Global Adipic Acid Market 2017-2021

Overview of the global adipic acid market

Market research analysts at Technavio predicts that the global adipic acid market will grow steadily over the next four years and in terms of volume, will post a CAGR of more than 3% by 2021. This market research analysis identifies the growing demand for adipic acid from the automotive industry as one of the key growth factors for the global adipic acid market. Plastics such as nylon are largely used in the automotive industry. To meet the rising demand for fuel-efficient vehicles, vendors in the market are leveraging the use of lightweight plastics without compromising on fuel efficiency. Moreover, fluctuating fuel prices and government initiatives to reduce pollution will also compel automotive manufacturers to prefer lightweight plastics for manufacturing. In addition, nylon is also slowly replacing the metals, due to the durability factor associated with the product. The associated benefits of the material are driving the growth of the adipic acid market.

In addition to the growing demand for adipic acid, an increase in technological innovations will also fuel the growth of the market. Major industry players are focusing on robust R&D to promote the use of adipic acid across various industrial applications. Additionally, benefits of the material such as good resistance power, enhanced clarity, low smoke emission, and stiffness will also fuel the adoption of these materials for various applications, and will in turn, enhance the growth of the adipic acid market.

Competitive landscape and key vendors

The adipic acid market is consolidated with the presence of few large scale and small scale vendors. To retain their foothold, vendors in the market are competing on factors such as innovation, price, operational cost, and product quality. To increase their market shares in the adipic acid market, few market players are focusing on offering products at comparatively lesser prices than their competitors. To retain their market positions, a few well-established vendors are also competing on the basis of financial and technological resources.

The leading vendors in the market are –

• Asahi Kasei
• BASF
• INVISTA
• LANXESS
• Solvay

The other prominent vendors in the market are Ascend Performance Materials, PetroChina Liaoyang Petrochemical, Radici Partecipazioni, RENNOVIA, Shandong Haili Chemical Industry, Shandong Hongye Chemical Group, and Verdezyne.

Market segmentation by application and analysis of the adipic acid market

• Nylon 6,6 fibers
• Nylon 6,6 resins
• Polyurethanes
• Adipic-adipate esters

The nylon 6,6 fibers accounted for the major share of the adipic acid market during 2016.  Nylon 6,6 fibers are used in the production of apparels and toothbrushes. The high-tenacity nylon fibers are also extensively used in the production of cords, ropes, and parachute fabrics. This exorbitant use of nylon 6,6 fibers will fuel the growth of the adipic acid market in this segment.

Market segmentation by geography and analysis of the adipic acid market

• APAC
• Europe
• North America

In terms of geographic regions, APAC accounted for the major shares of the adipic acid market during 2016. The rapid urbanization coupled with industrialization will be the major factors fueling the growth of the market in this region. Moreover, the increasing demand for adipic acid from the automotive, electrical and electronics, textile, and consumer goods sectors in the developing economies in APAC, will also influence the growth of the adipic acid market.

Key questions answered in the report include

• What will the adipic acid market  size and the growth rate be in 2021?
• What are the key factors driving the global adipic acid market?
• What are the key market trends impacting the growth of the global adipic acid market?
• What are the challenges to market growth?
• Who are the key vendors in the global adipic acid market?
• What are the market opportunities and threats faced by the vendors in the global adipic acid market?
• Trending factors influencing the market shares in the APAC, Europe, and North America?
• What are the key outcomes of the five forces analysis of the global adipic acid market?