Constantly and rapidly growing end-use industries including automotive, textile, and electrical & electronics industry, among others, and increasing consumption of adipic acid in these industries are key factors driving market revenue growth.
Market Size - USD 6,654.4 Million in 2020, Market Growth - CAGR of 4.3%, Market Trends - Growing inclination of end use industries for bio-based adipic acid produced from vegetable oils and renewable oils.
The global adipic acid market size is expected to reach USD 9,337.1 Million in 2028, and register a CAGR of 4.3% during the forecast period. Growing demand for adipic acid in the medical industry as it assists in controlling release of drug/ compound over a period of time is among the major factors driving revenue growth of the global adipic acid market. Controlling release of drugs aids patients to avoid taking drugs in every short-time intervals.
In the food & beverage industry, adipic acid is used as main acid agent in the bottled drinks to impart bubbly fizz and to give tartness to fruit juices. Organic adipic acid is used in various powdered food and drink mixes to add sweet flavor. In addition, adipic acid enables gelatin, jams, and jellies to jiggle while holding the shape. This acid is also used to add texture to certain types of cheese and acts as a leavening agent in cake mixes, baking powder, and baked goods. Edible oil producers use adipic acid to prolong the time taken for oils to turn into rancid. These are other major factors expected to drive growth of the global adipic acid market.
Some Key Findings From the Report:
For the purpose of this report, the global adipic acid market is segmented on the basis of raw material, application, industry vertical, and region:
Raw Material Outlook (Revenue, USD Million; 2018 - 2028)
Application Outlook (Revenue, USD Million; 2018 - 2028)
Industry Vertical Outlook (Revenue, USD Million; 2018 - 2028)
Region Outlook (Revenue, USD Million; 2018 - 2028)
Reasons to Buy the Report
Market Size - USD 6,654.4 Million in 2020, Market Growth - CAGR of 4.3%, Market Trends - Growing inclination of end use industries for bio-based adipic acid produced from vegetable oils and renewable oils.
The global adipic acid market size is expected to reach USD 9,337.1 Million in 2028, and register a CAGR of 4.3% during the forecast period. Growing demand for adipic acid in the medical industry as it assists in controlling release of drug/ compound over a period of time is among the major factors driving revenue growth of the global adipic acid market. Controlling release of drugs aids patients to avoid taking drugs in every short-time intervals.
In the food & beverage industry, adipic acid is used as main acid agent in the bottled drinks to impart bubbly fizz and to give tartness to fruit juices. Organic adipic acid is used in various powdered food and drink mixes to add sweet flavor. In addition, adipic acid enables gelatin, jams, and jellies to jiggle while holding the shape. This acid is also used to add texture to certain types of cheese and acts as a leavening agent in cake mixes, baking powder, and baked goods. Edible oil producers use adipic acid to prolong the time taken for oils to turn into rancid. These are other major factors expected to drive growth of the global adipic acid market.
Some Key Findings From the Report:
- Among the application segments, the nylon 66 fibers & engineering resins segment accounted for the largest revenue share of 63.4% in 2020.
- In 2020, the Asia Pacific market accounted for major revenue share in the global adipic acid market, valued at USD 3,859.6 Million, and is expected to continue with its dominance over the forecast period. This can be attributed to presence of large number of chemical companies in countries in the region, and high demand for adipic acid globally.
- Key players profiled in the report include Asahi Kasei Corporation, Ascend Performance Materials, Invista, BASF SE, Petro China Company Limited, Radici, Lanxess AG, Rhodia, Sumitomo Chemical Co. Ltd., and Dow Chemical Company. The market players have adopted various strategies including mergers, acquisitions, partnerships, and new product developments, among other strategies, to stay ahead of the competition and expand market footprint.
For the purpose of this report, the global adipic acid market is segmented on the basis of raw material, application, industry vertical, and region:
Raw Material Outlook (Revenue, USD Million; 2018 - 2028)
- Cyclohexane
- Cyclohexanol/Cyclohexanone (KA oil)
- Others
Application Outlook (Revenue, USD Million; 2018 - 2028)
- Nylon 66 Fibers & Engineering Resins
- Polyurethanes
- Adipate Esters
- Others
Industry Vertical Outlook (Revenue, USD Million; 2018 - 2028)
- Automotive
- Electrical & Electronics
- Food & Beverages
- Textile
- Cosmetics
- Medical
- Others
Region Outlook (Revenue, USD Million; 2018 - 2028)
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Benelux
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East and Africa
- Saudi Arabia
- UAE
- South Africa
- Rest of Middle East & Africa
Reasons to Buy the Report
- A robust analysis and estimation of the Adipic Acid Market with four levels of quality check - in-house database, expert interviews, governmental regulation, and a forecast specifically done through time series analysis
- A holistic competitive landscape of the all the major players in the Adipic Acid Market. The report covers their market shares, strategic initiatives, new product launches, R&D expenditure, M&As, Joint ventures, expansionary plans, product wise metric space analysis and key developments
- Go-to-market strategies specifically formulated in line with location analysis which takes into the factors such as government regulations, supplier mapping, supply chain obstacles, and feedback from local vendors
- Most deep dive segmental bifurcation available currently in the market. Our stellar methodology helps us understand the overall gamut of the supply chain and will help you explain the current market dynamics
- Special focus given on vendor landscape, supplier portfolio, customer mapping, production capacity, and yearly capacity utilization
Table of Contents
Chapter 1. Market Synopsis
Chapter 2. Executive Summary
Chapter 4. Adipic Acid Segmentation & Impact Analysis
Chapter 5. Adipic Acid Market By Raw Materials Insights & Trends
Chapter 6. Adipic Acid Market By Application Insights & Trends
Chapter 7. Adipic Acid Market By Industry Verticals Insights & Trends
Chapter 8. Adipic Acid Market Regional Outlook
Chapter 9. Competitive Landscape
Chapter 10. Company Profiles
Companies Mentioned
- Asahi Kasei Corporation
- Ascend Performance Materials
- Invista
- BASF SE
- Petro China Company Limited
- Radici
- Lanxess AG
- Rhodia
- Sumitomo Chemical Co. Ltd.
- Dow Chemical Company
