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Adipic Acid Market to Grow at a CAGR of 3.74% by 2035 | ChemAnalyst
The Adipic Acid market will likely experience a significant rise and reach approximately 4000 thousand tonnes in 2035, at an expected CAGR of 3.74% during the forecast period by 2035.
Adipic Acid has a chemical formula of (CH2)4(COOH)
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The Adipic Acid market globally is primarily driven by its usage for manufacturing Nylon 6,6. Due to its lightweight nature and durability, Nylon 6,6 is employed in multiple industries such as textile and automotive. The most vital application of Nylon 6,6 lies in the manufacturing components of automobiles, such as engine coverings, air intake pipes, airbag containers, and glass-reinforced polymers. This, in turn, reduces the overall weight by 7-8%, thus reducing carbon dioxide emissions. This application is anticipated the robust growth of the Adipic Acid market in the upcoming years. Additionally, the demand for paints and coatings is expected to increase, which would likely lead to a growth in the adipic acid market in the forecast period. These industries are expected to see further expansion due to rapid development, construction of homes and commercial complexes in the forecast period.
Major Players are BASF SE, Chongqing Huafon Chemical Co., Ltd., Shandong Haili Chemical Industry Co., Ltd, INVISTA, Shandong Hualu Hengsheng Chemical Co., Ltd., Shenma Industrial Co., Ltd., China National Petroleum Corporation, Zhejiang Shuyang Chemical Co.,Ltd, Tangshan Zhonghao Chemical Co., Ltd., LANXESS, and Radici Partecipazioni SpA.