Raipur, Aug. 22, 2022 (GLOBE NEWSWIRE) -- Stratview Research, a global market research firm provides a comprehensive perspective of the competitive market as well as an in-depth supply chain analysis to assist businesses in identifying major changes in industry practices. It also covers current and emerging trends, industry forecast, and challenges present in the market.
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What is Adipic Acid?
Adipic Acid, better known as Hexanedioic acid has a white crystalline structure. Carbon, oxygen, and hydrogen together result in Adipic acid that has the chemical formula C6H10O4. Talking about the properties of the acid, it is corrosive in nature and also flammable. Also, the substance is biodegradable and can cause irritation in the lungs when inhaled.
Adipic acid is used mostly in nylon preparation along with other products such as polyurethanes and more. It is mostly used in manufacturing blood bags and food wraps. Also, it is highly used in the pharmaceutical as well as in the automotive industry. Adipic acid can be produced from a number of options such as waste agricultural products, acetylene, and benzene.
Market Highlights
The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
According to the report, the 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.
Growth factors
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.
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Market Segmentation
The Adipic Acid Market report, by Stratview Research has been segmented by the following –
- Application Type – Polyamide/Nylon 66, Polyurethanes, Adipic/Adipate Esters, and Others.
- Material Type - Engineering Plastics & Fibers
- Region - North America, Europe, Asia-Pacific, and Rest of the World
Segment-wise Analysis
By Application Type
Based on the application type, 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.
By Region
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.
Key players
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)
- Shandong Hongye Chemical Company, Ltd.
Why invest in this report?
The report has been compiled using a variety of analytical methodologies and contains analysed data on the key players, market scope, and much more. The researchers at Stratview Research have studied the historic and present situation of the top players in the Adipic Acid Market. The report includes highly reliable and vital data that can be beneficial for the key decision-makers and strategists.
Key Features: The report covers –
- Market Size and Revenue
- Production rate
- Covid19 impact on the market
- Import/export data
- Supply/demand analysis
- Market share, CAGR, etc.
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About Stratview Research –
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