Adipic Acid Market 2019 || Huge Growth, Restraints, Opportunities & Industry Inf
Posted by Mangesh Mahajan on July 22nd, 2019
Adipic Acid Market
INVISTA (U.S.), PetroChina Company Limited (China), Asahi Kasei Corporation (Japan), Ascend Performance Materials (U.S.), BASF SE (Germany), LANXESS (Germany), Radici Partecipazioni SpA (Italy), Solvay S.A. (Belgium), Sumitomo Chemical Co., Ltd. (Japan), BioAmber Inc (U.S.), Shandong Hongye Chemical Company, Ltd. (China) among others these are the important players covered in Adipic Acid Market.
The Global Adipic Acid Market is categorized into five regions: Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa. Among them, Asia Pacific accounted for ~33% market in 2016 and is predicted to grow at a significant CAGR over the forecast period 2017-2023 on account of the continuous expansion of automotive as well as electrical & electronics industries. The Asia Pacific adipic acid market is segmented into Japan, India, Vietnam, China, Malaysia, Taiwan, Singapore, South Korea, and Rest of Asia Pacific. Among them, China and India are predicted to remain the major contributors to the regional market growth due to growth in various end-use industries such as footwear, automotive, building & construction, and electronics.
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Market Analysis
The Asia Pacific holds the largest market for adipic acid followed by Europe and North America. Europe is estimated to witness a steady growth in the use of adipic acid on account of increasing Research & Development activities and innovations in bio-basedplastics. European countries such as the U.K, Poland, Italy, France, and Germany dominated the region in 2016 due to increasing investment in the packaging & consumer goods and automotive sector. In North America, the countries such as the U.S. and Canada are among the major contributors to the regional market growth due to rising expansion of textile and electronics industry. Latin American countries such as Brazil, Mexico, Venezuela, Peru, and Argentina are predicted to witness a strong growth on account of increasing consumer expenditure on passenger cars as well as household appliances. The Middle East & Africa is estimated to witness a moderate growth rate owing to increasing residential, commercial, and institutional construction activities specifically in the United Arab Emirates, Saudi Arabia, Turkey, Qatar, and Kuwait. Furthermore, rising disposable income has given a rise to the higher household appliances & heavy as well as light duty vehicles demand, which is likely to propel the growth of the regional market in the upcoming years.
Key Players
· INVISTA (U.S.)
· PetroChina Company Limited (China)
· Asahi Kasei Corporation (Japan)
· Ascend Performance Materials (U.S.)
· BASF SE (Germany)
· LANXESS (Germany)
· Radici Partecipazioni SpA (Italy)
· Solvay S.A. (Belgium)
· Sumitomo Chemical Co.Ltd. (Japan)
· BioAmber Inc (U.S.)
· Shandong Hongye Chemical Company Ltd. (China)
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Segmentation
The Global Adipic Acid Market is segmented on the basis of the application, end-use industries, and region. Based on the application, the market is segmented into polyurethane, nylon 6,6 fiber, nylon 6,6 resin, adipate esters, and others. Based on end-use industries, the market is categorized into automotive, electrical & electronics, packaging & consumer goods, building & construction, textile, and others. Others end-use industries include food, medical, and furniture. Based on the region, the market is segmented into Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa.
