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How is the Adipic AcidMarket Expected to Expand from 2024 to 2033?

The adipic acid market has seen significant growth recently. It will rise from $6.73 billion in 2023 to $7.11 billion in 2024, representing a CAGR of 5.7%. The historical growth is linked to nylon demand, the synthetic fiber boom, historical conflicts promoting synthetic materials, globalization and trade, and applications in electronics and consumer goods.

The adipic acid market is projected to see strong growth, reaching $9.0 billion by 2028 at a CAGR of 6.1%. Growth factors include the textile industry’s expansion, consumer preferences, infrastructure development, automotive fuel efficiency standards, and climate change initiatives. Major trends involve biotechnological production, sustainable feedstocks, carbon capture integration, and advanced analytical tools.

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What Influences Are Propelling the Adipic Acid Market Forward?

The adipic acid market is anticipated to grow alongside the expanding automobile industry. This sector includes companies involved in the design, manufacture, marketing, and sale of vehicles. The automobile industry is experiencing growth due to increased demand for personal mobility, economic expansion, and urbanization. Adipic acid enhances automotive components’ performance, durability, and aesthetics, contributing to vehicle efficiency and safety. For instance, in April 2024, the Society of Motor Manufacturers and Traders reported that the number of vehicles on UK roads reached 41.4 million in 2023, with car ownership rising by 1.6% to 35.7 million. Thus, the expanding automobile industry is driving the adipic acid market.

What Key Segments Exist Within the Adipic Acid Market?

1) By Raw Material: Cyclohexanol, Cyclohexanone

2) By Sales Channel: Direct Sale, Indirect Sale

3) By Application: Nylon 6, 6 Fiber, Nylon 6, 6 Resin, Polyurethanes, Adipate Esters

4) By End Use Industry: Automotive, Electrical And Electronics, Packaging And Consumer Products, Building And Construction, Textile, Other End-Use Industries

What Trends Are Coming to the Forefront in the Adipic Acid Market?

Companies in the adipic acid market are focusing on innovative products like Eco-Friendly Nylon 66 to secure market competitiveness. In August 2022, Toray Industries Inc. from Japan introduced 100% Bio-Based Adipic Acid, sourced from sugars derived from inedible biomass, promoting reduced carbon emissions and environmental impact while maintaining necessary quality standards.

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What Regions Are Leading the Charge in the Adipic Acid Market?

Asia-Pacific was the largest region in the adipic acid market in 2023. The regions covered in the adipic acid market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Adipic Acid Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the adipic acid market, its market share, and analyzes key competitors along with their market positions.

The Table Of Content For The Adipic Acid Market Include

1. Adipic Acid Market Executive Summary

2. Adipic Acid Market Segments

3. Adipic Acid Market Size And Template Market Growth Rate

4. Key Adipic Acid Market Trends

5. Major Adipic Acid Market Drivers

……

25. Key Mergers And Acquisitions In The Adipic Acid Market

26. Top Adipic Acid Companies

27. Adipic Acid Market Opportunities And Strategies

28. Adipic Acid Market, Conclusions And Recommendations

29. Appendix

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