Adipic Acid Market Scope
Adipic acid is also known as hexanedioic acid is the organic compound used in food and pharmaceutical industries. It is produced mainly as a precursor for the production of nylon. It is an odorless compound present in the form of white crystals. Also, it is very soluble in methanol, ethanol and insoluble in acetic acid.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Asahi Kasei Corporation (Japan), Ascend Performance Materials Inc. (United States), BASF SE (Germany), Invista (United States), Lanxess AG (Germany), PetroChina Liaoyang Petrochemical (China), Radici Group (Italy), Rhodia (France), Domo Chemicals (Germany) and HUAFENG Group (China) |
CAGR | % |
The competitive landscape for adipic acid includes information from a competitor. Company overview, financials, revenue generated, market potential, investment in R&D, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance are among the details included. The information presented above is only about the companies' focus on the adipic acid market. The major key players Asahi Kasei Corporation, Ascend Performance Materials Inc., and BASF SE are contributing their share to increasing the market growth.
Asahi Kasei Corporation (Japan), Ascend Performance Materials Inc. (United States), BASF SE (Germany), Invista (United States), Lanxess AG (Germany), PetroChina Liaoyang Petrochemical (China), Radici Group (Italy), Rhodia (France), Domo Chemicals (Germany) and HUAFENG Group (China) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are The Chemical Company (United States), Tokyo Chemical Industry Co., Ltd. (Japan), Shandong Haili Chemical Industry Company Ltd. (China) and Shandong Hongye Chemical Company, Ltd. (China).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Adipic Acid market by Type , by Application (Polymer & Plasticizers, Lubricants & Adhesives, Medicine, Foods and Others (Personal Care)) and Region with country level break-up.
On the basis of geography, the market of Adipic Acid has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2022.
Market Leaders and their expansionary development strategies
In January 2020, BASF acquired Solvay’s polyamide (PA 6.6) business. This acquisition will allow BASF to provide better engineering plastics solutions, e.g., for autonomous driving and e-mobility.
BASF completed the acquisition of Solvay's polyamide (PA 6.6) business in January 2020. BASF will be able to supply superior engineered plastics solutions, such as for autonomous driving and e-mobility, as a result of this acquisition. The deal also improves the company's access to Asia, as well as North and South America, as well as growing areas. BASF will be present along the whole value chain for polyamide 6.6 and improve supply reliability through backward integration into the essential raw ingredient adiponitrile (ADN). In 2018, INVISTA unveiled plans of adding 40,000 metric tons of nylon 6,6 polymer capacity at its current 150,000-ton polymer plant at the Shanghai Chemical Industry Park (SCIP).
The United States Food and Drug Administration (FDA) defines adipic acid as GRAS, to be used in food as a flavoring agent or adjuvant, leavening agent, or pH control agent.
Market Growth Drivers:
Growing Demand for Lightweight and Durable Products in the Automotive, Construction, and Electronics Industries
Challenges:
Mild Skin Irritant and Mildly Toxic
Restraints:
Stringent Environmental Regulations Owing to Hazard Substance
Opportunities:
Advances on Adipic Acid Synthesis Such As Bio-Renewable Feedstocks, And Cleaner Technology from Fossil Fuels over Novel Catalytic Materials
Key Target Audience
Adipic Acid Manufacturers, Raw Material Suppliers, Chemical and Polymer Companies, Traders/Exporters/Importers, End-Use Industry and Others