The report highlights the increasing adoption of muconic acid in the chemical industry that is proliferating the global market growth. Consegic Business Intelligence study also provides insights into the market's competitive landscape, market segmentation, regional outlook, and emerging technologies in the muconic acid market.
The muconic acid market is bifurcated into derivative, application, and end use industry. Based on derivative, the market is segmented into adipic acid, terephthalic acid, caprolactam, and others. In 2022, the adipic acid segment dominated the overall muconic acid market. On the basis of application, the market is divided into functional resins, bio-plastics, food additives, lubricants, chemical intermediate, agrochemicals, and others. In 2022, the chemical intermediate segment accounted for the highest market share in the muconic acid market. The end use industry segment is categorized into food & beverage, chemicals, agriculture, textiles, plastics, and others. In 2022, the chemicals segment accounted for the highest market share in the muconic acid market.Get Free Sample
|Report Attributes||Report Details|
|By Derivative||Adipic Acid, Terephthalic Acid, Caprolactam, and Others|
|By Application||Functional Resins, Bio-Plastics, Food Additives, Lubricants, Chemicals Intermediate, Agrochemicals, and Others|
|By End Use Industry||Food & Beverage, Chemicals, Agriculture, Textiles, Plastics, and Others|
|By Region||North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa|
As per the study, the market is dominated by certain major companies such Alfa Aesar (subsidiary of Thermo Fisher Scientific), Merck KGaA, Santa Cruz Biotechnology, Inc., and Tokyo Chemical Industry Co., Ltd. Inc have a strong market position in the current market circumstances. Further, the Muconic acid market is expected to witness significant growth in coming years due to increasing demand for other industrial chemicals such as adipic acid and terephthalic acid. The market players compete for a firm market position through mergers and acquisitions, product innovations, and business strategies. Thus, evolving research and developments in muconic acid are expected to help market players adopt innovative ways of product creation to cater to the growing needs of various end-use industries.