Global Adipic Acid Market Size Worth USD 9.22 Billion By 2033 | CAGR of 4.27%
Category: Chemicals & MaterialsGlobal Adipic Acid Market Size Worth USD 9.22 Billion By 2033
According to a research report published by Spherical Insights & Consulting, the Global Adipic Acid Market Size is Expected to Grow from USD 6.07 Billion in 2023 to USD 9.22 Billion by 2033, at a CAGR of 4.27% during the forecast period 2023-2033.
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Browse key industry insights spread across 210 pages with 115 Market data tables and figures & charts from the report on the" Global Adipic Acid Market Size, Share, and COVID-19 Impact Analysis, By Raw Material (Cyclohexane, Phenol, Cyclohexanol, Cyclohexanone, and Benzene), By Application (Polyurethane, Nylon 6,6 Fiber, Nylon 6,6 Resin, Adipate Esters, and Others), By End-Use (Automotive, Electrical & Electronics, Packaging & Consumer Goods, Building & Construction, Textile, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033. " Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/adipic-acid-market
The adipic acid market is the global trade, production, and sale of adipic acid, a chemical compound used to make nylon, polyurethanes, and other industrial products. Polyester polyols for polyurethane systems, plasticizers, and lubricant components are all made from adipic acid in industries such as construction, automotive, and medical. Further, they are also employed in the food sector as well as in the manufacturing of textile treatment agents, fungicides, insecticides, dyes, and pharmaceuticals. The rising need for energy-efficient buildings, comfortable automobile interiors, and durable consumer goods leads to the demand for polyurethane, thereby offering lucrative market growth opportunities for adipic acid. The growing adoption of nylon 6,6 across multiple industries such as automotive, textile, carpet industry, electrical & electronic components, industrial machinery, and consumer goods is propelling the adipic acid market demand. On the contrary, the increasing environmental concerns about greenhouse gas emissions, especially nitrous oxide in adipic acid manufacturing are limiting the market growth.
The cyclohexane segment held the largest revenue share in 2023 and is expected to grow at a significant CAGR during the forecast period.
Based on the raw material, the adipic acid market is classified into cyclohexane, phenol, cyclohexanol, cyclohexanone, and benzene. Among these, the cyclohexane segment held the largest revenue share in 2023 and is expected to grow at a significant CAGR during the forecast period. Adipic acid is commercially manufactured from cyclohexane through the oxidation process. The quick industrialization and growth of the automotive and textile industries, which use cyclohexane and adipic acid extensively is driving the market in the cyclohexane segment.
The nylon 6,6 fiber segment accounted for the largest revenue share in 2023 and is expected to grow at a significant CAGR during the forecast period.
Based on the application, the adipic acid market is classified into polyurethane, nylon 6,6 fiber, nylon 6,6 resin, adipate esters, and others. Among these, the nylon 6,6 fiber segment accounted for the largest revenue share in 2023 and is expected to grow at a significant CAGR during the forecast period. The global need for adipic acid is being driven by the growing use of nylon 6,6 fiber to create lightweight, durable plastic utilized in the quickly growing automotive, electrical, and electronics industries.
The electrical & electronics segment holds the largest market share in 2023 and is anticipated to grow at a significant CAGR during the forecast period.
Based on the end-use, the adipic acid market is classified into automotive, electrical & electronics, packaging & consumer goods, building & construction, textile, and others. Among these, the electrical & electronics segment holds the largest market share in 2023 and is anticipated to grow at a significant CAGR during the forecast period. Adipic acid finds suitable use in the electrical and electronics industry in circuit breakers, connectors, computer motherboards, power tool housings, and electronic device terminal blocks.
Asia Pacific is estimated to hold the largest share of the adipic acid market over the forecast period.
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Asia Pacific is estimated to hold the largest share of the adipic acid market over the forecast period. The growing automotive, textile, and construction industries along with the rapid urbanization in China and India are contributing to propelling the adipic acid market. The rising usage of adipic acid-derived nylon materials in clothing, sportswear, hosiery, and fashion accessories in the region is driving the market growth.
Europe is predicted to grow at the fastest CAGR in the adipic acid market over the forecast period. The increasing use of electronic devices like smartphones, computers, and televisions with the growing digitalization is contributing to driving the market for adipic acid. Additionally, the implementation of stringent regulations for reducing the environmental impact of carbon emissions and promoting recycling is contributing to propelling the adipic acid market.
Major key players in the global adipic acid market include BASF SE, Arkema SA, Kemira, Solvay S.A., Altana AG, Clariant AG, Dow Inc., Lanxess AG, RUDOLF GmbH, Lubrizol, Evonik Industries AG, Uniqchem, Croda International, and Others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Recent Developments
- In August 2022, Toray Industries, Inc., announced that it has developed the world’s first 100% bio-based adipic acid, a raw material for nylon 66 (polyamide 66), from sugars derived from inedible biomass.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the adipic acid market based on the below-mentioned segments:
Global Adipic Acid Market, By Raw Material
- Cyclohexane
- Phenol
- Cyclohexanol
- Cyclohexanone
- Benzene
Global Adipic Acid Market, By Application
- Polyurethane
- Nylon 6,6 Fiber
- Nylon 6,6 Resin
- Adipate Esters
- Others
Global Adipic Acid Market, By End-Use
- Automotive
- Electrical & Electronics
- Packaging & Consumer Goods
- Building & Construction
- Textile
- Others
Global Adipic Acid Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
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Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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