Adipic Acid Market Size, Share & Trends Report

Adipic Acid Market Size, Share & Trends Analysis Report By Application (Nylon 66 Fiber, Nylon 66 Resin, Polyurethane, Adipate Ester), By Region (APAC, North America, Europe, MEA, CSA), And Segment Forecasts, 2018 - 2024

  • Published Date: Jul, 2018
  • Base Year for Estimate: 2017
  • Report ID: 978-1-68038-078-1
  • Format: Electronic (PDF)
  • Historical Data: 2014-2016
  • Number of Pages: 99

Industry Insights

The global adipic acid market size was valued at USD 5.56 billion in 2016 and is expected to develop at a CAGR of 4.7% over the forecast period. The market is driven by increasing demand for lightweight and durable products in the automotive, construction, and electronics industries.

Rapidly expanding the global construction industry is also projected to drive the product demand in building components such as exterior panels, insulation materials, and housing electronics. Growing automotive and packaging industries are also contributing toward market growth.

U.S. adipic acid market

Engineering polymers in North America, Europe, and Asia Pacific regions are likely to account for the largest demand for adipic acid. Adipic acid is used as a precursor to manufacture nylon 66, a widely used ingredient in advanced engineering products, which are used in the automobile, construction, footwear, furniture, and electrical and electronics industries.

Asia Pacific holds excellent potential for market penetration as adipic acid’s supply in this region is disrupted owing to low spot prices. Adipic acid manufacturers are capitalizing on cheap, abundant raw material currently present in the market. However, it may result in overutilization, therefore bringing down the prices.

Application Insights

Adipic acid is used as a monomer in the manufacturing of nylon 6,6. Approximately 70 to 80% of adipic acid manufactured is used to produce nylon 6,6. Other applications of adipic acid include polyurethanes and adipic acid esters, such as Di-2-Ethylhexyl Adipate (DOA) which are utilized as plasticizers for Polyvinyl Chloride (PVC) resins.

Polyurethane (PU) is likely to emerge as the second fastest-growing segment over the forecast period accounting for 15.98% of the adipic acid market. There is a high demand for innovative PU (rigid and flexible) foams in several end-use industries on account of their durability, versatility, low cost, and high functionality.

These foams are considered as excellent and safe filling materials for mattresses and seating cushions.PU foams can also be easily altered to the required density and, thus, offer flexibility to furniture designers for developing innovative new products. They are used in several industry verticals including construction and building, automotive, furniture and bedding, footwear, electronic appliances, and Coatings, Adhesives, Sealants, and Elastomers (CASE).

Global adipic acid market

Adipic acid consumed for the manufacturing of nylon 66 fiber and resins was estimated to be around 2,600-kilo tons in 2016. These segments are said to expand at a healthy CAGR of 4.2 % and 3.6% respectively during the forecast period. Nylon 66 consumption for global electronic protection devices was estimated to be around 20.9-kilo tons in 2015.

Furniture and interior was the fastest-growing end-use segment for adipic acid-based PU. The construction sector is expected to emerge as the most significant end-use segment for PU over the next few years. Rapidly expanding the furniture industry in emerging economies, such as India, is anticipated to offer numerous growth opportunities for the market over the forecast period.

Regional Insights

North America is one of the major supply hubs for engineered polymers, therefore, making it a potential destination for adipic acid. North America’s adipic acid demand was estimated to be around 858.6 kilo tons in 2015 and is estimated to grow further at a rate of 2.6% over the forecast period.

Growing automobile industry in this region is likely to be the major factor for market growth. The Asia Pacific market is exhibiting a significant potential for adipic acid manufacturers to set up base in this region owing to the business-friendly atmosphere. The product demand in this region is expected to reach 1,551.8 kilo tons by the end of the forecast period.

Adipic Acid Market Share Insights

Major adipic acid manufacturers and distributors operating around the globe include Asahi Kasei Corporation, BASF SE, Invista, Lanxess AG, and Ascend Performance Materials LLC. Adipic acid manufacturers are currently strategizing to physically position themselves between raw material supply hub and end-use industries to attain optimum growth and profit margin. Adhesive and sealant manufacturers are moving manufacturing bases near the adipic acid supply hub is one of the significant trends in the industry. These moves are hinted towards attaining supply efficiency.

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2014 to 2024. For the purpose of this study, Grand View Research has segmented the global adipic acid market report on the basis of application and region:

  • Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2024)

    • Nylon 66 Fiber

    • Nylon 66 Resins

    • Polyurethanes

    • Adipate Esters

    • Others

  • Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2024)

    • North America

      • The U.S.

    • Europe

      • Germany

      • The U.K.

      • France

    • Asia Pacific

      • China

      • India

      • Japan

    • Central & South America

    • Middle East & Africa (MEA)

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