Adipic Acid Market Estimated to Grow $7,539.2 Million by 2019 - Report by MarketsandMarkets
(PRWEB) October 25, 2014 -- The report “Adipic Acid Market by Application, by Material Type & by Geography - Global Trends & Forecast to 2019” report analyzes the adipic acid market with respect to market drivers, opportunities, and trends in different regions.
Browse 119 market data tables and 27 figures spread through 217 slides and in-depth TOC on “Adipic Acid Market - Global Trends & Forecast to 2019”.
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Currently, the demand of adipic acid is driven by the demand of polyamide 66 in the automotive, electrical & electronics, consumer goods and appliances, and film & coating applications. The demand for adipic acid is supported by stringent government regulations, increasing pressure for lightweight and durable polyamide 66, and the need for improving the standard of processing and manufacturing end-products.
The durability and lightweight nature of polyamide 66 has created a significant impact on the various application markets and is already replacing polypropylene and polyethylene in some of the application segments. It meets the requirements of thermal conductivity, distinct density requirements, and other characteristics across the different industry verticals and is an excellent performer compared to other materials.
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The adipic acid market is dominated by the respective regional players along with the presence of few global players in the key growth markets. The Asia-Pacific region is the largest market, followed by Europe, in the global adipic acid industry. Various market players have integrated their value chains so as to reduce the impact of external environment on product economics.
In the Asia-Pacific and ROW region, the volumetric consumption of adipic acid is increasing due to new projects and environmental rules and regulations of the polyamide 66 market. The consumption has increased considerably in the past two years and it is expected to improve in the next five years, thus a decrease in capacity-demand gap can be seen. The increasing purchasing power in developing countries, economic growth, potential projects supported by respective governments, and the need for high performance products may add to the greater demand in the future.
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In terms of market activities, investments and expansions were the most preferred development strategies by the players to increase their product portfolio, market share, and geographic reach.The estimated market value of adipic acid in 2012 was $5,884.6 million, and is projected to reach $7,539.2 million by 2019, growing at a CAGR of 3.7%, from 2014 to 2019. The high demand across the industries, such as electrical & electronics, consumer goods & appliances, and automotive will increase the overall adipic acid consumption in the polyamide 66 industry.
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