Adipic Acid Market Size, Share, Growth | Report
Global Adipic Acid Market
GMI Research anticipates that the Global Adipic Acid Market to witness a significant Compound Annual Growth Rate over the forecast period (2019-2026).
The factors driving the growth of global adipic acid market includes rising adoption of adipic acid in the automotive industry. Approximately, 90% of adipic acid is used in the production of Nylon 66, is further processed for its application in automobile tire cord, carpeting and it is also used to manufacture lubricant component. The rapid expansion of construction industry along with growing demand for light-weight plastic engineering plastic are expected to increase the Adipic Acid Market size in the coming years.
However, the growth of Adipic Acid Market is restricted by strict environmental norms imposed by Governments across the world along with growing use of hybrid fibers in the market.
Some prominent players in the market are Asahi Kasei Corporation, Radici Group, Lanxess, Petrochina Liaoyang Petrochemical, Solvay and Shandong Haili Chemical Industry Company Ltd, BASF SE, Invista, Ascend Performance Materials Inc., Shandong Hongye Chemical Company Ltd. Among others.
Application: Segment Analysis
Based on application, Polyurethane (PU) is expected to emerge as the second fastest-growing segment over the forecast period due to high demand for innovative PU foams in end-use industries on account of low cost and high functionality.
Region: Segment Analysis
Based on region, Asia-Pacific region is anticipated to grow at the highest compound annual growth rate during the forecast period due to high demand for adipic acid in the automotive industry. The increasing investment in textile industry in countries such as China and India, along with growing support from Government, is increasing the growth of apidic acid in the region.
Market Segmentation
Global Adipic Acid Market by Material Type
- Fibers
- Engineering Plastics
Global Adipic Acid Market by Application
- Poyurethanes
- Polyamide/Nylon 66
- Adipic/Adipate Esters
- Others
Global Adipic Acid Market by Region
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- North America
- United States of America
- Canada
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
About GMI Research
GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.
Media Contact
Company Name: GMI RESEARCH
Contact Person: Sarah Nash
Email: enquiry@gmiresearch.com
Phone: Europe – +353 1 442 8820; US – +1 860 881 2270
Address: Dublin, Ireland
Website: www.gmiresearch.com
