Muconic Acid Market Growth Drivers and Opportunities by 2031
The Muconic Acid Market is expected to register a CAGR of 7% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The report is segmented by Derivatives (Adipic acid, Caprolactam, and Others). The report presents analysis based on Application (Textiles, Plastics, Lubricants, and Others). The global analysis is further broken-down at regional level and major countries. The Report Offers the Value in USD for the above analysis and segments.
Purpose of the ReportThe report Muconic Acid Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Muconic Acid Market Segmentation
Derivatives- Adipic acid
- Caprolactam
- Textiles
- Plastics
- Lubricants
Strategic Insights
Muconic Acid Market Growth Drivers- Increasing Demand in Plastics Manufacturing: The market for muconic acid is on growth primarily because of the increasing demand for plastics. Muconic acid is an essential intermediate in producing several biodegradable plastics that have become very popular lately due to environmental worries. This improves the need for muconic acid as a greener alternative.
- A Sustainable Solution for Green Polymers: Muconic acid is a highly promising source of green polymers like polyamide and polyurethane. The materials are used in varied applications or markets, ranging from packaging to automobile parts or even consumer products. Therefore, the growing concerns toward sustainability increasingly issued by plastics manufacturers are driving demand and growth in the market for muconic acid.
- Regulation of Plastic Waste Fuels Growth in Muconic Acid Demand: The increasing need to regulate plastic waste will further make manufacturers invest in this sector for biodegradable materials. As companies seek to position themselves according to these regulations, the need for renewable chemical sources such as muconic acid becomes discernible. This affords the shift toward sustainability and, although good for the environment, could also be an avenue in which muconic acid manufacturers can capitalize on the opportunity and make it a phenomenal business.
- Growing Preference for Sustainable Materials: Rising demand for sustainable materials is emerging as one of the major trends driving the muconic acid market. The trend comes from increasingly environmentally conscious consumers and businesses that need bio-based chemicals and, therefore, are placing a growing demand on muconic acid extracted from renewable sources as a substitute for traditional petroleum-based chemicals.
- The Rise of Biodegradable Plastics: The growing need for sustainability, manufacturers are focusing on biodegradable plastics and polymers that contain muconic acid as a major constituent. The uptrend of products such as bioplastics corresponds with the global imperative to reduce plastic waste and carbon footprints. Consequently, this new green alternative will help the market for muconic acid.
- Government Support for Sustainable Materials: In addition, the encouragement of frameworks and regulations is making companies adopt bio-based materials. Government incentives and policies to sustain renewable resources further advance the market for muconic acid. With these regulations in place, the demand in industries is likely to drive sustainable chemical alternatives-thus muconic acid.
- Environmental Regulations Favoring Green Alternatives: Environmental regulations promoting green alternatives are significantly enhancing the growth opportunities in the market for muconic acid. Due to strict policies in place to fight climate change and the continuation of plastic pollution accumulation in open spaces, industries are adopting sustainable practices so far endorsed by governments globally. This trend is constantly driving the demand for renewable chemicals such as muconic acid across various applications.
- Policies Promoting Muconic Acid Production: Policies of reducing fossil fuel usage and consumption, as well as encouraging the use of bio-based materials, promote the production of muconic acid. Incentives made by governments to companies that take environmental-friendly practices boost the interest in producing muconic acid as an alternative for the usage of traditional petrochemicals in their operations, especially since it also supports achieving sustainability at global levels.
- Sustainable Solutions in Key Industries: The packaging, textile, and automotive industries need to seek sustainable solutions to ensure compliance with these regulations. Manufacturers who are working towards fulfilling compliance identify the demand for muconic acid for biodegradable plastics and polymers. This increased demand becomes a new business opportunity for suppliers and manufacturers alike in the market for muconic acid.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Muconic Acid Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Muconic Acid Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
The Muconic Acid Market is estimated to witness a CAGR of 7% from 2023 to 2031
Increasing Demand in Plastics Manufacturing is driving the market growth
Myriant Corporation, Santa Cruz Biotechnology, Merck are some of the key players operating in the muconic acid market
Based on derivatives, adipic acid is expected to witness the fastest growth during the forecast period
Based on geography, Asia Pacific held the largest share of the muconic acid market.
