Market Overview:

The response among cyclohexanol and cyclohexanone can incorporate adipic acid. It is one of the unmistakable sorts of aliphatic dicarboxylic acids because of their critical utilization as a feedstock in the assembling of mechanical strands. They have fantastic properties like prevalent sturdiness, outrageous climate execution, and substance safe which make them appropriate for the use in various closures use businesses like car, material, bundling and buyer products, electrical and gadgets, building and development, and others.

A portion of the conspicuous variables that emphatically impact the development of the Adipic Acid Market are developing interest for homegrown machines, expanding per capita extra cash, and expanding utilization of adipic acid in bundling and customer products. Moreover, blasting structure and development industry and expanding use of plastic items in business, just as private area are assessed to drive the interest for adipic acid over the figure period. Besides, expanding interest for lightweight car parts alongside rising auto creation and deals in non-industrial nations is assessed to drive the interest for adipic acid over the figure period. In any case, fluctuating unrefined petroleum cost has solid impact on the artificially crude material value which is probably going to ruin the development of the market.

Competitive analysis

The major players operating in the adipic acid market are INVISTA (U.S.), PetroChina Company Limited (China), Asahi Kasei Corporation (Japan), Ascend Performance Materials (U.S.), BASF SE (Germany), LANXESS (Germany), Radici Partecipazioni SpA (Italy), Solvay S.A. (Belgium), Sumitomo Chemical Co., Ltd. (Japan), BioAmber Inc (U.S.), Shandong Hongye Chemical Company, Ltd. (China) among others.

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Market Segmentation

The global adipic acid market is classified on the basis of application, end-use industries, and region. On the basis of application, the market is classified into polyurethane, nylon 6,6 fiber, nylon 6,6 resin, adipate esters, and others. Among these, nylon 6,6 fiber accounted for the largest market share in 2015 and is predicted to retain their dominance over the forecast period due to increasing usage in automotive industry.

Moreover, it is used as a flavoring and gelling agent in food industry. Continuous growth of food & beverage industry on account of changing food habits combined with expanding population is estimated to rise the market growth over the assessment period. On the basis of end-use industries, the market is categorized into automotive, electrical & electronics, packaging & consumer goods, building & construction, textile, and others. Others end-use industries include food, medical, and furniture. Among the end use industries segment, automotive is expected to witness significant growth due to increasing automotive production and sales in developed and developing countries. Packaging and consumer goods segment are predicted to witness healthy growth due to increasing demand for household appliances along with increasing disposable income.

Regional Analysis

The Asia Pacific is predicted to dominate the adipic market followed by Europe and North America due to increasing demand from automotive, electrical & electronics, and consumer goods. Various countries of the Asia Pacific such as Japan, Thailand, India, China, Vietnam, Malaysia, and South Korea are the fastest growing adipic acid market across the globe and is expected to grow with the same pace over the forecast period. Some of the factors that are attributed to the growth of the market in the Asia Pacific are increasing middle-class population, rising number of working professionals, competitive production costs, and ease in availability of raw material. European adipic acid market is estimated to witness steady growth on account of significant demand from automobile manufacturers. North America adipic acid market is predicted to witness a steady growth since the U.S, and Canada is the major contributors on account of growing textile and healthcare sector along with increasing maintenance of building & construction activities.



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