Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

Adipic acid is an important raw material used in the production of industrial fiber such as Nylon 6.6. Adipic acid is basically produced by using various raw materials such as cyclohexane, benzene, and phenol. The lower purity grade of adipic acid is used to produce polyurethane whereas high purity grade is used to produce nylon.

The global synthetic and bio-based adipic acid market is estimated to account for US$ 8,526.7 Mn in terms of value and 4,311.7 Thousand Kilo Tons in terms of volume by the end of 2019.

Drivers:

The growing demand for nylon from the automotive industry is predominantly fueling the market growth of adipic acid. Nylon 6, 6 is widely used in the manufacturing of lightweight automobiles components such as intake manifolds, as these materials have better resistance which makes them ideal substitute of metals. Thus the growing demand for nylon 6.6 from the automotive industry is majorly driving the market growth of synthetic and bio-based adipic acid.

Expansion of the footwear market as polyurethane is used in the production of footwear is expected to fuel the market growth of synthetic and bio-based adipic acid. According to the World Footwear, footwear production worldwide reached 24.2 billion pairs in 2018, increased by 2.7% from 2017. Thus, growth in the footwear market due to increasing production and demand among consumer is expected to augment the market growth of the adipic acid over the forecast period.

Figure 1. Global Synthetic and Bio-Based Adipic Acid Market Share (%) in terms of Value, By Region, in 2019

Synthetic and Bio-based Adipic Acid  | Coherent Market Insights

Asia Pacific region dominated the global synthetic and bio-based adipic acid market in 2019, accounting for 33.3% share in terms of value, followed by Europe and North America, respectively.

Market Restraints

Growing environmental concern as adipic acid poses a threat to the environment as well as health of humans is expected to restrict the market growth. Adipic acid is one of the largest source of N2O emission and also generate non-methane volatile organic compounds. Thus, environmental concern associated with the production of adipic acid is expected to hinder the market growth.

High manufacturing cost of synthetic based adipic acid is expected to limit the adoption of synthetic adipic acid. This is projected to hamper market growth over the forecast period.

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Synthetic and Bio-based Adipic Acid Market Report Coverage

Report Coverage Details
Base Year: 2019 Market Size in 2019: US$ 8,526.7 Mn
Historical Data for: 2016 to 2019 Forecast Period: 2020 to 2027
Forecast Period 2020 to 2027 CAGR: 5.8% 2027 Value Projection: US$ 13,336.1 Mn
Geographies covered:
  • North America: U.S., Canada
  • Latin America: Brazil, Argentina, Mexico, Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
  • Middle East: GCC, Israel, and Rest of Middle East
  • Africa: South Africa, North Africa, and Africa
Segments covered:
  • By Application: Nylon 6,6 Fiber, Nylon 6,6 Resin, Polyurethanes, Adipate Esters, and Others
Companies covered:

Invista, Rhodia, BASF, Ascend Performance Materials, Shangdong Haili (Bohui), Liaoyang Petrochemical, Asahi Kasei, Radici

Growth Drivers:
  • The growing demand for nylon from the automotive industry is fuelling the market growth
  • Rising demand for footwear industry is expected to drive the overall market
Restraints & Challenges:
  • High manufacturing cost associated with synthetic based adipic acid is expected to hinder the adoption of synthetic adipic acid.
  • Growing environmental concern is expected to restrict the market growth.

Market Opportunities

The growing demand for engineering plastic across several end-user industries due to their advantage offered in terms of durability is expected to bring new market opportunities. They are durable, highly versatile, high performance, and cost-effective solutions. Moreover, expansion of the medical industry is also expected to foster the market growth of adipic acid over the forecast period.

Increasing development of bio-based adipic acid is projected to provide enormous opportunities over the forecast period. This is attributed to growing environmental concerns and the need to promote environmental sustainability. Additionally, increasing investment by government and manufacturer for producing bio-based adipic acid as they are cost-effective and environmentally friendly solutions to cater to various industrial applications is further anticipated to bolster the market growth.

Figure 2. Global Coated Fabric Market– Opportunity Analysis

Synthetic and Bio-based Adipic Acid  | Coherent Market Insights

Market Trends/Key Takeaways

Shifting consumer preferences towards highly soft mattresses due to improving lifestyle of the consumer is projected to propel the market growth of synthetic and bio-based adipic acid. Polyurethane (PU) is majorly used for safe filling materials in mattresses and sitting cushions. Moreover, growth in the furniture industry where PU foam is used to offer flexibility to furniture products is also projected to augment the market growth. Thus, growing demand for highly soft mattresses is expected to propel the market growth.

