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.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players 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.

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