Press release
North America muconic acid market is estimated to accrue sizable revenue growth by 2024
Muconic Acid Market
Moreover, North America houses a major portion of the automobile industry, which is renowned for using lubricants on a large-scale. Given to the escalating demand for lubricants across the automotive sector, North America muconic acid market is estimated to accrue sizable revenue growth by 2024.
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For the record, nylon acts as a significant fabric because of its smooth feel and shining texture in the textile industry. As a result, proliferating demand for nylon fabric could strengthen the muconic acid industry landscape in the future. Besides, the textile industry is also projected to record a substantial compound annual growth rate within forecast duration.
Elaborating on caprolactam segment, the product is a crucial derivative of muconic acid, which plays a significant role in nylon production. However, other applications of caprolactam involve the development of synthetic fibers like brush bristles, textile stiffeners, cross-linking polyurethane, film coatings, and synthetic leather.
Demand for plastic packaging items from the electronics, consumer goods, and food & beverage industry could massively boost the adoption of muconic acid. Meanwhile, its use as a viscosity modifier in lubricant production for diverse end-users including chemical, manufacturing and automobile sectors may fuel muconic acid market size over the forthcoming years. Considering its broad application range, Global Market Insights, Inc., estimates that the muconic acid market could hit USD 60 million by 2024.
Companies covered in the muconic acid market are Myriant Corporation, Deinove, Santa Cruz Biotechnology, Amyris, Sigma-Aldrich Corporation, Dynacare, Thermo Fisher Scientific, Zhongxing Flavors & Fragrance, TCI, Alfa Aesar, Toronto Research Chemicals
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Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
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About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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