Global Adipic Acid Market Analysis By Top Key Companies Asahi Kasei Corporation, Ascend Performance Materials, BASF SE, Invista, Lanxess , PetroChina Liaoyang

Adipic acid or hexanedioic acid are organic compounds with molecular formula (CH2)4(COOH)2. Adipic acids are commercially formed by the reaction between cyclohexanone and cyclohexanol. High purity adipic acids are used in the manufacture of polyurethane. These are widely used in home furnishing applications such as bedding foam, furniture, and carpet underlays. These are widely used in cushioning materials to make furniture more comfortable and durable.

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Increasing applications of adipic acid in various end-use industries, namely paints & coatings, automobiles, textiles, industrial appliances, consumer goods, electrical & electronics, wires & cables and food & packaging industry is expected to boost growth of the adipic acid market during the forecast period (2017-2025).

Burgeoning population growth in turn results in increasing infrastructure development activities, especially in countries such as India, China, and Brazil. This subsequently fuels demand for paints & coatings and wires & cables. Changing life style and increasing disposable income is surging the demand for convenience food, which in turn is propelling demand for nylon 6,6 resin in food packaging industry.

Regional Insights

Europe, followed by Asia Pacific and North America, respectively, accounted for major share in the global adipic acid market both in terms of revenue and volume in 2016 and the trend is estimated to remain the same over the forecast period. In 2016, Asia Pacific held a share of 25.3% in terms of volume, followed by Europe (37.8%).

Multinational players need to shift towards environment friendly and green technology

Major players in the global Adipic Acid market include Asahi Kasei Corporation, Ascend Performance Materials Inc., BASF SE, Invista, Lanxess Ag, PetroChina Liaoyang Petrochemical, Radici Group, Rhodia, Shandong Haili Chemical Industry Company Ltd., and Shandong Hongye Chemical Company, Ltd., Rennovia Inc.

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This release was published on openPR.