The global adipic acid market is expected to reach USD 7,240.8 million by 2020, according to a new study by Grand View Research, Inc. Growing demand for nylon resins and fiber from major end use industries such as automotive and electronics mainly in BRIC nations is expected to remain a key driving factor for the market over the next six years. However, volatility in raw material prices coupled with stringent regulations in Europe and North America on account of growing environmental concerns is expected to hinder the market growth over the forecast period.
Development of bio-based adipic acid emerged as a new driving force for the global Adipic Acid market. Bio-based adipic acid is an environment friendly solution, and provides cost advantage over its synthetic counterpart. Rennovia has been one of the pioneers for bio-based adipic acid development, using glucose as feedstock via its proprietary chemical catalytic process technology. Nylon 6,6 both in its fiber and resin forms emerged as the leading application segment for adipic acid and accounted for over 83.3% of total market volume in 2013. Nylon 6,6 is widely used in fiber application including carpets, textiles, technical fibers and tire-cord. Growing demand for light weight high performance materials from automobile industry in order to reduce the overall weight of automobiles is expected to drive the demand for nylon resin and fiber. Nylon 6,6 was followed by polyurethane as the second largest application market for adipic acid in 2013. Polyurethane is also expected to be the fastest growing market for adipic acid at an estimated CAGR of 5.4% from 2014 to 2020. Full Research Report On Global Adipic Acid Market Analysis: www.grandviewresearch.com/industry-analysis/adipic-acid-market Further key findings from the report suggest:
www.grandviewresearch.com/industry/bulk-chemicals Grand View Research has segmented the global adipic acid market on the basis of application and region: Global Adipic Acid Application Outlook
www.grandviewresearch.com/press-release/global-adipic-acid-market About Grand View Research Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare. For more information: www.grandviewresearch.com
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