Adipic Acid Market Share, Industry Research Report & Forecast, 2016 – 2024

Adipic Acid Market Overview

Adipic acid is an organic compound that is commercially known as dicarboxylic acid. It is a white crystalline powder that acts as an immediate precursor to production of nylon. Adipic acid is produced from cyclohexane and cyclohexanone, also known as ketone oil, which is then treated with nitric acid to convert it into adipic acid and also releases large volume of nitrous oxide. Adipic acid is widely used in end-use industries such as textile, food, paints & coatings, automotive, electronics, and cosmetics. According to the U.S. Environmental Protection Agency, around 84% of adipic acid is produced in the U.S. for production of nylon 66, 9% is used in production of polyester polyols, 4% is used in the production of plasticizers, and remaining 4% is accounted by other applications. Also, U.S. and Europe together contribute for more than 70% of adipic acid production. Significant demand for dibasic, chemically resilient, and strong & durable fiber properties have initiated a strong demand of adipic acid in wide range of applications.

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Global Adipic Acid Taxonomy

The global adipic acid market is classified on the basis of the following segments:

Type
Nylon 66 polymer
Nylon 66 fiber
Nylon 66 engineering resin
Polyurethane
Adipic esters
Others
By raw material
Cyclohexagonal
Cyclohexagone
By end-use industry
Plasticizer
Textile
Food
Cosmetics
Paints & coatings
Others

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Prevalent Scenario in Adipic Acid Market

Adipic acid finds major application in production of nylon, which is also known as polyamide 66. According to Process Economic Program Report, the market for adipic acid in 2012 was 2.3 million tons. China is one the major producing country for adipic acid and the demand for adipic acid in the country is estimated to witness steady growth for polyurethane and polyamide applications. Increasing environmental concerns related to use and manufacturing of synthetic adipic acid has resulted in increase in R&D to innovate and manufacture bio-based adipic acid products. Start-up companies such as Rennovia, Inc, (U.S.), BioAmber, Inc. (U.S.), Celexion, LLC (U.S.), Genomatica (U.S.) are aiming to manufacture bio-based adipic acid to be used for production of bio-based nylon. Adipic acid finds applications in production of polymers, coatings, plasticizers, and detergents in chemical sectors. Due to wide applications of polyurethane for thermal insulation, the growth of polyurethane segment is estimated to witness the fastest growth in adipic acid market. The increased demand for polyamide 66 in automobile sector is fueling growth of automobile segment in the adipic acid market. The growth of food additive segment in the food industry has resulted in increase in use of adipic acid as flavouring & gelling agent. Environmental and health concerns related to use and manufacture of adipic acid has resulted in stringent regulations imposed on the use of adipic acid for consumer applications. The manufacturing of adipic acid is regulated by EU regulations (EC) 1970/2006 (REACH). Asia-Pacific region account for the major market share due to emerging economies such as China, India, and Japan coupled with high growth industries which include automotive, electronics, and footwear. Stringent regulations and rising environmental concerns result into stagnant growth of adipic acid industry in Europe and North America.

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Fragmented Market

The global adipic acid market is highly fragmented due to the participation of many established and emerging players in the adipic acid market. Major players involved in the market include Asahi Kasei Corporation (Japan), Ascend Performance Materials Inc. (U.S.), BASF SE (Germany), Invista (U.S.), Lanxess Ag (Germany), PetroChina Liaoyang Petrochemical (China), Radici Group (Italy), Rhodia (France), Shandong Haili Chemical Industry Company Ltd. (China), and Shandong Hongye Chemical Company, Ltd. (China), and others.

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This release was published on openPR.