Adipic Acid Market Outlook - Supply and Demand Analysis 2024-2032

Adipic Acid Market

Adipic acid, also known as hexanedioic acid, is one of the most important monomers in the polymer industry. It is obtained via the nitric acid (HNO3) oxidation of a mixture of cyclohexanol–cyclohexanone, referred to as KA (ketone–alcohol) oil. The primary application of adipic acid is the production of nylon 6-6, where it acts as a comonomer with hexamethylenediamine. It is also used in the preparation of other polymers like polyurethanes.

Global Supply/Demand Outlook

The global adipic acid market stood at a volume of around 4,350 KT in 2023. The market is projected to grow at a CAGR of 4.32% between 2024 and 2032 to reach a volume of about 6,380 KT by 2032. The market benefits from the growing use of adipic acid across diverse industries. Serving as a monomer for polyamide 6,6 and other polyamides, the market is fueled by the development of the field of engineering plastics, textile fibres, and industrial yarn. Polyamide 6,6 production holds more than 50% market share, and the segment is anticipated to remain the largest in the forecast period. Adipic acid is also used for producing flexible and semi-rigid foams. Furthermore, the chemical serves as an intermediate for organic synthesis in the field of coatings, adhesives, sealants and elastomers. The demand for coatings and adhesives is further supported by growing construction projects and increasing demand for building materials globally.

The global capacity of adipic acid was about 5,300 KT in the year 2023. It is estimated to reach 7,850 KT in 2032. The Asia Pacific region holds the major share of adipic acid capacities with more than 50% market share. North America and Europe follow closely behind. In 2023, the plant capacity utilisation of adipic acid remained 84%.

Key Market Players

BASF SE is the leading adipic acid producer globally. As of 2020, the company produced nearly 720,000 metric tons of adipic acid annually at its facility in Chalampé, France; Ludwigshafen, Germany; and Onsan, South Korea. For leading manufacturers like BASF, Europe remains a key market for adipic acid and PA6,6 businesses, and also caprolactam and PA6 businesses.

Other major manufacturers of adipic acid are Lanxess AG, Asahi Kasei Corporation, Ascend Performance Materials, Invista, Domo Chemicals, Tangshan Zhongao Chemical Co., Ltd., Radizi Partecipazioni S.P.A, Sumitomo Chemical Co., Ltd., and Liaoyang Tianhua Chemical Co., Ltd.

Key Questions Answered in the Report:

• What are the high-growth opportunities and markets for adipic acid by application and region?

• Which segments and regions are projected to grow at a faster pace and why in the adipic acid market?

• What is the nameplate capacity of adipic acid by region from 2018 to 2032?

• How does the plant capacity utilisation of adipic acid vary by region between 2018 and 2032?

• Who are the major players in the adipic acid market by capacity and region?

• What major plant shutdowns and expansions have occurred in the adipic acid market in the last year and the last quarter?

• What major plant shutdowns and expansions are planned in the adipic acid market over the next year and quarters?

• How did export and import dynamics of adipic acid vary by region in terms of value between 2018 and 2023?

• How did export and import dynamics of adipic acid vary by region in terms of volume between 2018 and 2023?

• What impacts have shutdowns, force majeure events, and plant closures had on demand and pricing of adipic acid?

• What are the environmental considerations and regulatory impacts affecting the adipic acid market?

• What technological innovations are having an impact on the production and application of adipic acid?

• What are the key trends and innovations in the adipic acid market?

• What are the challenges and opportunities faced by adipic acid manufacturers?

• What are the potential risks and barriers to entry for new players in the adipic acid market?

• What strategic investments and expansions have major players made in the adipic acid market?

• How are geopolitical factors and international trade policies affecting the global adipic acid market?

• What are the price trends for adipic acid, and how are they expected to change?

• How does the supply chain of adipic acid operate, and what are its key components?