Adipic Acid Market Segments, Drivers, Restraints, And Trends For 2024-2033

The Business Research Company's Adipic Acid Market Segments, Drivers, Restraints, And Trends For 2024-2033

LONDON, GREATER LONDON, UK, August 15, 2024 /EINPresswire.com/ -- The adipic acid market has experienced robust growth in recent years, expanding from $6.73 billion in 2023 to $7.11 billion in 2024 at a compound annual growth rate (CAGR) of 5.7%. The growth in the historic period can be attributed to demand for nylon, the synthetic fiber boom, world wars and synthetic materials, globalization and trade, and electronics and consumer goods.

Strong Future Growth Anticipated
The adipic acid market is projected to continue its strong growth, reaching $9.0 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to textile industry growth, consumer behavior and preferences, infrastructure development, automotive fuel efficiency standards and climate change mitigation efforts.

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Growth Driver Of The Adipic Acid Market
The increasing automobile industry is expected to propel the growth of the adipic acid market going forward. The automobile industry refers to the collection of companies and activities involved in designing, developing, manufacturing, marketing, and selling motor vehicles. The automobile industry is increasing due to demand for personal mobility, economic growth, and urbanization. Adipic acid plays a significant role in enhancing the performance, durability, and aesthetics of automotive components and materials by contributing to the efficiency and safety of automobiles.

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Major Players And Market Trends
Key players in the adipic acid market include PetroChina Company Limited, Invista, BASF SE, Sumitomo Chemical Company Limited, Asahi Kasei Corporation, Evonik Industries AG.
Major companies operating in the adipic acid market are focusing on developing innovative products, such as Eco-Friendly Nylon 66, to gain a competitive edge in the market. Eco-friendly Nylon 66 refers to a type of nylon material produced using environmentally sustainable methods and incorporating recycled or bio-based components.

Segments:
1) By Raw Material: Cyclohexanol, Cyclohexanone
2) By Sales Channel: Direct Sale, Indirect Sale
3) By Application: Nylon 6, 6 Fiber, Nylon 6, 6 Resin, Polyurethanes, Adipate Esters
4) By End Use Industry: Automotive, Electrical And Electronics, Packaging And Consumer Products, Building And Construction, Textile, Other End-Use Industries

Geographical Insights: Asia-Pacific Leading The Market
Asia-Pacific was the largest region in the adipic acid market in 2023. The regions covered in the adipic acid market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Adipic Acid Market Definition
Adipic acid refers to a white, crystalline dicarboxylic acid with the molecular formula C6H10O4. It is utilized primarily in producing nylon and in manufacturing plasticizers, polyurethane, lubricants, and food additives.
The main raw materials of adipic acid are cyclohexanol and cyclohexanone. Cyclohexanol is a primary raw material used in the production of adipic acid. It undergoes oxidation to form adipic acid, which is a critical step in the manufacturing process. The various sales channels include direct sales and indirect sales. The various applications include nylon 6, 6 fiber, nylon 6, 6 resin, polyurethanes, and adipate esters used in various end-use industries such as automotive, electrical and electronics, packaging and consumer products, building and construction, textile, and other end-use industries.

Adipic Acid Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Adipic Acid Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on adipic acid market size, adipic acid market drivers and trends, adipic acid market major players, adipic acid competitors' revenues, adipic acid market positioning, and adipic acid market growth across geographies. The adipic acid market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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