Muconic Acid

Muconic Acid

Global Muconic Acid Market to Reach US$180.8 Million by 2030

The global market for Muconic Acid estimated at US$123.0 Million in the year 2023, is expected to reach US$180.8 Million by 2030, growing at a CAGR of 5.7% over the analysis period 2023-2030. Carpets & Textiles Application, one of the segments analyzed in the report, is expected to record a 5.9% CAGR and reach US$93.1 Million by the end of the analysis period. Growth in the Plastics Application segment is estimated at 6.2% CAGR over the analysis period.

The U.S. Market is Estimated at US$32.5 Million While China is Forecast to Grow at 8.6% CAGR

The Muconic Acid market in the U.S. is estimated at US$32.5 Million in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$41.3 Million by the year 2030 trailing a CAGR of 8.6% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 2.8% and 5.1% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.5% CAGR.

Global Muconic Acid Market - Key Trends & Drivers Summarized

What Is Muconic Acid and How Is It Utilized in Various Industries?

Muconic acid is an organic compound that serves as a key intermediate in the manufacture of various commercially important chemicals. It is produced both naturally and synthetically and has applications in the production of plastics, resins, and textiles. Muconic acid is particularly valued for its role in the synthesis of adipic acid, a precursor to nylon, and terephthalic acid, used in polyester production. The versatility of muconic acid makes it a significant compound in the biochemical industry, where it is also being explored for use in biodegradable materials and as a component in pharmaceutical manufacturing.

How Are Biotechnological Advances Influencing Muconic Acid Production?

Biotechnological advances are significantly impacting the production of muconic acid, with research focused on developing biosynthetic pathways that can efficiently produce muconic acid from renewable resources. Genetic engineering and microbial fermentation are being utilized to optimize the production of muconic acid in an environmentally friendly and cost-effective manner. These methods not only help in reducing the reliance on petroleum-based chemicals but also align with global sustainability goals by minimizing environmental impact.

What Market Trends Are Shaping the Muconic Acid Industry?

The shift towards sustainable and eco-friendly products is a major market trend shaping the muconic acid industry. As consumers and regulatory bodies push for greener alternatives to traditional petrochemical-derived products, the demand for bio-based chemicals like muconic acid increases. This trend is particularly evident in industries such as textiles and plastics, where there is a growing preference for materials that are not only high in quality but also have a reduced environmental footprint. Additionally, advancements in industrial biotechnology that enable the cost-effective production of bio-based chemicals are influencing the market dynamics, increasing the competitiveness of muconic acid in various applications.

What Drives the Growth in the Muconic Acid Market?

The growth in the muconic acid market is driven by several factors. The rising demand for bio-based chemicals across various sectors, including plastics, textiles, and pharmaceuticals, is a significant driver. The ability of muconic acid to replace more environmentally damaging chemicals in many applications supports its adoption and market growth. Technological advancements that enhance the efficiency and yield of muconic acid production via biotechnological methods also contribute to market expansion. Moreover, increasing investments in research and development activities to discover new applications and improve existing processes further propel the growth of the muconic acid market, ensuring its ongoing relevance and expansion in the global chemicals industry.

Select Competitors (Total 41 Featured) -

• Chemsky (shanghai) International Co.,Ltd
• LGC Standards
• Parchem Fine & Specialty Chemicals
• Santa Cruz Biotechnology, Inc.
• Selleck Chemicals
• SimSon Pharma Limited
• Sisco Research Laboratories Pvt. Ltd.
• TCI America
• Thermo Fisher Scientific Inc.
• Toronto Research Chemicals

Please note: Reports are sold as single-site single-user licenses. Electronic versions require 24-48 hours as each copy is customized to the client with digital controls and custom watermarks. The Publisher uses digital controls protecting against copying and printing is restricted to one full copy to be used at the same location.

The latest version of Adobe Acrobat Reader is required to view the report. Upon ordering an electronic version, the Publisher will provide a link to download the purchased report.

Prior to fulfillment of an order, the client will be required to sign a document detailing the purchase terms for a publication from this publisher.