Market Size of Adipic Acid Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 3.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Adipic Acid Market Analysis
The adipic acid market is projected to register a CAGR of more than 3% during the forecast period. COVID-19 negatively impacted the market in 2020. However, the market is estimated to have reached pre-pandemic levels and is expected to grow steadily.
- The growing electronics market and increased use of personal care products are fueling the market growth.
- Stringent environmental regulations regarding production are expected to hinder the market's growth.
- The Asia-Pacific region is expected to dominate the market during the forecast period owing to its growing development in major countries such as India, China, and Japan.
Adipic Acid Industry Segmentation
Adipic acid is a white, crystalline compound primarily used to produce nylon 6,6. It also creates polyurethanes as a reactant to form plasticizers, lubricant components, and polyester polyols. The adipic acid market is segmented by raw material, end product, application, end-user industry, and geography. By raw material, the market is segmented into cyclohexanol and cyclohexanone. By end product, the market is segmented into nylon 66 fibers, nylon 66 engineering resins, polyurethanes, adipate esters, and other end products. By application, the market is segmented into plasticizers, unsaturated polyester resins, wet paper resins, coatings, synthetic lubricants, food additives, and other applications. By end-user industry, the market is segmented into automotive, electrical and electronics, textiles, food and beverage, personal care, pharmaceuticals, and other end-user industries. The report also covers the market size and forecasts for the market in 15 countries across the globe. For each segment, the market sizing and forecasts have been done based on volume (kilotons).
| By Raw Material | |
| Cyclohexanol | |
| Cyclohexanone |
| By End Product | |
| Nylon 66 Fibers | |
| Nylon 66 Engineering Resins | |
| Polyurethanes | |
| Adipate Esters | |
| Other End Products |
| By Application | |
| Plasticizers | |
| Unsaturated Polyester Resins | |
| Wet Paper Resins | |
| Coatings | |
| Synthetic Lubricants | |
| Food Additives | |
| Other Applications |
| By End-user Industry | |
| Automotive | |
| Electrical and Electronics | |
| Textiles | |
| Food and Beverage | |
| Personal Care | |
| Pharmaceuticals | |
| Other End-user Industries |
| Geography | ||||||||
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Adipic Acid Market Size Summary
The adipic acid market is poised for steady growth, driven by its critical role as a monomer in the production of polyamide 6.6 pellets and other polymers used in engineering plastics and polyurethane foams. This growth is largely fueled by the increasing demand for lightweight engineering plastics in the automotive industry, where nylon 66 is valued for its mechanical strength, temperature resistance, and lightweight properties. The shift towards more advanced plastic materials in vehicles aims to enhance fuel efficiency and meet stricter safety standards. The rising production of light and electric vehicles further amplifies the demand for adipic acid, as these vehicles require more engineering plastics to reduce weight and improve performance.
The Asia-Pacific region is expected to lead the adipic acid market, with significant contributions from the burgeoning automotive, electronics, and textiles industries in countries like China and India. China's extensive electronics production base and India's rapidly growing electronics sector, supported by favorable government policies, are key drivers of demand. Additionally, China's textile manufacturing capabilities and the country's increasing automotive production further bolster the market. The fragmented nature of the market sees major players like Asahi Kasei Corporation, BASF SE, and LANXESS actively participating, with recent developments such as the establishment of new production facilities and collaborations for sustainable production methods highlighting the industry's dynamic nature.
Adipic Acid Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Increasing Use of Nylon 66 in the Automotive Industry
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1.1.2 Rising Use in the Personal Care and Electronics Industry
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1.2 Restraints
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1.2.1 Stringent Environment Regulations Regarding Production Process
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1.2.2 Other Restraints
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1.3 Industry Value Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION (Market Size in Volume)
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2.1 By Raw Material
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2.1.1 Cyclohexanol
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2.1.2 Cyclohexanone
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2.2 By End Product
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2.2.1 Nylon 66 Fibers
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2.2.2 Nylon 66 Engineering Resins
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2.2.3 Polyurethanes
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2.2.4 Adipate Esters
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2.2.5 Other End Products
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2.3 By Application
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2.3.1 Plasticizers
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2.3.2 Unsaturated Polyester Resins
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2.3.3 Wet Paper Resins
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2.3.4 Coatings
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2.3.5 Synthetic Lubricants
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2.3.6 Food Additives
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2.3.7 Other Applications
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2.4 By End-user Industry
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2.4.1 Automotive
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2.4.2 Electrical and Electronics
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2.4.3 Textiles
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2.4.4 Food and Beverage
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2.4.5 Personal Care
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2.4.6 Pharmaceuticals
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2.4.7 Other End-user Industries
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2.5 Geography
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2.5.1 Asia-Pacific
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2.5.1.1 China
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2.5.1.2 India
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2.5.1.3 Japan
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2.5.1.4 South Korea
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2.5.1.5 Rest of Asia-Pacific
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2.5.2 North America
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2.5.2.1 United States
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2.5.2.2 Canada
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2.5.2.3 Mexico
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2.5.3 Europe
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2.5.3.1 Germany
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2.5.3.2 United Kingdom
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2.5.3.3 Italy
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2.5.3.4 France
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2.5.3.5 Russia
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2.5.3.6 Rest of Europe
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2.5.4 South America
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2.5.4.1 Brazil
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2.5.4.2 Argentina
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2.5.4.3 Rest of South America
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2.5.5 Middle East & Africa
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2.5.5.1 Saudi Arabia
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2.5.5.2 South Africa
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2.5.5.3 Rest of Middle East & Africa
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Adipic Acid Market Size FAQs
What is the current Adipic Acid Market size?
The Adipic Acid Market is projected to register a CAGR of greater than 3% during the forecast period (2024-2029)
Who are the key players in Adipic Acid Market?
Asahi Kasei Corporation, BASF SE, LANXESS, DOMO Chemicals and Sumitomo Chemical Co., Ltd. are the major companies operating in the Adipic Acid Market.
