The global Muconic Acid market was worth USD 33.57 million in the year 2014 and is expected to reach approximately USD 60.76 million by 2023, while registering itself at a compound annual growth rate (CAGR) of 6.81% during the forecast period. Growing demand for muconic acid subsidiaries, particularly adipic corrosive and caprolactam, is assessed to drive the worldwide muconic acid market. Moreover, expanding customer mindfulness about bio-based items is probably going to enlarge market development. However, nearness of engineered and bio-based substitutes, for example, cyclohexane, bio-succinic acid and butadiene, is anticipated to repress showcase development amid the gauge time frame. Development in natural concerns identified with the use of petrochemical-determined items is probably going to give substantial chances to the bio-based muconic acid market.
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Derivatives Outlook and Trend Analysis
On the basis of Derivatives, the global muconic acid market is segmented into Adipic acid, Caprolactam and Other derivatives (Terephthalic Acid, hexamethylenediamine and adiponitrile). Adipic acid is an essential subordinate of muconic acid, is relied upon to contribute a predominant offer to the general market of muconic corrosive. Adipic corrosive is utilized for different applications, for example, cleansers, plasticizers, and coatings. However, it is conspicuously utilized as a monomer for the combination of nylon 6-6. As of now, adipic corrosive is primarily produced from engineered cyclohexane. Even, the pattern of utilizing sustainable or bio-based sources is encouraging manufacturers to utilize muconic acid to manufacture adipic acid. It is expected that the rising interest for nylon will drive the market for adipic acid, helping the development of the worldwide muconic acid market.
Application Outlook and Trend Analysis
On the basis of Application, the worldwide muconic acid market is segmented into Plastics, Carpets & textiles, Lubricants and other applications (Biomarkers, etc.). Plastics developed as the biggest application fragment of muconic acid as far as volume in 2013. It discovers real application in vehicles in tire strings and other assembling parts, for example, transport lines. Development in carbon emanations and enactments set around administrative bodies to smother these outflows is anticipated to expand the use of muconic acid for nylon creation. Nylon is broadly utilized as a part of vehicles because of high rigidity and gentility in weight.
Regional Outlook and Trend Analysis
Asia Pacific muconic acid market is probably going to encounter huge development over the conjecture timespan because of ceaselessly expanding item request from material and car businesses. China muconic acid market is a noteworthy mechanical center and might be basically in charge of future surged item request in this locale. Moreover, gigantic market for plastic bundling alternatives is an inspirational standpoint for the item in this district.
Competitive Insights
The key players of global muconic acid market report incorporate yriant Corporation, Sigma-Aldrich Corporation, Toronto Research Chemicals, Alfa Aesar, Dynacare, Thermo Fisher Scientific, Amyris and TCI.
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The Muconic Acid Market is segmented as follows-
By Derivative:
Adipic acid
Caprolactam
Others (Terephthalic Acid, hexamethylenediamine and adiponitrile)
By Application:
Plastics
Carpets & textiles
Lubricants
Others (Biomarkers, etc.)
By Region
North America
U.S
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
Japan
China
Australia
India
South Korea
Rest of Asia Pacific
Rest of the World
Brazil
South Africa
Saudi Arabia
United Arab Emirates
Others
Some of the key questions answered by the report are:
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What was the market size in 2014 and forecast from 2015 to 2023?
What will be the industry market growth from 2015 to 2023?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?