Muconic Acid Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Muconic Acid Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global muconic acid market size reached US$ 102.5 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 138.9 Million by 2028, exhibiting a growth rate (CAGR) of 5.9% during 2023-2028.

Muconic acid, denoted as COOH, is a chemical compound which occurs naturally and can also be sourced from sorbic acid and its salts. It is a dicarboxylic acid which includes two carboxylic functional groups. The derivative of muconic acid, including adipic acid and caprolactam are used for the production of various products such as PET and other polymers, carpets, textiles, lubricants and plastics which are further employed as primary raw materials in the manufacturing of cans, boxes, plastic bottles and pouches. The bio-production of muconic acid can also be used in the form of a platform for the purpose of producing numerous consumer bio-plastics which include polyurethane, nylon 66 and polyethylene terephthalate.

The textile industry is a major end user of muconic acid and is expected to exhibit moderate growth driven by rising consumer spending particularly in emerging economies. This is expected to create a positive impact on the global muconic acid market. Additionally, muconic acid is primarily used for the production of plastics which finds its applications for the production of numerous products such as containers, bags, films, etc. Rising demand of packaged products are expected to drive the global plastic packaging industry. Moreover, there has also been a significant growth in the demand for lubricants in several end-use industries including chemical, automobile and manufacturing industries. This is also expected to create a positive impact on the global demand of muconic acid.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global muconic acid market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on derivative and application.

Breakup by Derivative:

Adipic Acid
Caprolactam
Others

Based on the derivatives, the market has been segmented into adipic acid, caprolactam and others.

Breakup by Application:

Carpets and Textiles
Plastics
Lubricants
Others

Based on the application, the market has been segmented into carpets and textiles, plastics, lubricants and others. Carpets and textiles currently represent the biggest application.

Breakup by Region:

North America
Europe
Asia Pacific
Middle East and Africa
Latin America

Region-wise, the market has been segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Competitive Landscape:

The competitive landscape of the market has also been examined with some of the key players being Myriant Corporation, Santa Cruz Biotechnology, Merck, Deinove, Amyris, Sigma-Aldrich Corporation, Dynacare, Thermo Fisher Scientific, Zhongxing Flavors & Fragrance, TCI, Alfa Aesar and Toronto Research Chemicals.

This report provides a deep insight into the global muconic acid market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the muconic acid industry in any manner.

Key Questions Answered in This Report

1. What was the global muconic acid market size in 2022?
2. What will be the global muconic acid market outlook during the forecast period (2023-2028)?
3. What are the major global muconic acid market drivers?
4. What are the major global muconic acid market trends?
5. What is the impact of COVID-19 on the global muconic acid market?
6. What is the global muconic acid market breakup by derivative?
7. What is the global muconic acid market breakup by application?
8. What are the major regional markets in the global muconic acid industry?
9. Who are the leading global players in the muconic acid industry?