According to a report by ChemAnalyst titled “Global Adipic Acid Market Analysis: Industry Market Size, Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-Use, Sales Channel, Regional Demand, Foreign Trade, Company Share, 2015-2035,” it is projected that the Adipic Acid market will experience substantial growth, reaching approximately 4,300 thousand tonnes by 2035, with an expected Compound Annual Growth Rate (CAGR) of 3.65% throughout the forecast period. The upsurge in demand from various industries such as Automotive, Electrical & Electronics, Industrial Applications, Building & Construction, and others is poised to drive the Adipic Acid market in the coming years.
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According to a report by ChemAnalyst titled “Global Adipic Acid Market Analysis: Industry Market Size, Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-Use, Sales Channel, Regional Demand, Foreign Trade, Company Share, 2015-2035,” it is projected that the Adipic Acid market will experience substantial growth, reaching approximately 4,300 thousand tonnes by 2035, with an expected Compound Annual Growth Rate (CAGR) of 3.65% throughout the forecast period. The upsurge in demand from various industries such as Automotive, Electrical & Electronics, Industrial Applications, Building & Construction, and others is poised to drive the Adipic Acid market in the coming years.
Adipic Acid, with the chemical formula (CH2)4(COOH)2, is a crystalline white salt produced through the oxidation of cyclohexanone and cyclohexanol using nitric acid in a multi-step process. This versatile chemical finds application in various industries, including polyurethanes, adipic esters, plasticizers, and food additives. Moreover, it serves as a vital component in certain water-based acrylic emulsion paints and varnishes, playing a role in cross-linking. However, its primary use lies in the production of nylon 6,6, where it acts as a comonomer with hexamethylenediamine. Nylon 6,6 is widely utilized in the manufacturing of apparel, sporting goods, consumer goods, electronics, and household products.
The global Adipic Acid market is predominantly driven by its role in the production of Nylon 6,6, known for its lightweight properties and durability, making it a preferred material in industries like textiles and automotive. The most significant application of Nylon 6,6 is in manufacturing automotive components, such as engine covers, air intake pipes, airbag containers, and glass-reinforced polymers. This application not only reduces the overall vehicle weight by 7-8% but also contributes to a reduction in carbon dioxide emissions, driving the growth of the Adipic Acid market. Additionally, the demand for paints and coatings is expected to rise, further bolstering the Adipic Acid market due to rapid construction and development of residential and commercial properties in the forecast period.
The global Adipic Acid market is categorized based on end-use, sales channels, and regions. End-use sectors include Automotive, Electrical & Electronics, Industrial Applications, Building & Construction, and Others. The Automotive Industry leads the Adipic Acid market, accounting for approximately 39% of the market share in 2022, a position expected to be maintained due to the increasing global demand for vehicles.
In terms of regional demand, the Asia Pacific region dominates the global Adipic Acid market, consuming nearly 40% of the global Adipic Acid supply in 2022. China stands out as a leading producer of Adipic Acid globally and is expected to maintain this position in the years to come.
Key players in the Adipic Acid market, as highlighted in the report, include BASF SE, Chongqing Huafon Chemical Co., Ltd., Shandong Haili Chemical Industry Co., Ltd., INVISTA, Shandong Hualu Hengsheng Chemical Co., Ltd., Shenma Industrial Co., Ltd., China National Petroleum Corporation, Zhejiang Shuyang Chemical Co., Ltd, Tangshan Zhonghao Chemical Co., Ltd., LANXESS, and Radici Partecipazioni SpA.
The expansion of the global Adipic Acid market is anticipated to be primarily driven by the increasing demand for Nylon 6,6 in the production of vehicle interior and exterior components, with properties such as durability and lightweight characteristics making it a preferred material. These factors are expected to boost the demand for Adipic Acid globally in the forecast period, as stated by Mr. Karan Chechi, Research Director at TechSci Research, a research-based management consulting firm that promotes ChemAnalyst worldwide.
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https://www.chemanalyst.com/industry-report/adipic-acid-market-715
Key players in the Adipic Acid market, as highlighted in the report, include BASF SE, Chongqing Huafon Chemical Co., Ltd., Shandong Haili Chemical Industry Co., Ltd., INVISTA, Shandong Hualu Hengsheng Chemical Co., Ltd., Shenma Industrial Co., Ltd., China National Petroleum Corporation, Zhejiang Shuyang Chemical Co., Ltd, Tangshan Zhonghao Chemical Co., Ltd., LANXESS, and Radici Partecipazioni SpA.
The expansion of the global Adipic Acid market is anticipated to be primarily driven by the increasing demand for Nylon 6,6 in the production of vehicle interior and exterior components, with properties such as durability and lightweight characteristics making it a preferred material. These factors are expected to boost the demand for Adipic Acid globally in the forecast period, as stated by Mr. Karan Chechi, Research Director at TechSci Research, a research-based management consulting firm that promotes ChemAnalyst worldwide.
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