Adipic Acid Market
Adipic Acid Market Forecasts to 2030 - Global Analysis By Source (Synthetic and Biobased), Formulation (Solid and Liquid), Production Method, Distribution Channel, Application, End User and By Geography
|
Years Covered |
2022-2030 |
|
Estimated Year Value (2024) |
US $6.24 BN |
|
Projected Year Value (2030) |
US $9.35 BN |
|
CAGR (2024 - 2030) |
6.3% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
Asia Pacific |
|
Highest Growing Market |
North America |
According to Stratistics MRC, the Global Adipic Acid Market is accounted for $6.24 billion in 2024 and is expected to reach $9.35 billion by 2030 growing at a CAGR of 6.3% during the forecast period. Adipic acid is a dicarboxylic acid with the chemical formula C₆H₁₰₄O₄. It is a colourless, crystalline solid commonly used in the production of nylon, particularly nylon 66, through polycondensation with hexamethylenediamine. Its applications extend to the manufacture of plastics, elastomers, and coatings, making it a vital component in the chemical industry.
According to the Department of Health and Senior Services, Tokyo has developed the world’s first 100% bio-based adipic acid.
Market Dynamics:
Driver:
Growing demand for nylon
Nylon is widely used across various industries, including textiles, automotive, and consumer goods, due to its exceptional strength, durability, and lightweight properties. The rise in automotive production, where nylon is utilized for components like gears and interiors, drives further demand for adipic acid. Additionally, the textile industry's expanding focus on high-performance fabrics amplifies the need for nylon. Consequently, as nylon demand continues to increase, so does the requirement for adipic acid, fostering market growth.
Restraint:
Strict environmental regulations
Strict environmental regulations surrounding adipic acid production arise from concerns over greenhouse gas emissions, particularly nitrous oxide, a potent pollutant released during its synthesis. Compliance with these regulations often necessitates costly investments in cleaner technologies and processes, which can hinder production efficiency and increase operational costs for manufacturers. These financial burdens may lead to higher prices for adipic acid, reducing its competitiveness against alternative materials.
Opportunity:
Expansion in food industry
Adipic acid functions as an acidity regulator and flavouring agent, enhancing the taste and preservation of various food products. The rise in processed and convenience foods, coupled with a growing consumer preference for flavoured snacks and beverages, drives demand for adipic acid. Additionally, regulatory approvals for its safe use in food applications support its market growth. As food manufacturers seek to improve product quality and extend shelf life, the demand for adipic acid is expected to continue rising.
Threat:
Availability of alternative materials and chemicals
Bio-based polymers and other synthetic materials can often meet similar performance criteria, offering competitive advantages such as lower environmental impact or cost-effectiveness. As industries increasingly prioritize sustainability and innovation, the shift toward these alternatives may lead to reduced demand for adipic acid, especially in sectors like automotive and textiles. This growing preference for substitutes can stifle market expansion and limit the adoption of traditional adipic acid applications.
Covid-19 Impact
The covid-19 pandemic significantly impacted the adipic acid market by disrupting supply chains and reducing demand from key sectors like automotive and textiles. Factory closures and workforce shortages led to production delays, while economic uncertainty caused decreased consumer spending. However, the demand for packaging and medical supplies saw an uptick, partially offsetting losses. As economies recover and industries adapt to new norms, the market is gradually stabilizing, with potential growth driven by sustainability initiatives and increased production of bio-based adipic acid.
The lubricants segment is expected to be the largest during the forecast period
The lubricants segment is predicted to secure the largest market share throughout the forecast period. Adipic acid is increasingly utilized in the lubricants industry due to its ability to enhance performance characteristics. It serves as a building block for polyol esters, which are biodegradable and environmentally friendly alternatives to traditional lubricants. These polyol esters offer excellent thermal stability, low-temperature fluidity, and high viscosity index, making them ideal for automotive, industrial, and marine lubricants.
The automotive segment is expected to have the highest CAGR during the forecast period
The automotive segment is anticipated to witness the highest CAGR during the forecast period. Adipic acid plays a vital role in the automotive industry, primarily as a key ingredient in the production of nylon 66, which is used for various components such as gears, bearings, and structural parts. Its high strength, durability, and heat resistance make it ideal for lightweight applications that enhance fuel efficiency. With the automotive sector's shift toward sustainable materials, the demand for bio-based adipic acid is also increasing, promoting eco-friendly innovations.
