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.
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Over the years, muconic acid market has been depicted by a series of strategic capacity augmentation, modernization programmes, and joint ventures undertaken by prominent industry players, which has overtly contributed substantially to the commercialization of this industry. Kurskhimvolokno for instance, has recently announced its capacity expansion plans to cater to the growing textile industry across the globe, for the textile industry is the most prominent end-user of muconic acid
The global 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 emerging economies of APAC are expected to be the chief contributors of the regional muconic acid market, as this region caters to the large consumer demand across the plastic, construction, automobiles and textile sectors. APAC muconic acid industry in fact, is slated to expand at a 6.5% CAGR over 2017-2024. North America on the other hand, in 2016, led the overall muconic acid market value and volume, driven by the heavy application of the product across the automotive sector.
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Global muconic acid market can be termed as moderately saturated with key players operating in the business include Toronto Research Chemicals, Amyris Inc., Myriant Corporation, Alfa Aesar, TCI, Sigma-Aldrich Corporation, Thermo Fisher among others. With continuous R&D initiatives, technology upgradation and expansion of distribution infrastructure being implemented by market players, muconic acid market size is predicted to surpass $60 million by 2024, as per a research report by Global Market Insights, Inc.
Major Point From Table Of Content:
Chapter 4. Muconic Acid Market, Derivatives By Application
4.1. Global muconic acid industry 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
4.3.1. 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
4.4.1. 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
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