Dublin, May 07, 2024 (GLOBE NEWSWIRE) -- The "Adipic Acid - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Adipic Acid Market to Reach $18.2 Billion by 2030
The global market for Adipic Acid estimated at US$14.1 Billion in the year 2023, is projected to reach a revised size of US$18.2 Billion by 2030, growing at a CAGR of 3.8% over the analysis period 2023-2030.
The Adipic Acid market's growth pace is dictated by dynamics within its end-use sectors, as demonstrated in market analysis by end-use segment. Nylon 6/6 emerges as the largest end-use segment, while polyurethane represents the fastest-growing segment.
Nylon 6,6 Application is expected to record a 3.9% CAGR and reach US$10.1 Billion by the end of the analysis period. Growth in the Polyurethanes Application segment is estimated at 4.1% CAGR for the next 7-year period.
The U.S. Market is Estimated at $3.8 Billion, While China is Forecast to Grow at 6.3% CAGR
Regional analysis highlights Asia-Pacific's evolution as the most significant market, with favorable prospects also seen in other developing regions.Conversely, developed regions anticipate slower growth rates. The stable economic scenario further enhances growth prospects, shaping the production landscape of Adipic Acid.
The Adipic Acid market in the U.S. is estimated at US$3.8 Billion in the year 2023. China, the world's second largest economy, is forecast to reach a projected market size of US$3.7 Billion by the year 2030 trailing a CAGR of 6.3% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2% and 3.1% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 2.5% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$2.4 Billion by the year 2030.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 184 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $14.1 Billion |
| Forecasted Market Value (USD) by 2030 | $18.2 Billion |
| Compound Annual Growth Rate | 3.8% |
| Regions Covered | Global |
MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Global Economic Update
- Adipic Acid Market: End-Use Sector Dynamics to Set the Pace of Growth
- Market Analysis by End-Use Segment
- Nylon 6/6 - Largest End-Use Segment
- Polyurethane - Fastest Growing Segment
- Market Analysis by Region
- Asia-Pacific Evolves into Most Important Regional Market
- Prospects Remain Favorable in Other Developing Regions As Well
- Slow Paced Growth Projected in Developed Regions
- Stable Economic Scenario to Enhance Growth Prospects
- Production Scenario
- Adipic Acid - Global Key Competitors Percentage Market Share in 2024 (E)
MARKET TRENDS & DRIVERS
- Bio-based Adipic Acid: A Cost-effective and Eco-Friendly Alternative to Adipic Acid
- NREL Study Achieves Conversion of Lignin-derived Compounds into Adipic Acid
- Automotive Industry - Increasing Use of Nylon 6/6 in Vehicles Fuels Adipic Acid Demand
- Emissions Regulations Landscape in Major Countries/Regions
- Growing Use of Nylon 6/6 in Carpets Presents Opportunities
- Rising Production of Footwear Accelerates Consumption of Adipic Acid based Polyurethanes
- Growth in Electronics Manufacturing Activity to Raise Demand for Adipic Acid
- Food Additives: A Small yet Promising Application Market
- Opportunities for Adipic Acid in Food Acidulants
FOCUS ON SELECT PLAYERS(Total 24 Featured)
- Asahi Kasei Corporation
- Ascend Performance Materials LLC
- BASF SE
- BioAmber Inc.
- Genomatica Inc.
- Huafon Group Co. Ltd.
- INVISTA
- LANXESS AG
- PetroChina Company Ltd.
- Radici Partecipazioni SpA
- Shandong Haili Chemical Industry Co. Ltd.
- Shandong Hongye Chemical Group Co. Ltd.
- Solvay SA
- Sumitomo Shoji Chemical Co. Ltd.
- Tokyo Chemical Industry Co. Ltd.
- Verdezyne, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/5x5e7u
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