The adipic acid market size is expected to see strong growth in the next few years. It will grow to $9.0 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to textile industry growth, consumer behavior and preferences, infrastructure development, automotive fuel efficiency standards and climate change mitigation efforts. Major trends in the forecast period include biotechnological production, sustainable feedstocks, integration with carbon capture, decarbonization and renewable energy integration, and advanced analytical and monitoring tools.
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Segmentation & Regional Insights
The adipic acid market covered in this report is segmented –
1) By Raw Material: Cyclohexanol, Cyclohexanone
2) By Sales Channel: Direct Sale, Indirect Sale
3) By Application: Nylon 6, 6 Fiber, Nylon 6, 6 Resin, Polyurethanes, Adipate Esters
4) By End Use Industry: Automotive, Electrical And Electronics, Packaging And Consumer Products, Building And Construction, Textile, Other End-Use Industries
Asia-Pacific was the largest region in the adipic acid market in 2023. The regions covered in the adipic acid market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increasing automobile industry is expected to propel the growth of the adipic acid market going forward. The automobile industry refers to the collection of companies and activities involved in designing, developing, manufacturing, marketing, and selling motor vehicles. The automobile industry is increasing due to demand for personal mobility, economic growth, and urbanization. Adipic acid plays a significant role in enhancing the performance, durability, and aesthetics of automotive components and materials by contributing to the efficiency and safety of automobiles. For instance, in April 2024, according to the Society of Motor Manufacturers and Traders, a UK-based influential trade association, the number of vehicles on UK roads reached 41.4 million in 2023, with car ownership increasing by 1.6% to 35.7 million. Therefore, the increasing automobile industry is driving the growth of the adipic acid market.
Key Industry Players
Major companies operating in the adipic acid market are PetroChina Company Limited, Invista, BASF SE, Sumitomo Chemical Company Limited, Asahi Kasei Corporation, Evonik Industries Aktiengesellschaft, Du Pont de Nemours Inc., LANXESS Aktiengesellschaft, Huntsman Corporation, Solvay Société Anonyme, UBE Corporation, Ascend Performance Materials Operations LLC, Shenan Shenma Nylon Chemical Co. Ltd., Radici Partecipazioni SpA, Fibrant BV, DOMO Chemicals GmbH, Finoric LLC, Alfa Chemical Co. Ltd., Wego Chemical Group Inc., Graham Chemical Corporation, KeenBolden LLC, Otto Chemie Pvt. Ltd., Tangshan Zhonghao Chemical Co. Ltd., BioAmber Inc.
The adipic acid market report table of contents includes:
1. Executive Summary
2. Adipic Acid Market Characteristics
3. Adipic Acid Market Trends And Strategies
4. Adipic Acid Market – Macro Economic Scenario
5. Global Adipic Acid Market Size and Growth
………………………….
32. Global Adipic Acid Market Competitive Benchmarking
33. Global Adipic Acid Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Adipic Acid Market
35. Adipic Acid Market Future Outlook and Potential Analysis
36. Appendix
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