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Adipic acid or synthetic dicarboxylic acid is used as a key ingredient for the making of nylon. Also, Adipic acid is widely used in the chemical industry for the manufacturing of coatings, plasticizers, polymers, and detergents. Polyamides, adipate/Adipic esters, polyurethane, polyester polyols, food additives, pharmaceuticals, and others are the various applications where-in Adipic acid is used.
According to Researcher, the global adipic acid market is expected to witness a moderate growth rate during the forecast period with a CAGR of 3.1%. The major factors responsible for the growth of the global Adipic acid market are increasing demand from the automotive industry and the food industry. Nylon composite material, which is prepared using adipic acid, is used in the automotive industry and is likely to drive the global adipic acid market during the forecast period.
Due to the growing hot-melt adhesives application and its low spot prices, the Asia-Pacific (APAC) is projected to have the highest growth in the next few years and is the leading market for the Adipic acid market. Also, high demand from automotive manufacturers from countries in this region such as China, India, and Japan is projected to drive the market.
In terms of intermediate application, adipic acid is usually used to make polyamides and this segment has the highest market share due to its properties such as durability, lightweight nature, quality, and excellent energy absorbing property.
The Global Adipic acid market is fragmented.
In March 2020, Researchers from China University of Petroleum, Huabei Oil Field Company at PetroChina, and Xiangtan University had developed a new process to produce Adipic acid using Heterogeneous Catalysts. The newly developed process is a cleaner process where-in adipic acid is synthesized from bio-renewable feedstocks, as compared to the current industrial petrochemical process which produces adipic acid from ketone-alcohol oil, catalyzed by nitric acid, creates serious pollution to the environment, due to the formation of waste nitrous oxide
Global Adipic acid Market report provides deep insight into the current and future state of the Adipic acid market across various regions. The study comprehensively analyzes the Adipic acid market by segmenting based on Type (Synthetic and Bio-based), Intermediate applications (Polyamides, Polyurethanes, Adipate esters (Plasticizers) and Others), End-User Industry (Automotive, Electrical and electronics, Packaging films and coatings, Food Additives, Pharmaceuticals, and Others), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The report examines the market drivers and restraints, along with the impact of Covid-19 on the market growth in detail. The study covers & includes emerging market trends, developments, opportunities, and challenges in the industry. This report also covers extensively researched competitive landscape sections with profiles of major companies, including their market shares and projects.
According to Researcher, the global adipic acid market is expected to witness a moderate growth rate during the forecast period with a CAGR of 3.1%. The major factors responsible for the growth of the global Adipic acid market are increasing demand from the automotive industry and the food industry. Nylon composite material, which is prepared using adipic acid, is used in the automotive industry and is likely to drive the global adipic acid market during the forecast period.
Due to the growing hot-melt adhesives application and its low spot prices, the Asia-Pacific (APAC) is projected to have the highest growth in the next few years and is the leading market for the Adipic acid market. Also, high demand from automotive manufacturers from countries in this region such as China, India, and Japan is projected to drive the market.
In terms of intermediate application, adipic acid is usually used to make polyamides and this segment has the highest market share due to its properties such as durability, lightweight nature, quality, and excellent energy absorbing property.
The Global Adipic acid market is fragmented.
Major players
in the market were found to be Ascend Performance Materials, BASF SE, Asahi Kasei Corporation, and Lanxess AG, among others.In March 2020, Researchers from China University of Petroleum, Huabei Oil Field Company at PetroChina, and Xiangtan University had developed a new process to produce Adipic acid using Heterogeneous Catalysts. The newly developed process is a cleaner process where-in adipic acid is synthesized from bio-renewable feedstocks, as compared to the current industrial petrochemical process which produces adipic acid from ketone-alcohol oil, catalyzed by nitric acid, creates serious pollution to the environment, due to the formation of waste nitrous oxide
Global Adipic acid Market report provides deep insight into the current and future state of the Adipic acid market across various regions. The study comprehensively analyzes the Adipic acid market by segmenting based on Type (Synthetic and Bio-based), Intermediate applications (Polyamides, Polyurethanes, Adipate esters (Plasticizers) and Others), End-User Industry (Automotive, Electrical and electronics, Packaging films and coatings, Food Additives, Pharmaceuticals, and Others), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The report examines the market drivers and restraints, along with the impact of Covid-19 on the market growth in detail. The study covers & includes emerging market trends, developments, opportunities, and challenges in the industry. This report also covers extensively researched competitive landscape sections with profiles of major companies, including their market shares and projects.
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This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
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