Adipic Acid Market Insights and Forecast -2027

Adipic acid is an organic compound and is also known as hexanedioic acid. It is one of the significant monomer used across the polymer industry. Adipic acid is commercially manufactured by oxidizing the mixture of cyclohexanone and cyclohexanol also called ketone-alcohol oil (KA oil) with nitric acid. Adipic acid is the fundamental raw material required for the manufacture of nylon 66 and other polymeric fibers. It is extensively used in food &beverage and pharmaceutical industries. Further, it has huge demand in the production of polyurethanes and plasticizers.

Market scope and structure analysis:

COVID-19 scenario analysis:

• The outbreak of the COVID-19 pandemic has hit every aspect of the global market and the adipic acid market is no exception.
• Due to economic slowdown caused by the pandemic, the applications of nylon and nylon-based products, especially in the automobile industry, have decreased significantly. This resulted in reduction in demand for adipic acid in the market for the manufacture of nylon.
• The nationwide lockdowns and the restrictions in export-import activities have severely affected the supply chains and operations for the global adipic acid market.
• On the other hand, amidst the pandemic, the application of adipic acid in the pharmaceutical industry increased due to the high demand of drugs. This has caused a rise in demand for adipic acid in the market.

Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis

The rapid industrialization and the growing applications of artificial polymers in different aspects of the industries have led to the growth of the adipic acid market across the globe. A major portion of the total adipic acid produced worldwide is utilized for the production of nylon. Nylon is industrially manufactured by reacting adipic acid with hexamethylene diamine. Nylon 66, produced from adipic acid has a wide variety of applications in different industries such as electronics, textile, automobile and others, for its superior mechanical strength and for its electrical and thermal insulation. The increasing number of applications of nylon in the different industries is expected to boost the demand for adipic acid in near future. Today major companies are focusing on manufacturing superior quality, strong and durable fibers that can endure extreme conditions. Adipic acid is also used in the food and beverage industry as a flavoring agent and also as a gelling agent. Moreover, it is also incorporated in several drug tablets to maintain the controlled release of the acidic or basic drug compounds. However, the fluctuating prices of the raw materials and the stringent regulations on environmental impacts caused during the production of adipic acid, especially the emission of nitrous oxide might acts as restraining factors for the market. Nevertheless, the adoption of bio-adipic acid in several industries in order to minimize the harmful effects on the environment have played an important role in the growth of the global adipic acid market. The demand for bio-based polyurethane, produced from bio-adipic acid is gaining popularity in different industries such as electronics, automobile and construction, as an alternative to conventional polyurethane, which is harmful to the environment.

The market in the Asia-Pacific region holds a major share of the global adipic acid market with high consumption of adipic acid in the manufacture of composite materials and nylons, applied in industries such as textile, electronics and others in the emerging economies namely India and China. The market in the North America region is also expected to grow at a significant pace owing to high consumption of adipic acid in the food and beverage industry.

Key segments covered:

Key benefits of the report:

• This study presents the analytical depiction of the global adipic acid industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global adipic acid market share.
• The current market is quantitatively analyzed from 2020 to 2027 to highlight the global adipic acid market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed global adipic acid market analysis based on competitive intensity and how the competition will take shape in coming years. 

Questions answered in the Adipic Acid Market research report:

• What are the leading market players active in the adipic acid market?
• What the current trends will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities in the market?
• What are the projections for the future that would help in taking further strategic steps?

 Key Market Segments

 
Key Market Players

• Ascend Performance Materials
• Shandong Haili Chemical Industry Company Ltd.
• BASF SE
• INVISTA
• Radici Partecipazioni SpA
• Solvay
• Asahi Kasei Corporation
• Lanxess
• PetroChina Liaoyang Petrochemical
• Shandong Hongye Chemical Company Ltd.