[220+ Pages Latest Report] According to a market research study published by Custom Market Insights, the demand analysis of Global Adipic Acid Market size & share revenue was valued at approximately USD 5.01 Billion in 2023 and is expected to reach USD 5.05 Billion in 2024 and is expected to reach around USD 6.99 Billion by 2033, at a CAGR of 3.67% between 2024 and 2033. The key market players listed in the report with their sales, revenues and strategies are Invista, Ascend Performance Materials, BASF SE, Rennovia Inc., Radici Group, Solvay, Lanxess AG, Asahi Kasei Corporation, Rhodia (Solvay Group), Sumitomo Chemical Co. Ltd., Shandong Haili Chemical Industry Co. Ltd., China Petroleum & Chemical Corporation (Sinopec), Liaoyang Petrochemical Company, Hualu Hengsheng Chemical Co. Ltd., Genomatica Inc, and others.
Austin, TX, USA, Nov. 11, 2024 (GLOBE NEWSWIRE) — Custom Market Insights has published a new research report titled “Adipic Acid Market Size, Trends and Insights By Application (Polyurethane, Nylon 6,6 Fiber, Nylon 6,6 Resin, Adipate Esters, Others), By Raw Material (Cyclohexane, Phenol, Cyclohexanol, Cyclohexanone, Benzene), By End Users (Automotive, Electrical & Electronics, Packaging & Consumer Goods, Building & Construction, Textile, Others), and By Region – Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033” in its research database.
“According to the latest research study, the demand of global Adipic Acid Market size & share was valued at approximately USD 5.01 Billion in 2023 and is expected to reach USD 5.05 Billion in 2024 and is expected to reach a value of around USD 6.99 Billion by 2033, at a compound annual growth rate (CAGR) of about 3.67% during the forecast period 2024 to 2033.”
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Adipic Acid Market: Growth Factors and Dynamics
- Increasing Demand from Automotive Sector: Adipic acid is extensively used in the production of nylon 6,6, which is crucial for manufacturing automotive components such as airbags, hoses, and engine covers. The growth in the automotive industry, particularly in emerging economies, drives the demand for adipic acid.
- Rising Demand for Nylon Fibers: Adipic acid is a key raw material for producing nylon fibers, which are widely used in textiles, carpets, and industrial applications. The growing textile and consumer goods industries, especially in Asia-Pacific and Latin America, fuel the demand for nylon fibers and, consequently, adipic acid.
- Expansion of the Packaging Industry: Adipic acid is utilized in the production of various packaging materials, including films and coatings. The expanding packaging industry, driven by e-commerce growth and increasing consumer demand for packaged goods, boosts the demand for adipic acid.
- Growing Construction Sector: Adipic acid is employed in the production of polyurethane foams and coatings used in construction materials such as insulation panels and coatings. The growth in residential and commercial construction activities worldwide contributes to the demand for adipic acid-based products.
- Advancements in Textile Industry: The textile industry’s shift towards high-performance fibers and fabrics, where adipic acid is crucial for producing nylon 6,6 fibers, drives the market growth. Innovations in textiles, such as functional and smart textiles, further expand the application scope of adipic acid.
- Focus on Lightweight Materials in Automotive: Adipic acid’s role in producing lightweight and durable automotive components aligns with the automotive industry’s focus on reducing vehicle weight to improve fuel efficiency and meet regulatory standards. This trend supports the adoption of adipic acid in automotive applications.
- Increasing Focus on Sustainable Materials: Adipic acid manufacturers are emphasizing sustainability by developing bio-based and eco-friendly production processes. The growing consumer preference for sustainable products and regulatory initiatives promoting environmental conservation drive the market for adipic acid derived from renewable sources.
- Expansion of Industrial Applications: Adipic acid finds applications in various industrial sectors, including electronics, pharmaceuticals, and coatings. The diversification of industrial applications and the continuous innovation in product formulations contribute to the market growth of adipic acid globally.
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Adipic Acid Market: Merger and Acquisition
- In March 2022, Ascend Performance Materials agreed to purchase Formulated Polymers Limited’s compounding division, a prominent engineered materials manufacturer in Chennai, India. This move marks Ascend’s debut manufacturing facility in the region, enhancing its presence in global markets focused on electrical and e-mobility applications.
- In May 2022, Lanxess and Advent acquired DSM’s Engineering Materials business for approximately €3.7 billion. As part of the deal, Lanxess will contribute its High-Performance Materials business to the joint venture. Lanxess is set to receive a minimum payment of $1.8 billion and could hold up to a 40 percent stake in the joint venture. The proceeds from the transaction will primarily be used by Lanxess to reduce debt and initiate share buyback programs. The newly formed joint venture will boast a cutting-edge product portfolio and a fully integrated value chain.
Report Scope
| Feature of the Report | Details |
| Market Size in 2024 | USD 5.05 Billion |
| Projected Market Size in 2033 | USD 6.99 Billion |
| Market Size in 2023 | USD 5.01 Billion |
| CAGR Growth Rate | 3.67% CAGR |
| Base Year | 2023 |
| Forecast Period | 2024-2033 |
| Key Segment | By Application, Raw Material, End Users and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends |
| Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
| Buying Options | Request tailored purchasing options to fulfil your requirements for research. |
(A free sample of the Adipic Acid report is available upon request; please contact us for more information.)
