What Has Been the Progress and Growth of the Adipic Acid Market in Recent Years?
The adipic acid market has seen considerable growth due to a variety of factors.
• The adipic acid market is expected to increase from $7.11 billion in 2024 to $7.56 billion in 2025, at a CAGR of 6.3%.
The growth is attributed to demand for nylon, the rise of synthetic fibers, the impact of world wars on synthetic materials, globalization and trade, and increased use in electronics and consumer goods.
What Can Be Expected from the Adipic Acid Market By 2029?
The adipic acid market is expected to maintain its strong growth trajectory in upcoming years.
• The adipic acid market is expected to grow to $9.54 billion by 2029, with a CAGR of 6.0%.
Growth is driven by the textile industry, consumer preferences, infrastructure development, and automotive fuel efficiency standards. Key trends include biotechnological production, sustainable feedstocks, carbon capture integration, decarbonization efforts, and advanced analytical tools.
Which Key Drivers Are Propelling The Adipic Acid Market's Growth?
The growing automobile industry is expected to propel the adipic acid market. The automobile industry is increasing due to the demand for personal mobility, urbanization, and economic growth. Adipic acid enhances the performance and safety of automotive materials and components. For instance, the Society of Motor Manufacturers and Traders reported that the number of vehicles on UK roads reached 41.4 million in 2023, a 1.6% increase from the previous year. The growing automobile industry will support the growth of the adipic acid market.
How Is The Adipic Acid Market segmented?
The adipic acid market covered in this report is segmented –
1) By Raw Material: Cyclohexanol, Cyclohexanone
2) By Sales Channel: Direct Sale, Indirect Sale
3) By Application: Nylon 6, 6 Fiber, Nylon 6, 6 Resin, Polyurethanes, Adipate Esters
4) By End Use Industry: Automotive, Electrical And Electronics, Packaging And Consumer Products, Building And Construction, Textile, Other End-Use Industries
Subsegments:
1) By Cyclohexanol: Hydrogenation Of Cyclohexene, Cyclohexanol-Based Processes For Adipic Acid Production, Catalytic Hydrogenation Of Cyclohexanol, Production Of High-Purity Cyclohexanol For Adipic Acid Synthesis
2) By Cyclohexanone: Oxidation Of Cyclohexane To Cyclohexanone, Cyclohexanone-Based Caprolactam Process For Adipic Acid Production, Use Of Cyclohexanone As A Precursor In The Production Of Adipic Acid
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What New Trends Are Influencing The Adipic Acid Market?
Companies in the adipic acid market are focusing on developing eco-friendly products like bio-based nylon 66 to gain a competitive advantage. Bio-based nylon 66 is produced using sustainable methods and includes recycled materials. For example, in August 2022, Toray Industries introduced 100% bio-based adipic acid for nylon 66 production. This product, derived from sugars in inedible biomass, reduces carbon emissions and environmental impact while maintaining the high performance required for industrial applications.
Who Are the Key Players In The Adipic Acid Market?
Major companies operating in the adipic acid market are:
• PetroChina Company Limited
• Invista
• BASF SE
• Sumitomo Chemical Company Limited
• Asahi Kasei Corporation
• Evonik Industries AG
• Du Pont de Nemours Inc.
• LANXESS AG
• Huntsman Corporation
• Solvay Société Anonyme
• UBE Corporation
• Ascend Performance Materials Operations LLC
• Shenan Shenma Nylon Chemical Co. Ltd.
• Radici Partecipazioni SpA
• Fibrant BV
• DOMO Chemicals GmbH
• Finoric LLC
• Alfa Chemical Co. Ltd.
• Wego Chemical Group Inc.
• Graham Chemical Corporation
• KeenBolden LLC
• Otto Chemie Pvt. Ltd.
• Tangshan Zhonghao Chemical Co. Ltd.
• BioAmber Inc.
What Is The Most Dominant Region In The Adipic Acid Market?
Asia-Pacific was the largest region in the adipic acid market in 2023. The regions covered in the adipic acid market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
