Global Adipic Acid Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027
Global Adipic Acid Market Overview:
“The global Adipic Acid market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”
The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint.
The global adipic acid market report has been segmented on the application, end-use industry, and region.
Adipic acid is an organic compound that is mildly toxic, white, and crystalline. Adipic acid is insoluble in water and is mainly used in the production of nylon fiber, engineering plastics, and polyurethane in quantity. High-quality ester of adipic acid can be used as PVC and its copolymer, plasticizer of natural synthetic rubber.
Global Adipic Acid Market Dynamics:
The increasing preference of automotive manufacturers towards the use of nylon 6, 6, coupled with the rapidly growing automotive industry globally is a major factor expected to boost the growth of the target market over the forecast period.
Furthermore, several advantages offered by adipic acid which include low cost, considerable lightweight, as well as excellent performance, thereby improving fuel efficiency is another major factor expected to drive the growth of the global adipic acid market over the forecast period.
In addition, increasing demand for adipic acid from various end-use industries such as electrical & electronics industries is expected to propel the growth of the target market over the forecast period.
Increasing disposable income, coupled with a rapidly growing population is in turn expected to boost the growth of the food & beverages industry, and increasing demand for nylon 6, 6 fiber in the packaging of food & beverage products is expected to support the growth of the target market over the forecast period.
Companies operating in the target market can enter into a strategic partnership in order to develop novel products which in turn is expected to propel the growth of the global market.
Market in North America accounted for a significant revenue share of the global adipic acid market in terms of revenue contribution as compared to that of markets in other regions, in 2017.
Asia Pacific accounts for the second-highest revenue share contribution to the global market, registering a share of XX.X%, followed by markets in Europe, Latin America, and the Middle East & Africa respectively. In addition, the market in the Asia Pacific is projected to register the fastest growth in terms of revenue over the next 10 years.
Rapidly growing industrialization particularly in countries like India, and China, coupled with rapidly growing automotive, packaging film & coating, and electronics industries are major factors expected to support the growth of the market in the region over the forecast period.
The increasing presence of international and domestic manufacturers for adipic acid is expected to propel the growth of the market in the region over the forecast period.
The markets in Latin America and Middle East & Africa are expected to register a moderate growth rate in the global adipic acid market over the forecast period.
Global Adipic Acid Market Segementattion:
Segmentation on the basis of application:
- Nylon 6,6 Fiber
- Nylon 6, 6 Resins
- Adipate Esters
Segmentation on the basis of end-use industry:
- Packaging film & coating
- Electrical & Electronics
- Others (Appliances and Consumer goods)
Segmentation on the basis of region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Asahi Kasei Corporation
- Ascend Performance Materials Inc.
- BASF SE
- INVISTA S.à r.l.
- Lanxess Corporation
- Petrochina Liaoyang Petrochemical Company
- Radici Group
- Shandong Haili Chemical Industry Company, Ltd.
- Shandong Hongye Chemical Company, Ltd.
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