The North America Adipic Acid Market would witness market growth of 3.3% CAGR during the forecast period (2023-2030). In the year 2019, the North America market's volume surged to 748.1 Kilo Tonnes, showcasing a growth of 3.2% (2019-2022).
Adipic acid is a dicarboxylic acid primarily used to produce nylon, a synthetic polymer. It is also used in various other applications, including producing polyurethane resins, plasticizers, food additives, etc. Demand for adipic acid is driven by the increasing use of nylon 6, 6 in producing durable and lightweight plastic in the swiftly expanding automotive and electrical & electronics industries. Adipic acid is utilized extensively in numerous end-use industries, including electrical & electronics, automotive, building & construction, packaging & consumer goods, and textiles. In the coming years, the expansion of the market is likely to be influenced positively by the expanding demand for nylon 6, 6 fibers, and polyurethane in various industries.
Nylon 6, 6 is an indispensable material for the automotive industry. It is a lightweight material used as an alternative to metals in automobiles. Automakers implement advanced plastics into their vehicles to lower weight and improve fuel economy without sacrificing performance or safety. Due to its electrical and mechanical effects, such as high dielectric stability, flame retardancy, and insulation resistance, Nylon 6, 6 resin is also used in the electronics industry to manufacture mobile phone connections, computers, motherboards, terminal blocks for electronic components, power tool housing, circuit breakers, etc.
According to Statistics Canada, investment in building construction increased 1.1% to $17.9 billion in August 2023. The residential sector was up 1.6% to $11.9 billion, while the non-residential industry remained relatively stable, up 0.1% to $5.9 billion. Adipic acid is used to produce adhesives and sealants essential for various construction applications. These materials are used for bonding and sealing in building and infrastructure projects. As the construction industry in Canada continues to grow and adapt to changing trends and regulations, the demand for adipic acid and its applications is likely to expand.
According to Select USA, the United States exported 1.4 million new light vehicles and 108,754 medium and heavy trucks (with a combined value of over $52 billion) to more than 200 nations worldwide in 2020, in addition to $66.7 billion worth of automotive parts. The United States is the world's second-largest vehicle sales and production industry. As the US automotive industry experiences growth, there is a higher demand for various vehicle components, many of which rely on nylon 6,6 produced with adipic acid. This leads to an increased demand for adipic acid in manufacturing automotive parts. The above factors will drive the market growth in this region.
The US market dominated the North America Adipic Acid Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $1,312 million by 2030. The Canada market is exhibiting a CAGR of 5.6% during (2023 - 2030). Additionally, The Mexico market would experience a CAGR of 4.7% during (2023 - 2030).
Based on Application, the market is segmented into Nylon 6, 6 Fiber, Nylon 6, 6 Resin, Polyurethane, Adipate Esters, and Others. Based on End-use, the market is segmented into Automotive, Packaging & Consumer Goods, Electrical & Electronics, Textile, Building & Construction, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Ascend Performance Materials LLC, Asahi Kasei Corporation, BASF SE, Koch Industries, Inc. (Invista BV), Liaoyang Tianhua Chemical Co., Ltd, Radici Partecipazioni S.p.A., Solvay SA, Sumitomo Chemical Co., Ltd., DOMO Chemicals GmbH, and LANXESS AG.
Adipic acid is a dicarboxylic acid primarily used to produce nylon, a synthetic polymer. It is also used in various other applications, including producing polyurethane resins, plasticizers, food additives, etc. Demand for adipic acid is driven by the increasing use of nylon 6, 6 in producing durable and lightweight plastic in the swiftly expanding automotive and electrical & electronics industries. Adipic acid is utilized extensively in numerous end-use industries, including electrical & electronics, automotive, building & construction, packaging & consumer goods, and textiles. In the coming years, the expansion of the market is likely to be influenced positively by the expanding demand for nylon 6, 6 fibers, and polyurethane in various industries.
