Adipic Acid Industry 2021 Analysis by Key Players, Applications, Growth Trends and Share to 2027

 Market Overview:

The response among cyclohexanol and cyclohexanone can blend adipic acid. It is one of the unmistakable kinds of aliphatic dicarboxylic acids because of their critical use as a feedstock in the assembling of mechanical filaments. They have incredible properties like predominant solidness, outrageous climate execution, and synthetic safe which make them reasonable for the use in various closures use enterprises like car, material, bundling and purchaser merchandise, electrical and hardware, building and development, and others.

A portion of the unmistakable components that decidedly impact the development of the Adipic Acid Industry are developing interest for homegrown apparatuses, expanding per capita extra cash, and expanding utilization of adipic acid in bundling and customer merchandise. Furthermore, blasting structure and development industry and expanding use of plastic items in business, just as private area are assessed to drive the interest for adipic acid over the estimate period. Besides, expanding interest for lightweight vehicle parts alongside rising car creation and deals in non-industrial nations is assessed to drive the interest for adipic acid over the gauge period. Be that as it may, fluctuating raw petroleum cost has solid effect on the artificially crude material value which is probably going to ruin the development of the market.

Competitive analysis

The major players operating in the adipic acid market are INVISTA (U.S.), PetroChina Company Limited (China), Asahi Kasei Corporation (Japan), Ascend Performance Materials (U.S.), BASF SE (Germany), LANXESS (Germany), Radici Partecipazioni SpA (Italy), Solvay S.A. (Belgium), Sumitomo Chemical Co., Ltd. (Japan), BioAmber Inc (U.S.), Shandong Hongye Chemical Company, Ltd. (China) among others.

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Market Segmentation

The global adipic acid market is classified on the basis of application, end-use industries, and region. On the basis of application, the market is classified into polyurethane, nylon 6,6 fiber, nylon 6,6 resin, adipate esters, and others. Among these, nylon 6,6 fiber accounted for the largest market share in 2015 and is predicted to retain their dominance over the forecast period due to increasing usage in automotive industry. Moreover, it is used as a flavoring and gelling agent in food industry. Continuous growth of food & beverage industry on account of changing food habits combined with expanding population is estimated to rise the market growth over the assessment period. On the basis of end-use industries, the market is categorized into automotive, electrical & electronics, packaging & consumer goods, building & construction, textile, and others. Others end-use industries include food, medical, and furniture. Among the end use industries segment, automotive is expected to witness significant growth due to increasing automotive production and sales in developed and developing countries. Packaging and consumer goods segment are predicted to witness healthy growth due to increasing demand for household appliances along with increasing disposable income.

Regional Analysis

The Asia Pacific is predicted to dominate the adipic market followed by Europe and North America due to increasing demand from automotive, electrical & electronics, and consumer goods. Various countries of the Asia Pacific such as Japan, Thailand, India, China, Vietnam, Malaysia, and South Korea are the fastest growing adipic acid market across the globe and is expected to grow with the same pace over the forecast period. Some of the factors that are attributed to the growth of the market in the Asia Pacific are increasing middle-class population, rising number of working professionals, competitive production costs, and ease in availability of raw material. European adipic acid market is estimated to witness steady growth on account of significant demand from automobile manufacturers. North America adipic acid market is predicted to witness a steady growth since the U.S, and Canada is the major contributors on account of growing textile and healthcare sector along with increasing maintenance of building & construction activities.

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