Global Synthetic and Bio Based Adipic Acids
Market Report
2024
Synthetic and Bio Based Adipic Acids market size is USD 10251.2 million in 2024 andwill expand at a compound annual growth rate (CAGR) of 6.10% from 2024 to 2031.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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According to Cognitive Market Research, the global Synthetic and Bio Based Adipic Acids market size is USD 10251.2 million in 2024 andwill expand at a compound annual growth rate (CAGR) of 6.10% from 2024 to 2031.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global Synthetic and Bio Based Adipic Acids Market Sales Revenue 2024 | $ 10251.2 Million |
Global Synthetic and Bio Based Adipic Acids Market Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 6.1% |
North America Synthetic and Bio Based Adipic Acids Market Sales Revenue 2024 | $ 4100.48 Million |
North America Synthetic and Bio Based Adipic Acids Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 4.3% |
Europe Synthetic and Bio Based Adipic Acids Market Sales Revenue 2024 | $ 3075.36 Million |
Europe Synthetic and Bio Based Adipic Acids Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 4.6% |
Asia Pacific Synthetic and Bio Based Adipic Acids Market Sales Revenue 2024 | $ 3075.36 Million |
Asia Pacific Synthetic and Bio Based Adipic Acids Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 4.6% |
South America Synthetic and Bio Based Adipic Acids Market Sales Revenue 2024 | $ 512.56 Million |
South America Synthetic and Bio Based Adipic Acids Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 5.5% |
Middle East and Africa Synthetic and Bio Based Adipic Acids Market Sales Revenue 2024 | $ 205.02 Million |
Middle East and Africa Synthetic and Bio Based Adipic Acids Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 5.8% |
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Market Split by Application |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Key Qualitative Information Covered |
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Synthetic and Bio Based Adipic Acids Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
Synthetic and bio-based adipic acids are organic compounds primarily used as precursors in the production of various polymers, including nylon 6,6. It is commercially produced from petrochemical sources or renewable biomass. Synthetic adipic acid is traditionally derived from cyclohexane through a two-step process involving nitric acid oxidation, while bio-based adipic acid is produced from renewable sources such as biomass or bio-based feedstocks through fermentation or chemical processes. Expansion of the footwear market as polyurethane is used in the production of footwear is expected to fuel the market growth of synthetic and bio-based atopic acid.
The growing demand for nylon from the automotive industry is predominantly fueling the market growth of adipic acid. Nylon 6, 6 is widely used in the manufacturing of lightweight automobile components such as intake manifolds, as these materials have better resistance which makes them ideal substitutes for metals. Thus, the growing demand for nylon 6.6 from the automotive industry is majorly driving the market growth of synthetic and bio-based adipic acid.
In January 2020, BASF SE announced the acquisition of Solvay's polyamide business in order to expand BASF's polyamide capabilities with innovative and well-known products such as Technyl. This acquisition has also enabled BASF to provide its customers with even better engineering plastics solutions, such as autonomous driving and e-mobility.
(Source:https://www.basf.com/in/en/media/news-releases/global/2020/01/p-20-114.html)
The synthetic and bio-based adipic acids market is being driven by the increasing demand from various end-use industries. Adipic acid is primarily used in the production of nylon 6,6, which is extensively utilized in the automotive, textile, and packaging industries. The automotive industry, in particular, is a major consumer of nylon 6,6 for manufacturing components such as airbags, tire cords, and automotive hoses. With the growth of the automotive sector, especially in emerging economies, the demand for nylon 6,6 and thus adipic acid is expected to rise significantly. Additionally, the textile industry, which uses nylon 6,6 in the production of fibers and fabrics, is another key driver of the market. The versatility of adipic acid in these industries, coupled with the growing demand for high-performance materials, is expected to continue driving the market growth.
Another key driver for the synthetic and bio-based adipic acids market is the increasing shift towards sustainable and bio-based products. Adipic acid is traditionally produced from petrochemical sources, which are non-renewable and contribute to environmental issues such as greenhouse gas emissions. In response to this, there is a growing preference for bio-based adipic acid, which is derived from renewable feedstocks such as biomass or bio-waste. Bio-based adipic acid offers several environmental benefits, including reduced carbon footprint and lower dependency on fossil fuels. Additionally, bio-based adipic acid aligns with the growing consumer demand for sustainable products, driving manufacturers to adopt bio-based alternatives.
