Market Overview

The market for adipic acid is expected to expand at a CAGR of more than 3% during the forecast period. Major factors driving the market studied include the growing electronics market in China and Japan, rising use in the personal care and pharmaceutical industry, etc.

  • Stringent environment regulations regarding the production process are expected to hinder the growth of the market studied.
  • Rising awareness of bio-based adipic acid is likely to act as an opportunity in the forecast period.
  • Asia-Pacific dominated the market across the globe with the largest consumption from countries such as China, Japan, etc.



Key Market Trends

Increasing Demand from the Electrical and Electronics Industry

  • Nylon 66, which is manufactured from adipic acid, is used primarily for it’s superior mechanical, temperature resistant and electric insulating properties in the electrical and electronics industry.
  • According to Japan Electronics and Information Technology Industries Association (JEITA), the global electronics industry is expected to grow more than 4% in 2019, driven by the demand for IT solution services and consumer electronics.
  • Historically, the electronics industry has seen competition between the United States and Japan, but most countries of the world are now rapidly accelerating their electronics manufacturing and electronics consumer bases like China and South Korea.
  • The above-mentioned factors are expected to contribute to the growth of the adipic acid market in the electrical & electronics segment, during the forecast period.



China to Dominate the Market in the Asia-Pacific Region

  • Globally, China has the largest defense spending in the world, after the United States. The country is planning to boost its military spending with the aim to further advance its armed forces.
  • Furthermore, Electronic products, such as smartphones, OLED TVs, tablets, etc., have the highest growth in the market in the consumer electronics segment. The demand for electronic products is projected to grow in the near future, thereby driving the adipic acid market.
  • The textile industry in China is also booming with increasing investments and government support from the 13th Five-year Plan.
  • Hence, with growth in the electrical & electronics, aerospace & defense, and textile sectors in the country, the demand for adipic acid is expected to increase in the upcoming years



Competitive Landscape

The adipic acid market is fragmented. The major companies include Asahi Kasei Corporation, BASF SE, LANXESS, DowDuPont, and Solvay, among others.

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