Adipic Acid Market to offer a healthy CAGR of 4.2% during 2020-25
February 18, 2020
Adipic Acid Market Overview:
Adipic acid market is likely to witness a healthy CAGR of 4.2% during the forecast period. The global adipic acid market, along with its end products, has registered a direct growth in the previous few years. This growth is expected to surge in the upcoming years. The sturdiness, quality, lightweight properties, remarkable energy absorbing characteristics, an upward in the claim for durable polyamide 66, and the forthcoming safety protocols & innovative procedures for its usage will be the prime driving factors for the global market with the enhanced prominence on its different types and applications.
Report Overview:
This new report from Stratview Research analyses the Adipic Acid Market over the trend period from 2014 to 2019 and forecast period from 2020 to 2025. The insights of the report shall enable informed decision making and strategy formulation for the near future to capitalize on the opportunities.
Salient Features of the Report
The Research Report offers an in-depth view of the market, its health and growth, the factors shaping the industry, the competitive dynamics and a glimpse of the future.
The following are the key features of the report:
- Strategic segmentation
- Market analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Detailed Competitive Rivalry landscaping
- Market trend and forecast analysis
- Future Growth Boulevards
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Adipic Acid Market Segment Insights:
Material Type: engineering plastics & fibers
Based on the material type, the market is segmented as engineering plastics & fibers. The engineering plastics segment is further sub-segmented into automotive, packaging films & coatings, industrial/machinery, electrical & electronics, consumer goods, appliances, wire & cable, and others. About 13.7% of the total demand was registered from the automotive sub-segment in 2012, followed by the consumer goods application sub-segment as the most speedily developing segment in the global adipic acid market.
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Application Type: polyamide/nylon 66, polyurethanes and others
Based on the application type, the market is segmented as polyamide/nylon 66, polyurethanes, adipic/adipate esters, and others. The polyamide 66 application segment is estimated to be the largest-application owing to its specific properties and also on account of the growing demand for lightweight polyamide 66 majorly from the auto component manufacturers.
A highly/moderately/fragment consolidated Market
Some of the major players in the adipic acid market are Asahi Kasei Corporation, Ascend Performance Materials Inc., BASF SE, Invista, Lanxess Aktiengesellschaft, Petrochina Liaoyang Petrochemical, Radici Group, Rhodia, Shandong Haili Chemical Industry Company, Ltd. (BOHUI), and Shandong Hongye Chemical Company, Ltd.
Region: Asia-Pacific region is the largest consumer of adipic acid
In terms of regions, presently, the Asia-Pacific region is the largest consumer of adipic acid. China and Japan are the growth engines of the region with the largest share in the regional volumetric consumption of adipic acid in 2012. The market volume of the acid is relatively low in the European region, and is expected to flourish with a low growth of 1.8% during the forecast period.
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