Adipic Acid Market Estimated to Be Worth $7,539.2 Million By 2019 – Report By MarketsandMarkets
The adipic acid market volume is estimated to be 3,495.6 thousand tons by 2019, signifying a firm annualized growth rate of about 2.8% from 2014 to 2019. http://www.marketsandmarkets.com/Market-Reports/adipic-acid-269.html
(PRWEB) July 04, 2014
The report, “Adipic Acid Market by Application (Polyamide 66, Polyurethane, Adipic Esters, & Others), by Material Type (Engineering Plastics & Fibers) & by Geography (North America, Europe, Asia-Pacific, & ROW) – Global Trends & Forecast to 2019,” analyzes the adipic acid market with respect to market drivers, opportunities, and trends in different regions.
Browse 119 market data tables, 27 figures spread through 217 slides and in-depth TOC on “Adipic Acid Market – Global Trends & Forecast to 2019”.
The adipic acid market is majorly used as an intermediate of polyamide 66. The adipic acid is also used in polyurethane and adipic esters to manufacture various end products. The Asia-Pacific region dominates this market with its growing demand for adipic acid in the polyamide 66 for different applications; especially, the automotive, electrical & electronics, and other industrial and commercial goods applications. The Asia-Pacific and North America markets are estimated to show a rising growth in the next five years with the allied industries expected to stabilize the overall business need in the respective regions.
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R&D is a key part of this market. The manufacturing companies, associations, and end-product manufacturers infuse high investments for future advancements and technology modifications to produce bio-based adipic acid as precursor with similar or competitive properties to replace metals and match the new demands coming from various end-user industries.
Asia-Pacific is the largest region, both in terms of volume and value, followed by Europe and North America. China, U.S., India, and other countries of Latin America and Russia are expected to continue as successful adipic acid markets. The key players in the Asia-Pacific adipic acid market are Asahi Kasei Corporation (Japan), PetroChina Liaoyang Petrochemical (China), Shandong Haili Chemical Industry Company Ltd. (China), and Shandong Hongye Chemical Company, Ltd. (China).
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The Eastern and Central European nations and the emerging South-East Asian and Latin American nations that host the global events would supplement the growth of adipic acid industry. An increase in auto sales, proposals for improvement of infrastructure, and rising housing market in emerging economies will drive the polyamide 66 market, eventually driving the adipic acid market. The demand for polyurethane in garments to household moldings, and also use of adipate esters as a solvent in paints and coatings is expected to rise in the future, and thus increase the demand for adipic acid.
The adipic acid demand, in terms of value and volume, depicts the current and future projections according to the parallel economic and industrial outlook. This analysis covers important developments, expansions, agreements, and mergers and acquisitions of the leading global companies.
The estimated market value of adipic acid in 2012 was $5,884.6 million, and is projected to reach $7,539.2 million by 2019, growing at a CAGR of 3.7%, from 2014 to 2019. The high demand across the industries, such as electrical & electronics, consumer goods & appliances, and automotive will increase the overall adipic acid consumption in the polyamide 66 industry.
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