Global Adipic Acid Market Size study & forecast, by Application (Nylon 6 6 Fiber, Nylon 6 6 Resins, Polyurethanes, Adipate Esters, Others) and Regional Analysis, 2022-2029

Global Adipic Acid Market Size study & forecast, by Application (Nylon 6 6 Fiber, Nylon 6 6 Resins, Polyurethanes, Adipate Esters, Others) and Regional Analysis, 2022-2029

Global Adipic Acid Market is valued at approximately USD 5.55 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 4.91% over the forecast period 2022-2029. Adipic acid is a dicarboxylic acid with the chemical formula C6H10O4. It is a white, crystalline solid that is soluble in water and commonly used as a precursor to the production of nylon. Adipic acid is also used as a food additive to impart a tart taste and in the production of various other chemicals, including polyurethane and plasticizers. It is produced industrially through a two-step process involving the oxidation of cyclohexane or benzene, or by the carbonylation of butadiene. Adipic acid is an important chemical compound with a wide range of applications in industry and daily life. The key factor driving the market growth is a growing demand in the automotive industry and rising use in the personal care and electronics industry is anticipated to support the market growth during the forecast period.

Moreover, adipic is a widely used raw material to produce various polymers and copolymers that are commonly used in the manufacturing of automotive components and materials. Thus, the rising automotive industry is anticipated to create a lucrative demand for the market. According to Statista, in 2019, the global automotive manufacturing industry size was USD 2.71 trillion, and the number reached USD 2.95 trillion in 2022. Additionally, growing innovation and research and development activities to develop bio-based plastic are anticipated to create a lucrative opportunity for the market during the forecast period. However, the stringent environmental regulations regarding the production process stifle market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Adipic Acid Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the dominating region across the world in terms of market share, owing to the presence of key market players, and rising utilization of nylon 6, 6 fiber from the automotive industry. Whereas, Asia Pacific is also anticipated to exhibit the highest growth rate over the forecast period, owing to factors such as growing consumption of polyurethane in industries including construction, automotive, and electronics in the region would create lucrative growth prospects for the Adipic Acid market across Asia Pacific region.

Major market player included in this report are:
INVISTA (U.S.)
Asahi Kasei Corporation (Japan)
TCI Chemicals 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)

Recent Developments in the Market:
In Aug. 2022, Toray Company developed 100% bio-based adipic acid for sustainable PA66 manufacturing in cooperation with Japan's National Institute of Advanced Industrial Science and Technology and RIKEN.

Global Adipic Acid Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Application, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Application:
Nylon 6 6 Fiber
Nylon 6 6 Resins
Polyurethanes
Adipate Esters
Others

By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Rest of the World

Companies Mentioned

INVISTA (U.S.)
Asahi Kasei Corporation (Japan)
TCI Chemicals 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)

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