Nylon 6, 6 is an indispensable material for the automotive industry. It is a lightweight material used as an alternative to metals in automobiles. Automakers implement advanced plastics into their vehicles to lower weight and improve fuel economy without sacrificing performance or safety. Due to its electrical and mechanical effects, such as high dielectric stability, flame retardancy, and insulation resistance, Nylon 6, 6 resin is also used in the electronics industry to manufacture mobile phone connections, computers, motherboards, terminal blocks for electronic components, power tool housing, circuit breakers, etc.
According to Statistics Canada, investment in building construction increased 1.1% to $17.9 billion in August 2023. The residential sector was up 1.6% to $11.9 billion, while the non-residential industry remained relatively stable, up 0.1% to $5.9 billion. Adipic acid is used to produce adhesives and sealants essential for various construction applications. These materials are used for bonding and sealing in building and infrastructure projects. As the construction industry in Canada continues to grow and adapt to changing trends and regulations, the demand for adipic acid and its applications is likely to expand.
According to Select USA, the United States exported 1.4 million new light vehicles and 108,754 medium and heavy trucks (with a combined value of over $52 billion) to more than 200 nations worldwide in 2020, in addition to $66.7 billion worth of automotive parts. The United States is the world's second-largest vehicle sales and production industry. As the US automotive industry experiences growth, there is a higher demand for various vehicle components, many of which rely on nylon 6,6 produced with adipic acid. This leads to an increased demand for adipic acid in manufacturing automotive parts. The above factors will drive the market growth in this region.
The US market dominated the North America Adipic Acid Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $1,312 million by 2030. The Canada market is exhibiting a CAGR of 5.6% during (2023 - 2030). Additionally, The Mexico market would experience a CAGR of 4.7% during (2023 - 2030).
Based on Application, the market is segmented into Nylon 6, 6 Fiber, Nylon 6, 6 Resin, Polyurethane, Adipate Esters, and Others. Based on End-use, the market is segmented into Automotive, Packaging & Consumer Goods, Electrical & Electronics, Textile, Building & Construction, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Ascend Performance Materials LLC, Asahi Kasei Corporation, BASF SE, Koch Industries, Inc. (Invista BV), Liaoyang Tianhua Chemical Co., Ltd, Radici Partecipazioni S.p.A., Solvay SA, Sumitomo Chemical Co., Ltd., DOMO Chemicals GmbH, and LANXESS AG.
Scope of the Study
Market Segments Covered in the Report:
By Application (Volume, Kilo Tonnes, USD Million, 2019-2030)- Nylon 6, 6 Fiber
- Nylon 6, 6 Resin
- Polyurethane
- Adipate Esters
- Others
- Automotive
- Packaging & Consumer Goods
- Electrical & Electronics
- Textile
- Building & Construction
- Others
- US
- Canada
- Mexico
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- Ascend Performance Materials LLC
- Asahi Kasei Corporation
- BASF SE
- Koch Industries, Inc. (Invista BV)
- Liaoyang Tianhua Chemical Co., Ltd
- Radici Partecipazioni S.p.A.
- Solvay SA
- Sumitomo Chemical Co., Ltd.
- DOMO Chemicals Gmbh
- LANXESS AG
Unique Offerings
- Exhaustive coverage
- The highest number of Market tables and figures
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- Assured post sales research support with 10% customization free
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market At a Glance
Chapter 3. Market Overview
Chapter 4. Strategies Deployed in Adipic Acid Market
Chapter 5. North America Adipic Acid Market by Application
Chapter 6. North America Adipic Acid Market by End-use
Chapter 7. North America Adipic Acid Market by Country
Chapter 8. Company Profiles
Companies Mentioned
- Ascend Performance Materials LLC
- Asahi Kasei Corporation
- BASF SE
- Koch Industries, Inc. (Invista BV)
- Liaoyang Tianhua Chemical Co., Ltd
- Radici Partecipazioni S.p.A.
- Solvay SA
- Sumitomo Chemical Co., Ltd.
- DOMO Chemicals Gmbh
- LANXESS AG
Methodology
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