Press Releases

Global Market for Adipic Acid to Reach 4.5 Billion Kilotons by 2023

Expansion Attributed to Increased Interest from China and India

February 08, 2019

WELLESLEY, Mass., Feb. 08, 2019 – Due to demand from various end-use applications such as automotive, electrical and electronics, and shoe soles, the global market for adipic acid is set for continued growth, according to a recent BCC Research report.

In 2018, the global market for adipic acid was worth 3,920.6 kilotons. In a recent report, BCC Research estimates that this amount will reach 4,535.9 kilotons by 2023, indicating a compound annual growth rate (CAGR) of 3.0%, according to the report “Global Markets for Adipic Acid.”

Industry leaders mentioned in this report include Arkema (ARKAY), Evonik (EVKIF), Lanxess (LNXSF), Sumitomo Chemical Co. Ltd. (SSUMY), Koninklijke DSM N.V. (PHG), Mitsui Chemicals Inc.(MITSY) and The Dow Chemical Co (DWDP).

Research Highlights

  • Asia-Pacific is the largest regional market for adipic acid and has high growth potential, with a CAGR through 2023 projected at 4.0%.
  • The polyamide 6,6 intermediate application of adipic acid currently has the strongest opportunity for adipic acid manufacturers around the globe. In 2017, polyamide 6,6 intermediate application accounted for 59.7% of the global adipic acid market and have a CAGR through 2023 of 3.8%.
  • Among end-user applications, the automotive application is one of the most prominent segments of the global adipic acid market.

“The adipic acid market has grown significantly during the past few years and is expected to grow at a more rapid pace in the next five years.,” the report notes. “The market has continued to expand, and new technological developments and industry changes have also taken place.”

Editors/reporters requesting analyst interviews should contact Eric Surber at press@bccresearch.com.

Global Markets for Adipic Acid( CHM055B )
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