Adipic Acid Market Size to Grow at a CAGR of 3.74% during the forecast period, 2035 | ChemAnalyst

 According to ChemAnalyst report, “Global Adipic Acid Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-Use, Sales Channel, Regional Demand, Foreign Trade, Company Share, 2015-2035”, The Adipic Acid market will likely experience a significant rise and reach approximately 4000 thousand tonnes in 2035, at an expected CAGR of 3.74% during the forecast period by 2035. The growing demand from the Automotive, Electrical & Electronics, Industrial Application, Building & Construction, and Other end-use industries is anticipated to hike up the demand for the Adipic Acid market in the forecast period.

Adipic Acid has a chemical formula of (CH2)4(COOH)2. This crystalline white salt can be prepared by oxidation of cyclohexanone and cyclohexanol with nitric acid in a multistep pathway. Adipic Acid is a versatile chemical utilized in various industries. Adipic Acid is also used in polyurethanes, adipic esters, plasticizers, and food additives, among other things. Additionally, some water-based acrylic emulsion paints and varnishes use adipic Acid as a difunctional cross-linking component. However, the main use of adipic Acid is in the production of nylon 6,6 when it is used as a comonomer with hexamethylenediamine. Apparel, sporting goods, consumer goods, electronics, home goods, and other products are made using nylon 6,6.

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The Adipic Acid market globally is primarily driven by its usage for manufacturing Nylon 6,6. Due to its lightweight nature and durability, Nylon 6,6 is employed in multiple industries such as textile and automotive. The most vital application of Nylon 6,6 lies in the manufacturing components of automobiles, such as engine coverings, air intake pipes, airbag containers, and glass-reinforced polymers. This, in turn, reduces the overall weight by 7-8%, thus reducing carbon dioxide emissions. This application is anticipated the robust growth of the Adipic Acid market in the upcoming years. Additionally, the demand for paints and coatings is expected to increase, which would likely lead to a growth in the adipic acid market in the forecast period. These industries are expected to see further expansion due to rapid development, construction of homes and commercial complexes in the forecast period.

The global Adipic Acid market is segmented based on end-use, sales channel, and region. Based on end-uses, the Adipic Acid market is segregated into Automotive, Electrical & Electronics, Industrial Application, Building & Construction, and Others. The Automotive Industry is leading the Adipic Acid market and accounted for a market share of about 40% of the Adipic Acid market in 2021. It is anticipated to retain this position in the forecast period owing to the rising demand for vehicles across the globe.

Based on demand by region, Asia Pacific dominates the global Adipic Acid market, consuming nearly 40% of the global Adipic Acid in 2021 amongst all other areas. Furthermore, China is leading as a worldwide producer of Adipic Acid and is expected to remain the leader in the upcoming years.

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 “Global Adipic Acid Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-Use, Sales Channel, Regional Demand, Foreign Trade, Company Share, 2015-2035”, the significant players active in the Adipic Acid market are BASF SE, Chongqing Huafon Chemical Co., Ltd., Shandong Haili Chemical Industry Co., Ltd, INVISTA, Shandong Hualu Hengsheng Chemical Co., Ltd., Shenma Industrial Co., Ltd., China National Petroleum Corporation, Zhejiang Shuyang Chemical Co.,Ltd, Tangshan Zhonghao Chemical Co., Ltd., LANXESS, and Radici Partecipazioni SpA.

“The expansion of the global Adipic Acid market is anticipated to be driven by the growing demand for Nylon 6,6 for manufacturing vehicle interior and exterior components by the forecast period of 2035. Properties of Nylon 6,6, such as its durability, combined with lightweight properties, which makes it popular material for manufacturing lightweight vehicle parts, as a replacement of metal parts, that can reduce the overall weight of the vehicles which is expected to further boost the demand for Adipic Acid globally in the forecast period. “Said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm promoting ChemAnalyst worldwide.

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  • Ganesh Kumar
    published this page in Submit Content 2023-03-31 04:02:50 -0700