Global Adipic Acid Market

Adipic Acid Market Size, Share, Growth Analysis, By Application (Polyurethane, Abdicate Esters), By Industry, By Raw Material, By Region - Industry Forecast 2025-2032


Report ID: SQMIG15A2196 | Region: Global | Published Date: December, 2024
Pages: 242 | Tables: 96 | Figures: 76

Adipic Acid Market Regional Insights

Asia Pacific dominated the global market. The rise in demand can be attributed to the product's expanding use as a food ingredient and in plastic manufacturing. Due to a decline in global auto sales during the pandemic, adipic acid consumption decreased. However, because of the increased need for pharmaceutical and personal care items, the pandemic has opened up opportunities for market growth.

China produces more than half of the world's adipic acid, making it the leading country in the world. The increase in demand for adipic acid has contributed to the rise in local nylon 6,6 production. Additionally, with more than 42% of the world's plasticizer consumption in 2019, China is the greatest producer of plastic in the world.

Europe held a dominant position in the global adipic acid market in 2021 due to the high demand for adipic acid in industries such as electrical & electronics, home appliances, textiles, Fast Moving Consumer Goods (FMCG), paints & coatings, and automotive. Furthermore, improved economic conditions, government initiatives, and rising construction activities are propelling the growth of the regional market.

North America is a major supply hub for engineered polymers, making it a possible destination for adipic acid. The demand for adipic acid in North America was estimated to be around 858.6 kilotons in 2015, and it is expected to grow at a rate of 2.6% over the forecast period. The market in Middle East and Africa is anticipated to have significant growth because of rising product demand for low-temperature lubricants.

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Adipic Acid Market size was valued at USD 8.5 Billion in 2023 and is poised to grow from USD 8.92 Billion in 2024 to USD 12.8 Billion by 2032, growing at a CAGR of 4.9% during the forecast period (2025-2032).

To create eco-friendly adipic acid for the end consumers, industry participants are constantly innovating and engaging in a number of mergers and acquisitions. In order to meet the needs of consumers in the global adipic acid market, key players are purchasing attractive raw materials to create innovative products. 'Solvay (Belgium) ', 'BASF (Germany) ', 'Ashland (United States) ', 'Evonik Industries (Germany) ', 'LyondellBasell (Netherlands) ', 'INEOS (Switzerland) ', 'Mitsui Chemicals (Japan) ', 'Sumitomo Chemical (Japan) ', 'Toray Industries (Japan) ', 'Huizhou Zhongkai Chemical (China)'

The packaging and consumer products sectors' rapid modernization and ongoing expansion would accelerate the market's growth pace. Growth will be aided by increased use of high-density plastic, improved lifestyles, and rising demand for sturdy furniture. The requirement to improve the quality of processed end-products as well as the growing demand for clean air and water are anticipated to drive the market ahead.

The demand for adipic acid in building elements including outside panels, insulation, and housing electronics is anticipated to increase rapidly with the growing construction sector. The expanding automotive and packaging sectors also fuel market expansion.

Asia Pacific dominated the global market. The rise in demand can be attributed to the product's expanding use as a food ingredient and in plastic manufacturing. Due to a decline in global auto sales during the pandemic, adipic acid consumption decreased. However, because of the increased need for pharmaceutical and personal care items, the pandemic has opened up opportunities for market growth.

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Global Adipic Acid Market

Report ID: SQMIG15A2196

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