Adipic acid is a white crystalline powder that is widely used in the production of nylon fibers, plastics, and polyurethane. The global adipic acid market is expected to experience significant growth in the coming years due to increasing demand for nylon fibers from the automotive and textile industries.
Adipic Acid Market is likely to witness a healthy CAGR of 4.2% during the forecast period. The global adipic acid market, along with its end products, has registered direct growth in the previous few years. This growth is expected to surge in the upcoming years. The sturdiness, quality, lightweight properties, remarkable energy absorbing characteristics, an upward in the claim for durable polyamide 66, and the forthcoming safety protocols & innovative procedures for its usage will be the prime driving factors for the global market with the enhanced prominence on its different types and applications.
One of the major drivers of the adipic acid market is the rising demand for nylon fibers in the automotive industry. Nylon fibers are used in the production of airbags, carpets, and other interior components of automobiles. With the increasing demand for lightweight and fuel-efficient vehicles, the use of nylon fibers is expected to increase significantly in the coming years, which will drive the demand for adipic acid.
Request Sample: https://www.stratviewresearch.com/Request-Sample/550/adipic-acid-market.html#form
Key Players
Some of the major players in the adipic acid market are-
Asahi Kasei Corporation, Ascend Performance Materials Inc., BASF SE, Invista, Lanxess Aktiengesellschaft, Petrochina Liaoyang Petrochemical, Radici Group, Rhodia, Shandong Haili Chemical Industry Company, Ltd. (BOHUI), Shandong Hongye Chemical Company, Ltd.
Regional Analysis
In terms of regions, presently, the Asia-Pacific region is the largest consumer of adipic acid. China and Japan are the growth engines of the region with the largest share in the regional volumetric consumption of adipic acid in 2012. The market volume of the acid is relatively low in the European region and is expected to flourish with a low growth of 1.8% during the forecast period.
In conclusion, the adipic acid market is expected to experience significant growth in the coming years due to increasing demand for nylon fibers and polyurethane. The Asia Pacific region is expected to dominate the market due to the presence of major manufacturers and increasing demand from end-use industries.
Comments