Albany, New York (PRWEB) September 13, 2013
According to a new market report published by Transparency Market Research “Synthetic and Bio-Based Adipic Acid Market – Global Industry Analysis, Size, Share, Growth and Forecast, 2012 – 2018,” the global synthetic adipic acid market was worth USD 4,898.5 million in 2010 and is expected to reach USD 8,063.1 million in 2018, growing at a CAGR of 5.8% from 2013 to 2018. In the overall global market, Asia Pacific is expected to maintain its lead position in terms of revenue till 2018. Asia Pacific is expected to enjoy 33.3% of the global adipic acid market revenue share in 2018 followed by Europe.
Browse the full report with TOC at http://www.transparencymarketresearch.com/synthetic-and-bio-based-adipic-acid.html .
The global adipic acid market is driven by growing demand for nylon 6, 6 resin and fibers in automotive and electronics industries and the growth of the global footwear market where polyurethane being one of the applications of adipic acid is used to manufacture shoe soles. Transparency Market ResearchHowever, due to rising price of crude oil and the impact of adipic acid on the environment, the world is shifting towards the use of bio-based adipic acid. Apart from providing a clean solution, bio-based adipic acid is also economically viable against its synthetic counterpart.
The bio-based adipic acid market is still in its nascent phase and is likely to commercialize by 2013 – 2014. However, it is expected that demand for bio-based adipic acid will be significant due to growing demand for eco-friendly materials and its acceptance by the consumers. Some companies like DSM, Verdezyne and Rennovia have already started their pilot operations with extensive R&D activities to support their pursuit. Many other companies are expected to follow them in the coming years.
The major geographic markets for adipic acid are Asia Pacific, and Europe. Asia Pacific enjoyed the largest market share of the worldwide adipic acid market in 2010 and is expected to lead by 2018. Along with being the largest market, Asia Pacific is also the fastest growing market for adipic acid.
This research is specially designed to estimate and analyze the demand and performance of synthetic & bio-based adipic acid in the global scenario. This research provides in-depth analysis of synthetic & bio-based adipic acid manufacturers, trend analysis by segments and demand by geography. The report covers all the major segments of the global synthetic & bio-based adipic acid market and provides in-depth analysis, historical data and statistically refined forecast for the segments covered.
This report is an effort to identify factors, which will be the driving force behind the synthetic & biobased adipic acid market and submarkets in the next six years. The report provides extensive analysis of the industry, current market trends, industry drivers and challenges for better understanding of the market structure. The report has segregated the synthetic & biobased adipic acid industry in terms of application and geography.
We have used a combination of primary and secondary research to arrive at the market estimates, market shares and trends. We have adopted bottom up model to derive market size of the global synthetic & biobased adipic acid market and further validated numbers with the key market participants and Clevel executives.