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

Adipic Acid Market size was valued at USD 8.1 billion in 2019 and is poised to grow from USD 8.5 billion in 2023 to USD 12.2 billion by 2031, growing at a CAGR of 4.9% in the forecast period (2024-2031).

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.