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Muconic Acid Market Size in textile applications to grow at 5% CAGR till 2024

Author : Ronak Bora | Published Date : 2019-08-07 

The global muconic acid market for carpet & textile applications was observed to have the highest share in 2016. The segment will have the growth of more than 5% over the forecast period. Nylon, which is chiefly used in carpets & garments is synthesized using adipic acid. These trends present a substantial potential for muconic acid market from the textile industry in the near future.

The market size of polyurethane, another essential material deploying muconic acid, was over USD 50 billion for 2015 and is forecast to witness growth at over 5% CAGR from 2016 to 2023. This business space encompasses flexible and rigid polyurethane foams, elastomers, adhesives and sealants. Flexible PU foam also finds extensive application in the manufacturing of beddings, vehicle seating, upholstery and textile. Rigid PU foam is widely used in construction and insulation industries. Polyethylene terephthalate (PET) market size in fact, will see a massive growth of 40% CAGR between 2016 and 2023. The growing global PET market size is chiefly credited to the increasing awareness among consumers and stringent government norms promoting the use of bio degradable and environmental friendly products. In consequence, the expansion of the polyurethanes market and PET industry is likely to have a commendable impact on muconic acid market outlook.

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Plastic plays a major role in automotive, construction and the packaging sectors. Rigid plastic, a form of plastic that finds wide applications in packaging numerous products and manufacturing of rigid bottles for personal care and pharmaceutical products as well as bottles for carbonated drinks, water, food products and other household care products, has the largest market as far as plastic products are concerned. Owing to increasing population and a huge consumer base with disposable incomes, the rigid plastic industry is forecast to perceive an impressive growth rate speedily affecting muconic acid market trends, given that this product is an essential component of plastic manufacturing.

North America muconic acid market will grow at a CAGR close to 6% over the forecast period. The region identifies a strong automobile industry, which has been a user of lubricants. Muconic acid has a significant contribution in modifying lubricants' viscosity. Thus, the growing lubricants demand in the automobile industry is likely to boost the muconic acid market by 2024.

Key market participants in the global muconic acid market are Thermo Fisher, Alfa Aesar, Sigma-Aldrich Corporation, Myriant Corporation, and Amyris. These contribute to over half of the global muconic acid market share. Companies have been involved in extensive research & development activities for discovering numerous conducts to produce muconic acid.

Browse key industry insights spread across 192 pages with 231 market data tables & 23 figures & charts from the report, “Muconic Acid Market” in detail along with the table of contents @ https://www.gminsights.com/industry-analysis/muconic-acid-market

Glimpse of Table of Content (ToC)

Chapter 4. Muconic Acid Market, Derivatives By Application

4.1.  Global muconic acid market share by derivatives, 2016 & 2024

4.2.  Adipic acid

4.2.1.     Market estimates and forecasts, 2013 - 2024

4.2.2.     Market estimates and forecasts of derivative by application, 2013 – 2024

4.2.3.     Market estimates and forecasts by region, 2013 – 2024

4.3.  Caprolactam

4.3.1.     Market estimates and forecasts, 2013 - 2024

4.3.2.     Market estimates and forecasts of derivative by application, 2013 – 2024

4.3.3.     Market estimates and forecasts by region, 2013 – 2024

4.4.  Others

4.4.1.     Market estimates and forecasts, 2013 - 2024

4.4.2.     Market estimates and forecasts of derivative by application, 2013 – 2024

4.4.3.     Market estimates and forecasts by region, 2013 – 2024

Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/muconic-acid-market

About Global Market Insights

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.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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