Muconic Acid Market Growth Propelled by Growing Demand for Nylon Fibers | Technavio

LONDON–(BUSINESS WIRE)–#BioChemicals–The latest market research report by Technavio
on the global
muconic acid market predicts a CAGR of more than 7% during
the period 2017-2021.

The report segments the global muconic acid market by application
(carpets and textiles, plastics, and lubricants) and by geography (the
Americas, EMEA, and APAC). It provides a detailed illustration of the
major factors influencing the market, including drivers, opportunities,
trends, and industry-specific challenges.

Here are some key findings of the global muconic acid market,
according to Technavio chemicals
and materials researchers:

• Growing demand for nylon fibers: a major market driver
• The carpets and textiles segment by the global muconic acid market
  accounted for the maximum market share of around 46% in 2016
• The Americas dominated the global muconic acid market with 42% share
  in 2016
• Amyris, Merck, Myriant, Santa Cruz Biotechnology, and Thermo Fisher
  Scientific are the leading players in the market

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Growing demand for nylon fibers: a major market driver

Growing demand for nylon fibers is one of the major factors driving the
global muconic
acid market. Muconic acid and its derivatives are used to produce
high-molecular-weight polymers such as nylon. Nylon is widely used in
various applications because of its strength and property to increase
the lifetime of the product. Furthermore, nylon fiber is resistant to
abrasion and provides supple tactile feeling. Therefore, its use in the
carpets, textiles, and automobile industries is growing. This is
creating demand for muconic acid and its derivatives. The demand for
nylon fibers in the carpets and textiles industry is quite high. In the
textile industry, nylon fibers are used due to their easy to
dye-ability. The consumption of nylon fibers in home furnishing is also
increasing.

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Americas: largest muconic acid market

The Americas is the largest regional segment in the muconic acid market.
In 2016, it accounted for 42% share of the market. The region is
anticipated to register high growth during the forecast period. This can
be attributed to the increasing demand for nylon (such as nylon 66) from
the carpets and textiles segment. Nylon 66 is made of polyamides such as
adipic acid and hexamethylenediamine (HDMA). Adipic acid and HDMA are
derivatives of muconic acid. To meet the rise in the demand from the
carpets and textiles industry, the production of nylon 66 using adipic
acid is expected to increase. Thus, the growth in the carpet and
textiles industry is expected to foster high consumption of muconic acid
in the region.

According to Kurva Samba Sivudu, a lead analyst at Technavio for
research on bio-chemicals
and bio-materials, “The growth in the automobile industry,
particularly in North America, is anticipated to increase the demand for
nylon 66. Furthermore, the advances in the pharmaceutical and biomarkers
industries are expected to promote the growth in the global muconic acid
market. The US is the key contributing country in the region. This is
due to the growth in the carpets and textiles, automotive,
pharmaceutical, and biomarkers industries in the US.”

Competitive vendor landscape

The global muconic
acid market is concentrated with the presence of few multinational
players. The market is dominated by key vendors such as Amyris, Merck,
Myriant, Santa Cruz Biotechnology, and Thermo Fisher Scientific.
Competitors are investing in R&D activities for creating innovative
products. Since the market is concentrated, there is a huge competition
among existing players.

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