Global Adipic Acid Market
Global Adipic Acid Market Report Description:
Global Adipic Acid market report gives comprehensive outlook on Adipic Acid across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and Middle East Africa. The report on global Adipic Acid market gives historical, current, and future market sizes (US$ Mn) on the basis of end product, application, end user, and regions. This report studies global Adipic Acid market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, global Adipic Acid market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global Adipic Acid market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product Opportunities). Key stakeholders of the global Adipic Acid market report include suppliers, manufacturers, marketers, policy makers, and healthcare service providers engaged in global Adipic Acid products.
Global Adipic Acid Market:
The global adipic acid market estimated to be valued US$ XX Mn in 2018 and poised to grow at significant CAGR over 2019-2025. Adipic acid is an ingredient generally used for the synthesis of polyurethanes, nylon, and other products of commercial interest. Nitric acid oxidation of a mixture of cyclohexanone and cyclohexanol termed “KA oil” (ketone and alcohol-oil) is used for the industrial production of adipic acid. Nylon 6,6, hexamethylene diamine adipic acid, is predominantly used nylons. It possess properties such as extending the shelf life of PVC end products considerably. It finds a major application in the waste management for polymers in food packaging industries. These factors upsurges the demand for adipic acid and thereby, drives the growth of market. However, fluctuations in the prices of raw materials hampers the market growth.
Increase in Demand from Automotive Industries
Increase in the demand from automotive industry is a key factor drive the growth of global adipic acid market over the forecast years. Majority of nylon-6,6 is synthesized from adipic acid. Polyurethanes and adipic acid esters, such as Di–2–Ethylhexyl Adipate (DOA) which are exploited as plasticizers for polyvinyl chloride (PVC) resins are the other major applications of adipic acids. Stringent environmental conditions like release of harmful fumes in the surrounding environment makes it necessary for the consumers to switch over to products with natural and safer attribute. Initiatives undertaken by government to curb harmful emission which can cause certain implications regarding health. These factors accelerates the growth of market.
PU is useful for the making of hardwearing shoe sole as it is lightweight, resistance to abrasion. In the footwear sector, trekking shoes & boots, sports is the significant use of PU. Moreover, it is considerably used in the production of formal, casual, and fashionable shoes which raises the demand for adipic acid in the market.
North America Accounts for Larger Market Revenue Share in Global Adipic Acid Market
North America is the largest market for adipidc acids. The growth in this region can be attributed the large supply of polymers in this region. Growing automobile industry fuels the market growth in North America. U.S. is the major contributor in this region with a considerable share of XX% in the market. Asia Pacific holds a significant position in the market. There is a rapid penetration of adipic acid in this region due to stumpy prices of promotions. Emerging economies like India, China is the largest manufacturers of adipic acid in this region, thereby contributing to the market growth.
Key player’s profiles in the global adipic acid market include:
- Asahi Kasei Corp
- Ascend Performance Materials
- China Shenma Group Co. Ltd.
- Command Chemical Corp
- Finetech Industry Ltd.
- Genomatica Inc
- Haihang Industry Co. Ltd
- Huafeng Group
- Itochu Chemical Frontier Corp
Key players in global adipic acid market enhance their product portfolio and consumer base by adopting striking market strategy like collaborations, acquisitions, technological innovations, among others. For instance, in 2017, December 3, 201- Asahi Kasei Homes Corp.Asahi Kasei Homes has completed its acquisition of Erickson Framing Operations LLC (Erickson) on November 30, 2018, US Eastern time, for an acquisition price
Key Findings of the Report:
- Global adipic acid market expanding at significant CAGR over 2019 to 2025 due to rising demand for light weight and durable products.
- Based on end product, nylon 66 segment accounted for larger market revenue share in 2018 and projected gain market revenue share over the forecast period.
- Players focusing on innovation of newer products and collaboration strategies to retain market position in global adipic acid market.
By End Product Type
- Nylon 66 Fibers
- Nilon 66 Engineering Resins
- Adipate Esters
By Application Type
- Unsaturated Polyester Resins
- Synthetic Lubricants
- Food Additives
- Wet Paper Resins
By End User Type
- Food and Beverage Industries
- Cosmetic Industries
- Textile Industries
- Paint and Coating Industries
- Rest of Europe
- Rest of Asia Pacific
- Rest of Latin America
Middle East and Africa
- South Africa
- Gulf Corporation Council Counties (GCC)
- Rest of MEA
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (2014-2018) and forecast (2019-2025)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market.