Adipic Acid Market Size Huge Growth Opportunity between 2020-2028 | BASF SE, Asahi Kasei, Ascend Performance Materials , INVISTA

Adipic Acid Market to grow exponentially at a CAGR of XX % by 2028

A recent report published by QMI on Adipic Acid market is a detailed assessment of the most important market dynamics. After carrying out a thorough research about the adipic acid market historical as well as current growth parameters, business expectations for growth are obtained with utmost precision. The study identifies specific and important factors affecting the market for adipic acid during the forecast period. It can enable manufacturers of adipic acid to change their production and marketing strategies in order to envisage maximum growth.

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Understanding the chemistry and uses of Adipic acid-

Adipic acid market is projected to register high growth during the forecast period, due to increasing demand in the automotive, manufacturing, and electronics industries for lightweight and durable goods. It is also anticipated that a rapidly expanding global construction industry will boost product demand in building components such as exterior panels, insulation materials, and housing electronics.

Strict environmental regulations regarding the manufacturing process are likely to hinder the growth of the industry. A rising awareness of the bio-based adipic acid is further boosting the growth of the market during the forecast period.

Adipic acid is the chemical compound that is most commonly used. This is a type of a carboxylic acid, which is aliphatic in nature. Some of the key characteristics of products made from adipic acid include toughness, solid fiber and chemical resistance. It allows for its widespread use in the nylon production industry.

Segmentation for better understanding of this market and its growth prospects:

Adipic acid market has been segmented based on, application (adipate ester, polyurethane, nylon 66 resin, nylon 66 fiber), end-use industry (automotive, pharmaceutical, packaging, construction, appliances, food & beverage, and others) and region.

By application, nylon 66 resin and nylon 66 fiber both are projected as the largest application segment of adipic acid market. Increasing demand for long-lasting applications such as automobiles, textiles, carpets, tire cod and technical fibers is likely to drive the market for adipic acid during the forecast period.

Polyurethane (PU) is likely to emerge as the second fastest growing product of the adipic acid market over the forecast period. Because of their longevity, flexibility, low cost and high functionality, there is a high demand for advanced PU (rigid and flexible) foams in several end-use industries.

Some of the key Impact Factors:
o The growth of packaging and construction industries
o Increasing demand from the automotive, electronics and manufacturing industries
o Regional segmentation and analysis to understand growth patterns:

Based on region, the adipic acid market has been segmented by North America, Western Europe, Eastern Europe, Asia Pacific, Middle East, & Rest of the World.

During the forecast period, the Asia Pacific is projected to experience significant growth in the adipic acid market. This demand is for the growth of major end-use industries including automobile, pharmaceutical, packaging, building, appliances, food & beverage, and others. Major Asia-Pacific countries include China, South Korea, Japan, India and Australia.

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Some of the major markets in North America and Western Europe are also typical suppliers of chemicals such as specialty chemicals, bulk chemicals, and so on. Major North American and Western European firms are headquartered in this region. This region has undergone a variety of transformations from end-use industries in terms of production of chemicals and their respective applications. Some of the major economies in these regions include the US, Germany, UK, France, Canada, Italy, Spain, and so on.

Companies Covered: BASF SE, Asahi Kasei, Ascend Performance Materials , INVISTA, Lanxess AG, Rhodia, Petro China Company Limited, Liaoyang Petrochemical

Market Segmentation:
By Application:
o Adipate Ester
o Polyurethane
o Nylon 66 Resin
o Nylon 66 fiber

By End-Use Industry:
o Automotive
o Pharmaceutical
o Packaging
o Construction
o Appliances
o Food & Beverage
o Others

By Region:
o North America
o By Country (US, Canada, Mexico)
o By Application
o By End-Use Industry

o Western Europe
o By Country (Germany, UK, France, Italy, Spain, Rest of Western Europe)
o By Application
o By End-Use Industry

o Eastern Europe
o By Country (Russia, Turkey, Rest of Eastern Europe)
o By Application
o By End-Use Industry

o Asia Pacific
o By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
o By Application
o By End-Use Industry

o Middle East
o By Country (UAE, Saudi Arabia, Qatar, Iran, Rest of Middle East)
o By Application
o By End-Use Industry

o Rest of the World
o By Region (South America, Africa)
o By Application
o By End-Use Industry

Contact:
Quince Market Insights
Ajay D. (Knowledge Partner)
Office No- A109
Pune, Maharashtra 411028
Phone: +91 - 9850603687 / 7972869557
Email: sales@quincemarketinsights.com
Web: www.quincemarketinsights.com

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This release was published on openPR.