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Adipic Acid Market Share To Reach USD 8.99 Billion By 2027 – Reports And Data

The global adipic acid market is expected to reach USD 8.99 Billion by 2027, according to a new report by Reports and Data. Adipic acid finds substantial application in the production of nylon-66, which is deployed in the automotive industry for use in engine covers, air intake manifolds, tires, airbag containers, and headlamp covers, among various others…

The post Adipic Acid Market Share To Reach USD 8.99 Billion By 2027 – Reports And Data first appeared on News Degree | Hub for Latest and Trending News from Around the Globe.

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The global adipic acid market is expected to reach USD 8.99 Billion by 2027, according to a new report by Reports and Data. Adipic acid finds substantial application in the production of nylon-66, which is deployed in the automotive industry for use in engine covers, air intake manifolds, tires, airbag containers, and headlamp covers, among various others interior and exterior automotive parts. An increasing emphasis on reduction of vehicular weight to increase fuel-efficiency is expected to drive the demand for nylon in the upcoming years. Moreover, nylon is suitable for high-performance applications in automobiles, such as mechanical strength, wear & abrasion, chemical & temperature resistance, flexibility, moldability, and ease of processing. Thus, the increasing demand for nylon-66, in turn, would drive the growth of the adipic acid market.

Rapid growth of the electronics industry is likely to spur the market demand in the forecast period. In the electrical & electronics applications, nylon-66 is used where specific tests (such as GWIT, UL94) need to be passed. Nylon-66 is flame-retardant and is commercially available as non-halogenated & halogenated FR solutions. Furthermore, the polymer finds applications in the industry where there is an escalating demand for high-temperature resistance and thin designs owing to miniaturization.

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Key participants include:

Asahi Kasei Corporation
Ascend Performance Materials
Invista
BASF SE
Petro China Company Limited
Radici
Lanxess AG
Rhodia
Sumitomo Chemical Co. Ltd.
Dow Chemical Company

Adipic acid is generally added as the main acid constituent in bottled drinks to impart a bubbly fizz as well as to give a tart taste to fruit juice. The organic acid finds usage in several powdered food and drink mixes to deliver a sweet flavor. Additionally, adipic acid lets jam, jelly, and gelatin to jiggle while holding their shape. The acid adds texture to certain types of cheese and serves as a leavening agent in baking powder, baked goods, and cake mixes. Food oil producers add adipic acid to their edible oils to prolong the time it takes for bottled oils to turn into rancid.

Further key findings from the report suggest

  • By raw materials, cyclohexane contributed to the largest market share in 2018 and is expected to grow at a rate of 3.7% in the forecast period. The selective oxidation of cyclohexane is a significant industrial reaction because its oxidation products cyclohexanol and cyclohexanone (KA-oil) are precursors to adipic acid.
  • By application, nylon-66 fibers and engineering resins held the largest market share in 2018 and is projected to grow at a rate of 4.9% in the forecast period. This is due to a high demand for nylon-66 in various applications owing to its properties such as high tensile strength, excellent abrasion resistance, and higher melting point, among others.
  • By industry verticals, the automotive industry dominated the market in 2018 and is likely to have a CAGR of 4.1% in the forecast period.
  • The market in the Asia Pacific region held the largest market share in 2018 and is estimated to have a growth rate of 5.0% in the forecast period. The market dominance of the APAC region is owing to the growth of the end-user industries such as the automotive, electrical & electronics, and textile industry, among others, in the region.

For the purpose of this report, Reports and Data have segmented the global adipic acid market on the basis of raw materials, application, industry verticals, and region:

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Raw Materials Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)

  • Cyclohexane
  • Cyclohexanol/Cyclohexanone (KA oil)
  • Others

Application Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)

  • Nylon 66 Fibers & Engineering Resins
  • Polyurethanes
  • Adipate Esters
  • Others

Industry Verticals Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)

  • Automotive
  • Electrical & Electronics
  • Food & Beverages
  • Textile
  • Cosmetics
  • Medical
  • Others

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Regional Outlook (Volume, Kilo Tons; 2018-2028 and Revenue, USD Million; 2018-2028)

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • MEA

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About Reports and Data

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.

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The post Adipic Acid Market Share To Reach USD 8.99 Billion By 2027 – Reports And Data first appeared on News Degree | Hub for Latest and Trending News from Around the Globe.

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