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Adipic Acid Market Global Trends, Market Share, Industry Size, Growth, Opportunities, and Market Forecast 2019 to 2029

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Global Adipic Acid Market is estimated to value over USD 8.7 billion by 2029 end and register a CAGR of over 4.9% from 2019 to 2029. The escalating demand for adipic acid from automotive, electrical & electronics, consumer goods, and appliances indu
Adipic Acid Market Global Trends, Market Share, Industry Size, Growth,
Opportunities, and Market Forecast 2019 to 2029
Global Adipic Acid Market is estimated to value over USD 8.7 billion by 2029 end and
register a CAGR of over 4.9% from 2019 to 2029.
The escalating demand for adipic acid from automotive, electrical & electronics,
consumer goods, and appliances industry is one of the chief drivers for the adipic
acid market. The extensive research and development in textile production
technology are also one of the key factors influencing the adipic acid market. The
companies are focusing on developing high quality, durable, lightweight and high
absorption capacity fibers that are capable of enduring extreme conditions such as
high temperatures and are chemically inert as well. Adipic acid market has witnessed
significant growth in the recent decade and the trend is anticipated to continue for
the forecast period. However, the presence of stringent environmental regulations in
different regions and the rise of hybrid fibers is expected to restrain the adipic acid
market.
Increasing commercial use of adipic acid is a major trend being witnessed in this
market owing to the increased manufacturer and consumer understanding of carbon
footprint reduction. Adoption of adipic acid by various industries has increased due
to increased demand for environment-friendly processes of chemical manufacturing
owing to the harmful effects of petroleum-based processes on the environment. One
of the major drivers in the market is the automotive industry which is witnessing an
increase in the application of nylon 66, the main application segment of adipic acid.
Nylon 66 is being used in automobiles extensively to reduce total weight which
increases fuel efficiency.
Volatility in the price of raw materials, especially benzene and the rising prices of
crude oil are a major restraint to the synthetic adipic acid market. Also, stringent
environmental regulations considering adipic acid usage are acting as a restraint in
the global adipic acid market. These concerns have led to the shift of demand from
synthetic to adipic acid. The product of bio-based Adipic acid also provides economic
feasibility compared to synthetic adipic acid.
The opportunity lies in the market with bio-based adipic acid which has shown the
feasibility and is presently in its progress stage. Adipic acid is assumed to be useful
for nearly all applications for which synthetic adipic acid is used currently. Bio-based
adipic acid producers have an opportunity to replace the synthetic adipic acid
market, thus propelling the market globally.
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Market Segmentation
1. By Application
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Polyamide/Nylon 66
 Engineering Plastics
Automotive
Packaging Films & Coating
Industrial/Machinery
Electrical & Electronics
Consumer Goods
Appliances
Wire & Cable
Others
2. By Fibers
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Textile Filament
Industrial Filament
Carpet Filament
Staple Fiber
Polyurethanes
Adipic/Adipate Esters (Plasticizers)
Others
3. By Region
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North America
Europe
Asia Pacific
Latin America
Rest of the World
Engineering polymers in North America, Europe, and the Asia Pacific regions are
likely to account for the largest demand for adipic acid. Adipic acid is used as a
precursor to manufacture nylon 66, a widely used ingredient in advanced
engineering products, which are used in the automobile, construction, footwear,
furniture, and electrical and electronics industries. The Asia Pacific holds excellent
potential for market penetration as adipic acid’s supply in this region is disrupted
owing to low spot prices. Adipic acid manufacturers are capitalizing on cheap,
abundant raw material currently present in the market. However, it may result in
overutilization, therefore bringing down the prices.
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Competitive Landscape:
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Tier 1 players- established companies in the market with a major market
share
Tier 2 players
Emerging players which are growing rapidly
New Entrants
FutureWise Takeaways
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Growth prospects
SWOT analysis
Key trends
Key data points affecting market growth
Objectives of the Study:
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To provide an exhaustive analysis on the global adipic acid market by
application type, by fibres and by region
To cater comprehensive information on factors impacting market growth
(drivers, restraints, opportunities, and industry-specific restraints)
To evaluate and forecast micro-markets and the overall market
To predict the market size, in key regions (along with countries)—North
America, Europe, Asia Pacific, Latin America, and the rest of the world
To record evaluate and competitive landscape mapping- product launches,
technological advancements, mergers and expansions
Profiling of companies to evaluate their market shares, strategies, financials
and core competencies
Inquire further details about this report at: [email protected]
About FutureWise Research:
We specialise in high-growth niche markets, assuring flexibility, agility and
customised solutions for our clients. Through in-depth market insights and
consultancy, we present our clients with the tools they need to be at the forefront of
their industry – a position secured for far more than the near future.
Contact Us:
Company Name: FutureWise Research
Contact Person: Vinay Thaploo
Email: [email protected]
Phone: +44 141 628 9353 / +1 970 279 4295
City: Leeds
Country: United Kingdom
Website: www.futurewiseresearch.com
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