Adipic Acid Market worth US$ 9.6 Billion 2029 with a CAGR of 4.3 %

Adipic Acid Market, a dicarboxylic acid with the molecular formula C6H10O4, stands as a vital chemical compound with diverse industrial applications. Primarily recognized for its role in the production of nylon, a widely used synthetic polymer, adipic acid serves as a key building block in the manufacturing of various materials and products. Its significance extends beyond the realm of polymers, finding applications in the production of polyurethane foams, plasticizers, and as an additive in food and beverages. Known for its versatility and the ability to confer desirable properties to a range of end-products, adipic acid plays a crucial role in shaping the modern landscape of materials and chemicals.

Report link:
https://www.prophecymarketinsights.com/market_insight/Global-Adipic-Acid-Market-By-459

Key Market Insights from the report:

The global adipic acid market accounted for US$ 6.5 billion in 2020 and is projected to register a moderate CAGR of 4.3 % over the forecast period. The market report has been segmented on the basis of raw material, end product, application, end-user, and region.

By raw material, the global adipic acid market is segmented into cyclohexanol and cyclohexanone.
By end product, the global adipic acid market is segmented into nylon 66 fibers, nylon 66 engineering resins, polyurethanes, adipate esters and others.
By application, the global adipic acid market is segmented into plasticizers, unsaturated polyester resins, wet paper resins, coatings, synthetic lubricants, food additives and others.
By end user, the global adipic acid market is segmented into textiles, food and beverage, cosmetics, paints and coatings, and others.
By region, the market of Asia Pacific account major revenue shares in global adipic acid market owing to growing demand from the automotive manufacturers attributed with the growing population in this region. North America is one of the major supply hubs for engineered polymers, therefore, making it a potential destination for adipic acid.

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The prominent player operating in the global adipic acid market includes Ascend Performance Materials Inc., BASF SE, Verdezyne, PetroChina Liaoyang Petrochemical, Rennovia, Sumitomo Chemical Co., Ltd, Asahi Kasei Corporation, Invista, Lanxess Ag and Rhodia.

Adipic Acid market trend:

Sustainable Production Methods:
There is a growing trend in the chemical industry towards adopting more sustainable and environmentally friendly production methods. Companies involved in adipic acid production may explore cleaner and more sustainable processes, considering factors such as reduced carbon emissions and efficient use of resources.

Focus on Bio-based Adipic Acid:
With an increased emphasis on bio-based and renewable chemicals, there is ongoing research and development in the production of adipic acid from bio-derived feedstocks. Bio-based adipic acid can offer a more sustainable alternative to traditional petroleum-based production methods.

Demand in Nylon Production:
Adipic acid is a key raw material in the production of nylon, particularly nylon 6,6. The demand for nylon is influenced by various industries, including textiles, automotive, and consumer goods. Trends in these industries, such as the increasing use of nylon in electric vehicles and lightweight materials, can impact the demand for adipic acid.

Polyurethane Foam Applications:
Adipic acid is used in the production of polyurethane foams, which find applications in insulation, furniture, and automotive components. Trends in construction, home furnishings, and automotive manufacturing can influence the demand for adipic acid in polyurethane foam production.

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This release was published on openPR.