Growing Preference for Sustainable Materials is expected to be the key market trends.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Muconic Acid Market - By Derivatives
1.3.2 Muconic Acid Market - By Application
1.3.3 Muconic Acid Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. MUCONIC ACID MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PORTER'S FIVE FORCES ANALYSIS
4.2.1 Bargaining Power of Buyers
4.2.1 Bargaining Power of Suppliers
4.2.1 Threat of Substitute
4.2.1 Threat of New Entrants
4.2.1 Competitive Rivalry
4.3. EXPERT OPINIONS
5. MUCONIC ACID MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. MUCONIC ACID MARKET - GLOBAL MARKET ANALYSIS
6.1. MUCONIC ACID - GLOBAL MARKET OVERVIEW
6.2. MUCONIC ACID - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. MUCONIC ACID MARKET - REVENUE AND FORECASTS TO 2028 - DERIVATIVES
7.1. OVERVIEW
7.2. DERIVATIVES MARKET FORECASTS AND ANALYSIS
7.3. ADIPIC ACID
7.3.1. Overview
7.3.2. Adipic acid Market Forecast and Analysis
7.4. CAPROLACTAM
7.4.1. Overview
7.4.2. Caprolactam Market Forecast and Analysis
7.5. OTHERS
7.5.1. Overview
7.5.2. Others Market Forecast and Analysis
8. MUCONIC ACID MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. TEXTILES
8.3.1. Overview
8.3.2. Textiles Market Forecast and Analysis
8.4. PLASTICS
8.4.1. Overview
8.4.2. Plastics Market Forecast and Analysis
8.5. LUBRICANTS
8.5.1. Overview
8.5.2. Lubricants Market Forecast and Analysis
8.6. OTHERS
8.6.1. Overview
8.6.2. Others Market Forecast and Analysis
9. MUCONIC ACID MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Muconic Acid Market Overview
9.1.2 North America Muconic Acid Market Forecasts and Analysis
9.1.3 North America Muconic Acid Market Forecasts and Analysis - By Derivatives
9.1.4 North America Muconic Acid Market Forecasts and Analysis - By Application
9.1.5 North America Muconic Acid Market Forecasts and Analysis - By Countries
9.1.5.1 United States Muconic Acid Market
9.1.5.1.1 United States Muconic Acid Market by Derivatives
9.1.5.1.2 United States Muconic Acid Market by Application
9.1.5.2 Canada Muconic Acid Market
9.1.5.2.1 Canada Muconic Acid Market by Derivatives
9.1.5.2.2 Canada Muconic Acid Market by Application
9.1.5.3 Mexico Muconic Acid Market
9.1.5.3.1 Mexico Muconic Acid Market by Derivatives
9.1.5.3.2 Mexico Muconic Acid Market by Application
9.2. EUROPE
9.2.1 Europe Muconic Acid Market Overview
9.2.2 Europe Muconic Acid Market Forecasts and Analysis
9.2.3 Europe Muconic Acid Market Forecasts and Analysis - By Derivatives
9.2.4 Europe Muconic Acid Market Forecasts and Analysis - By Application
9.2.5 Europe Muconic Acid Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Muconic Acid Market
9.2.5.1.1 Germany Muconic Acid Market by Derivatives
9.2.5.1.2 Germany Muconic Acid Market by Application
9.2.5.2 France Muconic Acid Market
9.2.5.2.1 France Muconic Acid Market by Derivatives
9.2.5.2.2 France Muconic Acid Market by Application
9.2.5.3 Italy Muconic Acid Market
9.2.5.3.1 Italy Muconic Acid Market by Derivatives
9.2.5.3.2 Italy Muconic Acid Market by Application
9.2.5.4 United Kingdom Muconic Acid Market
9.2.5.4.1 United Kingdom Muconic Acid Market by Derivatives
9.2.5.4.2 United Kingdom Muconic Acid Market by Application
9.2.5.5 Russia Muconic Acid Market
9.2.5.5.1 Russia Muconic Acid Market by Derivatives
9.2.5.5.2 Russia Muconic Acid Market by Application
9.2.5.6 Rest of Europe Muconic Acid Market
9.2.5.6.1 Rest of Europe Muconic Acid Market by Derivatives
9.2.5.6.2 Rest of Europe Muconic Acid Market by Application
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Muconic Acid Market Overview
9.3.2 Asia-Pacific Muconic Acid Market Forecasts and Analysis
9.3.3 Asia-Pacific Muconic Acid Market Forecasts and Analysis - By Derivatives
9.3.4 Asia-Pacific Muconic Acid Market Forecasts and Analysis - By Application
9.3.5 Asia-Pacific Muconic Acid Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Muconic Acid Market
