Adipic Acid Market, By Raw Material (Cyclohexanol and Cyclohexanone), By End Product (Nylon 66 Fibers, Nylon 66 Engineering Resins, Polyurethanes, Adipate Esters, and Others), By Application (Plasticizers, Unsaturated Polyester Resins, Wet Paper Resins, Coatings, Synthetic Lubricants, Food Additives, and Others), By End-User (Automotive, Electrical and Electronics, Textiles, Food and Beverages, Personal Care, Pharmaceutical, and Others), and By Region - Global Opportunity Analysis and Ind

Adipic Acid Market size was valued at USD 6.3 million in 2020 and it expected to garner USD 9.5 million by 2030, register the CAGR of 4.2% during the forecast period.Adipic acid is as dicarboxylic acid which contains two carbonyl group, produced about 2.5 billion kilogram per year. It is naturally found in sugar cane and beets. It is synthesized from benzene and crude oil. It is used to manufacture lubricant component and plasticizes, about 90% of adipic acid is used in making of nylon. In food industries, it is used as acidulant, leavening agent, buffering agent, gelling aid and gives tart & sweet flavor. It is also used in medicine to control the acid and base concentration. Fluctuation in price of main raw components, benzene and crude oil is main restrain for the market.

Market Segmentation:

On the basis of raw material, global adipic acid market is categorized into cyclohexanone and cyclohexanol. According to end product use, the market is segmented into nylon 66 fibers, polyurethanes, nylon 66 engineering resins, adipate esters, and others. On the basis of application, the market is divided into unsaturated polyester resins, plasticizer, coatings, wet paper resins, food additives, synthetic lubricant, and others. On the basis of end user, the adipic acid market is divided into textiles, electronics and electrical, automotive, personal care, food and beverages, and others. By geography, the adipic acid market is divided into North America, Europe, Asia Pacific, and RoW.

Market Dynamics and Factors:

Increase in demand of adipic acid in electrical & electronics, automotive, consumer goods and appliance industry are the main drivers of the adipic acid market. R&D in textiles production also helps in the market growth, as companies are focusing light weight, durable, high quality and high absorption quality which are capable during extreme condition like chemical and temperature. The presence of environmental restrict rules and regulation, fluctuation in raw material prices, and increase in the use of hybrid fiber are restraining the adipic acid market.

Geographic Analysis:

Asia Pacific is dominating the global adipic acid market in terms of volume. High demand from automotive sector chief market of raw material in China and India which help the market to grow in this region with highest CAGR of 11.2%. Followed by Asia Pacific is most promising region in terms of growth due to relaxing rules and regulation and easily presence of raw materials. In term of revenue, North America is largest market, and has more demand of adipic acid due to presence of textile industries, and pharmaceutical industries. Increase in food & beverage, and automotive sector in this region help the adipic acid market to grow.  

Competitive Scenario:

Major players in the global adipic acid industry are PetroChina Company Limited, INVISTA, Asahi Kasai Corporation, BASF SE, Ascend Performance Materials, LANXESS, Solvey S.A., Radici Partecipazioni SpA, Bioamber Inc, Sumitomo Chemical Co. Ltd., Shandong Hongye Chemical Company Ltd., and PetroChina Liaoyang Petrochemical.

Adipic Acid Market Report Scope