Adipic Acid Market - Industry Analysis, Size and Forecast, 2023

Adipic-Acid
The adipic acid market is growing with the growth of end user industries including footwear, electronics and automotive in India and China and it is assumed to remain a remarkable factor driving the Asia-Pacific adipic acid market. The European and North American markets are highly driven by innovation and technology. Europe emerged as the second largest market for adipic acid. North America follows Europe in the adipic acid market share. RoW adipic acid market is driven by the growing automobile industry largely in Argentina and Brazil.
Adipic acid is an essential raw material for the commercial production of Nylon 6.6 that is the most important polyamides for industrial purpose. It is conventionally produced using various products derived from petroleum including benzene, phenol and cyclohexane.
Volatility in the price of raw materials, especially benzene and the rising prices of crude oil are a major restraint to the synthetic adipic acid market. Also, stringent environmental regulations considering adipic acid usage are acting as a restraint in the global adipic acid market. These concerns have lead to the shift of demand from synthetic to bio-based adipic acid. Bio-based adipic acid also provides economical feasibility compared to the synthetic adipic acid.
The opportunity lies in the market with bio-based adipic acid which has shown feasibility and is presently in its progress stage. Bio-based adipic acid is assumed to be useful for nearly all applications for which synthetic adipic acid is used currently. Bio-based adipic acid producers have an opportunity to replace the synthetic adipic acid market.
Some of the key players in the industry include Ascend Performance Materials, Shandong Haili Chemical Industry Company Ltd., BASF SE, INVISTA, Radici Partecipazioni SpA, Solvay, Asahi Kasei Corporation, Lanxess, PetroChina Liaoyang Petrochemical and Shandong Hongye Chemical Company, Ltd among others.

Comments

Post a Comment

Popular posts from this blog

Composites Testing Market by Manufacturers, Regions, Type and Application Analysis Opportunities by 2023

Image
The global  composite testing market  is witnessing strong growth on account of growing usage of composites in aerospace and defense, transportation and wind energy industries, and strict composites testing standards.Composites are required to adhere to proprietary testing standards of the manufacturers and the strict composites testing standards to maintain durability and ensure safety. Request sample copy of report here :  https://www.psmarketresearch.com/market-analysis/composites-testing-market/report-sample The global composites testing market has been segmented by testing method, product type, application and region. On the basis of testing method, the market has been segmented into destructive and nondestructive testing methods. On the basis of product type, the global market has been segmented into continuous fiber composites, discontinuous fiber composites, polymer matrix composites and ceramic matrix composites. Based on application, the global compos...
Read more

Global Industrial Enzyme Market 2023 - Rising Awareness and Analysis

Image
Some of the drivers behind the growing demand of global industrial enzymes market include increase in demand of consumer goods, surge in demand for biofuel, increase research and development investment of industrial enzymes, and need of cost reduction and resource optimization in the production process of bakery products, animal feed, cleaning agents and others. Request sample copy of report here :   https://www.psmarketresearch.com/market-analysis/industrial-enzymes-market/report-sample Industrial enzymes can be used in several environmental friendly industrial purposes, as they are highly efficient, selective, accelerate and speed up reactions by forming transition state complex with their substrate, which reduces the activation energy of the reaction. The increased government initiatives and increasing pressure for environmental sustainability are the key drivers for the growth of the biofuel market. The rapid depletion of fossil fuels and global warming caused by their...
Read more

Global Advanced Material Market Analysis, Size, Application Analysis, Regional Outlook, Competitive Players by 2023

Image
The global  advanced material market  is driven worldwide by increasing numbers of end users and growing global shift towards new technology, while deft balancing between performance and cost. The opportunities witnessed in the global advanced material market include reasonable and environmentally proficient housing, information connectivity and communication, mobility, and increasing demand for health care. Request to Get the Sample Report:   https://www.psmarketresearch.com/market-analysis/advanced-material-market/report-sample The advance materials surpass conventional material with superior properties, such as weight, strength, durability and elasticity. Automobile sector is emphasizing on light weight and more energy efficient vehicles. In 2014, North America accounted for the largest share in the global advanced material market. The demand in the region is driven by the aerospace and automotive industries. The U.S. led the demand for advanced materi...
Read more