Adipic acid also referred to as an hexanedioic acid, is a white crystalline solid that is insoluble in water and is used for making foams and plastics and for other uses. Adipic acid has a role as a human xenobiotic metabolite and as a food acidity regulator. Mostly all adipic acid is used as a comonomer with hexamethylenediamine for producing nylon 66 and also used for manufacturing other polymers such as polyurethanes.
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The factors fuelling the growth of adipic acid market include the rising adoption of adipic acid in the automotive industry for the manufacturing of automotive parts by durable, chemical resilient, and strong fibers along with the increase in use in electrical & electronics and consumer goods industry. Nylon 66 being a significant shareholder in demand for adipic acid, is having high adoption in several industries such as automotive, which is paving the way for adipic acid in the market around the globe. Rapid expansion in the construction industry and packaging industries is leading to increased use of adipic acid, further propelling the growth of the global adipic acid market during the forecast period. Adipic acid involves several advantages such as low consumption of raw materials, reliability, durability, light – weight, strength, high absorption capacity, and low consumption of energy, and such advantages are creating an upsurge in the demand of adipic acid in the market. The factors which are responsible for hampering the growth of the global adipic acid marketinclude the presence of stringent environmental regulations in various regions and an increase in the use of hybrid fibers in the market.
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Various notable players operating in the global adipic acid market, including BASF SE, Asahi Kasei Corporation, Invista, Ascend Performance Materials Inc., Radici Group, Lanxess, Shandong Hongye Chemical Company Ltd., Petrochina Liaoyang Petrochemical, Solvay and Shandong Haili Chemical Industry Company Ltd. among others.
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The global adipic acid market has been segmented on the basis of material type, application and key geographies. The material type segment market is categorized into Fibers and Engineering Plastics. The application segment market is segmented into Polyurethanes, Polyamide/Nylon 66, Adipic/Adipate Esters and Others.
Key questions answered in this research report:
- At what pace is global adipic acid market growing? What will be the growth trend in the future?
- What are the key drivers and restraints in the current market? What will be the impact of drivers and restraints in the future?
- What are the regional revenue and forecast breakdowns? Which are the major regional revenue pockets for growth in the global adipic acid market?
- What are the various application areas and how they are poised to grow?
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