One of the key restraints in the synthetic and bio-based adipic acids market is the environmental impact associated with their production and use. Adipic acid is primarily produced from petrochemical sources, which can lead to the release of greenhouse gases and other pollutants. This environmental impact has raised concerns among regulatory bodies and environmental groups, leading to stricter regulations and standards for adipic acid production. Compliance with these regulations can increase production costs and limit the market growth.
The Covid-19 pandemic has had a significant impact on the synthetic and bio-based adipic acids market. The global economic slowdown caused by the pandemic led to disruptions in supply chains, reduced industrial activities, and decreased demand for consumer goods. This resulted in a decline in the demand for adipic acids, as they are primarily used in the production of nylon 6,6, which is used in various industries including automotive, textiles, and consumer goods. The restrictions imposed to curb the spread of the virus also affected the production and transportation of adipic acids, further impacting the market. However, the market is expected to recover as economic activities resume and the demand for nylon 6,6 and other adipic acid-based products picks up.
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The competitive landscape of the synthetic and bio-based adipic acids market is characterized by the presence of several key players striving to gain a competitive edge through strategic initiatives such as mergers and acquisitions, collaborations, and product innovations.
In January 2022, INVISTA (China) Investment Co., Ltd. and China Pingmei Shenma Group, held a ceremony to commemorate the signing of a suite of agreements that establish a strategic relationship creating multiple opportunities for synergies.
In June 2023, CSSC Power (Group) Co., Ltd. (CPGC) and BASF have formed a solid cooperation to expedite the progress of onboard carbon capture (CO2 capture) systems for commercial maritime applications. CPGC has always been committed to providing green, low-carbon solutions for the shipping industry.
Top Companies Market Share in Synthetic and Bio Based Adipic Acids Industry: (In no particular order of Rank)
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According to Cognitive Market Research, North America dominated the market in 2024 and accounted for around 40% of the global revenue. North America's dominance in the Synthetic and Bio-Based Adipic Acids market can be attributed to several key factors. Firstly, the region has a well-established chemical industry with advanced manufacturing capabilities and technological expertise, allowing for efficient production of adipic acid. Additionally, North America has a strong focus on sustainability and environmental regulations, driving the demand for bio-based adipic acids as a more eco-friendly alternative to traditional synthetic adipic acids. Furthermore, the region's robust automotive and textile industries, which are major consumers of adipic acid, contribute to its dominant position.
Asia Pacific's rapid growth in the Synthetic and Bio-Based Adipic Acids market can be attributed to several key factors. Firstly, the region's expanding population and rising disposable incomes are driving demand for various consumer goods, including textiles, automotive parts, and electronics, all of which require adipic acid in their manufacturing processes. Additionally, Asia Pacific is home to several emerging economies, such as China and India, which are witnessing rapid industrialization and urbanization, further fueling demand for adipic acid.
The current report Scope analyzes Synthetic and Bio Based Adipic Acids Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only. To learn more about geographical trends request the free sample pages. Contact US!
According to Cognitive Market Research, the global Synthetic and Bio Based Adipic Acids market size was estimated at USD 10251.2 Million out of which North America held the major market of more than 40% of the global revenue with a market size of USD 4100.48 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.3% from 2024 to 2031. In the North America region, the synthetic and bio-based adipic acids market is witnessing steady growth, driven by several factors. The region is a significant consumer of adipic acids, primarily due to the presence of key industries such as automotive, textiles, and packaging. Segmentation analysis reveals that the plastics industry is a dominant application segment for synthetic and bio-based adipic acids in North America. In conclusion, the North America synthetic and bio-based adipic acids market is poised for growth, supported by the region's robust industrial base and increasing demand for sustainable materials.
Country Analysis
According to Cognitive Market Research, the global Synthetic and Bio Based Adipic Acids market size was estimated at USD 10251.2 Million out of which Europe market of more than 30% of the global revenue with a market size of USD 3075.36 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.6% from 2024 to 2031. In the Europe region, the synthetic and bio-based adipic acids market is showing promising growth, driven by various factors unique to the region. Europe has a strong emphasis on sustainability and environmental consciousness, leading to a significant demand for bio-based adipic acids. Segmentation analysis indicates that the plastics industry is a major consumer of synthetic and bio-based adipic acids in Europe. The demand for high-performance plastics, particularly in automotive and packaging applications, is driving the market growth. In conclusion, the Europe synthetic and bio-based adipic acids market is poised for substantial growth, driven by the region's commitment to sustainability and stringent environmental regulations.
