam
- Others
Breakup by Application:
- Carpets and Textiles
- Plastics
- Lubricants
- Others
Breakup by Region:
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
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Key highlights of the report:Â Â Â
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Market Trends
- Market Drivers and Success Factors
- The Impact of COVID-19 on the Global Market
- Value Chain Analysis
- Structure of the Global Market
- Comprehensive mapping of the competitive landscape
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