Adipic Acid Market Future Challenges, SWOT Analysis, Expert Review, and Industry Growth Outlook 2030
The adipic acid market is profiled in great detail in the latest research report from Market Research Future (MRFR), providing readers with a comprehensive overview of the market through its historical growth trajectory, present conditions, and future growth prospects over the forecast period from 2017 to 2023. The historical stats of the adipic acid market are detailed in the report, in order to provide readers with a complete overview of the market’s historical growth trajectory. The historical stats provided in the report also give analysts a solid platform to base future projections about the market. Based on this platform, future projections for the adipic acid market’s growth trajectory over the forecast period are provided in the report. The leading players in the global adipic acid market are also profiled in the report in order to give readers a comprehensive analysis of the leading players in the global adipic acid market. The major drivers and restraints affecting the global adipic acid market are also profiled in the report to provide readers a comprehensive overview of what’s making the market tick and what is holding the market back.
Adipic acid is a
crystalline organic acid containing six carbon atoms and two carboxylate
groups. It is widely used in the production of nylon 6,6. The increasing demand
for nylon 6,6 fibers in the production of packaging products is likely to be a
major driver for the global Adipic
Acid Market over the forecast period. The growing packaging industry is
likely to be a major driver for the global adipic acid market due to the
growing demand for water-resistant plastic products in the packaging industry.
Nylon 6,6 fibers are also used in electrical and electronics applications, the
construction industry, as well as the automotive industry. This is likely to be
a major driver for the adipic acid market over the forecast period.
The increasing
demand for biodegradable biobased plastics is also likely to be a major driver
for the global adipic acid market over the forecast period.
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Competitive Leaderboard:
Leading players
in the global adipic acid market include Shandong Hongye Chemical Company Ltd.,
BioAmber Inc., Sumitomo Chemical Co. Ltd., Solvay SA, Radici Partecipazioni
SpA, Lanxess, BASF SE, Ascend Performance Materials, Asahi Kasei Corporation,
PetroChina Company Ltd., and INVISTA.
Segmentation:
The global adipic
acid market is segmented on the basis of application, end use, and region.
By application,
the global adipic acid market is segmented into polyurethane, nylon 6,6 fiber,
nylon 6,6 resin, adipate esters, and others. The nylon 6,6 fiber segment holds
a dominant 62% share in the global adipic acid market and is likely to remain
the major part of the global adipic acid market over the forecast period. The
widespread applicability of nylon 6,6 fibers in the packaging, electronics, and
automotive industries is likely to be a major driver for the global adipic acid
market over the forecast period. The polyurethane segment also holds an
important share in the global adipic acid market. The growing demand for
polyurethane in the packaging industry is likely to be a major driver for the
global adipic acid market over the forecast period. The increasing demand for
biobased polyurethane is likely to be a major driver for the adipic acid
market.
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By end use, the
global adipic acid market is segmented into automotive, electrical and
electronics, packaging and consumer goods, building and construction, textiles,
and others. The automotive industry is likely to remain a major end-use
consumer of adipic acid due to the growing use of plastic components in automotive
design. The packaging industry is also likely to remain a major end user in the
global adipic acid market over the forecast period.
Regional Analysis:
Asia Pacific
held the largest share in the global adipic acid market in 2016. The growing
urbanization in the region has led to a growing demand for plastics and nylon
in the region, which is likely to remain the major driver for the regional
market for adipic acid.
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