Adipic Acid Market is an organic compound which is most commonly used to produce industrial fibers. It is a synthetic dicarboxylic acid produced from oxidation of various fats. It is majorly used as a raw material for manufacturing of nylon. It is also used in the chemical industry as a raw material for manufacturing of coatings, detergents and also as a plasticizer.
The ever growing auto industry is one of the major factors driving the demand for adipic acid. It is also used by the electronic and electrical industry. For the last decade the world has seen an increasing in spending on infrastructure and thus a rising demand for paints and coating and consequently an increase in the demand of adipic acid. Apart from this derivatives of adipic acids are also used as vehicle for administering drugs that is it helps to deliver the drug to your body.
India and China are expected to be both leading producers and consumers of the adipic acid owing to the fact that they receive high demands from automotive manufacturing industry and have relatively less stringent regulations. Africa and Middle East areas are also expected to show significant growth.
Manufacturing of adipic acid produces nitrous oxide, a greenhouse gas that causes ozone depletion thus raising concern towards adverse environmental impact. This will hinder its market growth and force industries to shift to other viable greener alternatives.
The report titled “Global Adipic Acid Market- Growth, Share, Opportunities and Competitive Analysis, 2021 - 2029” offers strategic insights into the global adipic acid market along with the market size and estimates for the duration 2020 to 2029. The said research study covers in-depth analysis of multiple market segments based on applications and cross-sectional study across different geographies. The study covers the comparative analysis of different segments for the years 2020 & 2029. The report also provides a prolific view on market dynamics such as market drivers, restraints and opportunities.
In order to help the strategic decision makers, the report also includes profiles of the leading adipic acid manufacturers, their SCOT (Strength, Challenges, Opportunities and Weaknesses) analysis and key developments. The major players profiled in the report are BASF, Rhodia, INVISTA, Ascend Performance Materials, Liaoyang Petrochemical, Radici, Asahi Kasei, Lanxess, Shandong Haili Chemical Industry Company, Ltd. (BOHUI) and Shandong Hongye Chemical Company, Ltd. Further, the report also covers market positioning of the key players operating in the adipic acid market. Other in-depth analysis provided in the report includes:
Adipic Acid Market By Application
The nylon 66 fibers and engineering plastics (nylon 66 resin) together accounted for than 75% share of the market pie in 2020. Engineering plastics was the largest application segment and accounted for 1,027.20 kilo tons of the total volume in 2020. Rising demand from automotive industry is projected to drive this application segment demand.
Nylon 66 fibers are projected to grow at a CAGR of 2.3% from 2021 to 2029 in terms of volume. Increasing fibers demand from textile filament and industrial filament is projected to drive the demand for this application segment. Polyurethane is projected to be the fastest growing application with an estimated CAGR of 4.9 % from 2021 to 2029 in terms of revenue.
On the basis of geography, the global adipic acid market is segmented into following regions,
Europe accounted for 23.10% of the total market pie in terms of volume in 2020. Due to rising environmental concerns and stringent government regulation the market is projected to shift towards bio based adipic acid. North American market is projected to witness steady growth due to saturation in the end user industries. The U.S represents more than 80% of total regional consumption, with stagnant growth projected during the forecast period.
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The ever growing auto industry is one of the major factors driving the demand for adipic acid. It is also used by the electronic and electrical industry. For the last decade the world has seen an increasing in spending on infrastructure and thus a rising demand for paints and coating and consequently an increase in the demand of adipic acid. Apart from this derivatives of adipic acids are also used as vehicle for administering drugs that is it helps to deliver the drug to your body.
India and China are expected to be both leading producers and consumers of the adipic acid owing to the fact that they receive high demands from automotive manufacturing industry and have relatively less stringent regulations. Africa and Middle East areas are also expected to show significant growth.
Manufacturing of adipic acid produces nitrous oxide, a greenhouse gas that causes ozone depletion thus raising concern towards adverse environmental impact. This will hinder its market growth and force industries to shift to other viable greener alternatives.