Region with largest share:
Asia Pacific is expected to register the largest market share during the forecast period due to the rising demand for nylon and engineering plastics in various industries. Countries like China and India are major producers and consumers, bolstered by expanding manufacturing capabilities and infrastructure development. The region is also experiencing an increase in food and beverage applications, with adipic acid used as a food additive. Furthermore, growing sustainability initiatives are promoting the development of bio-based adipic acid, aligning with regional trends toward eco-friendly solutions and innovation in chemical production.
Region with highest CAGR:
North America is projected to witness the highest CAGR over the forecast period driven by the automotive and textile industries. The region's robust manufacturing base and technological advancements facilitate the growth of high-performance applications. Additionally, the food and beverage industry is contributing to market expansion, utilizing adipic acid as a food additive. Furthermore, increasing awareness of sustainability is spurring interest in bio-based adipic acid, promoting environmentally friendly production practices in the region.
Key players in the market
Some of the key players profiled in the Adipic Acid Market include BASF SE, DuPont, Ascend Performance Materials, Solvay S.A., Evonik Industries AG, Nouryon, Mitsubishi Chemical Corporation, Lanxess AG, Domo Chemicals, Radici Group, Zhejiang Jianye Chemical, Jiangshan Chemical, Hyundai Development Company, SABIC, Chemours Company and Rudolf GmbH.
Key Developments:
In October 2024, Rudolf GmbH launched a new product line of Adipic Acid-based additives designed to enhance the performance of rubber and plastic products. This innovative line specifically targets the automotive and construction sectors, emphasizing sustainability and increased product longevity. The introduction of these additives aligns with the industry's growing focus on environmentally friendly solutions, catering to manufacturers seeking improved materials for various applications.
In March 2023, BASF SE developed a new sustainable production method for adipic acid, a key component in various applications, including the production of nylon and plastics. This initiative is part of BASF's broader sustainability goals aimed at significantly reducing the environmental impact associated with traditional adipic acid production, which typically results in high greenhouse gas emissions.
Sources Covered:
• Synthetic
• Biobased
Formulations Covered:
• Solid
• Liquid
Production Methods Covered:
• Chemical Synthesis
• Biotechnological Processes
• Green Chemistry Methods
• Other Production Methods
Distribution Channels Covered:
• Direct Sales
• Distributors
• Online Sales
• Contract Manufacturers
• Other Distribution Channels
Applications Covered:
• Nylon Production
• Plasticizers
• Polyurethanes
• Lubricants
• Food Additives
• Other Applications
End Users Covered:
• Textiles
• Automotive
• Construction
• Electronics
• Packaging
• Pharmaceuticals
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Adipic Acid Market, By Source
