Market Analysis and Size
In recent years, the adipic acid market and its end products have grown in a linear fashion. This rate of growth is expected to accelerate in the coming years. Quality, durability, lightweight nature, excellent energy absorbing property, an increase in demand for durable polyamide 66, and upcoming safety regulations and the innovative techniques for its utilization is anticipated to be key influencing factors for the global market, with an increased emphasis on its various types and applications.
Global Adipic Acid Market was valued at USD 5.55 billion in 2021 and is expected to reach USD 8.14 billion by 2029, registering a CAGR of 4.91% during the forecast period of 2022-2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.
Market Definition
Adipic Acid Market is basically a white, crystalline compound that is generally utilized in the production of nylon 6, 6. From a commercial standpoint, it is one of the essential acids available as aliphatic dicarboxylic acids. It is also used to produce polyurethanes as a reactant to form plasticizers, lubricant components, and polyester polyols. In most synthetic fiber manufacturing industries, adipic acid is typically produced through the oxidation of cyclohexane or other petroleum-based feedstock. According to statistics, cyclohexane is responsible for the production of more than half of adipic acid. The remainder is derived from cyclohexene and uncoupled cyclohexanol/cyclohexanone (KA oil).
Recent Development
In January 2020, BASF SE announced the acquisition of Solvay's polyamide business in order to expand BASF's polyamide capabilities with innovative and well-known products such as Technyl. This acquisition has also enabled BASF to provide its customers with even better engineering plastics solutions, such as autonomous driving and e-mobility.
Global Adipic Acid Market Scope
The adipic acid market is segmented on the basis of raw material, end product, application and end-user industry. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Raw Material
Cyclohexanol
Cyclohexanone
End Product
Nylon 66 Fibers
Nylon 66 Engineering Resins
Polyurethanes, Adipate Esters
Other End Products
Application
Plasticizers
Unsaturated Polyester Resins
Wet Paper Resins
Coatings
Synthetic Lubricants
Food Additives
Other Applications
End-User Industry
Automotive
Electrical and Electronics
Textiles
Food and Beverages
Personal Care
Pharmaceutical
Other End-User Industries
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Competitive Landscape and Adipic Acid Market Share Analysis
The adipic acid market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to adipic acid market.
Some of the major players operating in the adipic acid market are
INVISTA (U.S.)
Asahi Kasei Corporation (Japan)
TCI Chemicals (India) Pvt. Ltd., (India)
Rhodia Pads (France)
Ascend Performance Materials (U.S.)
Tian Li High & New Tech. Co., Ltd., (China)
Tangshan Zhonghao Chemical Co., Ltd. (China)
BASF SE (Germany)
LANXESS (Germany)
Radici Partecipazioni SpA (Italy)
Solvay S.A. (Belgium)
Sumitomo Chemical Co., Ltd. (Japan)
DSM (Netherlands)
ARD (Canada)
Hongye Chem (China)
PetroChina Company Limited (China)
Shandong Haili Chemical Industry Company Ltd. (China)
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Adipic Acid Market Regional Analysis/Insights
The adipic acid market is analysed and market size insights and trends are provided by country, raw material, end product, application and end-user industry as referenced above.
The countries covered in the adipic acid market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the Adipic Acid market because of the increasing growth of automobile industry along with prevalence of supply hub for engineered polymers within the region.
On the other hand, Asia-Pacific is estimated to show lucrative growth during the forecast period of 2022 to 2029 due to the prevalence of business-friendly atmosphere in the region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
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