The research study covers the present scenario and growth prospects of the global adipic acid market for 2017-2021. The market is segmented based on application (nylon 6,6 fibers, nylon 6,6 resins, polyurethanes, and adipic-adipate esters), and geography (APAC, the North America, Europe, and ROW).
The increasing demand for nylon 6,6 fibers and resins from various end-users like the automotive, electrical and electronics, and packaging industries is expected to augment the demand for adipic acid. Nylon application accounted for 85.4% of the overall adipic acid market in 2016. In the geographical side, Asia-Pacific (APAC) accounted for 36.5% of the overall the global adipic acid market. In APAC, the rise in investments in the automotive, textile, and consumer goods end-user industries will also drive the demand for global adipic acid market during the forecast period.
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Technavio chemicals and materials research analysts highlight the following three factors that are contributing to the growth of the global adipic acid market:
- Growing demand for adipic acid from automotive industry
- Growth of electronics and electrical market
- High demand for bio-based adipic acid
Growing demand for adipic acid from automotive industry
Nylon is a high-performance plastic that plays an important role in the automotive segment. Lightweight plastics helps in reducing the weight of the vehicle. Reduction in the weight of the automobile by every 10% is expected to have a 5%-7% reduction in the fuel use. The increasing fuel prices and environmental concerns about pollution have propelled the manufacturing of fuel-efficient cars in the automotive industry.
Hitesh Bhatia, a lead specialty chemicals research analyst at Technavio, says, “Nylon fibers are used in the production of automotive parts such as engine covers, air intake manifolds, airbag containers, glass-reinforced plastics based structural parts, rocker valve covers, and various interior and exterior automotive parts.”
Growth of electronics and electrical market
According to the Semiconductor Industry Association, the global semiconductor industry sales reached more than USD 338.9 billion in 2016 and is expected to grow in the upcoming years. The properties like non-conductivity and heat resistance have made nylon 6,6 to be used extensively in the electronic component manufacturing. It is used in the production of circuit board hardware, screws, bolts, and washers.
“In semiconductor chips, nylon filled with electrically conductive materials will provide electrostatic discharge and electromagnetic shielding for electronic equipment, conveyors, and trays. The increase in the use of nylon 6,6 in the electronics and electrical industry is anticipated to increase the market size of adipic acid in the coming years,” says Hitesh.
High demand for bio-based adipic acid
Bio-based adipic acid has emerged as an alternative to petroleum-based adipic acid. It is produced from renewable feedstocks such as plant-based oils and sugars, based on fermentation, ultrafiltration, and crystallization techniques. Adipic acid is produced through the fermentation of sucrose, which is eco-friendly. The sucrose is hydrolyzed into products like fructose and glucose, which are the compounds consumed during fermentation to produce bio-adipic acid.
The use of eco-friendly adipic acid helps in reducing volatile organic compounds (VOCs) and toxicity of gases from nearby industries. It also maintains the environmental balance of the atmosphere in the vicinity. There is a strong preference in developed economies like Canada, the US, and Germany to develop bio-based eco-friendly adipic acid.
- Asahi Kasei
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