5.1 Introduction
5.2 Synthetic
5.3 Biobased
6 Global Adipic Acid Market, By Formulation
6.1 Introduction
6.2 Solid
6.3 Liquid
7 Global Adipic Acid Market, By Production Method
7.1 Introduction
7.2 Chemical Synthesis
7.3 Biotechnological Processes
7.4 Green Chemistry Methods
7.5 Other Production Methods
8 Global Adipic Acid Market, By Distribution Channel
8.1 Introduction
8.2 Direct Sales
8.3 Distributors
8.4 Online Sales
8.5 Contract Manufacturers
8.6 Other Distribution Channels
9 Global Adipic Acid Market, By Application
9.1 Introduction
9.2 Nylon Production
9.3 Plasticizers
9.4 Polyurethanes
9.5 Lubricants
9.6 Food Additives
9.7 Other Applications
10 Global Adipic Acid Market, By End User
10.1 Introduction
10.2 Textiles
10.3 Automotive
10.4 Construction
10.5 Electronics
10.6 Packaging
10.7 Pharmaceuticals
10.8 Other End Users
11 Global Adipic Acid Market, By Geography
11.1 Introduction
11.2 North America
11.2.1 US
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 Italy
11.3.4 France
11.3.5 Spain
11.3.6 Rest of Europe
11.4 Asia Pacific
11.4.1 Japan
11.4.2 China
11.4.3 India
11.4.4 Australia
11.4.5 New Zealand
11.4.6 South Korea
11.4.7 Rest of Asia Pacific
11.5 South America
11.5.1 Argentina
11.5.2 Brazil
11.5.3 Chile
11.5.4 Rest of South America
11.6 Middle East & Africa
11.6.1 Saudi Arabia
11.6.2 UAE
11.6.3 Qatar
11.6.4 South Africa
11.6.5 Rest of Middle East & Africa
12 Key Developments
12.1 Agreements, Partnerships, Collaborations and Joint Ventures
12.2 Acquisitions & Mergers
12.3 New Product Launch
12.4 Expansions
12.5 Other Key Strategies
13 Company Profiling
13.1 BASF SE
13.2 DuPont
13.3 Ascend Performance Materials
13.4 Solvay S.A.
13.5 Evonik Industries AG
13.6 Nouryon
13.7 Mitsubishi Chemical Corporation
13.8 Lanxess AG
13.9 Domo Chemicals
13.10 Radici Group
13.11 Zhejiang Jianye Chemical
13.12 Jiangshan Chemical
13.13 Hyundai Development Company
13.14 SABIC
13.15 Chemours Company
13.16 Rudolf GmbH
List of Tables
1 Global Adipic Acid Market Outlook, By Region (2022-2030) ($MN)
2 Global Adipic Acid Market Outlook, By Source (2022-2030) ($MN)
3 Global Adipic Acid Market Outlook, By Synthetic (2022-2030) ($MN)
4 Global Adipic Acid Market Outlook, By Biobased (2022-2030) ($MN)
5 Global Adipic Acid Market Outlook, By Formulation (2022-2030) ($MN)
6 Global Adipic Acid Market Outlook, By Solid (2022-2030) ($MN)
7 Global Adipic Acid Market Outlook, By Liquid (2022-2030) ($MN)
8 Global Adipic Acid Market Outlook, By Production Method (2022-2030) ($MN)
9 Global Adipic Acid Market Outlook, By Chemical Synthesis (2022-2030) ($MN)
10 Global Adipic Acid Market Outlook, By Biotechnological Processes (2022-2030) ($MN)
11 Global Adipic Acid Market Outlook, By Green Chemistry Methods (2022-2030) ($MN)
12 Global Adipic Acid Market Outlook, By Other Production Methods (2022-2030) ($MN)
13 Global Adipic Acid Market Outlook, By Distribution Channel (2022-2030) ($MN)
14 Global Adipic Acid Market Outlook, By Direct Sales (2022-2030) ($MN)
15 Global Adipic Acid Market Outlook, By Distributors (2022-2030) ($MN)
16 Global Adipic Acid Market Outlook, By Online Sales (2022-2030) ($MN)
17 Global Adipic Acid Market Outlook, By Contract Manufacturers (2022-2030) ($MN)
18 Global Adipic Acid Market Outlook, By Other Distribution Channels (2022-2030) ($MN)
19 Global Adipic Acid Market Outlook, By Application (2022-2030) ($MN)
20 Global Adipic Acid Market Outlook, By Nylon Production (2022-2030) ($MN)
21 Global Adipic Acid Market Outlook, By Plasticizers (2022-2030) ($MN)
22 Global Adipic Acid Market Outlook, By Polyurethanes (2022-2030) ($MN)
23 Global Adipic Acid Market Outlook, By Lubricants (2022-2030) ($MN)
24 Global Adipic Acid Market Outlook, By Food Additives (2022-2030) ($MN)
25 Global Adipic Acid Market Outlook, By Other Applications (2022-2030) ($MN)
26 Global Adipic Acid Market Outlook, By End User (2022-2030) ($MN)
27 Global Adipic Acid Market Outlook, By Textiles (2022-2030) ($MN)
28 Global Adipic Acid Market Outlook, By Automotive (2022-2030) ($MN)
29 Global Adipic Acid Market Outlook, By Construction (2022-2030) ($MN)
30 Global Adipic Acid Market Outlook, By Electronics (2022-2030) ($MN)
31 Global Adipic Acid Market Outlook, By Packaging (2022-2030) ($MN)
32 Global Adipic Acid Market Outlook, By Pharmaceuticals (2022-2030) ($MN)
33 Global Adipic Acid Market Outlook, By Other End Users (2022-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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