Global Adipic Acid Market Size By Application (Plasticizers, Food Additives), By End User Industry (Textiles, Automotive), By Geographic Scope And Forecast

Adipic Acid Market Size And Forecast

Adipic Acid Market size was valued at USD 7.86 Billion in 2021 and is projected to reach USD 11.68 Billion by 2030, growing at a CAGR of 4.50% from 2023 to 2030.

The Adipic Acid Market is predicted to grow in the forecast years owing to factors such as rising demands from the automotive industry coupled with increasing infrastructure in developing countries. Growing demands for consumer goods further drive demands in the electronics and appliances industry thereby expanding the Adipic Acid Market growth. The Global Adipic Acid Market report provides a holistic evaluation of the market. The report provides an in-depth analysis of the segments, market-related trends, market drivers, restraints, and opportunities along with the competitive landscape.

Global Adipic Acid Market Definition

Adipic acid is also referred to as hexanedioic acid. It is a white crystalline in nature that melts at 152°C. It is an important monomer used in the polymer industry. Adipic acid is an organic acid family that comprises six carbon atoms. It contains two carboxylate groups (–COOH) attached to the terminal carbons in the chain. Adipic Acid is a dicarboxylic acid prepared from different fats by oxidation.

Commercially, adipic acid is manufactured from cyclohexane. It is partially soluble in alcohol, water, and acetone. Adipic acid is widely used as a monomer for the production of nylon. Adipic acid is used to produce plasticizers and lubricant components. It also finds usage in food additives such as – gelling agents, buffering agents, and acidulants. In the pharmaceutical industry, the compound is combined with the drugs for the controlled release of drugs in the human body.

Global Adipic Acid Market Overview

The need for adipic acid is skyrocketing in industries like electronics, cars, everyday items, and home appliances. This demand is a major reason for the growth of the global adipic acid market. Another factor driving the market is the rush of research and development in textile manufacturing. Companies are working hard to create strong, top-notch fibers that are lightweight, can soak up a lot of liquid, and can stand up to tough conditions like extreme heat and harsh chemicals. The adipic acid market has been growing quickly and is expected to keep growing, which will help the global adipic acid market as a whole.

There are certain constraints and barriers faced that will limit the overall market growth. The factors such as the presence of stringent environmental regulations in different regions and the rise of hybrid fibers are limiting the market growth. Nevertheless, the improvements in technologies, application in medicines for the controlled release of drugs in the body, and untapped potential in emerging markets offer promising growth opportunities.

Global Adipic Acid MarketSegmentation Analysis

The Global Adipic Acid Market is Segmented on the basis of Application, End User Industry, And Geography.

Adipic Acid Market, By Application

• Plasticizers
• Food Additives
• Unsaturated Polyester Resins
• Synthetic Lubricants
• Others

Based on Application, the market is bifurcated into Plasticizers, Food Additives, Unsaturated Polyester Resins, Synthetic Lubricants, and Others. The Nylon 6,6 fibers segment holds the largest market share during the forecast period. The factors that can be attributed to the growing demand for nylon 6,6 fibers in the automotive industry coupled with the growing population in emerging economies such as China, and India are fueling the demand for this segment.

Adipic Acid Market, By End User Industry

• Textiles
• Automotive
• Food and Beverages
• Pharmaceutical
• Others

Based on End User Industry, the market is bifurcated into Textiles, Automotive, Food and Beverages, Pharmaceutical, and Others. The pharmaceuticals segment holds the largest market during the forecast period. Adipic acid is incorporated into drug tablets to help with the controlled release of both acidic and basic drug compounds.

Adipic Acid Market, By Geography

• North America
• Europe
• Asia Pacific
• Rest of the World

On the basis of Regional Analysis, the Global Adipic Acid Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. North America holds the largest market share. The increasing automobile industry in this region, significant potential for adipic acid manufacturers, and ongoing projects will boost the market in the North American region.

Key Players

The “Global Adipic Acid Market” study report will provide valuable insight with an emphasis on the global market including some of the major players such as BASF SE, LANXESS, Asahi Kasei Corporation, Radici Group, PetroChina Company Limited, INVISTA.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

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Market Exploration and Intelligence Let's dive into the market's ins and outs! We'll break it down into segments based on factors like income and consumer behavior. For each segment, we'll estimate its worth and predict which ones will grow fastest and dominate the scene. Regional Trends and Insights We'll explore how the market is performing in different parts of the world. We'll identify the regions with the highest consumption and analyze the forces shaping the industry in each location. Industry Players and Strategies We'll map out the major players and their market standings. We'll also track their moves, such as product launches, partnerships, and acquisitions, over the past five years. Company Profiles in Focus We'll give you detailed insights into the key market players. We'll cover their history, vision, product offerings, and strengths and weaknesses. Industry OutlookPresent and Future We'll look at the market's current state and project its trajectory. We'll highlight growth drivers and challenges, both in established and emerging markets. Porter's Five Forces Analysis We'll employ Porter's Five Forces analysis to understand the competitive forces shaping the market. This will help us assess the industry's attractiveness and potential for profitability. Value Chain and Market Dynamics We'll examine the market's value chain and explore opportunities for growth and innovation. We'll also analyze the factors driving and restraining market expansion. Dedicated Post-Sales Support Our analysts will be on hand for six months after the report is delivered to answer any questions and provide additional insights.

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