Adipic Acid Market Size, Share & Trends Report

Adipic Acid Market Size, Share & Trends Analysis Report By Application (Nylon 6, 6 Fiber, Nylon 6, 6 Resin, Polyurethane, Adipate Esters), By Region (North America, Europe, Asia Pacific), And Segment Forecasts, 2023 - 2030

  • Report ID: 978-1-68038-078-1
  • Number of Pages: 78
  • Format: Electronic (PDF)

Research Methodology

A three-pronged approach was followed for deducing the adipic acid market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for adipic acid market to gather the most reliable and current information possible.

  • We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
  • We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
  • We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
  • We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
  • We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of adipic acid market data depending on the type of information we’re trying to uncover in our research.

  • Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

  • Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

  • Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

  • Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

  • Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

  • Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

  • This step also entails the finalization of the report scope and data representation pattern.

  • Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Adipic Acid Market Categorization:

The adipic acid market was categorized into four segments, namely application (Nylon 6, 6 Fiber, Nylon 6, 6 Resin, Polyurethane, Adipate Esters), and regions (North America, Europe, Asia Pacific, Latin America, Middle East & Africa).

Segment Market Methodology:

The adipic acid market was segmented into application, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

  • Demand estimation of each product across countries/regions summed up to from the total market.

  • Variable analysis for demand forecast.

  • Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

  • Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

  • Used extensively for new product forecasting or analyzing penetration levels.

  • Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

  • Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

  • This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The adipic acid market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into fourteen countries, namely, the U.S.; Canada; Mexico; Germany; U.K.; France; Italy; China; India; Japan; Brazil; Argentina; Saudi Arabia; South Africa

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Adipic acid market companies & financials:

The adipic acid market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

  • Ascend Performance Materials is a company that manufactures and distributes chemical products. It offers various product categories, which include intermediate chemicals, specialty chemicals, resins, fibers, and compounds. The company operates its business through nine global locations, including five fully integrated facilities in the Southeastern United States, which are engaged in the production and innovation of nylon 6,6. It has three large-scale, prime chemical processing facilities. These three facilities enable the company to suffice the continuous demand for chemicals in various applications ranging from car parts to carpets, circuit boards to cable ties, and airbags to apparel. The company is well known for the production of food-grade adipic acid globally. Through its global network, it transports adipic acid in various quantities in tank trucks, rail cars, 50-pound bags, and super sacks.

  • Asahi Kasei Corporation is a multinational company that manufactures chemicals. It functions through three business segments, namely Material, Home, and Health Care. The company provides a wide range of electronics, chemicals, and textiles & fibers through its material segment; construction materials through its home segment; and acute care, medical care solutions, and pharmaceuticals through its health care segment. Materials segment is managed through its plants located across North America, Europe, and Asia. Its dedicated adipic acid production plants in Japan and South Korea have enabled a significant penetration of the company in the Asian market. The company’s adipic acid proceeds are marketed and supplied through its styrene & nylon intermediates marketing & sales department. The company offers its products such as adipic acid, styrene, methyl methacrylate, polyethylene, polystyrene, caustic soda, chlorine, and acrylonitrile (AN) through its petrochemicals segment, which is operated under its chemicals business.

  • BASF SE is a multinational company that manufactures chemicals. It is the largest chemical producer in the world. The company has joint ventures & subsidiaries in more than 80 countries. It has six integrated production sites and 390 other production sites. The company operated in several industries such as automotive & transportation, chemicals, construction, electronics & electric, pharmaceuticals, plastics & rubber, and others. It produces chemicals and intermediates through its chemical division. The company executes the manufacturing and sales of adipic acid through its monomers segment under chemicals division. Monomers division also provides a range of large volume monomers, basic polymers, and inorganic chemicals consumed by industries such as plastics, electronics, lumber, furniture, packaging, textile, construction, and automotive.

  • INVISTA is a subsidiary of Koch Industries that manufactures fibers, resins, and intermediates. It primarily manufactures fibers and fabrics for apparel, flooring, home interiors, automotive, industrial, and outdoor & travel industries. High-performance polyamide, engineering polymer, nylon polymer, PET polymer, and resin are other products offered through its Polymers & Plastics segment. The company also produces chemical intermediates, such as nylon and spandex, for various fiber and resin applications. It also offers specialty chemicals in its product portfolio, including borons, diacids, solvents, polyols, nitriles, and amines.

