Global Adipic Acid Market is Estimated to Grow at a CAGR of above 3% – Market Research Report by Hexa Research

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The global “adipic acid market” is projected to witness a huge growth at a compound annual growth rate (CAGR) of more than 3% during the estimated period. Adipic acid is widely utilized as a prerequisite component in nylon manufacturing, which has a huge application scope in the automotive market.

The global market for adipic acid is forecasted to grow at a CAGR of above 3% during the forecasted period. This market is driven by adipic acid’s wide usage as an intermediate of polyamide 66 and its use in polyurethane and adipic esters for manufacturing various end products. Adipic Acid, which is a white crystalline powder, is an organic compound and the most predominant dicarboxylic acid annually produced. It is mainly used as a precursor for the production of nylon.

Adipic Acid finds major application in the chemical industry in the production of polymers, particularly for the synthesis of nylon 6-6 where it is used as a monomer. It can also be used as a monomer or intermediate for the synthesis of mono – or polyesters for plasticizers, polyurethanes, foams, coatings and lubricant additives. Its other applications include detergents, plasticizers, and coatings. It can also be used in some consumer specific products such as dish washing machine tablets. It is also used as an additive in laboratory chemicals, as additive in flue gas desulphurization, as a pelleting agent in disinfection pills for drinking water, as pH regulator in diverse processes such as the production of detergents and cleaning agents and as a tanning agent in the pre-treatment of leather.

The wide application of nylon 6, 6, which is manufactured using adipic acid, in the automotive industry, is expected to fuel growth for the global adipic acid market. Adipic acid is increasingly used in textiles and electronics sector as well, thus, the growth of these sectors is likely to augment the growth of adipic acid market. The increasing demand for polyurethanes is also expected to propel market growth. Growing awareness amongst manufacturers and consumers about reducing carbon footprints is likely to increase the commercial use of bio-adipic acid thereby intensifying market demand. With the increasing number of government benefits and price subsidies, bio-adipic acid manufacturers have started manufacturing adipic acid from bio-based feedstock. Demand of bio-adipic acid in a number of industries is further propelled by the demand for environment-friendly chemical manufacturing processes.

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Increase in auto sales, rising housing market in emerging economies along with proposals for improvement of infrastructure is expected to drive the polyamide 66 market, thereby steering the adipic acid market. Use of adipate esters as a solvent in coatings and paints and use of polyurethane in garments is forecasted to rise, thus fueling demand for this market.

Research and Development are expected to drive this market with the rise in demand for bio-based adipic acid. The manufacturing companies, end-product manufacturers, and associations are expected to infuse substantial investment for future technological modifications and advancements to manufacture bio-based adipic acid as precursor with competitive or similar properties that can replace metals and compliment the new demands emerging from various end-user industries.

Adipic Acid being a severe eye irritant must be used in industries after taking several safety measures. It causes health issues when workers are exposed to adipic acid during maintenance operations, analysis, sampling, mixing and (un)loading. Thus, the risk of exposure must be kept as minimum as possible and at a safe level by adopting appropriate risk management measures. Adipic acid might come in contact with consumers when using dishwashing tablets and laundry and thus, must be formulated in suitable concentrations so as to comply with the safety measures. It causes severe environmental hazards including Aquatic toxicity such as harm to algae and invertebrates. Industrial aqueous releases containing the acid can be controlled by using risk assessment and can be directed to a waste water treatment plant or can be destroyed by complying with the local regulations. Recycling, treatment, and disposal, must comply with appropriate regulations to preserve environment.

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The Asia-Pacific region commands this market owing to its burgeoning demand for adipic acid in the manufacturing of polyamide 66 for divergent applications particularly in commercial goods, industrial goods, electrical & electronics and automotive. Asia-Pacific region is anticipated to be followed by Europe and North America in terms of value and volume in the adipic acid market. North American market is expected to witness swelling growth over the forecasted period on account of stabilization of the overall business need in the region. Russia and Latin America are among the other markets expected to witness successful adipic acid markets.

Major participants of this market include INVISTA, Shandong Haili Chemical Industry, Ascend Performance Materials, Radici Partecipazioni, Solvay SA and BASF. Other important vendors in the market include American Tartaric Products, Celexion, KIC Chemicals, PetroChina, TRInternational, SK Capital Partners, TCI Tokyo Chemical Industry and Verdezyne among others.

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