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 Insights

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).

Growing industrialization and expanding use of synthetic polymers in numerous industries have led to growth in the adipic acid market on a global scale. A significant portion of the global production of adipic acid is used in the production of nylon. Nylon used in industries is created when adipic acid and hexamethylene diamine react. Because of its remarkable mechanical strength and electrical and thermal insulation, nylon 66, which is manufactured from adipic acid, is utilized in a variety of industries, including electronics, textiles, vehicles, and others. The demand for adipic acid is anticipated to increase soon due to the expanding number of applications for nylon in numerous industries. Large firms now focus their efforts on creating fibers that are durable, strong, and able to survive severe conditions. In the food and beverage industry, adipic acid is also used as a flavoring component and a gelling agent.

To ensure that basic or acidic medicinal components are delivered in a controlled manner, it is also utilized in a number of medication tablets. However, fluctuating raw material prices and stringent regulations on environmental externalities produced during adipic acid production, especially the emission of nitrous oxide, may operate as market restrictions. Moreover, the use of bio-adipic acid in many industries to lessen negative environmental effects has contributed significantly to the growth of the global adipic acid market. In place of conventional polyurethane, which harms the environment in electronics, cars, and buildings, bio-based polyurethane, made from bio-adipic acid, is growing in popularity.

US Adipic Acid Market  is poised to grow at a sustainable CAGR for the next forecast year.

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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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