The report predicts the global Adipic Acid Market to grow at a healthy CAGR of 3.7% over the forecast period from 2022-2031.
The report covers the adipic acid market on the basis of material type, applications, and geography. The market data for these types is given with respect to volume (thousand tons) and value ($Million). The market value of adipic acid was estimated to be $5,884.6 million in 2022, and is projected to grow with a CAGR of 3.7% from 2022 to 2031. The data mentioned in the report are based on the global demand for the adipic acid.
The total market for adipic acid has been analyzed based on the Porter’s five forces model. This gives an idea about the current proceedings in the industry at the commercial level. The study provides the value chain analysis with respect to adipic acid raw materials, manufacturers, polyamide 66 demand, and end uses. The value chain describes the key contributors to the materials market at different stages from product development to end use. It represents the top players which are contributing to the global adipic acid industry.
The impact of different market factors, such as drivers, restraints, and opportunities is also illustrated in the report. This gives an idea about the key drivers such as the automotive industry – weight reduction in vehicles, growth in film & coating applications, growth of emerging economies; and restraints such as moisture absorption resulting in degradation of properties, and current economic condition of Europe. The economic slowdown in Europe and U.S. also affected the economy of other developed countries that are of key importance for the commercial success of new materials and its end-user market.
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The adipic acid market is also classified based on different applications. The important applications in polyamide 66 include textiles, industrial, carpet filament, staple fiber, automotive, film & coating, industrial/machinery, electrical & electronics, consumer goods, appliances, wires & cables, and others. The adipic acid consumption in polyamide 66 industry for industrial/machinery, electrical and electronics, and automotive applications are expected to show rapid growth in the future.
The key companies in this market are Asahi Kasei Corporation (Japan), PetroChina Liaoyang Petrochemical (China), Shandong Haili Chemical Industry Company Ltd. (China), and Shandong Hongye Chemical Company, Ltd. (China) are the most active and important players of the adipic acid industry in the Asia-Pacific market. These companies are consistently focusing on expanding their production capacity to achieve a competitive advantage and thereby serving the customers more effectively. Investments, followed by expansions were the most preferred strategies by the top players in the year 2012 that are driving the demand of adipic acid.
The Asia-Pacific region emerged to be the driving factor for this market, contributing for about 38.0% of the global demand in terms of consumption for the year 2012. China is the leading country in the consumption of adipic acid due to the increased demand of polyamide 66 from the automotive and packaging industries. The important emerging economies such as Brazil, India, Russia, etc. are further lined up for a higher growth in this market.
The report also presents a competitive landscape covering different strategies and developments such as mergers & acquisitions, expansions, and agreements undertaken by the leading adipic acid companies in the past few years. Furthermore, different adipic acid market participants are also profiled in the report.
Scope of the report
The report segments the global adipic acid market as:
The adipic acid market has been covered in detail in this report. In order to provide an in-depth picture, the current market demand and forecasts have also been included.
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On the basis of applications:
- Polyamide 66
- Adipic Esters
On the basis of Polyamide 66 Material type:
- Engineering plastics
- Film & coating
- Electrical & electronics
- Consumer goods
- Wires & cables
- Textile filament
- Industrial filament
- Carpet filament
- Staple fibers
On the basis of geography:
- North America
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