Global Adipic Acid Market Size, Share, Growth Analysis, By Application(Polyurethane, nylon 6), By End Use Industry(Automotive, electrical & electronics), By Raw Material(Cyclohexanol, Cyclohexanone) - Industry Forecast 2022-2028

Global Adipic Acid Market size was valued at USD 5.83 billion in 2021 and is anticipated to reach USD 8.18 billion by 2028, at a CAGR of 4.95% over the forecast period (2022-2028).

The market for adipic acid, a dicarboxylic acid largely utilised as a precursor to nylon 6,6 synthesis, is referred to as the global adipic acid market. In addition, adipic acid is used to make a number of other goods, including polyurethane foams, adipic esters, and synthetic lubricants.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Adipic Acid Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Segments covered in this report

Global Adipic Acid Market is segmented based on application, end-use industry, raw material, and region. By application, the market is segmented into polyurethane, nylon 6,6 fiber, nylon 6,6 resin, abdicate esters, and others. By end-use industry, the market is segmented into automotive, electrical & electronics, packaging & consumer products, building construction, textile, and others. By raw material, the market is segmented into Cyclohexanol, Cyclohexanone. By region, the market is segmented into Asia-Pacific, North America, South America, Europe, and Middle East & Africa

Driver

The growing demand for nylon 6,6 in various end-use industries such as automotive, textile, and packaging is a key driver of the adipic acid market. Adipic acid is a major raw material for the production of nylon 6,6, which is widely used for its strength, durability, and heat resistance. In addition, the increasing demand for polyurethane foams in the construction and furniture industries, as well as the growing popularity of adipic esters as plasticizers in the food packaging industry, are also driving market growth.

Restraint

The availability of alternative raw materials, such as bio-based and renewable sources, and the environmental concerns associated with the production of adipic acid can be a major restraint for market growth. In addition, the volatility of raw material prices and the strict regulations on the production and use of adipic acid in some regions can also be a challenge for market players.

Market Trends

The adipic acid market is the increasing adoption of bio-based and renewable sources of adipic acid, such as vegetable oils and glucose. This trend is driven by the need to reduce the environmental impact of the production process and to meet the growing demand for sustainable materials. Another trend is the development of new production technologies, such as the use of catalysts and the integration of renewable energy sources, to improve the efficiency and reduce the carbon footprint of the production process. Additionally, the increasing use of adipic acid in the production of synthetic lubricants and the development of new applications, such as in the production of biodegradable plastics, are expected to drive innovation and create new opportunities in the future.