Adipic Acid Market Size, Share, Industry Trends and Forecast to 2033
This report provides a comprehensive analysis of the Adipic Acid market from 2023 to 2033, covering market trends, size and growth forecasts, industry insights, segmentation, and regional analysis to help stakeholders make informed decisions.
| Metric | Value |
|---|---|
| Study Period | 2023 - 2033 |
| 2023 Market Size | $6.20 Billion |
| CAGR (2023-2033) | 4.8% |
| 2033 Market Size | $10.00 Billion |
| Top Companies | BASF SE, Invista, Hodogaya Chemical Co., Ltd., Nippon Shokubai Co., Ltd., Ube Industries, Ltd. |
| Last Modified Date | 15 Nov 2024 |
Adipic Acid Market Report (2023 - 2033)
Adipic Acid Market Overview
What is the Market Size & CAGR of Adipic Acid market in 2023?
Adipic Acid Industry Analysis
Adipic Acid Market Segmentation and Scope
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Adipic Acid Market Analysis Report by Region
Europe Adipic Acid Market Report:
Europe's Adipic Acid market is valued at $1.83 billion in 2023, anticipating growth to $2.95 billion by 2033. Regulatory policies promoting greener chemicals are leading to higher consumption of bio-based Adipic Acid, which is becoming more relevant in various applications.Asia Pacific Adipic Acid Market Report:
In 2023, the Asia Pacific region holds a market value of $1.16 billion, which is projected to grow to $1.87 billion by 2033. The growth is attributed to the rising demand for nylon in textiles and automotive applications, coupled with increased consumer electronics production.North America Adipic Acid Market Report:
North America shows a strong market value of $2.30 billion in 2023, projected to grow to $3.71 billion by 2033. This region is expected to experience significant growth due to a surge in automobile production and increasing investments in sustainable chemical manufacturing.South America Adipic Acid Market Report:
The South American Adipic Acid market is valued at $0.15 billion in 2023, expected to reach $0.25 billion by 2033. The market is driven by an increasing demand in the automotive and chemical sectors alongside expansion in food additives.Middle East & Africa Adipic Acid Market Report:
The Middle East and Africa market is estimated at $0.76 billion for 2023 and is expected to expand to $1.23 billion by 2033. Growth in this region is supported by an increase in construction activities and investment in the petrochemical industry.Request a custom research report for industry.
Adipic Acid Market Analysis By End Use
Global Adipic Acid Market, By End Use Market Analysis (2023 - 2033)
Adipic Acid is extensively used in various applications including automotive, textiles, food additives, and construction. The automotive segment leads the market, accounting for about 67.02% share in 2023. In terms of size, this segment values at $4.16 billion and is expected to grow to $6.70 billion by 2033. The food additives segment is also significant, valued at $1.46 billion in 2023, growing to $2.35 billion by 2033.
Adipic Acid Market Analysis By Application
Global Adipic Acid Market, By Application Market Analysis (2023 - 2033)
Applications of Adipic Acid include its use in the production of polymers and food additives. The polymer production segment leads with a size of $4.16 billion in 2023 and is expected to reach $6.70 billion by 2033. Food additives have a current market size of $1.46 billion projected to grow to $2.35 billion during the same period, showing rising consumer interest in processed goods.
Adipic Acid Market Analysis By Grade
Global Adipic Acid Market, By Grade Market Analysis (2023 - 2033)
The Adipic Acid market is segmented into commercial grade and bio-based grade products. Commercial grade, representing 83.89% market share, is valued at $5.20 billion in 2023 and is expected to grow to $8.39 billion by 2033. Bio-based grade products reflect a more sustainable approach with a market value of $1.00 billion in 2023, projected to reach $1.61 billion by 2033.
Adipic Acid Market Analysis By Source
Global Adipic Acid Market, By Source Market Analysis (2023 - 2033)
The primary sources for Adipic Acid production include synthetic processes and biological sources. Currently, synthetic methods dominate the market. However, there is a noticeable increase in the adoption of biological methods driven by sustainability initiatives and eco-friendly chemical production requirements.
Adipic Acid Market Analysis By Distribution Channel
Global Adipic Acid Market, By Distribution Channel Market Analysis (2023 - 2033)
The distribution channels for Adipic Acid are focused on direct sales and retail. Direct sales hold a substantial market share of 83.89% valued at $5.20 billion in 2023, and projected to increase to $8.39 billion by 2033. Retail channels are also growing, essential for reaching end consumers.
Adipic Acid Market Trends and Future Forecast
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Global Market Leaders and Top Companies in Adipic Acid Industry
BASF SE:
A leading chemical company, BASF SE produces a wide range of chemicals including Adipic Acid, focusing on sustainable production processes and innovative applications.Invista:
A significant player in the nylon industry, Invista manufactures Adipic Acid primarily for synthetic fibers and engineering plastics while emphasizing quality and technological improvement.Hodogaya Chemical Co., Ltd.:
Specializes in chemical manufacturing, including Adipic Acid, with a commitment to sustainable practices and enhancing its global presence.Nippon Shokubai Co., Ltd.:
Offers a range of chemical products, Nippon Shokubai focuses on innovation in producing Adipic Acid for various applications.Ube Industries, Ltd.:
A comprehensive supplier of chemicals, Ube Industries is involved in the production of Adipic Acid and other polymers, with a focus on advancements in chemical engineering.We're grateful to work with incredible clients.