Our Free Sample Report Consists of the following:
- Introduction, Overview, and in-depth industry analysis are all included in the 2024 updated report.
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- Provide detailed chapter-by-chapter guidance on the Request.
- Updated Regional Analysis with a Graphical Representation of Size, Share, and Trends for the Year 2024
- Includes Tables and figures have been updated.
- The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis
- Custom Market Insights (CMI) research methodology
(Please note that the sample of the Adipic Acid report has been modified to include the COVID-19 impact study prior to delivery.)
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Adipic Acid Market: COVID-19 Analysis
The COVID-19 pandemic has significantly impacted the Adipic Acid Market, with the industry experiencing both positive and negative effects. Here are some of the key impacts:
- Disruption in International Trade and Businesses: The ongoing COVID-19 pandemic has disrupted international trade and businesses, significantly affecting market dynamics. Governments imposed restrictions on the transit of people and goods, leading to disruptions in supply chains and manufacturing processes, impacting the production and distribution of adipic acid.
- Demand Fluctuations: The pandemic led to disruptions in various industries, including electronics, automotive, aerospace, and healthcare, which are major consumers of adipic acid. Lockdown measures, supply chain disruptions, and reduced consumer spending resulted in a slowdown in manufacturing activities across these sectors. Many ongoing projects were delayed or put on hold due to uncertainties surrounding the pandemic, leading to reduced demand for adipic acid.
- Regulatory Framework and Market Restraints: The regulatory framework surrounding the chemical industry may have been influenced by the pandemic, with potential changes in safety standards and regulations affecting market operations. Economic uncertainties resulting from the pandemic have posed challenges such as high costs, technical limitations, and a lack of skilled workforce, restraining market growth.
- Operational Challenges: Implementing health and safety protocols in manufacturing facilities added operational challenges and increased production costs. Labor shortages and workforce disruptions, including illness-related absences and quarantine measures, affected production capacities and efficiency in the adipic acid market.
- Adaptive Strategies and Focus on Innovation: Companies adopted remote work arrangements, digitalized sales and marketing efforts, and diversified supply chain sources to mitigate the pandemic’s impact. Some firms directed efforts towards innovating adipic acid applications, focusing on sustainability and environmental impact to address changing market demands.
- Technological Advancements: Ongoing advancements in production technologies, such as more efficient and sustainable manufacturing processes, are opening doors to new applications and expanding the market potential for adipic acid.
- Automation Push: The pandemic highlighted the importance of automation in manufacturing to minimize reliance on human labor. This could have led to a slight increase in demand for adipic acid in specific applications, such as automated production processes in sectors that remained operational.
In conclusion, the COVID-19 pandemic has had a mixed impact on the Adipic Acid Market, with some challenges and opportunities arising from the pandemic.
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Key questions answered in this report:
- What is the size of the Adipic Acid market and what is its expected growth rate?
- What are the primary driving factors that push the Adipic Acid market forward?
- What are the Adipic Acid Industry’s top companies?
- What are the different categories that the Adipic Acid Market caters to?
- What will be the fastest-growing segment or region?
- In the value chain, what role do essential players play?
- What is the procedure for getting a free copy of the Adipic Acid market sample report and company profiles?
Key Offerings:
- Market Share, Size & Forecast by Revenue | 2024−2033
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Leading Trends
- Market Segmentation – A detailed analysis by Types of Services, by End-User Services, and by regions
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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Adipic Acid Market – Regional Analysis
The Adipic Acid Market is segmented into various regions, including North America, Europe, Asia-Pacific, and LAMEA. Here is a brief overview of each region:
- North America: North America’s economic outlook remains robust, with steady growth driven by strong consumer spending and industrial activity. The region’s adipic acid market benefits from significant demand in the automotive, construction, and packaging sectors. Growth factors include advancements in automotive manufacturing, particularly with the rise of electric vehicles requiring lightweight materials, and increasing investments in sustainable construction practices. Additionally, North America’s focus on technological innovation and environmental regulations encourages the development of more efficient and eco-friendly production methods for adipic acid.
- Europe: Europe’s economic outlook is stable, with moderate growth supported by strong industrial and technological sectors. The adipic acid market in Europe is driven by stringent environmental regulations and a significant push towards sustainability. The region’s automotive industry, known for its focus on efficiency and innovation, heavily demands adipic acid for high-performance materials. Growth factors include advancements in green technologies, the expansion of the packaging industry focusing on recyclable materials, and ongoing investments in research and development for bio-based adipic acid production.
- Asia-Pacific: Asia-Pacific’s economic outlook is highly positive, with rapid industrialization and urbanization fueling growth. The adipic acid market in this region is driven by robust demand from the automotive, textile, and construction industries. Key growth factors include the expanding automotive sector, particularly in countries like China and India, where increasing vehicle production boosts demand for durable materials. Additionally, the region’s growing middle class and rising consumer spending on textiles and packaged goods further drive the market. Asia-Pacific is also witnessing significant investments in infrastructure projects, enhancing the demand for construction materials containing adipic acid.