9.3.5.1.1 Australia Muconic Acid Market by Derivatives
9.3.5.1.2 Australia Muconic Acid Market by Application
9.3.5.2 China Muconic Acid Market
9.3.5.2.1 China Muconic Acid Market by Derivatives
9.3.5.2.2 China Muconic Acid Market by Application
9.3.5.3 India Muconic Acid Market
9.3.5.3.1 India Muconic Acid Market by Derivatives
9.3.5.3.2 India Muconic Acid Market by Application
9.3.5.4 Japan Muconic Acid Market
9.3.5.4.1 Japan Muconic Acid Market by Derivatives
9.3.5.4.2 Japan Muconic Acid Market by Application
9.3.5.5 South Korea Muconic Acid Market
9.3.5.5.1 South Korea Muconic Acid Market by Derivatives
9.3.5.5.2 South Korea Muconic Acid Market by Application
9.3.5.6 Rest of Asia-Pacific Muconic Acid Market
9.3.5.6.1 Rest of Asia-Pacific Muconic Acid Market by Derivatives
9.3.5.6.2 Rest of Asia-Pacific Muconic Acid Market by Application
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Muconic Acid Market Overview
9.4.2 Middle East and Africa Muconic Acid Market Forecasts and Analysis
9.4.3 Middle East and Africa Muconic Acid Market Forecasts and Analysis - By Derivatives
9.4.4 Middle East and Africa Muconic Acid Market Forecasts and Analysis - By Application
9.4.5 Middle East and Africa Muconic Acid Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Muconic Acid Market
9.4.5.1.1 South Africa Muconic Acid Market by Derivatives
9.4.5.1.2 South Africa Muconic Acid Market by Application
9.4.5.2 Saudi Arabia Muconic Acid Market
9.4.5.2.1 Saudi Arabia Muconic Acid Market by Derivatives
9.4.5.2.2 Saudi Arabia Muconic Acid Market by Application
9.4.5.3 U.A.E Muconic Acid Market
9.4.5.3.1 U.A.E Muconic Acid Market by Derivatives
9.4.5.3.2 U.A.E Muconic Acid Market by Application
9.4.5.4 Rest of Middle East and Africa Muconic Acid Market
9.4.5.4.1 Rest of Middle East and Africa Muconic Acid Market by Derivatives
9.4.5.4.2 Rest of Middle East and Africa Muconic Acid Market by Application
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Muconic Acid Market Overview
9.5.2 South and Central America Muconic Acid Market Forecasts and Analysis
9.5.3 South and Central America Muconic Acid Market Forecasts and Analysis - By Derivatives
9.5.4 South and Central America Muconic Acid Market Forecasts and Analysis - By Application
9.5.5 South and Central America Muconic Acid Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Muconic Acid Market
9.5.5.1.1 Brazil Muconic Acid Market by Derivatives
9.5.5.1.2 Brazil Muconic Acid Market by Application
9.5.5.2 Argentina Muconic Acid Market
9.5.5.2.1 Argentina Muconic Acid Market by Derivatives
9.5.5.2.2 Argentina Muconic Acid Market by Application
9.5.5.3 Rest of South and Central America Muconic Acid Market
9.5.5.3.1 Rest of South and Central America Muconic Acid Market by Derivatives
9.5.5.3.2 Rest of South and Central America Muconic Acid Market by Application
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. MUCONIC ACID MARKET, KEY COMPANY PROFILES
11.1. MYRIANT CORPORATION
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. SANTA CRUZ BIOTECHNOLOGY
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. MERCK
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. DEINOVE
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. AMYRIS
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. SIGMA-ALDRICH CORPORATION
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. DYNACARE
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. THERMO FISHER SCIENTIFIC
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. ZHONGXING FLAVORS AND FRAGRANCE
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. ALFA AESAR
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
1. Myriant Corporation
2. Santa Cruz Biotechnology
3. Merck
4. Deinove
5. Amyris
6. Sigma-Aldrich Corporation
7. Dynacare
8. Thermo Fisher Scientific
9. Zhongxing Flavors and Fragrance
10. Alfa Aesar
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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