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

Adipic Acid Market

Adipic Acid Market

[PDF, Page 143] Adipic Acid Market, By Raw Material, By End Product, By Application, By End User, By Region - Trends, Analysis, Forecast till 2032.

Adipic acid market is poised for substantial growth in the coming years, driven by increasing demand for eco-friendly solutions and high-performance materials across a range of industries”
— Prophecy Market Insights
COVINA, CALIFORNIA , UNITED STATES, March 9, 2023 /EINPresswire.com/ -- Adipic acid is one of the most commercially important types of aliphatic dicarboxylic acids, since it is significantly used as a feedstock for the production of industrial fibers. It is generated from the oxidation of a mixture of cyclohexanol and cyclohexanone with nitric acid and alternatively can also be produced from butadiene carbonylation. The major consumption of adipic acid is as the feedstock for the production for nylon 6,6 resin and engineering fibers. The non-nylon applications of adipic acid include its usage in the manufacture of polyurethanes, plasticizers, food additives and pharmaceuticals. The Global Adipic Acid Market accounted for US$ 7.13 billion in 2020 and is estimated to be US$ 11.07 billion by 2030 and is anticipated to register a CAGR of 4.5%.

Key Highlights:

In March 2014, Rennovia Inc. and Johnson Matthey Davy Technologies Ltd. collaborated to develop and commercialize the production technology for bio-based adipic acid.
In December 2021, Ascend Performance Materials announced plans to purchase a compounding facility in San Jose Iturbide, Mexico, growing its global footprint and expanding production capacity for high-performance engineered materials.
In May 2022, Lanxess and Advent acquired the Engineering Materials business from DSM for purchase price of around EUR 3.7 Bn.

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Segmentation:

>The Adipic Acid market is segmented based on Raw material, End products, 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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Some of the prominent players operating in the Adipic Acid Market include

• Ascend Performance Materials Inc.
• BASF SE
• Verdezyne
• PetroChina Liaoyang Petrochemical
• Rennovia
• Sumitomo Chemical Co., Ltd
• Asahi Kasei Corporation
• Invista
• Lanxess Ag
• Rhodia

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