Global Adipic Acid Market 2022-2028

Global Adipic Acid Market Size, Share & Trends Analysis Report by End-Product (Nylon 66 Fibers, Nylon 6, Polyurethanes, Adipate Esters, and Others), and by End-User (Automotive, Electrical and Electronics, Textiles, Food & Beverage, Personal Care, Pharmaceuticals and, and Others) Forecast Period (2022-2028)

The global adipic acid market is anticipated to grow at a substantial CAGR of 3.0% during the forecast period. The demand for adipic acid is increased due to an increase in the demand for automotive airbags which indirectly fuels the market. Several competitors are utilizing nylon 66 to manufacture airbags to make their products innovative as per market demand. For instance, in November 2019, Autoliv introduced a new front-center airbag that will protect the front seat passengers in side-impact crash situations and also from sustaining injuries to the chest and head.

The global adipic acid market is segmented based on the application and end-user. Based on the application, the market is segmented into nylon 66 fibers, nylon 66 engineering resins, polyurethanes, adipate esters, and others. Based on the end-user, the market is sub-segmented into automotive, electrical and electronics, textiles, food & beverage, personal care, pharmaceuticals, and others. The above-mentioned segments can be customized as per the requirements. Among these, the textile segment is expected to be the fastest-growing segment during the forecast period due to the development of recycling technologies in the textile.

Geographically market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. The Asia-Pacific region is expected to hold a prominent share in the global adipic acid market as countries in Asia-Pacific including India, Japan, and China have rising demand for adipic acid. The varied industries where the utilization of adipic acid is soaring include consumer electronics, the automobile sector, and the food industry among others. The Asia-Pacific region is adopting a lot of strategic initiatives for the market and is a prime region in terms of consumption as well. Manufacturers of adipic acid are taking advantage of the market's cheap and ample raw material

The major companies serving the global adipic acid market include Asahi Kasei Corp., Ascend Performance Materials LLC, BASF SE, Invista, Sumitomo Chemical Co., Ltd, LANXESS AG, and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers & acquisitions, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in March 2020, DOMO Chemicals announced plans for a new state-of-the-art plant in Zhejiang, China. The new plant will be capable of producing 50,000 tons of sustainable and innovative engineered nylon compounds each year. The company signed a new factory project through a “cloud contract” with PingHuDuShan port Economic Development District. DOMO Chemicals will invest EUR12 million in the new plant. The company plans to install multiple production lines at the first stage of development, which would offer an estimated capacity of 25,000 tons/year.

Research Methodology

The market study of the global adipic acid market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market into various segments, and derive the total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, research papers, and news blogs.
• Company websites and their product catalog.

The report provides an in-depth analysis of the market size, and intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.

Market Segmentation

1. Global Adipic Acid Market Research and Analysis by Application
2. Global Adipic Acid Market Research and Analysis by End-User

The Report Covers

• Comprehensive research methodology of the global adipic acid market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the global adipic acid market.
• Insights about market determinants that are stimulating the global adipic acid market.
• Detailed and extensive market segments with the regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.