Muconic Acid Market Analysis, Demand, Size, Share, And Future Prospects to 2024
Category: #business  By Ronak Bora  Date: 2020-01-16
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Muconic Acid Market Analysis, Demand, Size, Share, And Future Prospects to 2024

The research report delivers a basic outline of the muconic acid market – this is inclusive of the market definition, numerous classifications, as well as applications. the report provides an examination of the industry players – at a global as well as regional level, in detail. the study includes a gist of the forecast trends and demand until the year 2026. also, the report contains details about the significant companies, innovations, technologies, as well as innovations, and the factors impacting the product demand.

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The major regions in the muconic acid market that are likely to establish a coveted position in the industry and the ones who have major scope for improvement are enlisted in the report. also, a detailed evaluation of the latest technological advancements in the industry, in tandem with the detailed profiles of the major companies in the market have been given, as well as a unique model analysis.

Certain surveys, a swot analysis, and the tactics adopted by major vendors in the market provide a detailed understanding pertaining to the market strengths and the way they can be deployed to generate future opportunities. also, the report delivers an overall market segmentation that is based on the product type, technology, and application. also, the business tactics of the muconic acid market in tandem with the growing advancements as well as innovative growth prospects to 2026 have been given.

Muconic acid market, in the forthcoming years, has been projected to generate commendable returns, primarily on account of the rising deployment of derivatives in the plastic, textile and construction industries. As per estimates, muconic acid industry size will apparently cross USD 60 million by 2024. The emerging economies of Asia Pacific and Latin America have been touted as the key growth grounds for the development of this business space. This growth can primarily be attributed to the changing consumer lifestyles pertaining to the high disposable incomes, which would act as a prime catalyst for plastic and textile sectors. This in consequence, would positively influence muconic acid market size over 2017-2024.

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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.

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.

Over the years, muconic acid market as 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. For the record, Kurskhimvolokno is a major subsidiary of OJSC KuibyshevAzot Group of Companies, a renowned leader in the global chemicals industry and the highest producer of nylon yarn and caprolactam in Russia, leading the European muconic acid industry landscape. The firm has teamed up with one of the foremost german textile machinery manufacturers, Trützschler, to build new extrusion lines to produce industrial and technical yarns of enhanced quality to satisfy the requirements of efficient end applications. Speaking of yet another instance, Amyris Inc., a U.S. based synthetic bio-products manufacturer, had recently disclosed its intent to accentuate its production capability by almost 400% by the end of this decade. Concurrently, further prospective moves by other industry players are anticipated to have a favorable impact on the profitability landscape of muconic acid industry , the revenue of which was estimated at USD 37 million in 2016.

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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.

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About Author

Ronak Bora

Ronak Bora    

A graduate in Electronics Engineering, Ronak writes for Technology Magazine 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 spo...

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