The Global Adipic Acid Market is Projected to Reach 8 Billion Pounds by 2022

Stable Demand from End-Use Sectors to Sustain Growth in the Global Adipic Acid Market, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Adipic Acid market. The global Adipic Acid market is projected to reach 8 billion pounds by 2022, driven by the growing demand in the downstream product markets including nylon 6/6, polyurethane resins, plasticizers, and food additives coupled with the shift towards bio-based adipic acid.

Adipic acid is a crystalline white compound, used in the manufacture of a wide range of products in across varied end-user sectors. The compound’s lightweight attributes, high quality, durability, and superior energy-absorbing features are contributing to its increasing use in a variety of applications. Adipic acid is primarily used in the form of feedstock in the production of nylon 66 fibers and resins, with polyurethane, food additives, and plasticizers among other key applications of the compound. Adipic acid-based products are commonly used in the automotive, electronics & electrical, synthetic leather, sporting goods, footwear, food & beverages, packaging films, and pharmaceutical industries. In the coming years, sustained increase in the consumption of adipic acid-based products in end-use industries is expected to play a crucial role in driving market growth. Rising demand for nylon 6,6 fibers and resins as feedstock in applications such as technical fibers, tire-cord, textiles and carpets, and in the manufacture of lightweight automotive parts is expected to fuel adipic acid consumption.

In addition, factors such as the adoption of stringent safety regulations, development of innovative techniques, and favorable long-term prospects for eco-friendly bio-based adipic acid are poised to accelerate market growth. Increased focus on R&D for textile production technology is proving beneficial for the market. Focus is specifically on the development of durable, high quality, lightweight and higher absorption capacity fibers that are chemical inert and can also endure extreme conditions such as those involving high temperature conditions. The market is however being adversely impacted by volatile prices of raw materials and increase in prices of other feedstock, which is driving consumers towards low-cost alternative products. Adoption of stringent environmental regulations in North America and Europe is also leading to a decline in demand for synthetic adipic acid, as its production process leads to the release of nitrous oxide emissions into the atmosphere.

As stated by the new market research report on Adipic Acid, Asia-Pacific represents the largest market worldwide supported by the development of automotive, electronics manufacturing and footwear industries in countries such as China and India. China especially solidifying its position as the core market with several adipic acid producers expanding capacity in the country to take advantage of favorable tax regulations and incentives. The Middle East & Africa is forecast to emerge as the fastest growing market with a CAGR of 7.2% over the analysis period.

Major players in the market include Asahi Kasei Corporation, Ascend Performance Materials LLC, BASF SE, BioAmber Inc., Genomatica Inc., Huafon Group Co. Ltd., INVISTA, JiangSu Haili Chemical Industry Co. Ltd., LANXESS AG, PetroChina Company Ltd., Radici Partecipazioni SpA, Shandong Haili Chemical Industry Co. Ltd.,  Shandong Hongye Chemical Group Co. Ltd., Solvay SA, Sumitomo Shoji Chemical Co. Ltd., Taiyuan Chemical Industry Group Co. Ltd., Tokyo Chemical Industry Co. Ltd., and Verdezyne, Inc. among others.

The research report titled “Adipic Acid: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies. The report provides market estimates and projections in Thousand Pounds for all major geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China and Rest of Asia-Pacific), Middle East & Africa, and Latin America (Brazil and Rest of Latin America). End-use segments analyzed include Nylon 6/6, Polyurethane Resins, Plasticizers and Others.

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