Global Adipic Acid Market
Market Size in USD Billion
CAGR :
% 
 Forecast Period |
2022 –2029 |
 Market Size (Base Year) |
USD 5.55 Billion |
 Market Size (Forecast Year) |
USD 8.14 Billion |
 CAGR |
% |
| Major Markets Players |
Global Adipic Acid Market, By 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) – Industry Trends and Forecast to 2029
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 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).
Report Scope and Market Segmentation
|
Report Metric |
Details |
|
Forecast Period |
2022 to 2029 |
|
Base Year |
2021 |
|
Historic Years |
2020 (Customizable to 2019 - 2014) |
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Quantitative Units |
Revenue in USD Million, Volumes in Units, Pricing in USD |
|
Segments Covered |
By 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) |
|
Countries Covered |
U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa |
|
Market Players Covered |
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) and Shandong Haili Chemical Industry Company Ltd. (China) |
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Market Opportunities |
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Adipic Acid Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
- Increased Utilization Across End Users
The growing preference for durable and lightweight products in the construction, automotive, and electronics industries, the expansion of the construction industry for the production of insulation materials, housing electronics, and exterior panels, the commercialization of bio-adipic acid, and rising demand due to environmentally friendly chemical processes are all factors that will likely accelerate the growth of the adipic acid market during the forecast period.
The rapid industrialization and continuous growth of the packaging and consumer goods industry will further propel the growth rate of adipic acid market. Additionally, the rising demand for high-quality plastic and improved lifestyle along with the rising demand for comfortable and durable furniture will also drive market value growth. The increasing pressure for clean air and water, and the need to improve the standard of processing and manufacturing end-products are projected to bolster the growth of the market.
Opportunities
Regulations, Innovation and Research and Development
Furthermore, various stringent government safety regulations as well as the innovative techniques for its usage extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Additionally, the growing innovation and research and development activities to develop bio-based plastic will further expand the future growth of the adipic acid market.
Restraints/Challenges
- Issues Associated with Prices
The high manufacturing cost of synthetic based adipic acid combined with fluctuation in raw material prices are estimated to create hindrances for the growth of the adipic acid market.
- Strict Environmental Regulations
Also, the strict environmental regulations will prove to be a demerit for the adipic acid market, which is anticipated to pose a challenge for the growth rate of the adipic acid market.
This adipic acid market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the adipic acid market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Adipic Acid Market
The recent outbreak of coronavirus had a negative impact on the adipic acid market because of the economic slowdown caused by the pandemic, the use of nylon and nylon-based products, particularly in the automobile industry, has declined significantly. As a result, demand for adipic acid in the market for the manufacture of nylon decreased. The nationwide lockdowns and restrictions on export-import activities have significantly impacted the global adipic acid market's supply chains and operations. On the other hand, due to the high demand for drugs during the pandemic, the use of adipic acid in the pharmaceutical industry increased. This has resulted in an increase in market demand for adipic acid.
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
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.
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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Research Methodology
Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Customization Available
Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.