Electronic consumer goods such as smartphones, OLED TVs, tablets, etc. are experiencing the highest demand in the electronic consumer goods industry. This is attributed to the growing use of smartphones and other advanced devices due to the increasing penetration of the internet. Also, the electronic and electrical industry is witnessing the fastest growth on the account of growing trend of digitalization around the globe.

Figure 3. Global Synthetic and Bio-Based Adipic Acid Market Share (%) in terms of Value, By Application, in 2019

Synthetic and Bio-based Adipic Acid  | Coherent Market Insights

On the basis of application in 2019, the nylon 6,6 fiber has accounted the largest market share of 57.8% in terms of value, followed by nylon 6,6 resin segment respectively.

Value Chain Analysis

Synthetic and Bio-based Adipic Acid  | Coherent Market Insights

Global Coated Fabrics Market - Impact of Coronavirus (Covid-19) Pandemic

Coronavirus is expected to have a significant impact the textile sector as due to the pandemic situation the global sales of the textile products have come down to a grinding halt. The demand for textile products abroad and domestic have come down to a grinding halt due to the panic created due to the pandemic. In addition, textile exports fell by about 90% during the month of April. The lockdown caused permanent shut down of various factories across the globe. Hence, restraining the growth of the synthetic and bio-based adipic acid market over the forecast period.

Competitive Section:

Company Names 

  1. Invista
  2. Rhodia
  3. BASF
  4. Ascend performance materials
  5. Shangdong haili (bohui)
  6. Liaoyang petrochemical
  7. Asahi kasei
  8. Radici

Adipic acid is a vital raw material used in the manufacturing of industrial fiber such as Nylon 6.6. Adipic acid is basically produced by using various raw materials such as benzene, cyclohexane and phenol. The lower purity grade of adipic acid is used to produce polyurethane whereas high purity grade is used to produce nylon. The major end-user of adipic acid includes food, packaging, automotive, medical, consumer goods, construction, electronics, and furniture.

Market Dynamics

Growth in the textile industry especially across the Asia Pacific region is projected to offer profitable market opportunities in the near future. The growing demand for sports shoes and apparel due to increasing number of people participating in the sports activities is expected to spur the market growth of adipic acid. Also, growth in the sports industry is another major factor augmenting the demand for nylon which in turn accelerating the market growth of synthetic and bio-based adipic acid.

In addition, expansion of the footwear market as polyurethane is used in the production of footwear is expected to fuel the market growth of synthetic and bio-based adipic acid. According to the World Footwear, footwear production worldwide reached 24.2 billion pairs in 2018, increased by 2.7% from 2017. Thus, growth in the footwear market due to increasing production and demand among consumer is expected to augment the market growth of the adipic acid over the forecast period.

Key features of the study:

  • This report provides in-depth analysis of the global synthetic and bio-based adipic acid market and provides market size (US$ Million & Tons) and compound annual growth rate (CAGR %) for the forecast period (2020-2027), considering 2019 as the base year
  • It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategies adopted by key players
  • This study also provides impact analysis of Coronavirus (Covid-19) pandemic on synthetic and bio-based adipic acid market.
  • It profiles key players in the global synthetic and bio-based adipic acid market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
  • Key companies covered as a part of this study include Invista, Rhodia, BASF,  Ascend Performance Materials, Shangdong Haili (Bohui), Liaoyang Petrochemical, Asahi Kasei, Radici
  • Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, technology upgradation, market expansion, and marketing tactics
  • The global synthetic and bio-based adipic acid market report caters to various stakeholders in this industry including investors, suppliers,  synthetic and bio-based adipic acid manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the synthetic and bio-based adipic acid market

Detailed Segmentation:

