Adipic acid is a dicarboxylic acid that is one of the most commonly utilized chemicals in industry. It is a carbon, hydrogen, and oxygen-based organic molecule. Adipic acid is one of the principle raw materials used for manufacturing nylon, polyurethane, plasticizers, and other industrial polymers. It also has a wide range of applications in the textile industry and as a flavoring and gelling aid in the food industry. It is also used for manufacturing lubricants.
The "Global Adipic Acid Market Analysis to 2028" is a specialized and in-depth study of the chemicals and materials industry with a special focus on the global market trend analysis. The report aims to provide an overview of the adipic acid market with detailed market segmentation by grade, application, and geography. The report provides key statistics on the market status of the leading adipic acid market players and offers key trends and opportunities in the market.
- On the basis of grade, the market is segmented into high purity adipic acid and low purity adipic acid.
- On the basis of application, the market is segmented into nylon 66, polyurethanes, adipate esters, and others.
- The global adipic acid market is expected to expand over the forecast period, owing to factors such as rising demand from various industries such as chemicals and materials, textile, automotive, food and beverages, and pharmaceuticals and nutraceuticals, among others.
- Moreover, rapidly growing building and construction industry is also driving demand for adipic acid as it is used to manufacture external panels, insulation materials, and housing electronics.
- The rapidly expanding automotive and packaging sectors are also contributing to the market growth.
- Environmental constraints on petroleum-based adipic acid, on the other hand, is expected to restrict the market's growth.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The adipic acid market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the adipic acid market in these regions.
IMPACT OF COVID-19ON ADIPIC ACID MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products.
The report covers key developments in the adipic acid market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from Adipic acid market are anticipated to lucrative growth opportunities in the future with the rising demand for adipic acid in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the adipic acid market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Asahi Kasei Corporation
- BASF SE
- Lanxess AG
- Ascend Performance Materials LLC
- PetroChina Liaoyang Petrochemical
- Radici Group
- Henan GP Chemicals Co.,Ltd
- Shandong Hongye Chemical Company, Ltd.
- BioAmber Inc
- Sumitomo Chemical Co., Ltd.
- Solvay S.A.
- Finetech Industry Ltd.
- Genomatica Inc.
- Haihang Industry Co. Ltd.
- Tractus Company Ltd.
- Shijiazhuang Guyu Chemicals Co. Ltd.
- WEGO CHEMICAL GROUP
- Japan Finechem Inc.
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.