Synthetic And Bio-Based Adipic Acid Market
Synthetic And Bio-Based Adipic Acid Market - Global Industry Analysis, Market Size, Share, Growth And Forecast, 2012 - 2018
Press Release :
Adipic acid is the most widely used dicarboxylic acid from the industrial perspective. Adipic acid is mainly used for the production of nylon which finds its application in composite materials which are used in manufacturing automobile components.
Some of the other applications of adipic acid other than nylon include:
- Paints and coatings
- Low-temperature lubricants
- Plastic additives
- Polyurethane resins
- Food additives
- Other synthetic fibers
Currently adipic acid is produced commercially by a two stage process:
- Production of cyclohexanone or cyclohexanol (ketone – alcohol oil)
- The second step includes conversion of KA oil to adipic acid
The main chemistry in the production of adipic acid is involved in producing KA mixture. There are various steps to yield the KA intermediate. The second step of converting the KA oil into adipic acid is mostly done by reacting with nitric acid. The nitric acid oxidation of KA oil also produces large amount of nitrous oxide (N2O), and NOx.
Some of the emerging technologies through which adipic acid can be produced include:
- Production of adipic acid through oxidation of benzene
- Adipic acid by direct oxidation of cyclohexane
- Via butadiene carbonylation
- Adipic acid production via biosynthesis
The global adipic acid market was estimated to be 2,914.8 kilo tons in 2010 which is expected to reach market volumes of 4,125.3 kilo tons by 2018, growing at a CAGR of 4.5% from 2013 to 2018.
In terms of revenues, the global market was estimated to be worth USD 4,898.5 million in 2010 which is expected to go up to a market worth USD 8,063.1 million by 2018, growing at a CAGR of 5.8% from 2013 to 2018.
The global adipic acid market is driven by growing demand for nylon 6, 6 resin and fibers in automotive and electronics industries and the growth of the global footwear market where polyurethane being one of the applications of adipic acid is used to manufacture shoe soles.
However, due to rising price of crude oil and the impact adipic acid has on the environment, the world is shifting towards the use of bio-based adipic acid. Apart from providing a clean solution, bio-based adipic acid is also economically viable against its synthetic counterpart.
Over the last decade, demand for bio-based adipic acid has increased considerably due to growing demand for eco-friendly materials and its acceptance by the consumers. However, bio-based adipic acid market is still in its initial phase and is likely to commercialize by 2013 – 2014. Some companies like DSM, Verdezyne and Rennovia have already entered the bio-based adipic acid market and started their pilot operations with extensive R&D activities to support their operations,; many other companies are expected to follow them in the coming years.
Adipic acid finds its major application in:
- Nylon 6, 6 Fibers
- Nylon 6, 6 Resins
- Adipate Esters
Adipic acid is a crucial industrial chemical used in the production of nylon. It is the most widely used industrial dicarboxylic acid. It is virtually absent from the natural world and is produced on an industrial scale with the help of various processes. An overwhelming majority of the total volume of adipic acid produced worldwide – 85% – is used in the production of nylon, while the remainder is divided between paints and coatings, plastic additives, polyurethane resins, food additives, etc.
The production process of adipic acid releases large amounts of nitrous gases, which are highly toxic and harmful to the environment. It is manufactured through the reaction of a mixture of cyclohexanone and cyclohexanol, called ketone alcohol oil, with nitrous compounds. This aspect of the synthetic adipic acid market is hampering its growth and leading to improved prospects for bio-based adipic acid, the production process of which doesn’t cause harm to the environment and is also more cost-effective than synthetic adipic acid. Some of these techniques include direct oxidation of cyclohexane, oxidation of benzene, and biosynthesis.
This report provides detailed statistical information about the polyphenols market. It includes qualitative and quantitative analysis regarding the past performance of the market and market trends that determine the condition of the synthetic ad bio-based adipic acid market, in addition to market forecasts based on the historical statistics. These analyses, performed through reliable analytical tools such as Porter’s five forces analysis and SWOT analysis, present a comprehensive snapshot of the global synthetic and bio-based adipic acid market and help devise market expansion and entry strategies that take into consideration all the aspects of the market.
The report elaborates in detail on the prime factors that affect the growth of the market, both positively and negatively. This reveals key market trends that are poised to significantly impact the market.
Overview of the Synthetic and Bio-based Adipic Acid Market
The report segments the synthetic and bio-based adipic acid markets on the basis of end-use application and geography. It explains the production process of each type of adipic acid and elaborates upon the value chain of the markets for both synthetic and bio-based adipic acid. It then examines the impact of the various drivers and restraints acting on each type of market.
The application segments of the synthetic and bio-based adipic acid market are nylon 6,6 fiber; nylon 6,6 resin; polyurethane; adipate esters; and others. According to geographical distribution of the market, the report presents extensive data about the regional synthetic and bio-based adipic acid markets in North America, Europe, Asia Pacific, and Rest of the World.
The report describes the development of bio-based adipic acid as the trend that will dominate the synthetic and bio-based adipic acid, due to the environmental concerns related to the manufacture process of synthetic adipic acid. Countering this, growing demand for nylon and polyurethanes from the rapidly expanding automotive and footwear industries will help this market expand.
The report provides historical data for the performance of the synthetic and bio-based adipic acid markets by volume and revenue, carrying on to future projections for the market’s growth.
Companies Mentioned in the Research Report
The report includes detailed information on the business strategies of major players operating in the global synthetic and bio-based adipic acid market. Companies covered in the report include BASF, Rhodia, Invista, Liyoyang Petrochemical, and Asahi Kasei.
Major geographies analyzed under this research report are:
- North America
- Rest of the World
This report gives you access to decisive data such as:
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for the coming years
Key highlights of this report
- Overview of key market forces propelling and restraining market growth
- Up-to-date analyses of market trends and technological improvements
- Pin-point analyses of market competition dynamics to offer you a competitive edge
- An analysis of strategies of major competitors
- An array of graphics and SWOT analysis of major industry segments
- Detailed analyses of industry trends
- A well-defined technological growth map with an impact-analysis
- Offers a clear understanding of the competitive landscape and key product segments