- LAMEA (Latin America, Middle East, and Africa): LAMEA’s economic outlook shows promising growth potential, driven by increasing industrialization and infrastructure development. The adipic acid market in this region benefits from growing demand in the automotive, construction, and textile industries. Growth factors include large-scale infrastructure projects in the Middle East and Africa, which require advanced construction materials. In Latin America, the expanding automotive industry and rising consumer spending on textiles and packaged goods drive market growth. Additionally, the region’s focus on developing local manufacturing capabilities and reducing import dependency supports the increasing adoption of adipic acid.
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List of the prominent players in the Adipic Acid Market:
- Invista
- Ascend Performance Materials
- BASF SE
- Rennovia Inc.
- Radici Group
- Solvay
- Lanxess AG
- Asahi Kasei Corporation
- Rhodia (Solvay Group)
- Sumitomo Chemical Co. Ltd.
- Shandong Haili Chemical Industry Co. Ltd.
- China Petroleum & Chemical Corporation (Sinopec)
- Liaoyang Petrochemical Company
- Hualu Hengsheng Chemical Co. Ltd.
- Genomatica Inc.
- Others
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The Adipic Acid Market is segmented as follows:
By Application
- Polyurethane
- Nylon 6,6 Fiber
- Nylon 6,6 Resin
- Adipate Esters
- Others
By Raw Material
- Cyclohexane
- Phenol
- Cyclohexanol
- Cyclohexanone
- Benzene
By End Users
- Automotive
- Electrical & Electronics
- Packaging & Consumer Goods
- Building & Construction
- Textile
- Others
Click Here to Get a Free Sample Report of the Global Adipic Acid Market @ https://www.custommarketinsights.com/report/adipic-acid-market/
Regional Coverage:
North America
- U.S.
- Canada
- Mexico
- Rest of North America
Europe
- Germany
- France
- U.K.
- Russia
- Italy
- Spain
- Netherlands
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Taiwan
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America
This Adipic Acid Market Research/Analysis Report Contains Answers to the following Questions.
- Which Trends Are Causing These Developments?
- Who Are the Global Key Players in This Adipic Acid Market? What are Their Company Profile, Product Information, and Contact Information?
- What Was the Global Market Status of the Adipic Acid Market? What Was the Capacity, Production Value, Cost and PROFIT of the Adipic Acid Market?
- What Is the Current Market Status of the Adipic Acid Industry? What’s Market Competition in This Industry, Both Company and Country Wise? What’s Market Analysis of Adipic Acid Market by Considering Applications and Types?
- What Are Projections of the Global Adipic Acid Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about imports and exports?
- What Is Adipic Acid Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
- What Is the Economic Impact On Adipic Acid Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
- What Are Market Dynamics of Adipic Acid Market? What Are Challenges and Opportunities?
- What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for Adipic Acid Industry?
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Reasons to Purchase Adipic Acid Market Report
- Adipic Acid Market Report provides qualitative and quantitative analysis of the market based on segmentation involving economic and non-economic factors.
- Adipic Acid Market report outlines market value (USD) data for each segment and sub-segment.
- This report indicates the region and segment expected to witness the fastest growth and dominate the market.
- Adipic Acid Market Analysis by geography highlights the consumption of the product/service in the region and indicates the factors affecting the market within each region.
- The competitive landscape incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled.
- Extensive company profiles comprising company overview, company insights, product benchmarking, and SWOT analysis for the major market players.
- The Industry’s current and future market outlook concerning recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging and developed regions.
- Adipic Acid Market Includes in-depth market analysis from various perspectives through Porter’s five forces analysis and provides insight into the market through Value Chain.
Reasons for the Research Report
- The study provides a thorough overview of the global Adipic Acid market. Compare your performance to that of the market as a whole.
- Aim to maintain competitiveness while innovations from established key players fuel market growth.
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What does the report include?
- Drivers, restrictions, and opportunities are among the qualitative elements covered in the worldwide Adipic Acid market analysis.
- The competitive environment of current and potential participants in the Adipic Acid market is covered in the report, as well as those companies’ strategic product development ambitions.
- According to the component, application, and industry vertical, this study analyzes the market qualitatively and quantitatively. Additionally, the report offers comparable data for the important regions.
- For each segment mentioned above, actual market sizes and forecasts have been given.
Who should buy this report?
- Participants and stakeholders worldwide Adipic Acid market should find this report useful. The research will be useful to all market participants in the Adipic Acid industry.
- Managers in the Adipic Acid sector are interested in publishing up-to-date and projected data about the worldwide Adipic Acid market.
- Governmental agencies, regulatory bodies, decision-makers, and organizations want to invest in Adipic Acid products’ market trends.
- Market insights are sought for by analysts, researchers, educators, strategy managers, and government organizations to develop plans.
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