Adipic Acid Market Size was prized at USD 6.19 billion in 2023. The adipic acid industry is projected to grow from USD 6.50 Billion in 2024 to USD 9.11 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.32% during the forecast period (2024 - 2032). The fast industrialization and increasing applications of artificial polymers in many industries are the key market drivers enhancing market growth. The demand for adipic acid is predicted to increase in the near future due to the growing number of uses for nylon in various sectors.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Market CAGR for adipic acid is driven by the rising demand for 3-D printing. Due to their exceptional qualities, including great flexibility and durability, adipic acids are suitable for 3D printing. Because of their malleability, they are significantly more durable than other commonly used thermoplastics like PLA and ABS. These polymers could replace other materials as the preferred choice for 3D printers. Excellent chemical resistance and mechanical qualities similar to ABS may be found in PA. It is a prospective material of choice for industrial manufacturing components because its impact resistance is substantially higher than ABS's. Additionally, the ability to absorb moisture makes it simple to post-process with spray paint and fabric dyes. Adipic acid's adaptability and robustness can be used to 3D print items with thin walls. It has a larger melting point and a low coefficient of friction, making it particularly abrasion resistant. As a result, it can be utilized to print components such as working interlocking gears. The use of polyamide in industrial 3D printing processes is projected to increase as 3D printing technology develops.
Increased infrastructure development efforts directly result from the world's population expansion, particularly in developing nations like Brazil, China, and India. In turn, this increases demand for wires, cables, paints, and coatings. For some water-based acrylic emulsions, adipic acid is employed as a difunctional crosslinking agent in paints and coatings. Thus, it is anticipated that the rapidly expanding population will increase the demand for adipic acid during the projected period. Adipic acid consumption is anticipated to increase throughout the projected period due to changing lifestyles and rising disposable income driving up demand for convenience foods, which in turn is driving up demand for nylon 6,6 resin in the food packaging sector. Thus, driving the adipic acid market revenue.
The adipic acid market segmentation, based on application, includes polyurethane, nylon 6,6 fiber, nylon 6,6 resin, adipate esters, and others. In 2022, nylon 6,6 fiber dominated the market. The sector will probably advance due to the rising demand for nylon 6,6 fibers in the automobile industry. The population is predicted to grow in economies like China, India, and Brazil, along with the expanding automobile sector.
January 2022: BASF planned to establish a new hexamethylene diamine (HMD) factory in Chalampé, France. BASF's annual HMD production capacity will be increased to 260,000 metric tonnes with the opening of the new plant. Production is set to begin in 2024. Furthermore, BASF plans to increase polyamide 6.6 production in Freiburg, Germany, beginning in 2022.
Additionally, in 2022, the polyurethane sector witnessed the fastest growth rate. As demand for building insulation rises due to environmental concerns, more polyurethane demand is projected throughout the forecast period. Since the potential environmental impact of building developments is rather large, sustainability in building developments is a broad field that involves many actions that must be performed in the initial construction stages.
The adipic acid market segmentation, based on end-use, includes automotive, electrical & electronics, packaging & consumer goods, building & construction, textile, and others. The automotive category dominated the market in the forecast period. The automotive sector predominantly uses nylon 66, made from adipic acid, for its exceptional mechanical, temperature-resistant, and lightweight qualities. To create polyamide 6.6 pellets and other polyamides or polymers for engineering plastics and polyurethane for flexible and semi-rigid foams, adipic acid is mostly employed as a monomer. However, the packaging & consumer goods sector acquired a significant market share. Processed meat (sausage, bacon), cheese and other dairy products smoked salmon, and partially prepared microwaveable meals are a few of these goods and products. Furthermore, recycling these films is simple. During the projection period, the restriction on single-use plastics is anticipated to increase market share.
Figure 1: Adipic Acid Market, by End-Use, 2022 & 2032 (USD billion)
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
By Region, the report provides market insights into North America, Europe, Asia-Pacific and Rest of the World. The Asia-Pacific Adipic Acid Market area will dominate this market. The massive demand for the market is largely driven by the expanding automotive, textile, and electronics sectors in important nations like China, India, etc. As of October 2022, 3.18 billion meters of textile for clothing were produced in China. Every month, more than three billion m of materials are produced. Hence having a favorable effect on market expansion. Moreover, China’s adipic acid market held the largest market share, and the Indian adipic acid market was the fastest-growing market in the Asia-Pacific region.
Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: ADIPIC ACID MARKET SHARE BY REGION 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
North American adipic acid market accounts for the second-largest market. The automotive industry in the United States and Canada uses more nylon 6, 6 fiber, driving up demand in North America. Most people in the U.S. and Canada commute using their vehicles rather than taking public transportation. In the U.S., drivers had a combined 278,063,737 personal and commercial automobiles registered to them in 2021. Moreover, U.S.A. adipic acid market held the largest market share, and the Canadian adipic acid market was the fastest-growing market in the region.
