Adipic Acid Market: Overview
Adipic acid, also called as hexanedioic acid, is a white crystalline solid that melts at 152°C. It is one of the most important monomers used in the polymer industry. Adipic acid is an organic acid that contains six carbon atoms. It also has two carboxylate groups (–COOH) attached to the terminal carbons in the chain. Since adipic acid contains two carboxylate groups, it is sometimes referred to as a di-acid. All other carbon atoms in adipic acid contain two hydrogen atoms each. These carbon atoms are called saturated carbons, as they contain the maximum number of hydrogen atoms. The most commercial method for formation of adipic acid is oxidation of cyclohexane, which gives cyclohexanone (K) and cyclohexanol (A), called KA oil. This oil further reacts with nitric acid in the presence of a catalyst to produce adipic acid.
Adipic Acid Market: Key Segments
Based on application, the adipic acid market can be segmented into nylon, medicinal, and food. Nylon is the dominant segment of the adipic acid market. Adipic acid is employed as a starting material for the synthesis of nylon. Adipic acid is the basic raw material used for the manufacture of Nylon 66. Industrial chemists produce nylon by making adipic acid react with hexamethylene diamine. Nylon itself is used in several applications including fibers, plastics, filaments, and food packaging materials. Adipic acid is used as a monomer in nylon, paper additives, copolyamides, terpolymers, and unsaturated polyester resins (UPRs). It is employed in polymer additives for epoxy curing agents and plasticizers. Adipic Acid is also utilized as a chemical intermediate in the synthesis of polyesters/diesters, polyester polyols, adiponitrile, cyclopentanone, 1, 6-hexanediol, and dimethyl sebacate. Other applications include solvents, lubricants, soil conditioners, glass protection agents, briquetting agents, leather tanning agents, flue gas desulfurization scrubbers, and cleaning aids. Adipic acid is applied in the pharmaceutical industry. Adipic acid is incorporated into drug tablets in order to help with the controlled release of both acidic and basic drug compounds. Adipic acid is used in the food industry as a flavoring aid as well as gelling aid. Adipic acid is used in antacid tablets to impart tart flavor.
Adipic Acid Market: Regional Outlook
In terms of region, the global adipic acid market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is the dominant adipic acid market, in terms of consumption. Countries such as India and China are projected to hold a significant share of the adipic acid market in the region during the forecast period, due to high demand from automotive manufacturers. Adipic acid is generally used in the production of nylon for composite material, which is applied in the automotive industry. Growth of the automotive industry is likely to propel the global adipic acid market during the forecast period. North America also holds a significant share of the global market for adipic acid. However, the demand in the region is moderate the adipic acid market in the region is anticipated to witness moderate growth during the forecast period. Growing food industry led by increasing population is likely to propel the adipic acid market in the region. Middle East & Africa and Latin America also have the moderate growth of the adipic acid market in the next few years.
Adipic Acid Market: Key Players
Key manufacturers operating in the global adipic acid market are Ascend Performance Materials, BASF SE, Asahi Kasei Corporation, and Lanxess AG. Asahi Kasei Corporation has two production bases: one in its production complex at Nobeoka City in Southern Japan and the other in South Korea.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.