Growth opportunities in the global adipic acid market look promising over the next six years. Rising demand for lightweight and durable products in the automotive, electronics, and construction industries are key factors driving the global adipic acid market.
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Adipic acid is also known as hexanedioic acid. It is a white crystalline solid that is insoluble in water and is used to make foams, plastics, and other uses. Adipic acid has a vital role as a human xenobiotic metabolite and as a food acidity regulator. Mainly, adipic acid is used as a comonomer with hexamethylenediamine for producing nylon 66 and manufacturing other polymers such as polyurethanes.
The growing adoption of adipic acid in the automotive industry for manufacturing automotive parts by durable, chemical resilient, and strong fibers, coupled with the rise in use in electrical & electronics and consumer goods industry, are some of the drivers surging the growth of the adipic acid market. Nylon 66, being a fundamental shareholder in demand for adipic acid, has increased adoption in various industries such as automotive, which is boosting the growth of the adipic acid in the market globally. Continuous expansion in the construction industry and packaging industries is leading to increased use of adipic acid, further bolstering the growth of the global adipic acid market in the upcoming years. Adipic acid involves various advantages such as low consumption of raw materials, high absorption capacity, reliability, lightweight, durability, strength, and low consumption of energy, and such advantages are enhancing the demand for adipic acid in the market. On the other hand, the presence of rigorous environmental regulations in different regions and the rising use of hybrid fibers in the market will hinder the growth of the global adipic acid market.
Key Players of the Global Adipic Acid Market:
• BASF SE
• Asahi Kasei Corporation
• Invista
• Ascend Performance Materials Inc.
• Radici Group
• Lanxess
• Shandong Hongye Chemical Company Ltd.
• Petrochina Liaoyang Petrochemical
• Solvay and Shandong Haili Chemical Industry Company Ltd.
Market Segmentation:
Global Adipic Acid Market Report Segment by Material Type:
• Fibers
• Engineering Plastics
Global Adipic Acid Market Report Segment by Application:
• Polyurethanes
• Polyamide/Nylon 66
• Adipic/Adipate Esters
• Others
Global Adipic Acid Market Report Segment by Region:
• North America
o United States of America
o Canada
• Asia Pacific
o China
o Japan
o India
o Rest of APAC
• Europe
o United Kingdom
o Germany
o France
o Spain
o Rest of Europe
• RoW
o Brazil
o South Africa
o Saudi Arabia
o UAE
o Rest of the world (remaining countries of the LAMEA region)
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