Europe’s adipic acid market is expected to grow at the fastest CAGR from 2023 to 2032. To encourage the sales of electric vehicles, European legislators are creating enticing regulations like subsidies. In Germany, for instance, the environmental bonus criterion has been extended to e-vehicle owners until the end of 2025, and the subsidy paid for electric vehicles has doubled. The subsidy amount has also increased in France. In the meantime, several nations, like Sweden, have established an exemption from car tax for owners of electric vehicles. Further, the German adipic acid market held the largest market share, and the UK adipic acid market was the fastest-growing market in the European region.
Leading market players are investing heavily in research and development to expand their product lines, which will help the adipic acid market, grow even more. Market participants are also undertaking various strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the adipic acid industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the adipic acid industry to benefit clients and increase the market sector. In recent years, the adipic acid industry has offered some of the most significant medical advantages. Major players in the adipic acid market, including Solvay S.A., BASF SE, BioAmber Inc, INVISTA, and others, are attempting to increase market demand by investing in research and development operations.
Genomatica creates biobased process technologies that improve the economics, sustainability, and performance of widely used chemicals produced from alternative feedstocks. Genomatica's technology has received significant praise; it has commercialized procedures for the chemicals butanediol (for biodegradable plastics and garments) and butylene glycol (cosmetics and personal care), and it is working on bio-nylon. In March 2022, Genomatica and Asahi KaseiOpen, a Japan-based diversified manufacturer, established a strategic agreement to commercialize renewably-sourced nylon 6,61 derived from Genomatica's bio-based HMD (hexamethylenediamine, commonly abbreviated as HMDA) building block. Asahi Kasei anticipates that this collaboration will assist it in meeting its goal of becoming the first to market with environmentally friendly nylon 6,6 for the electronics and automotive industries, using plant-based HMD, and achieving its corporate sustainability goals.
BASF SE, an abbreviation for its former name Badische Anilin und Sodafabrik, is a European multinational corporation and the world's largest chemical producer. The company's headquarters are in Ludwigshafen, Germany. BASF has subsidiaries and joint ventures in over 80 countries and runs six integrated manufacturing sites and 390 other manufacturing locations throughout Europe, Asia, Australia, the Americas, and Africa. In January 2020, BASF SE announced the acquisition of Solvay's polyamide division to expand BASF's polyamide capabilities with innovative and well-known products such as Technyl. This acquisition has also enabled BASF to give even better-engineered plastics solutions to its customers, such as autonomous driving and e-mobility.
August 2022: Toray Industries, Inc. stated that it had created the world's first 100% bio-based adipic acid, a raw material for nylon 66 (polyamide 66), from inedible biomass sugars. This resulted from a proprietary synthesis approach that combined the company's microbial fermentation expertise with chemical purification technology that relied on separation membranes.
November 2020: Huabei oil field company in China has been focusing on developing environmentally friendly adipic acid processing since typical petrochemical processing of adipic acid from KA oil using nitric acid as the catalyst pollutes the environment severely. The researchers pioneered the production of adipic acid from nonrenewable feedstocks.
August 2023: Lanxess announced that it will be investing in the development of new adipic acid production technologies. The company is aiming to develop more sustainable and efficient production methods.
September 2023: Celanese announced that it will be partnering with Anellotech to develop a new process for producing adipic acid from biomass. The new process is expected to be more sustainable and efficient than traditional production methods.
| Report Attribute/Metric | Details |
| Market Size 2023 | USD 6.19 billion |
| Market Size 2024 | USD 6.50 billion |
| Market Size 2032 | USD 9.11 billion |
| Compound Annual Growth Rate (CAGR) | 4.32% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Market Competitive Landscape, Revenue Forecast, Growth Factors, and Trends |
| Segments Covered | Application and End-Use Industry |
| Geographies Covered | Asia Pacific, North America, Europe, and the Rest of the World |
| Countries Covered | The U.S., Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Solvay S.A, BASF SE, BioAmber Inc, and INVISTA. |
| Key Market Opportunities | Increased innovation and research & development initiatives |
| Key Market Dynamics | Increasing use of nylon 66 in the automotive industry |
Adipic Acid Market Highlights:
Frequently Asked Questions (FAQ) :
The adipic acid market size was prized at USD 6.19 Billion in 2023.
During the forecast period, 2024–2022, the worldwide adipic acid market is anticipated to expand at a CAGR of 4.32%.
Asia Pacific had the major market share of the Adipic Acid Market
The key players in the market are Solvay S.A., BASF SE, BioAmber Inc, and INVISTA.
The nylon 66 category dominated the market in 2023.
The automotive category had the largest share of the Adipic Acid Market
Leading companies partner with us for data-driven Insights.
Kindly complete the form below to receive a free sample of this Report
Research Analyst Level I In her 3 years of experience in the market research field, she has handled critical cross-domain projects. she has an in-depth knowledge of market estimation & analysis, problem-solving, primary as well as secondary research, and team management.she holds an engineering degree and is an mba professional from a well-known university, capable of evaluating the market and competitive conditions. an exceptional strategist with excellent communication skills and a passion for delivering cutting-edge & practical insights for the market. proficient in multi-tasking, and can successfully deal with competing demands, while maintaining complete confidentiality. generated business through active client and project development, networking, and high-quality responses. her knowledge and skills have helped in making solid business decisions, securing funding from investors, and avoiding business failures.
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