According to Cognitive Market Research, the global Synthetic and Bio Based Adipic Acids market size was estimated at USD 10251.2 Million out of which Asia Pacific is the fastest growing market of more than 30% of the global revenue with a market size of USD 3075.36 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.6% from 2024 to 2031. In the Asia Pacific region, the synthetic and bio-based adipic acids market is experiencing rapid growth, driven by several key factors unique to the region. Segmentation analysis reveals that the textile industry is a major consumer of synthetic and bio-based adipic acids in Asia Pacific. The demand for nylon fibers, used extensively in the textile industry, is a key driver of market growth. In conclusion, the Asia Pacific synthetic and bio-based adipic acids market is poised for substantial growth, driven by the region's economic development, increasing industrialization, and shifting consumer preferences.
According to Cognitive Market Research, the global Synthetic and Bio Based Adipic Acids market size was estimated at USD 10251.2 Million out of which Latin America market of more than 5% of the global revenue with a market size of USD 512.56 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.5% from 2024 to 2031. In the Latin America region, the synthetic and bio-based adipic acids market is influenced by a variety of factors that shape its growth trajectory. Segmentation analysis reveals that the textile industry is a dominant consumer of synthetic and bio-based adipic acids in Latin America. The demand for nylon fibers, which are extensively used in the textile sector, is a key driver of market growth. In conclusion, the Latin America synthetic and bio-based adipic acids market shows promise for growth, driven by the region's industrial development and increasing consumer demand.
According to Cognitive Market Research, the global Synthetic and Bio Based Adipic Acids market size was estimated at USD 10251.2 Million out of which Middle East and Africa market of more than 2.00% of the global revenue with a market size of USD 205.02 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.8% from 2024 to 2031. In the Middle East and Africa (MEA) region, the synthetic and bio-based adipic acids market is driven by several factors that contribute to its growth. Segmentation analysis reveals that the coatings industry is a dominant consumer of synthetic and bio-based adipic acids in the MEA region. The increasing construction activities and infrastructure development projects in the region drive the demand for coatings, thereby fueling the market for adipic acids. In conclusion, the MEA synthetic and bio-based adipic acids market shows promise for growth, driven by the region's industrial development and increasing consumer demand. However, market players need to navigate the region's unique challenges, such as geopolitical tensions and regulatory complexities.
Global Synthetic and Bio Based Adipic Acids Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Synthetic and Bio Based Adipic Acids Industry growth. Synthetic and Bio Based Adipic Acids market has been segmented with the help of its Type, Application Product, and others. Synthetic and Bio Based Adipic Acids market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
According to Cognitive Market Research, the dominant category is synthetic adipic acid. Synthetic adipic acid is widely used in various industries, including textiles, automotive, and packaging, due to its cost-effectiveness and established manufacturing processes. The dominant position of synthetic adipic acid is driven by its availability in large quantities from petrochemical sources, making it a preferred choice for many applications.
The fastest-growing category in the synthetic and bio-based adipic acids market is bio-based adipic acid. Bio-based adipic acid is experiencing rapid growth due to increasing environmental concerns and the shift towards sustainable alternatives. Bio-based adipic acid is derived from renewable feedstocks such as biomass or bio-waste, offering a more environmentally friendly option compared to synthetic adipic acid.
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According to Cognitive Market Research, the dominant category is coatings. Coatings represent a significant application area for adipic acids due to their use in paints, varnishes, and other protective coatings. The dominance of coatings in the market is driven by the wide range of industries that rely on coatings for surface protection and aesthetic enhancement. Additionally, the growth of the construction and automotive industries has increased the demand for coatings, further boosting the dominance of this application category.
The fastest-growing category in the synthetic and bio-based adipic acids market is plasticizers. Plasticizers are additives used to increase the flexibility and durability of plastics, making them essential in industries such as automotive, construction, and packaging. The growth of the plasticizers segment is driven by the increasing demand for flexible and lightweight materials in various applications.
The above Graph is for representation purposes only. This chart does not depict actual Market share. Please purchase the Synthetic and Bio Based Adipic Acids market report 2024 Edition by contacting our team.
