Adipic Acid Market, Adipic Acid Market share, global Adipic Acid Market, Adipic Acid Market trends 2024, Adipic Acid Market analysis 2032

The research is a great blend of qualitative and quantitative data, covering significant market developments, industry and competitive issues, gap analysis, and new opportunities and trends in the Adipic Acid Market. The report's goal is to give cutting-edge market knowledge and assist decision makers in making smart investment decisions by presenting an overview of the Global Flooring Adhesives Market. Additionally, the research identifies and analyses upcoming trends, as well as important drivers, challenges, and opportunities.

The Adipic Acid Market is expected to promise high growth owing to the growth of the packaging and construction industries in recent years. Increasing demand from end-use industries automotive, pharmaceutical, packaging, construction, appliances, food & beverage, and others is expected to drive the growth of the market.

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

Key Factors Impacting Market Growth:

• The growth of packaging and construction industries
• Increasing demand from the automotive, electronics and manufacturing industries

Rapidly expanding global construction industry is also projected to drive the adipic acid demand in building components such as exterior panels, insulation materials, and housing electronics. Growing automotive and packaging industries are also contributing to market growth. Thus, rapidly expanding construction and automotive industries is estimated to drive market for adipic acid. Due to these factors, market for adipic acid is expected to have a lucrative growth during the forecast period

Recent Development:

• In March 2020, DOMO Chemicals announced plans to invest EUR12 million in new state-of-the-art nylon (which includes nylon 66) plant in Zhejiang.

• In January 2020, BASF closed the acquisition of Solvay's polyamide (PA 6.6) business. This acquisition would allow BASF to provide better engineering plastics solutions, e.g., for autonomous driving and e-mobility. The transaction also enhances the company's access to growth markets in Asia, as well as in North and South America. Through the backward integration into the key raw material adiponitrile (ADN), BASF will be present along the entire value chain for polyamide 6.6 and improve its supply reliability.

• In May 2021, Asahi Kasei had established a group-wide data management platform called "DEEP" (Data Exploration and Exchange Pipeline) to accelerate Digital Transformation (DX) throughout the Asahi Kasei Group, and started its operation in April 2022. DEEP has established to manage and explore data of all businesses of Asahi Kasei, and is expected to make further contribution to the enhancement of management and businesses.

• In December 2021, Ascend Performance Materials had announced plans to purchase a compounding facility in San Jose Iturbide, Mexico, growing its global footprint and expanding production capacity for high-performance engineered materials. The purchase agreement includes the assets of DM Color Mexicana, a joint venture between Dainichiseika and Mitsubishi Corp.

• In May 2022, Lanxess and Advent to acquire Engineering Materials business from DSM for a purchase price of around EUR 3.7 billion. Lanxess to transfer High Performance Materials business into joint venture. Lanxess to receive a payment of at least US$ 1.8 billion and a stake of up to 40 percent in the joint venture. Lanxess will use proceeds to reduce debt and plans to buy back shares. New joint venture with pioneering product portfolio and integrated value chain.

Key Players

Key players in the market are involved in gaining strategic advantages by expanding their operations and tapping into new regions.
Ercros S.A, BASF SE, Olin Corporation, PPG Industries, FMC Corporation, Hanwha Chemical Corporation, Occidental Petroleum Corporation, Ineos Group Ltd., Tata Chemicals Ltd., Tosoh Corporation, AkzoNobel, Occidental Petroleum Corporation, Hanwha Chemical Corporation, Ineos Group Ltd., and Formosa Plastics Corporation. These companies profiled represent the current scenarios of sales, revenue, R&D, development strategies etc.

Segments

Market segmentation research is conducted to assist a company in identifying market segments in order to establish various plans and approaches.
BASF SE, Asahi Kasei, Ascend Performance Materials , INVISTA, Lanxess AG, Rhodia, Petro China Company Limited, Liaoyang Petrochemical

Methodology

Market research fills the gap between a goods or services and its target market or client. Market research insights assist a manufacturer or service provider in developing a product or service plan that satisfies the specific needs of the target market.

Primary Market Research

Primary market research is a type of study that involves acquiring information from target industries, either through a third-party or directly from customers.

Quantitative Market Research

Quantitative market research is a method of gathering data from the target market and consumers that can be quantified.

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Qualitative Market Research

Qualitative market research is a means of gathering qualitative data from target markets via the use of instruments and procedures such as focus groups and interviews.

Secondary Market Research

Secondary market research is an investigative strategy in which a firm relies on publicly available data to learn more about its customers and target markets.

Regional analysis

Due to improvements in the supply side of the market, higher confidence on the demand side due to new federal and state-level policies is expected to propel the growth of the market in the Asia Pacific region.

Advanced technologies, increased renewable energy additions and growing investments will push the Gasoline Fuel Filters market in Japan.
However, the growth in China will be largely driven by the large investments in renewable energy and network integration activities. A high growth is anticipated in the market due to significant investments in modernization of infrastructure.

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The study of the market includes

• Explanation of consumer preferences, trends, opportunities, and factors impacting worldwide grid-scale power storage technologies, as well as an analysis of current industry trends.

• market share study by end-user, service, application, and region

• Investments in R&D and demonstration projects are covered, as well as a full overview of Flooring Adhesives Market.

• Assessment of regulatory trends and incentives, regional economic development rate, implementation timeline, and environmental constraints

Frequently Asked Questions

• What is the study period of this market?

• What is the growth rate of Adipic Acid Market?

• Which region has highest growth rate in Adipic Acid Market?

• Which region has largest share in Adipic Acid Market?
• Who are the key players in Adipic Acid Market?

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