The global adipic acid market size reached US$ 6.2 Billion in 2023. Looking forward, the publisher expects the market to reach US$ 10.2 Billion by 2032, exhibiting a growth rate of (CAGR) of 5.7% during 2023-2032. The increasing utilization of adipic acid across the automotive and food and beverage (F&B) industries is majorly driving the market toward growth.
Adipic acid, or hexanedioic acid (CH2)4(COOH)2, is a slightly soluble, organic white crystalline compound that is commercially formulated by oxidizing the combination of cyclohexanol and cyclohexanone, also known as ketone alcohol oil (KA oil), with nitric acid. It can be further synthesized through a two-stage carbonylation reaction of butadiene, carbon monoxide (CO), and methanol, which further helps produce dimethyl adipate. Adipic acid is corrosive, highly flammable, stable, and an acidulant and exhibits various chemical and mechanical properties. Based on these characteristics, adipic acid is widely used in the manufacturing of diverse home furnishing products, including cushioning materials, bedding foam, furniture, and carpet underlays to improve the comfort and durability of the furniture. Apart from this, adipic acid finds extensive application in the production of nylon 66 and polyurethanes as a reactant to fabricate plasticizers, lubricant components, polyester polyols, and feedstocks, including benzene, ammonia, and cyclohexane.
Adipic acid, or hexanedioic acid (CH2)4(COOH)2, is a slightly soluble, organic white crystalline compound that is commercially formulated by oxidizing the combination of cyclohexanol and cyclohexanone, also known as ketone alcohol oil (KA oil), with nitric acid. It can be further synthesized through a two-stage carbonylation reaction of butadiene, carbon monoxide (CO), and methanol, which further helps produce dimethyl adipate. Adipic acid is corrosive, highly flammable, stable, and an acidulant and exhibits various chemical and mechanical properties. Based on these characteristics, adipic acid is widely used in the manufacturing of diverse home furnishing products, including cushioning materials, bedding foam, furniture, and carpet underlays to improve the comfort and durability of the furniture. Apart from this, adipic acid finds extensive application in the production of nylon 66 and polyurethanes as a reactant to fabricate plasticizers, lubricant components, polyester polyols, and feedstocks, including benzene, ammonia, and cyclohexane.
Adipic Acid Market Trends:
The global adipic acid market growth can be attributed to the considerable expansion in the automotive sector and the increasing demand for premium lightweight vehicles. Adipic acid compounds are utilized in monomer, polyamide 6.6 pellets, polyamide, and nylon 66 formulations that are used to design glass-reinforced and plastic-based structural parts, including engine covers, airbag containers, and several interior and exterior automobile components, owing to their lightweight and temperature-resistant attributes. These components further reduce vehicle weight, improve fuel efficiency and mitigate carbon emissions. In line with this, the escalating consumption of ready-to-eat (RTE) processed edible meals and ready-to-drink (RTD) beverages has facilitated the widespread adoption of adipic acid in the food and beverage (F&B) sector as a leavening agent and an additive, which, in turn, is acting as another growth-inducing factor. Moreover, the rising environmental concerns have prompted governments of several countries to promote the uptake of sustainable approaches for the adipic acid formulation, which is favoring the market growth. In line with this, the introduction of bio-based adipic acid is acting as a major growth-inducing factor. Apart from this, the escalating usage of adipic acid as a difunctional crosslinking agent in paints and coatings and strategic collaborations amongst key players to employ the product in consumer electronic products are positively impacting the market growth.Key Market Segmentation:
The publisher provides an analysis of the key trends in each segment of the global adipic acid market, along with forecasts at the global, regional, and country level from 2024-2032. Our report has categorized the market based on end product, application, and end user.End Product Insights:
- Nylon 66 Fibers
- Nylon 66 Engineering Resins
- Polyurethanes
- Adipate Esters
- Others
Application Insights:
- Plasticizers
- Unsaturated Polyester Resins
- Wet Paper Resins
- Coatings
- Synthetic Lubricants
- Food Additives
- Others
End User Insights:
- Automotive
- Electrical and Electronics
- Textiles
- Food and Beverage
- Personal Care
- Pharmaceuticals
- Others
Regional Insights
- North America
- United States
- Canada
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
Middle East and Africa
The report has also provided a comprehensive analysis of all the major regional markets that include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and Middle East and Africa. According to the report, the Asia Pacific was the largest market for adipic acid. Some of the factors driving the Asia Pacific adipic acid market included its rapid expansion in the electronics sector and the increasing purchase of compact consumer electronic products with superior functionality, such as smartphones, laptops and tablets etc.Competitive Landscape:
The report has also provided a comprehensive analysis of the competitive landscape in the global adipic acid market. Detailed profiles of all major companies have also been provided. Some of the companies covered include Asahi Kasei Corporation, Ascend Performance Materials, BASF SE, Domo Chemicals, Invista (Koch Industries), Lanxess AG, Radici Partecipazioni SpA, Solvay S.A., Sumitomo Chemical Co. Ltd., Tangshan Zhonghao Chemical Co. Ltd., TCI Chemicals (India) Pvt. Ltd., Tian Li High & New Tech Co. Ltd., etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.Key Questions Answered in This Report:
- How has the global adipic acid market performed so far and how will it perform in the coming years?
- What are the drivers, restraints, and opportunities in the global adipic acid market?
- What are the key regional markets?
- Which countries represent the most attractive adipic acid markets?
- What is the breakup of the market based on the end product?
- What is the breakup of the market based on the application?
- What is the breakup of the market based on the end user?
- What is the competitive structure of the global adipic acid market?
- Who are the key players/companies in the global adipic acid market?
Table of Contents
1 Preface3 Executive Summary11 Value Chain Analysis13 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Adipic Acid Market
6 Market Breakup by End Product
7 Market Breakup by Application
8 Market Breakup by End User
9 Market Breakup by Region
10 Drivers, Restraints, and Opportunities
12 Porters Five Forces Analysis
14 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Asahi Kasei Corporation
- Ascend Performance Materials
- BASF SE
- Domo Chemicals
- Invista (Koch Industries)
- Lanxess AG
- Radici Partecipazioni SpA
- Solvay S.A.
- Sumitomo Chemical Co. Ltd.
- Tangshan Zhonghao Chemical Co. Ltd.
- TCI Chemicals (India) Pvt. Ltd.
- Tian Li High & New Tech Co. Ltd.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 138 |
| Published | March 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( US$ | US$ 6.2 Billion |
| Forecasted Market Value ( US$ | US$ 10.2 Billion |
| Compound Annual Growth Rate | 5.7% |
| Regions Covered | Global |
| No. of Companies Mentioned | 12 |
