- Adipic acid is primarily utilized as a subsidiary of polyamide 66. It is also utilized in adipic esters and polyurethanes to produce different consumer products. The worldwide adipic acid market was predicted at around USD 4, 898 million in 2010. It is likely to attain about USD 8, 063 million in 2018. The market is projected to register a CAGR of around 6 percent during 2013 to 2018. Adipic acid finds a key application in manufacturing as the most frequently utilized dicarboxylic acid.
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The prime application of the adipic acid market involvesnylon manufacture. Nylon is utilized in compound substances. These substances are majorly utilized in the manufacture of vehicle components. Other sectors in which adipic acid is used are paints and coatings, low temperature lubricants, food preservatives, polyurethane resins, synthetic fibers and plastic additives. Accentuating demand for adipic acid across these sectors is anticipated to drive the sales of the adipic acid market through the forecast phase.
Accelerated demand for nylon resins and nylon fiber in primary consumer industries, such as footwear and automotives is also estimated to be a significant factor, steering the demand for the market. Moreover, expansion in the sectors of footwear and automobiles, primarily in BRIC countries is anticipated to escalate the demand for the adipic acid market in the coming years. However, volatility in the costs of unprocessed materials, together with stern policies in Europe and the United Statesof America on account of rising ecological concerns is projected to hamper the market.
The worldwide adipic acid market is bifurcated in view of two categories. These are applications and geographical regions.
The application sectors of the adipic acid market are inclusive of nylon 6, 6 resins; nylon 6, 6 fibers;adipate esters;polyurethanes; and others. The high purity grade form of this acid is utilized for producing nylon. The lower purity grade form is utilized for generating polyurethanes.
Polyurethanes surfaced as the subsequent biggest application sector of the adipic acid market in 2013.They captured more than 7 percent of the utilized market volume that year. Polyurethanes are also estimated to be the most rapidly developing sector during 2014 to 2020.
They are likely to rise at around 5.4 percent CAGR during this phase.
The geographical regions analyzed under the adipic acid market are Europe, rest of the world, Asia Pacific and North America. Asia Pacific was the biggest market in 2013. The region leaded the worldwide market both with regard to worth and volume. Europe and North America chased Asia Pacific and landed second and third places respectively. North America and Asia Pacific are projected to display imperativeadipic acid market growthsin the five years ahead.
The United States of America, China, India, Russia, and other nations of Latin America are predicted to remainprosperous regions for the adipic acid market in the future. India and China contribute majorly to the income of Asia Pacific. These nations would also experience expansion in their market’s consumer industries.
Information Source: Grand View Research
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