Description
Adipic acid is an organic hydrocarbon whose biggest use is in the commercial production of nylon 6,6 or polyamide 66. This is one of the most important polyamide from industrial perspective because it possesses high mechanical strength, high quality, durability, high absorption capacity, rigidity, good stability under heat and high chemical resistance. Adipic acid is also used in the production of other chemicals, composite materials and industrial fibres.
To check the carbon emissions as per the Paris agreement, every government body is trying to regulate its carbon footprint. The only way left for the automobile industry to decrease the pollution while keeping the automobile as fuel efficient as possible is to make the vehicles lighter. Hence lightweight plastics are being used which are made from adipic acid and hence the market demand is surging forward.
End-user/Technology
Adipic acid is generally produced from the oxidation of cyclohexanol and cyclohexanone with nitric acid. It can also be produced from butadiene carbonylation. The major use of adipic acid is in the production of nylon 66 and other industrial fibres. It finds widespread use in many industries like the manufacture of polyurethanes, plasticizers, lubricants, food additives, pharmaceuticals and mainly automobile industry.
Market Dynamics
The rise in demand for adipic acid is mainly because of the rise in demand for fuel efficient vehicles. The adipic market is consolidated with the presence of few large scale and many small-scale vendors. To retain their market share, these vendors compete on factors such as innovation, quality, price and operational efficiency. Some other
factors driving the demand for the adipic acid market are: –
• Use of polyurethane in garments to household mouldings
• Increase in auto sales
• Demand for improvement in infrastructure
• High demand in consumer goods and appliances
However, the rise in the demand of hybrid fibres, volatility in benzene prices and stringent government regulations in some parts of the world is expected to restrain the adipic acid market.
Market Segmentation
Global adipic acid market is segmented either on the basis of application and analysis or on the basis of geography. On the basis of application and analysis, the market is further sub-segmented into: –
• Nylon 6,6 fibers
• Nylon 6,6 resins
• Adipic-adipate esters
• Polyurethanes
On the basis of geography, the market is further sub-segmented into: –
• USA
• Europe
• APAC
• Rest of the world
Regional/Geographic Analysis
The Asia-Pacific region dominates the current market with 45-55% of global capacity and production due to the growing demand for adipic acid in nylon 66 for different applications. The biggest markets are India and China which are expected to show double-digit CAGR in the future due to the increase in demand for automobiles. North America is also one of the largest markets for adipic acid but the growth forecasts are not very high. On the other hand, strict government regulations are restraining the growth of the adipic acid market in Europe.
Opportunities
R&D is a key part of this market. All the companies are investing heavily to produce better variants of bio-based adipic acid to stay ahead of the competition. Most industry players are trying to find more use of adipic acid in other industrial applications. Hence, the opportunities in the adipic acid market seems are really appealing and immense.
Key Players
Some of the key players in the market include Asahi Kasei, BASF, INVISTA, LANXESS and Solvay.
- Market segments
- Market Drivers, Restraints and Opportunities
- Market Size & Forecast 2016 to 2022
- Supply & Demand Value Chain
- Market – Current Trends
- Competition & Major Companies
- Technology and R&D Status
- Porters Five Force Analysis
- Strategic and Critical Success Factor Analysis of Key Players
- North America
- US and Canada
- Latin America
- Mexico, Brazil, Argentina and Rest of Latin America
- Western Europe
- EU5 (Germany, France, Italy, Spain, U.K.)
- Nordic Countries (Denmark, Finland, Norway, and Sweden)
- Benelux (Belgium, The Netherlands, and Luxembourg)
- Rest of Western Europe
- Eastern Europe
- Russia
- Poland
- Rest of Eastern Europe
- Asia Pacific
- China
- India
- Japan
- Australia and New Zealand
- Rest of Asia Pacific
- Middle East and Africa
- GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
- South Africa
- North Africa
- Rest of Middle East and Africa
This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides details on market segmentation which is derived from several product mapping exercises, macroeconomic parameters and other qualitative and quantitative insights. The impact of all such factors is delivered across multiple market segments and geographies.
- Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
- Consumer and Pricing Analysis
- Market dynamics of the industry
- Market Segmentation
- Estimated Market Sizing in terms of volume and value
- Recent trends in Market and impact
- Research Status and Technology Overview
- Extensive Industry Structure Coverage