  • Global Synthetic and bio-based adipic acid Market, By Application:
    • Nylon 6,6 fiber
    • Nylon 6,6 resin
    • Polyurethanes
    • Adipate esters
    • Others
  • Global Synthetic and bio-based adipic acid Market, By Region:
    • North America
      • U.S.
        • By Application
          • Nylon 6,6 fiber
          • Nylon 6,6 resin
          • Polyurethanes
          • Adipate esters
          • Others
      • Canada
        • By Application
          • Nylon 6,6 fiber
          • Nylon 6,6 resin
          • Polyurethanes
          • Adipate esters
          • Others
    • Europe
      • U.K.
        • By Application
          • Nylon 6,6 fiber
          • Nylon 6,6 resin
          • Polyurethanes
          • Adipate esters
          • Others
      • Germany
        • By Application
          • Nylon 6,6 fiber
          • Nylon 6,6 resin
          • Polyurethanes
          • Adipate esters
          • Others
      • France
        • By Application
          • Nylon 6,6 fiber
          • Nylon 6,6 resin
          • Polyurethanes
          • Adipate esters
          • Others
      • Italy
        • By Application
          • Nylon 6,6 fiber
          • Nylon 6,6 resin
          • Polyurethanes
          • Adipate esters
          • Others
          •  
      • Spain
        • By Application
          • Nylon 6,6 fiber
          • Nylon 6,6 resin
          • Polyurethanes
          • Adipate esters
          • Others
          •  
      • Russia
        • By Application
          • Nylon 6,6 fiber
          • Nylon 6,6 resin
          • Polyurethanes
          • Adipate esters
          • Others
      • Rest of Europe
        • By Application
          • Nylon 6,6 fiber
          • Nylon 6,6 resin
          • Polyurethanes
          • Adipate esters
          • Others
    • Asia Pacific
      • China
        • By Application
          • Nylon 6,6 fiber
          • Nylon 6,6 resin
          • Polyurethanes
          • Adipate esters
          • Others
      • India
        • By Application
          • Nylon 6,6 fiber
          • Nylon 6,6 resin
          • Polyurethanes
          • Adipate esters
          • Others
      • Japan
        • By Application
          • Nylon 6,6 fiber
          • Nylon 6,6 resin
          • Polyurethanes
          • Adipate esters
          • Others
      • ASEAN
        • By Application
          • Nylon 6,6 fiber
          • Nylon 6,6 resin
          • Polyurethanes
          • Adipate esters
          • Others
      • Australia
        • By Application
          • Nylon 6,6 fiber
          • Nylon 6,6 resin
          • Polyurethanes
          • Adipate esters
          • Others
      • South Korea
        • By Application
          • Nylon 6,6 fiber
          • Nylon 6,6 resin
          • Polyurethanes
          • Adipate esters
          • Others
      • Rest of Asia Pacific
        • By Application
          • Nylon 6,6 fiber
          • Nylon 6,6 resin
          • Polyurethanes
          • Adipate esters
          • Others
    • Latin America
      • Brazil
        • By Application
          • Nylon 6,6 fiber
          • Nylon 6,6 resin
          • Polyurethanes
          • Adipate esters
          • Others
      • Mexico
        • By Application
          • Nylon 6,6 fiber
          • Nylon 6,6 resin
          • Polyurethanes
          • Adipate esters
          • Others
      • Rest of Latin America
        • By Application
          • Nylon 6,6 fiber
          • Nylon 6,6 resin
          • Polyurethanes
          • Adipate esters
          • Others
    • Middle East & Africa
      • Middle East
        • By Application
          • Nylon 6,6 fiber
          • Nylon 6,6 resin
          • Polyurethanes
          • Adipate esters
          • Others
      • Africa
        • By Application
          • Electronics
          • Nylon 6,6 fiber
          • Nylon 6,6 resin
          • Polyurethanes
          • Adipate esters
          • Others
  • Company Profiles
    • Invista
      • Company Overview
      • Material Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
    • Rhodia
    • BASF
    • Ascend Performance Materials
    • Shangdong Haili (Bohui)
    • Liaoyang Petrochemical
    • Asahi Kasei
    • Radici

“*” marked represents similar segmentation in other categories in the respective section.

