Adipic Acid Market Size, Share, Growth Analysis, By Application(Polyurethane, nylon 6, 6 fiber, nylon 6), By End Use Industry(Automotive, electrical & electronics, packaging & consumer products, building construction), By Raw Material(Cyclohexanol, Cyclohexanone), By Region - Industry Forecast 2024-2031

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.