The report titled “Global Adipic Acid Market- Growth, Share, Opportunities and Competitive Analysis, 2021 - 2029” offers strategic insights into the global adipic acid market along with the market size and estimates for the duration 2020 to 2029. The said research study covers in-depth analysis of multiple market segments based on applications and cross-sectional study across different geographies. The study covers the comparative analysis of different segments for the years 2020 & 2029. The report also provides a prolific view on market dynamics such as market drivers, restraints and opportunities.
In order to help the strategic decision makers, the report also includes profiles of the leading adipic acid manufacturers, their SCOT (Strength, Challenges, Opportunities and Weaknesses) analysis and key developments. The major players profiled in the report are BASF, Rhodia, INVISTA, Ascend Performance Materials, Liaoyang Petrochemical, Radici, Asahi Kasei, Lanxess, Shandong Haili Chemical Industry Company, Ltd. (BOHUI) and Shandong Hongye Chemical Company, Ltd. Further, the report also covers market positioning of the key players operating in the adipic acid market. Other in-depth analysis provided in the report includes:
- Current and future market trends to justify the forthcoming attractive markets within the adipic acid industry
- Market fuelers, market impediments, and their impact on the market growth
- In-depth competitive environment analysis
- SRC (Segment-Region-Country) Analysis
Adipic Acid Market By Application
The global adipic acid market can be categorized on the basis of applications as
- Nylon 66 Fibers (Textile Filament, Industrial Filament, Carpet Filament among others)
- Engineering Plastics (Nylon 66 Resin) (Automotive, Packaging Films & Coatings, Consumer Goods, Industrial/Machinery, Electrical & Electronics among others)
- Polyurethanes
- Adipic/Adipate Esters (Plasticizers)
- Others
The nylon 66 fibers and engineering plastics (nylon 66 resin) together accounted for than 75% share of the market pie in 2020. Engineering plastics was the largest application segment and accounted for 1,027.20 kilo tons of the total volume in 2020. Rising demand from automotive industry is projected to drive this application segment demand.
Nylon 66 fibers are projected to grow at a CAGR of 2.3% from 2021 to 2029 in terms of volume. Increasing fibers demand from textile filament and industrial filament is projected to drive the demand for this application segment. Polyurethane is projected to be the fastest growing application with an estimated CAGR of 4.9 % from 2021 to 2029 in terms of revenue.
By Geography
On the basis of geography, the global adipic acid market is segmented into following regions,
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia
- Rest of Asia Pacific
- Rest of the World
- Brazil
- Rest of RoW
Asia Pacific is projected to be the largest and fastest growing market for adipic acid. In terms of revenue, in 2020 the market accounted for 34.10% share of the total market pie. Growing demand from the end user industries such as automotive, electronics and food are the major factor propelling the market growth. India and China are the chief contributors towards the market growth due to socio economic development. RoW regions such as Brazil, Middle East, and Africa offers huge market potential. Growing automobile industry is the key factor contributing towards the market growth in these regions. RoW regions is projected to grow at an estimated CAGR of 4.6% from 2021 to 2029 in terms of revenue.
Europe accounted for 23.10% of the total market pie in terms of volume in 2020. Due to rising environmental concerns and stringent government regulation the market is projected to shift towards bio based adipic acid. North American market is projected to witness steady growth due to saturation in the end user industries. The U.S represents more than 80% of total regional consumption, with stagnant growth projected during the forecast period.
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Table of Contents
Chapter 1 Preface
Chapter 2 Executive Summary
Chapter 3 Market Dynamics
Chapter 4 Global Adipic Acid Market Analysis, By Application Type
Chapter 5 North America Adipic Acid Market Analysis
Chapter 6 Europe Adipic Acid Market Analysis
Chapter 7 Asia Pacific Adipic Acid Market Analysis
Chapter 8 RoW Adipic Acid Market Analysis
Chapter 9 Company Profiles
Companies Mentioned
- BASF
- Rhodia
- INVISTA
- Ascend Performance Materials
- Liaoyang Petrochemical
- Radici
- Asahi Kasei
- Lanxess
- Shandong Haili Chemical Industry Company Ltd. (BOHUI)
- handong Hongye Chemical Company Ltd