  • LANXESS is a chemical manufacturing company, which operates in 33 countries worldwide and is headquartered in Cologne, Germany. It is engaged in the manufacturing, research & development, and marketing of chemical intermediates, fine specialty chemicals, and plastics. The company's business includes advanced intermediates, specialty additives, performance chemicals, and engineered materials. It manages urethane systems, inorganic pigments, leather, and Saltigo. The company also offers e-business solutions to increase efficiency in customer reach & accessibility, vendor purchase management, and inventory management. The company offers two products under adipic acid one of them is sold under the brand name ULTRAMOLL.

  • Liaoyang Tianhua Chemical Co., Ltd. Liaodong Fine Chemical Co., Ltd. is a manufacturer of chemical products. Its product portfolio includes adipic acid, cyclohexane, 1,6-hexanediol, nylon acid, dimethyl adipate, and ethylene glycol. The adipic acid offered by the company is a monoclinic crystal at room temperature having a melting point of 152°C and a boiling point of 337.5°C. It is packed in a weaving bag lined with a plastic bag. The product is soluble in alcohol, acetone, ester, and other organic solvents.

  • PetroChina Company Limited is an oil & gas producing and distributing company. The company is the listed arm of the state-owned China National Petroleum Corporation. Its offerings include products as well as services. The company offers refined and chemical products while its services include oil/gas transportation service, chemical sales & technology center, fuel card, and PetroChina fuel cards. Its products are distributed to the company’s manufacturing components, which are used in various industries such as construction, automotive, medical manufacturing, electrical appliances, packaging, household products, and others. Its adipic acid accounts for more than 50% in China.

  • Radici Partecipazioni SpA is a producer of specialty chemicals, high-performance polymers, and advanced textile solutions. Chemical intermediates offered by the company include adipic acid, polyamides 6 & 6.6, engineering polymers, and synthetic yarn. Its products are used in various sectors, such as automotive, sports, electrical/electronics, apparel, furnishings, and household appliances. Radichem is a brand offered by the company, which covers the manufacturing of chemical intermediates, plasticizers, coatings, detergents, cosmetics, paint removers, esters for biodegradable solvents, KA Oil, nitric acid, intermediates for solvents and polyesters, and intermediates for coatings & polyamides.

  • Rhodia Specialty Chemicals India Ltd. is a company associated with Solvay’s Novecare business. Solvay is a developer of high-performance materials for industrial, energy & environment, electrical & electronics, consumer goods & healthcare, building & construction, agro-food, and aeronautic & automotive sectors. Rhodia Specialty Chemicals India Ltd. serves various markets, including oilfield chemicals, industrial formulations, home and personal care, and paints and coatings. The company operates a plant in Maharashtra, which produces personal care, surfactants for agrochemicals, and home care products. The company offers its adipic acid product under the brand name Rhodiacid which is used as polyester polyols for polyurethanes.

  • Shandong Haili Chemical Co Ltd is a manufacturer of chemical products. The company is one of the members of a large-scale enterprise named Bo hui. Its product portfolio includes caustic soda, adipic acid, epichlorohydrin, polyvinyl chloride, and others. It exports adipic acid to South Korea, Taiwan, Thailand, and some of the countries in the Americas. The company offers adipic acid only for industrial use.

Value chain-based sizing & forecasting

Supply Side Estimates

  • Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

  • Segment revenue determination via variable analysis and penetration modeling.

  • Competitive benchmarking to identify market leaders and their collective revenue shares.

  • Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

  • Identifying parent markets and ancillary markets

  • Segment penetration analysis to obtain pertinent

  • revenue/volume

  • Heuristic forecasting with the help of subject matter experts

  • Forecasting via variable analysis

Adipic Acid Market Report Objectives:

  • Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

  • Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

  • Understanding market estimates and forecasts (with the base year as 2022, historic information from 2018 - 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Adipic Acid Market Report Assumptions:

  • The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

  • The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

  • We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

  • All market estimates and forecasts have been validated through primary interviews with the key industry participants.

  • Inflation has not been accounted for to estimate and forecast the market.

  • Numbers may not add up due to rounding off.

  • Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

  • Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

  • Latin America includes Central American countries and the South American continent

  • Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

  • Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

  • Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.

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