According to Cognitive Market Research, the dominant category is nylon 6,6 fiber. Nylon 6,6 fiber is a type of synthetic fiber widely used in textile and industrial applications due to its excellent strength, durability, and chemical resistance. Adipic acids are a key raw material in the production of nylon 6,6 fiber, making this category dominant in the market. The dominance of nylon 6,6 fiber is driven by the growing demand for high-performance textiles in various industries, including automotive, apparel, and industrial applications.
The fastest-growing category in the synthetic and bio-based adipic acids market is polyurethanes. Polyurethanes are versatile polymers used in a wide range of applications, including foam insulation, coatings, adhesives, and sealants. Adipic acids are used as a raw material in the production of polyurethanes, where they contribute to the durability and flexibility of the final product. The growth of the polyurethanes segment is driven by the increasing demand for sustainable and high-performance materials in construction, automotive, and furniture industries.
Senior Research Analyst at Cognitive Market Research
An optimistic Senior Research Analyst with years of experience in competitive assessment and business consulting. A seasoned professional and subject-matter expert (SME) in the Automobile & Transportation vertical.
With a work experience of over 10+ years in the market research and strategy development. I have worked with diverse industries, including FMCG, IT, Telecom, Automotive, Electronics and many others. I also work closely with other departments such as sales, product development, and marketing to understand customer needs and preferences, and develop strategies to meet those needs.
I am committed to staying ahead in the rapidly evolving field of research and analysis. This involves regularly attending conferences, participating in webinars, and pursuing additional certifications to enhance my skill set. I played a crucial role in conducting market research and competitive analysis. I have a proven track record of distilling complex datasets into clear, concise reports that have guided key business initiatives. Collaborating closely with multidisciplinary teams, I contributed to the development of innovative solutions grounded in thorough research and analysis.
Disclaimer:
Type | Synthetic Adipic Acid , Bio-Based Adipic Acid |
Application | Plasticizers , Lubricants , Coatings , Others |
Product | Nylon 6, 6 Fiber , Nylon 6, 6 Resin , Polyurethanes , Adipate Esters , Others |
List of Competitors | Invista , Rhodia , BASF , Ascend Performance Materials, Shangdong Haili (Bohui) , Liaoyang Petrochemical , Asahi Kasei, Radici |
This chapter will help you gain GLOBAL Market Analysis of Synthetic and Bio Based Adipic Acids. Further deep in this chapter, you will be able to review Global Synthetic and Bio Based Adipic Acids Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Chapter 2 North America Market Analysis
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Qualitative Analysis for the North America Market: North America Synthetic and Bio Based Adipic Acids Market Trends North America Synthetic and Bio Based Adipic Acids Technological Road Map North America Synthetic and Bio Based Adipic Acids Market Drivers North America Synthetic and Bio Based Adipic Acids Market Restraints North America Synthetic and Bio Based Adipic Acids Market Opportunity Market Attractiveness Analysis COVID – 19 Impact Analysis PESTEL Analysis Porter’s Five Forces Analysis Product Life Cycle Industrial Chain Analysis
You can purchase only the Executive Summary North America Market (2019 vs 2024 vs 2031)
Chapter 3 Europe Market Analysis
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Chapter 4 Asia-Pacific Market Analysis
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Chapter 5 South America Market Analysis
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Chapter 6 Middle East and Africa Market Analysis
You can purchase only the Executive Summary Middle East and Africa Market (2019 vs 2024 vs 2031)
Only Available with Corporate User License
Chapter 7 Top 10 Countries Analysis
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Type Analysis 2019 -2031, will provide market size split by Type. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Type Analysis 2019 -2031
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Chapter 11 Market Split by Application Analysis 2019 -2031
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Chapter 12 Market Split by Product Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Synthetic and Bio Based Adipic Acids market
Chapter 13 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Synthetic Adipic Acid have a significant impact on Synthetic and Bio Based Adipic Acids market? |
What are the key factors affecting the Synthetic Adipic Acid and Bio-Based Adipic Acid of Synthetic and Bio Based Adipic Acids Market? |
What is the CAGR/Growth Rate of Plasticizers during the forecast period? |
By type, which segment accounted for largest share of the global Synthetic and Bio Based Adipic Acids Market? |
Which region is expected to dominate the global Synthetic and Bio Based Adipic Acids Market within the forecast period? |
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