Adipic Acid Market : Quantitative Market Analysis, Current And Future Trends, 2018 – 2023
The global market volume for adipic acid should grow from nearly 3,920.6 kilotons in 2018 to 4,535.9 kilotons by 2023 with a compound annual growth rate (CAGR) of 3.0% for the period of 2018-2023.
Report Scope:
The scope of the report covers the overview of the global market for adipic acid and analyses of global market trends, with data from 2016, a base year of 2017 and estimates for 2018 and 2023, with projections of CAGR in the forecast duration. Sales values are presented in U.S. dollars, while volumes are presented in kilotons units. Estimated values used are based on manufacturers’ total revenues. Projected and forecasted revenue values are in constant U.S. dollars, unadjusted for inflation.
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The report discusses technological and economic trends affecting the market. Further, it explains the major drivers and regional dynamics of the adipic acid market and current trends within the industry.
This report categorizes the global adipic acid market based on type, intermediate application, end-use application and region. Based on type, the adipic acid market is divided into synthetic and bio-based. Based on intermediate applications, the adipic acid market is divided into polyamide 6/6; polyurethanes; adipate esters and others (includes food additive, lubricants, fillers, paper additives, polyester molding agents and other chemical intermediates). Based on end-use application, the market is divided into automotive; electrical and electronics; shoe soles; sporting goods; synthetic leather; packaging films and coatings; food and beverage/pharmaceuticals; and others (includes bristles, surgical sutures, strings for acoustic and classical musical instruments, ropes, ribbons, women’s stockings and furniture). On the basis of region, the market is divided into North America, Asia-Pacific, Europe, South America, and the Middle East and Africa.
The report concludes with a special focus on the vendor landscape and includes profiles of major market players operating in the global adipic acid market.
Report Includes:
– 78 data tables and 25 additional tables
– Country specific data and analysis for U.S., Canada, Mexico, Germany, Italy, France, China, India, Japan, Brazil, Argentina, Saudi Arabia and UAE
– Complete understanding of Polyamide 66 and its application in the automotive industry
– Detailed description of synthetic and bio-based adipic acids and their manufacturing process
– Insights of government regulations affecting adipic acid industry
– Profiles of major companies in the industry, including Arkema, Evonik, Lanxess, Sumitomo Chemical Co. Ltd., Koninklijke DSM N.V., Mitsui Chemicals Inc and The Dow Chemical Co.
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Summary
Adipic acid is a white crystalline, mildly toxic compound with carbon isomeric bonds. This C6 straightchain dicarboxylic acid is slightly soluble in water and completely soluble in alcohol and acetone. This acid is used primarily as a precursor to produce polyamide. It is also used to give some imitation food products a pungent flavor and in the fabrication of some low-temperature synthetic lubricants, synthetic fibers, coatings, plastics, polyurethane resins and plasticizers. It has a tart taste and is used as a gelling agent and additive in jello or gelatins. It is insoluble in water. It is the most important dicarboxylic acid and is mainly used as a precursor to produce polyamide 6/6.
Adipic acid is used in many end-use applications such as automotive; electrical and electronics; synthetic leather; shoe soles; sporting goods; packaging films and coatings; food and beverage/pharmaceuticals; and others (others include food additive, fillers, cosmetics, lubricants, paper additives, polyester molding agents and other chemical intermediates). By region, the market is divided into Asia-Pacific, North America, Europe, South America, and the Middle East and Africa. The report covers market drivers, restraints, opportunities and challenges that determine the scope of the market and trends.
The adipic acid market has grown significantly during the past few years and is expected to grow at a more rapid pace in the next five years. The market has continued to expand, and new technological developments and industry changes have also taken place. Demand is expected to increase due to high demand from a broad range of end-use applications such as automotive; electrical and electronics; shoe soles; sporting goods; synthetic leather; packaging films and coatings; and food and beverage/pharmaceuticals across the globe. The demand for adipic acid is growing mainly due to growing automotive and electrical/ electronic applications. The adipic acid market is expected to witness significant growth in the coming five years. Also, growing demand for durable polyamide 6/6 and recyclable bio-based adipic acid would drive the demand of adipic acid. However, fluctuating raw materials prices used in adipic acid may hamper market growth during the forecast period.
Sales of adipic acid products are projected to continue growing at a healthy rate during the next five years, driven by increasing demand from engine covers, air-intake manifolds, armrests, cushions, mirror brackets and radiator end tanks in the automotive sector; connectors, relays, switches, plugs, coil bobbins, and buttons and knobs in the electrical and electronics sector; midsoles, boots, cleats, plates and leather shoes for the shoe soles sector; and bags, sofas, gloves and door panels for the synthetic leather sector.
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