- The key vendors of the Global Adipic Acid Market 2015-2019 are Ascend Performance Materials LLC, BASF SE, Invista Sarl, Radici Partecipazioni SpA, Shandong Haili Chemical Industry Co. Ltd. and Solvay SA.
London, 25 November 2014: TechNavio, an independent tech-focused global research firm, has announced the publication of its market research report on the Global Adipic Acid Market 2015-2019. Increasing commercial use of bio-adipic acid owing to increased consumer and manufacturer awareness about carbon footprint reduction is the major positive trend being witnessed in this market. The increased demand for environment-friendly chemical manufacturing processes owing to greater awareness about the ill-effects of petroleum-based production processes on the environment has resulted in the increased adoption of bio-adipic acid by various industries. The Global Adipic Acid market is expected to grow at a CAGR of 3.04 percent during the forecast period of 2014-2019.
The Global Adipic Acid market is expected to grow at a moderate pace because of the increasing demand from emerging economies in the APAC region, especially from India and China. The growing usage of nylon 6,6 in various applications in the automotive industry is expected to drive the demand for adipic acid during the forecast period. Moreover, the market is expected to further gain from the increased demand for polyurethanes.
“With the governments of various countries providing price subsidies and other benefits to bio-adipic acid manufacturers, most major companies in the market have started manufacturing adipic acid from bio-based feedstock,” says Faisal Ghaus, Vice President of TechNavio Research.
To define the market conditions in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
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