Adipic
Acid Market is estimated to go through momentous growth globally. This industry is
estimated to reach around USD 7, 538 million till 2020. This acid is produced
using petroleum derived products like phenol, benzene and cyclohexane. Adipic
acid which is generally used in production of Nylon is also manufactured in
Automobile industry. Adipic acid is majorly used for Nylon fibres, Nylon Resin,
paints and coatings. Cyclohexane accounts for over 80% of Adipic acid which is
produced globally. Due to shift in hydrocarbons market, phenol used a primarily
for production of adipic acid is replaced by cyclohexane. Polyutherane is
considered to be one of the rapid growing applications in thermal insulation.
The fastest growing market for Adipic acid to be is Polyutherane with
expected CAGR of 5.2% from 2015 to 2020. Growing demand for Nylon fibres in
automobile industry is the major reason for rise in demand of adipic acid
market in recent years. Nations like Russia, China, India and Brazil is
expected to counter the positive impact in adipic acid market over next five
years. North American market is expected to hit USD over 1.6 billion by 2019
with CAGR of 6.2% from 2015 to 2020.Adipic acid is also used as the gelling aid
and flavorant in food industry. With increasing concern regarding environmental
protection, Synthetic acid has now been focused towards the production of Bio
based Adipic acid. These bio based adipic acid are produced using Glucose,
which are environmental friendly. Bio based adipic acid require low capital
investment as compared to Synthetic Adipic acid.
Browse Details of Report @ http://www.hexaresearch.com/research-report/adipic-acid-industry/
Asia Pacific Market, currently the leading regional market for Adipic
acid is projected to be fastest growing market. Growth of electronics market in
China is motivating the market growth of Adipic Acid in Asia Pacific. After
Asia Pacific, Europe is the largest market for the Adipic acid, Use of
Synthetic adipic acid in Europe, is affecting the Adipic acid market in China.
Bio based Adipic acid holds around 16% lower utilities cost and around 30%
lower manufacturing cost as compared to the Petroleum based adipic acid.
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