The adipic acid market is estimated to be valued at USD 6.45 Bn in 2024, exhibiting a compound annual growth rate (CAGR) of 4.5% from 2024 to 2031. Adipic acid is an important raw material used in the manufacturing of nylon 6,6 fiber and resins. It is an organic compound with the formula (CH2)4(COOH)2. Adipic acid has wide industrial applications in textiles, coatings, synthetic lubricants, food additives, and plastics. The growing demand for nylon 6,6 from the automotive and construction industries has been a major driver for the growth of the adipic acid market in recent years.
Market Dynamics:
The global adipic acid market has been witnessing steady growth driven by increasing demand from major end-use industries such as automotive, textiles, and coatings. Rise in the global automotive production accompanied by growing consumption of engineering plastics in vehicles has augmented the demand for adipic acid. Additionally, expanding construction industry worldwide using nylon 6,6 for carpets and insulation materials has boosted the market. However, fluctuations in crude oil prices which is the primary raw material for adipic acid production poses a major challenge. On the other hand, the development of bio-based production technology provides new opportunities in the market.
Key Features of the Study:
- This report provides an in-depth analysis of the global adipic acid market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
- It elucidates potential revenue growth opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global adipic acid market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include Asahi Kasei Corporation, Ascend Performance Materials, BASF SE, Invista, Lanxess Ag, PetroChina Liaoyang Petrochemical, Radici Group, Rhodia, Shandong Haili Chemical Industry Company Ltd., Shandong Hongye Chemical Company Ltd, DOMO Chemicals, Sumitomo Chemical Co., Ltd., Solvay, Liaoyang Tianhua Chemical Co., Ltd, Meru Chem Pvt. Ltd, EMCO Dyestuff, and JPM Pharma & Chemicals Pvt. Ltd.
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- The global adipic acid market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global adipic acid market
Detailed Segmentation-
- By Application:
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- Nylon 6, 6 Fiber
- Nylon 6, 6 Resin
- Polyurethanes
- Others
- By End-use Industry:
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- Automotive
- Electrical & Electronics
- Home Appliances
- Textiles
- FMCG
- By Region:
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- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Company Profiles:
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- Asahi Kasei Corporation
- Ascend Performance Materials
- BASF SE
- Invista
- Lanxess Ag
- PetroChina Liaoyang Petrochemical
- Radici Group
- Rhodia
- Shandong Haili Chemical Industry Company Ltd.
- Shandong Hongye Chemical Company Ltd
- DOMO Chemicals
- Sumitomo Chemical Co., Ltd.
- Solvay
- Liaoyang Tianhua Chemical Co., Ltd
- Meru Chem Pvt. Ltd
- EMCO Dyestuff
- JPM Pharma & Chemicals Pvt. Ltd.
