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Adipic Acid Market Growth Driven by Propelled Demand for the Lightweight Vehicles Manufacturing in the Automobile Industry

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Palli Prapul
Adipic Acid Market Growth Driven by Propelled Demand for the Lightweight Vehicles Manufacturing in the Automobile Industry

Companies across the globe are focusing more on creating high quality, lightweight, durable, and high absorption capacity fibers that can endure harsh environmental conditions. There has been a substantial demand for long-lasting and chemically resilient fibers for the manufacturing of automotive parts. Nylon is one such material which is a predominant intermittent product of adipic acid. The lightweight feature of nylon has made it an eminent material used in the production of lightweight vehicles. According to the “International Organization of Motor Vehicle Manufacturers”, the number of lightweight vehicles produced worldwide was around 19.5 million in 2017 and it reached around 20.6 million in 2018. Increasing demand from the automobile industry for the manufacturing of lightweight vehicles spur the growth of the adipic acid market. The global adipic acid market size is valued at $6.11 billion as of 2018 and is anticipated to grow with a CAGR of 3.97% throughout the forecast period 2019-2025.The report covers Adipic Acid Market Size by material type and application, Adipic Acid Market share by top 5 companies and also the market share by start-ups during the forecast period

Adipic acid is also known as hexanedioic acid and it is an aliphatic dicarboxylic acid which is widely used in the preparation of cyclopentanone. Adipic acid undergoes ketonization process to give cyclopentanone, is a common precursor to fragrances such as jasmine. In adipic acid to cyclopentanone conversion process barium hydroxide is reacted with adipic acid at elevated temperatures. Adipic acid is used in adipic esters, polyamide 66, polyvinyl chloride (PVC) resins, and polyurethane (PU) foams applications. Adipic acid dihydrazide is a chemical and is used as a hardener and crosslinking agent for epoxy resins. It has several other applications such as paints and coatings, paper, and plastics manufacturing, which in turn, lead the growth of the adipic acid market around the globe. Di-2-Ethylhexyl Adipate (DOA) is another widely used diester of adipic acid. It is commonly used as a hydraulic acid and plasticizer.

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Factors Driving Adipic Acid Market

As a Tanning agent in the Flourishing Leather Industry

To improve leather quality adipic acid is frequently used in the leather tanning applications. As a tanning agent it is used to stabilize the collagen fibers thereby reduces the chances of biodegradation of the material. The use of adipic acid in the pre-treatment process reduces the overall time consumption in leather production, and produce potentially less harmful residues and require less treatment when compared to traditional processes, which in turn, led the growth of the adipic acid market around the globe.

Growing Adoption in Cleaning Applications

Adipic acid has a wide range of applications in cleaning processes, ranging from hard-surface cleaners and bleaches to laundry and dishwashing detergents. Adipic acid in the laundry detergents form water-soluble salts can prevent re-deposition of magnesium and calcium salts onto fabrics. The chelating properties of adipic acid are esteemed in dish-washing detergents and hard-surface cleaners formulations, which are widely for use in bathrooms and kitchens. A rise in adoption of the adipic acid as a cleaning agent in a variety of applications led the demand for its market growth globally.

A rise in Demand as an Excipient in Tabletting

In tablet manufacturing, adipic acid is used as an excipient. It is used as a lubricant, filler, and binder in tablets. To obtain a pH-independent release for both basic and acidic drugs adipic acid is incorporated into controlled-release formulation matrix tablets. In the absence of an element like adipic acid, the drug gets released into the body at once as soon as it hits the stomach. Using adipic acid control the release of the drugs over a period of time which helps someone avoid having to take the drug over shorter time intervals.

Propelled growth as a Flavorant in the Food Industry

Adipic acid is used as a food flavorant, ingredient, and gelling aid. In baking powders, it is used as an acidulant. Adipic acid is commonly used in drink mixes and powdered food to provide sweet flavor. In bottled drinks, the synthetic version of the adipic acid is used which gives the bubbly fizz for the drinks. There is a huge demand for flavorants in the food industry, which in turn, trigger the growth of the adipic acid market.

Bio-Based Adipic Acid

Bio-based adipic acid is a new trend in the adipic acid market. Fluctuations in the prices of the raw materials, specifically benzene which is majorly used in the production of the synthetic adipic acid and stringent government regulations considering the adipic acid usage have led to the shift of demand from synthetic acid to bio-based adipic acid. Increased demand for environment-friendly processes of chemical manufacturing owing to the harmful effects of petroleum-based processes on the environment are the other factors influencing the growth of the bio-based adipic acid around the world.

APAC Holding Major Share of the Adipic Acid Market

APAC generated approximately 44% of the global revenues in the adipic acid market in 2018. Growing textile and automobile industries in this region are the major factors for market growth. For instance, According to the India Brand Equity Foundation, overall textile exports from India were valued at $39.2 billion in 2018 and is expected to reach $82 billion by 2021. Availability of cost-effective labor and low initial investments in this region are the significant factors influencing the adipic acid manufacturers to set up their manufacturing units. The wide adoption of the lightweight vehicle parts in the automobile industry which are made of adipic acid intermediate products has a direct impact on driving dynamics, agility, and fuel consumption. Increasing need to reduce energy consumption, growing concerns towards energy efficiency, soaring demand from the automotive sector further mounting the growth of the adipic acid industry in this region.

The application segment that will be creating the most lucrative opportunities for the adipic acid market is the nylon 66 fiber. This application segment is projected to grow at a CAGR of 4.8% through to 2025. Used primarily in the electrical and electronics industry for its temperature, mechanical resistant, and electric insulating properties. It can be extremely fire retarded with halogen-free products. Nylon 66 is used in fibers for carpets and textiles manufacturing applications.

The Major Players in the Adipic Acid Market:

The prominent players in the adipic acid market include DuPont Chemicals, Radici Group, Asahi Kasei Corporation, BASF SE, Invista, Ascend Performance Materials, Solvay, Petrochina Liaoyang Petrochemical, and Wego Chemical & Mineral Corp.

Mergers and acquisitions are the other key strategies adopted by the players to stay ahead of their competitors. Asahi Kasei Corporation, a Japanese chemical company announced acquisition with Sage Automotive Interiors, a U.S. based manufacturer of automotive interior material, on July 19, 2018. The automotive interiors are manufactured by Lamous microfiber of Asahi Kasei which has high-end properties like durability and resilient will further demand the growth of the automotive market. Such joint ventures aid the market players to expand their geographical boundaries and accentuate their footprint into the global adipic acid market.

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Related Reports:

A. Automotive Material Market for Light weighting
https://www.industryarc.com/Report/18126/automotive-material-market-for-lightweighting.html

B. Nylon Resins Market
https://www.industryarc.com/Report/1302/nylon-resins-market-analysis.html

About IndustryARC:

IndustryARC is a Research and Consulting Firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food and Beverages, Information Technology, and Life sciences and Healthcare.

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Name: Venkat Reddy
Email: [email protected]
Organization: IndustryARC
Phone: +1-614-588-8538

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