Adipic Acid Market – Growth, Trends, and Forecast (2020 - 2025)

The market is segmented by Raw Material (Cyclohexanol and Cyclohexanone), End Product (Nylon 66 Fibers, Nylon 66 Engineering Resins, Polyurethanes, Adipate Esters, and Other End Products), Application (Plasticizers, Unsaturated Polyester Resins, Wet Paper Resins, Coatings, Synthetic Lubricants, Food Additives, and Other Applications), End-user Industry (Automotive, Electrical and Electronics, Textiles, Food and Beverages, Personal Care, Pharmaceutical, and Other End-user Industries), and Geography (Asia-Pacific, North America, Europe, South America, and Middle East & Africa)

Market Snapshot

Study Period:

2016-2024

Base Year:

2019

Fastest Growing Market:

Asia Pacific

Largest Market:

Asia Pacific

CAGR:

3 %

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Market Overview

The market for adipic acid is expected to expand at a CAGR of more than 3% during the forecast period. Major factors driving the market studied include the growing electronics market in China and Japan, rising use in the personal care and pharmaceutical industry, etc.

  • Stringent environment regulations regarding the production process are expected to hinder the growth of the market studied.
  • Rising awareness of bio-based adipic acid is likely to act as an opportunity in the forecast period.
  • Asia-Pacific dominated the market across the globe with the largest consumption from countries such as China, Japan, etc.

Scope of the Report

The adipic acid market report includes:

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 Beverages
Personal Care
Pharmaceutical
Other End-user Industries
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Rest of North America
Europe
Germany
United Kingdom
Italy
France
Russia
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

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Key Market Trends

Increasing Demand from the Electrical and Electronics Industry

  • Nylon 66, which is manufactured from adipic acid, is used primarily for it's superior mechanical, temperature resistant and electric insulating properties in the electrical and electronics industry.
  • According to Japan Electronics and Information Technology Industries Association (JEITA), the global electronics industry is expected to grow more than 4% in 2019, driven by the demand for IT solution services and consumer electronics.
  • Historically, the electronics industry has seen competition between the United States and Japan, but most countries of the world are now rapidly accelerating their electronics manufacturing and electronics consumer bases like China and South Korea.
  • The above-mentioned factors are expected to contribute to the growth of the adipic acid market in the electrical & electronics segment, during the forecast period.

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China to Dominate the Market in the Asia-Pacific Region

  • Globally, China has the largest defense spending in the world, after the United States. The country is planning to boost its military spending with the aim to further advance its armed forces.
  • Furthermore, Electronic products, such as smartphones, OLED TVs, tablets, etc., have the highest growth in the market in the consumer electronics segment. The demand for electronic products is projected to grow in the near future, thereby driving the adipic acid market.
  • The textile industry in China is also booming with increasing investments and government support from the 13th Five-year Plan.
  • Hence, with growth in the electrical & electronics, aerospace & defense, and textile sectors in the country, the demand for adipic acid is expected to increase in the upcoming years

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Competitive Landscape

The adipic acid market is fragmented. The major companies include Asahi Kasei Corporation, BASF SE, LANXESS, DowDuPont, and Solvay, among others. 

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Table Of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Increasing Use of Nylon 66 in the Automotive Industry

      2. 4.1.2 Growing Electronics Market in China and Japan

      3. 4.1.3 Rising Use in Personal Care and Pharmaceutical Industry

    2. 4.2 Restraints

      1. 4.2.1 Stringent Environment Regulations Regarding Production Process

      2. 4.2.2 Other Restraints

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

    5. 4.5 Technological Snapshot

      1. 4.5.1 Production Process

      2. 4.5.2 Technology Licensing and Patent Analysis

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Raw Material

      1. 5.1.1 Cyclohexanol

      2. 5.1.2 Cyclohexanone

    2. 5.2 By End Product

      1. 5.2.1 Nylon 66 Fibers

      2. 5.2.2 Nylon 66 Engineering Resins

      3. 5.2.3 Polyurethanes

      4. 5.2.4 Adipate Esters

      5. 5.2.5 Other End Products

    3. 5.3 By Application

      1. 5.3.1 Plasticizers

      2. 5.3.2 Unsaturated Polyester Resins

      3. 5.3.3 Wet Paper Resins

      4. 5.3.4 Coatings

      5. 5.3.5 Synthetic Lubricants

      6. 5.3.6 Food Additives

      7. 5.3.7 Other Applications

    4. 5.4 By End-user Industry

      1. 5.4.1 Automotive

      2. 5.4.2 Electrical and Electronics

      3. 5.4.3 Textiles

      4. 5.4.4 Food and Beverages

      5. 5.4.5 Personal Care

      6. 5.4.6 Pharmaceutical

      7. 5.4.7 Other End-user Industries

    5. 5.5 Geography

      1. 5.5.1 Asia-Pacific

        1. 5.5.1.1 China

        2. 5.5.1.2 India

        3. 5.5.1.3 Japan

        4. 5.5.1.4 South Korea

        5. 5.5.1.5 Rest of Asia-Pacific

      2. 5.5.2 North America

        1. 5.5.2.1 United States

        2. 5.5.2.2 Canada

        3. 5.5.2.3 Mexico

        4. 5.5.2.4 Rest of North America

      3. 5.5.3 Europe

        1. 5.5.3.1 Germany

        2. 5.5.3.2 United Kingdom

        3. 5.5.3.3 Italy

        4. 5.5.3.4 France

        5. 5.5.3.5 Russia

        6. 5.5.3.6 Rest of Europe

      4. 5.5.4 South America

        1. 5.5.4.1 Brazil

        2. 5.5.4.2 Argentina

        3. 5.5.4.3 Rest of South America

      5. 5.5.5 Middle East & Africa

        1. 5.5.5.1 Saudi Arabia

        2. 5.5.5.2 South Africa

        3. 5.5.5.3 Rest of Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Asahi Kasei Corporation

      2. 6.4.2 Ascend Performance Materials

      3. 6.4.3 BASF SE

      4. 6.4.4 Dow

      5. 6.4.5 huafeng group

      6. 6.4.6 LANXESS

      7. 6.4.7 Radici Partecipazioni SpA

      8. 6.4.8 Shenma Industrial Co. Ltd

      9. 6.4.9 Solvay

      10. 6.4.10 Sumitomo Chemical Co. Ltd

      11. 6.4.11 Tangshan Zhonghao Chemical Co. Ltd

      12. 6.4.12 Tian Li High & New Tech Co. Ltd

  7. *List Not Exhaustive
  8. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Rising Awareness of Bio-based Adipic Acid

    2. 7.2 Others

** Subject to Availability

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