Adipic Acid Market Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030

 

Adipic Acid Market
Adipic Acid Market 

Hexanedioic acid, also known as adipic acid, has the chemical formula (CH2)4(COOH)2. Commercially, adipic acid is created through the reaction of cyclohexanone and cyclohexanol. Polyurethane is produced using high purity adipic acid. It is widely used in home furnishing products like furniture, carpet underlays, and bedding foam. It is frequently used in cushioning materials to increase the comfort and sturdiness of furniture.

Increased infrastructure development efforts are a direct result of the world's population growth, particularly in developing nations like Brazil, China, and India. In turn, this increases demand for wires and cables as well as paints and coatings. For some water-based acrylic emulsions, adipic acid is used as a difunctional crosslinking agent in paints and coatings. Thus, it is anticipated that during the forecast period, the rapidly expanding population will increase demand for adipic acid market. Adipic acid demand is anticipated to increase over the forecast period as a result of changing lifestyles and rising disposable income driving up demand for convenience foods, which in turn is driving up demand for nylon 6, 6 resin in the food packaging sector.

Due to the high demand for adipic acid market in sectors like electrical & electronics, home appliances, textiles, Fast Moving Consumer Goods (FMCG), paints & coatings, and automotive, Europe held a dominant position in the global adipic acid market in 2021 with a revenue share of 37.80%. The market in this region is expanding as a result of improved economic conditions, government initiatives, and rising construction activity.

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