Global Synthetic & Bio-based Adipic Acid Market Sector: Types, Applications, Market Player Strategies, Regional Growth Insights, and Future Projections (2024 - 2031)
The "Synthetic & Bio-based Adipic Acid Market" is focused on controlling cost, and improving efficiency. Moreover, the reports offer both the demand and supply aspects of the market. The Synthetic & Bio-based Adipic Acid market is expected to grow annually by 13.9% (CAGR 2024 - 2031).
This entire report is of 120 pages.
Synthetic & Bio-based Adipic Acid Introduction and its Market Analysis
The Synthetic & Bio-based Adipic Acid market research report provides insights into the global market conditions for this chemical compound used in the production of nylon, polyurethanes, and other materials. The target market for Synthetic & Bio-based Adipic Acid includes industries such as textiles, automotive, and packaging. Major factors driving revenue growth include the increasing demand for sustainable and eco-friendly products, as well as the growing automotive and construction industries. Key players in the market include Invista, Rhodia, BASF, Ascend Performance Materials, Shangdong Haili (Bohui), Liaoyang Petrochemical, Asahi Kasei, and Radici. The report's findings highlight the market's potential for growth and recommend strategies for companies looking to capitalize on this trend.
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The global Synthetic & Bio-based Adipic Acid market is expected to see significant growth in the coming years. The market is segmented by type into Synthetic Adipic Acid and Bio-based Adipic Acid, with applications including Nylon 6,6 Fiber, Nylon 6,6 Resin, Polyurethanes, Adipate Esters, and others. Regulatory and legal factors specific to market conditions play a crucial role in shaping the industry. With increasing focus on sustainability and environmental regulations, the demand for bio-based adipic acid is on the rise. This shift towards eco-friendly alternatives is driving innovation and investment in the market. Companies in the Synthetic & Bio-based Adipic Acid market need to stay informed about changing regulations and compliance standards to stay competitive and meet the evolving needs of consumers. Overall, the market shows promising growth opportunities, especially in the bio-based segment, as consumers and industries alike prioritize sustainability and environmental responsibility.
Top Featured Companies Dominating the Global Synthetic & Bio-based Adipic Acid Market
The global synthetic & bio-based adipic acid market is highly competitive, with key players such as Invista, Rhodia, BASF, Ascend Performance Materials, Shangdong Haili (Bohui), Liaoyang Petrochemical, Asahi Kasei, and Radici dominating the market. These companies offer synthetic and bio-based adipic acid, which is primarily used as a key raw material in the production of nylon, polyurethane, polyester, and other specialty chemicals.
Companies like Invista, Rhodia, and BASF have a strong presence in the synthetic adipic acid market, offering high-quality products to a wide range of industries. On the other hand, companies like Ascend Performance Materials and Shangdong Haili (Bohui) are focused on producing bio-based adipic acid, catering to the growing demand for sustainable and environmentally friendly products.
These companies play a crucial role in driving the growth of the synthetic & bio-based adipic acid market by investing in research and development, expanding their production capacities, and collaborating with key stakeholders in the industry. They also provide a diverse range of products and solutions to meet the specific needs of their customers, thus contributing to the overall growth of the market.
In terms of sales revenue, Invista reported a revenue of over $9 billion in 2020, while BASF generated around $62 billion in sales revenue during the same year. Ascend Performance Materials also reported strong financial performance with revenues exceeding $2 billion in 2020. These figures demonstrate the significant market presence and growth potential of the key players in the synthetic & bio-based adipic acid market.
- Invista
- Rhodia
- BASF
- Ascend Performance Materials
- Shangdong Haili (Bohui)
- Liaoyang Petrochemical
- Asahi Kasei
- Radici
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Synthetic & Bio-based Adipic Acid Market Analysis, by Type:
- Synthetic Adipic Acid
- Bio-based Adipic Acid
Synthetic Adipic Acid is traditionally produced from petrochemical sources, while Bio-based Adipic Acid is derived from renewable resources such as biomass or bio-waste. Both types offer similar properties and applications, but Bio-based Adipic Acid is more sustainable and environmentally friendly. The increasing focus on sustainability and green chemistry is driving the demand for Bio-based Adipic Acid, while the well-established production processes for Synthetic Adipic Acid ensure consistent supply and availability. This dual approach to production helps to cater to a wider range of customers and applications, ultimately boosting the overall demand for Synthetic & Bio-based Adipic Acid.
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Synthetic & Bio-based Adipic Acid Market Analysis, by Application:
- Nylon 6,6 Fiber
- Nylon 6,6 Resin
- Polyurethanes
- Adipate Esters
- Others
Synthetic & Bio-based Adipic Acid is used in a variety of applications such as Nylon 6,6 Fiber, Nylon 6,6 Resin, Polyurethanes, Adipate Esters, and others. The adipic acid is used as a raw material in the production of these products, providing the necessary chemical properties for their desired characteristics. The fastest growing application segment in terms of revenue is Polyurethanes, due to the increasing demand for these versatile materials in various industries such as construction, automotive, and furniture. This growth is driven by the superior performance and sustainability of bio-based adipic acid compared to synthetic alternatives.
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Synthetic & Bio-based Adipic Acid Industry Growth Analysis, by Geography:
North America:
- United States
- Canada
Europe:
- Germany
- France
- U.K.
- Italy
- Russia
Asia-Pacific:
- China
- Japan
- South Korea
- India
- Australia
- China Taiwan
- Indonesia
- Thailand
- Malaysia
Latin America:
- Mexico
- Brazil
- Argentina Korea
- Colombia
Middle East & Africa:
- Turkey
- Saudi
- Arabia
- UAE
- Korea
The synthetic and bio-based adipic acid market is expected to witness significant growth in regions such as North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. North America and Europe are expected to dominate the market, with a market share of around 30% each, owing to the increasing demand for eco-friendly products and government regulations promoting the use of bio-based chemicals. Asia-Pacific is anticipated to see the highest growth rate in the market, driven by the growing chemical industry in countries like China, India, and Japan. The market share of synthetic and bio-based adipic acid in different regions is expected to vary between 10-20%.
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