Global Adipic Acid Market To Witness High Growth by 2020

Adipic Acid Market

Adipic Acid Market is estimated to go through momentous growth globally. This industry is estimated to reach around USD 7, 538 million till 2020. This acid is produced using petroleum derived products like phenol, benzene and cyclohexane. Adipic acid which is generally used in production of Nylon is also manufactured in Automobile industry. Adipic acid is majorly used for Nylon fibres, Nylon Resin, paints and coatings. Cyclohexane accounts for over 80% of Adipic acid which is produced globally. Due to shift in hydrocarbons market, phenol used a primarily for production of adipic acid is replaced by cyclohexane. Polyutherane is considered to be one of the rapid growing applications in thermal insulation.

The fastest growing market for Adipic acid to be is Polyutherane with expected CAGR of 5.2% from 2015 to 2020. Growing demand for Nylon fibres in automobile industry is the major reason for rise in demand of adipic acid market in recent years. Nations like Russia, China, India and Brazil is expected to counter the positive impact in adipic acid market over next five years. North American market is expected to hit USD over 1.6 billion by 2019 with CAGR of 6.2% from 2015 to 2020.Adipic acid is also used as the gelling aid and flavorant in food industry. With increasing concern regarding environmental protection, Synthetic acid has now been focused towards the production of Bio based Adipic acid. These bio based adipic acid are produced using Glucose, which are environmental friendly. Bio based adipic acid require low capital investment as compared to Synthetic Adipic acid.

Asia Pacific Market, currently the leading regional market for Adipic acid is projected to be fastest growing market. Growth of electronics market in China is motivating the market growth of Adipic Acid in Asia Pacific. After Asia Pacific, Europe is the largest market for the Adipic acid, Use of Synthetic adipic acid in Europe, is affecting the Adipic acid market in China. Bio based Adipic acid holds around 16% lower utilities cost and around 30% lower manufacturing cost as compared to the Petroleum based adipic acid.

Sara James is Market Research Analyst, Conducting in-depth data analyses using traditional and advanced methods Build a detailed database for the understanding of the target market and industry.

Acetic Acid Market Will Be Valued At More Than USD 13 Billion Till 2022

Hexa Research

Load According to a recent study conducted by Hexa Research, global Acetic Acid Market will be valued at more than $13 billion in 2022. Growing demand for applications like Purified Terephthalic Acid (PTA) and Vinyl Acetate Monomer (VAM) will contribute to this growth. PTA is increasingly being consumed for manufacturing polyester, which is an important constituent of the textile and packaging industries. PTA is expected to witness the fastest growth with a CAGR of more than 4.9% from 2015 to 2022. The total global acetic acid demand for PTA was more than 2,450 kilo tons in 2014, which is likely to rise to more than 3,750 kilo tons in 2020.

VAM is utilized in the manufacture of chemicals like EVA and EVAC. There is growing consumption of these chemicals in the solvents and adhesives industry, leading to rising demand for VAM. Demand for acetic acid in VAM was more than 3,500 kilo tons in 2014. This application segment is expected to grow at a CAGR of more than 3.9% from 2015 to 2022. VAM will be increasingly demanded by developing economies like China, India and Brazil, consequently leading to growth of acetic acid market in future.

 

Hexa Research observed that China led the global acetic acid market in 2012 with a share of more than 39% of volumes. A strong manufacturing base and possible expansion of the same in future will contribute to China retaining its market leadership. Asia Pacific followed China in terms of market share, with key demand emerging from India and Japan. The acetic acid industry in Asia is likely to grow at a CAGR of more than 10% from 2015 to 2022.

Hexa Research identifies Celanese, BP, DuPont, Eastman Chemicals, BASF, Wacker Chemie and Jiangsu Sopo (Group) Co., Ltd., among others, to be the key participants in the global acetic acid market. The industry showcases a fragmented nature with several manufacturers operating at varied levels of capacities.

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Global Adipic Acid Market 2017-2201 Forecast Research Report

About Adipic Acid, Adipic acid is a dicarboxylic acid with a white crystalline structure. It is produced from benzene by first converting into ketone-alcohol oil and then oxidizing it with nitric acid. It is partially soluble in water but is completely soluble in alcohol and acetone. It is also produced by various other processes such as carbonylation of butadiene, phenol-based production, and bio-based production. In 2015, more than 90% of the adipic acid was produced by the cyclohexane-based production process. Bio-based production of adipic acid is expected to have high demand during the forecast period.

 

Analysts forecast the Global Adipic Acid Market to Grow at a CAGR Of 3.10% During the Period 2017-2021.

 

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Covered in this report

The report covers the present scenario and the growth prospects of the global adipic acid market for 2017-2021. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:

  • APAC
  • Europe
  • North America
  • ROW

 

Global Adipic Acid Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

 

Browse Full Report with TOC: http://www.orbisresearch.com/reports/index/global-adipic-acid-market-2017-2021

 

Key vendors

  • Asahi Kasei
  • BASF
  • INVISTA
  • LANXESS
  • Solvay

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Other prominent vendors

  • Other prominent vendors
  • Ascend Performance Materials
  • PetroChina Liaoyang Petrochemical
  • Radici Partecipazioni
  • RENNOVIA
  • Shandong Haili Chemical Industry
  • Shandong Hongye Chemical Group
  • Verdezyne

 

Market driver

  • Growing demand for adipic acid from automotive industry.

 

Market challenge

  • Volatility in raw material prices.

 

Market trend

  • Shift in manufacturing facilities from developed to developing regions.

 

Key questions answered in this report

What will the market size be in 2021 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the key vendors?
What are the strengths and weaknesses of the key vendors?

Table of Contents
PART 01: Executive summary
PART 02: Scope of the report

PART 03: Research Methodology

PART 04: Introduction

PART 05: Market landscape

PART 06: Market segmentation by application

PART 07: Geographical segmentation

PART 08: Decision framework

PART 09: Drivers and challenges

PART 10: Market trends

PART 11: Vendor landscape

PART 12: Key vendor analysis

PART 13: Appendix

 

List of Exhibits 

Exhibit 01: Different types of adipic acid production

Exhibit 02: Detailed analysis of production process of adipic acid

Exhibit 03: Global adipic acid market 2016 and 2021 (thousand metric tons)

Exhibit 04: Market forecast: Global petroleum resin market 2016-2021

Exhibit 05: Five forces analysis

Exhibit 06: Global adipic acid market by application 2016

Exhibit 07: Global adipic acid market by application 2021

Exhibit 08: Global adipic acid market for nylon 6,6 fibers 2016 and 2021 (thousand metric tons)

Exhibit 09: Market forecast: Global adipic acid market for nylon 6,6 fibers 2016-2021

Exhibit 10: Global adipic acid market for nylon 6,6 resins 2016 and 2021 (thousand metric tons)

Exhibit 11: Market forecast: Global adipic acid market for nylon 6,6 resins 2016 and 2021

Exhibit 12: Global adipic acid market for polyurethanes 2016 and 2021 (thousand metric tons)

Exhibit 13: Market forecast: Global adipic acid market for polyurethanes 2016-2021

Exhibit 14: Global adipic acid market for adipic-adipate esters 2016 and 2021 (thousand metric tons)

Exhibit 15: Market forecast: Global adipic acid market for adipic-adipate esters 2016 and 2021

 

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