The adipic acid market is growing with the growth of end user industries including footwear, electronics and automotive in India and China and it is assumed to remain a remarkable factor driving the Asia-Pacific adipic acid market. The European and North American markets are highly driven by innovation and technology. Europe emerged as the second largest market for adipic acid. North America follows Europe in the adipic acid market share. RoW adipic acid market is driven by the growing automobile industry largely in Argentina and Brazil.
To Browse Full Report Visit Here: https://www.psmarketresearch.com/market-analysis/adipic-acid-market
Adipic acid is an essential raw material for the commercial production of Nylon 6.6 that is the most important polyamides for industrial purpose. It is conventionally produced using various products derived from petroleum including benzene, phenol and cyclohexane. However, phenol has been eliminated as a raw material for producing adipic acid due to shift in hydrocarbons market, while, cyclohexane was being primarily used as a substitute is a mainstream product now for the globally produced adipic acid. Adipic acid with lower purity grade is used for manufacturing polyurethane while high purity grade is used for manufacturing nylon. Manufacturers have been trying to develop new techniques to produce adipic acid. Manufacturing companies have made investments in technology for future advancement to produce bio-based adipic acid.
The global adipic acid market can be categorized on the basis of end users as nylon 6,6 fiber; nylon 6,6 resin; polyurethane; adipate esters and among some other applications.
Production of nylon is the main application of adipic acid. These materials are generally used in the manufacture of automobile components. Adipic acid also finds application in other sectors that include paints, plastic additives, food additives, polyurethane resins, low-temperature lubricants and synthetic fibers.
Browse For Related Research Visit Here: https://www.psmarketresearch.com/industry-report/chemicals-and-materials
Increasing commercial use of bio-adipic acid is a major trend being witnessed in this market owing to increased manufacturer and consumer understanding about carbon footprint reduction. Adoption of bio-adipic acid by various industries has increased due to increased demand for environment-friendly processes of chemical manufacturing owing to the harmful effects of petroleum-based processes on the environment. One of the major drivers in the market is automotive industry which is witnessing an increase in application of nylon 6,6, the main application segment of adipic acid. Nylon 6,6 is being used in automobiles extensively to reduce total weight which increases fuel efficiency.
Volatility in the price of raw materials, especially benzene and the rising prices of crude oil are a major restraint to the synthetic adipic acid market. Also, stringent environmental regulations considering adipic acid usage are acting as a restraint in the global adipic acid market. These concerns have lead to the shift of demand from synthetic to bio-based adipic acid. Bio-based adipic acid also provides economical feasibility compared to the synthetic adipic acid.
About P&S Market Research
P&S Market Research is a market research company, which offers market research and consulting services for various geographies around the globe. We provide market research reports, industry forecasting reports, business intelligence, and research based consulting services across different industry/business verticals.
As one of the top growing market research agency, we’re keen upon providing market landscape and accurate forecasting. Our analysts and consultants are proficient with business intelligence and market analysis, through their interaction with leading companies of the concerned domain. We help our clients with B2B market research and assist them in identifying various windows of opportunity, and framing informed and customized business expansion strategies in different regions.
Manager – Client Partner
347, 5th Ave. #1402
New York City, NY – 10016
Toll-free: +1-888-778-7886 (USA/Canada)