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Application
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
        • Supply Side Drivers
        • Demand Side Drivers
        • Economic Drivers
      • Restraints
      • Market Opportunities
      • Regulatory Scenario
      • Industry Trend
      • Mergers and Acquisitions
      • New Material Approvals/Launch
      • Promotion and Marketing Initiatives
    • Cost Tier Down Analysis
  4. Global Synthetic and Bio-Based Adipic Acid Market – Impact of Coronavirus (Covid-19) Pandemic
    • Impact of Coronavirus – Overview
    • Impact Analysis, By Region
      • North America
      • Latin America
      • Europe
      • Asia Pacific
      • Middle East
      • Africa
  5. Global Synthetic and Bio-Based Adipic Acid Market, By Application, 2017 - 2027 (US$ Million & Tons)
    • Introduction
      • Market Share Analysis, 2017 and 2027
      • Y-o-Y Growth Analysis, 2020 – 2027 (%)
      • Segment Trends
    • Nylon 6,6 fiber
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2020 - 2027, (US$ Million & Tons)
    • Nylon 6,6 resin
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2020 - 2027, (US$ Million & Tons)
    • Polyurethanes
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2020 - 2027, (US$ Million & Tons)
    • Adipate esters        
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2020 - 2027, (US$ Million & Tons)
    • Others
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2020 - 2027, (US$ Million & Tons)
  6. Global Synthetic and Bio-Based Adipic Acid Market, By Region, 2017- 2027 (US$ Million & Tons)
    • Introduction
      • Market Share Analysis, By Region, 2017 and 2027
      • Y-o-Y Growth Analysis, By Region, 2020 – 2027 (%)
    • North America
      • Market Share Analysis, By Country, 2017 and 2027
      • Y-o-Y Growth Analysis, By Country, 2020 – 2027 (%)
        • U.S.
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Tons)
        • Canada
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Tons)
    • Europe
      • Market Share Analysis, By Country, 2017 and 2027
      • Y-o-Y Growth Analysis, By Country, 2020 – 2027 (%)
        • U.K.
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Tons)
        • Germany
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Tons)
        • France
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Tons)
        • Italy
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Tons)
        • Spain
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Tons)
        • Russia
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Tons)
        • Rest of Europe
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Tons)
    • Asia Pacific
      • Market Share Analysis, By Country, 2017 and 2027
      • Y-o-Y Growth Analysis, By Country, 2020 – 2027 (%)
        • China
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Tons)
        • India
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Tons)
        • Japan
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Tons)
        • ASEAN
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Tons)
        • Australia
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Tons)
        • South Korea
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Tons)
        • Rest of Asia Pacific
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Tons)
    • Latin America
      • Market Share Analysis, By Country, 2017 and 2027
      • Y-o-Y Growth Analysis, By Country, 2020 – 2027 (%)
        • Brazil
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Tons)
        • Mexico
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Tons)
        • Argentina
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Tons)
        • Rest of Latin America
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Tons)
    • Middle East & Africa
      • Market Share Analysis, By Sub-Region, 2017 and 2027
      • Y-o-Y Growth Analysis, By Sub-Region, 2020 – 2027 (%)
        • Middle East
          • Sub-region Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Tons)
        • Africa
          • Sub-region Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Tons)
  7. Competitive Landscape
    • Heat Map Analysis
    • Market Share Analysis (3x3 Matrix)
    • Company Profiles
      •  Invista
        • Company Overview
        • Material Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      •  Rhodia
        • Company Overview
        • Material Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • BASF
        • Company Overview
        • Material Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Ascend Performance Materials
        • Company Overview
        • Material Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Shangdong Haili (Bohui)
        • Company Overview
        • Material Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Liaoyang Petrochemicals
        • Company Overview
        • Material Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Asahi Kasei
        • Company Overview
        • Material Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Radici
        • Company Overview
        • Material Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
  8. Section
    • References
    • Research Methodology
    • About us and Sales Contact

Frequently Asked Questions

The market for the synthetic and bio-based adipic acid is estimated to surpass US$ 13,336.1 million by the year 2027, exhibiting a CAGR of 5.8% between 2020 and 2027.
Rising demand for footwear industry is expected to drive the overall market for the synthetic and bio-based adipic acid market. As polyurethane is the used in the manufacturing of footwear. Moreover, according to the World Footwear, footwear production worldwide reached 24.2 billion pairs in 2018, increased by 2.7% from 2017. Thus, growth in the footwear market due to increasing production and demand among consumer is expected to augment the market growth of the adipic acid over the forecast period.
The synthetic and bio-based adipic acid market is expected to exhibit to grow at a CAGR of 5.8% during the forecast period (2020-2027).
Major players functioning in the global synhetic and bio-based adipic acid market includes Invista, Rhodia, BASF, Ascend Performance Materials, Shangdong Haili (Bohui), Liaoyang Petrochemical, Asahi Kasei, Radici
Adipic acid is one of the largest source of N2O emission and also generate non-methane volatile organic compounds. Thereby, growing environmental concern as adipic acid poses a threat to the environment as well as health of humans is expected to restrict the market growth. Moreover, high manufacturing cost associated with the synthetic based adipic acid is expected to limit the adoption of synthetic adipic acid. This is projected to hamper market growth over the forecast period.
Electronic consumer goods such as smartphones, OLED TVs, tablets, etc. are experiencing the highest demand in the electronic consumer goods industry. This is attributed to the growing use of smartphones and other advanced devices due to the increasing penetration of the internet. Also, the electronic and electrical industry is witnessing the fastest growth on the account of growing trend of digitalization around the globe.
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