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

Adipic Acid Market, By Raw Material (Cyclohexanol and Cyclohexanone), By End Product (Nylon 66 Fibers, Nylon 66 Engineering Resins, Polyurethanes, Adipate Esters and Others), By Application (Plasticizers, Unsaturated Polyester Resins, Wet Paper Resins, Coatings, Synthetic Lubricants, Food Additives and Others), By End User (Textiles, Food and Beverage, Cosmetics, Paints and Coatings, and Others), and By Region - Global Forecast to 2029" Global adipic acid market is projected to grow from US$ 6.5 billion in 2020 to US$ 9.6 billion by 2029. Global adipic acid market is driven by increasing demand for adipic acid in the automotive, construction, and electronics industries owing to it is lightweight and durable product.

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.

Key Market Insights from the report:          

The global adipic acid market accounted for US$ 6.5 billion in 2020 and is projected to register a moderate CAGR of 4.3 % over the forecast period. The market report has been segmented on the basis of raw material, end product, 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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The prominent player operating in the global adipic acid market includes Ascend Performance Materials Inc., BASF SE, Verdezyne, PetroChina Liaoyang Petrochemical, Rennovia, Sumitomo Chemical Co., Ltd, Asahi Kasei Corporation, Invista, Lanxess Ag and Rhodia.

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