China’s Adipic Acid Market Size, Share And Growth Report : Radiant Insights,Inc
RadiantInsights.com has announced the addition of “China’s Adipic Acid Market Trends, Growth And Forecast Report : Radiant Insights, Inc” Market Research Report to their Database.
San Francisco, United States – June 30, 2016 /MarketersMedia/ —
Adipic acid is a commercially available aliphatic dicarboxylic acid. It is denoted by the chemical formula – (CH₂)₄(COOH)₂. It is a prime component in the manufacture of nylon. It has major application in electronics and automotive industries.
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Adipic acid is mainly manufactured from cyclohexanol and cyclohexanone. It relies on other petroleum derivatives for its production. Asia Pacific led the global adipic acid market in 2012 by catering to 35% overall demand. The thriving automobile industry is one of the major factors driving the market in China.
The adipic acid market in China is projected a rapid growth over the forecast period (2018-2023). High standard of living and disposable earnings of the China populace are another factor driving market growth. The market growth faces a threat from bio-based substitutes.
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Products of the market are Nylon 66 fiber, polyurethane, nylon 66 resins, adipate esters, and others. Nylon 66 fiber and resins will be the fastest growing segment over the forecast period. This product has wide applications which include technical fibers, tire-cord, carpets, and textiles.
Demand for materials which perform under duress and reduce the overall automobile weight are expected to drive the growth of this segment. Polyurethane was the second largest product in the market.
Applications of the market include low-temperature lubricants, paints & coatings, synthetic fibers, and others. Paints & coatings demand will grow significantly on account of adipate esters used as a solvent. Other applications include cosmetics, fillers, polyester molding agents, chemical intermediates, and paper additives.
Prominent manufacturers in China’s adipic acid market are Asahi Kasei Corporation, BASF SA, INVISTA, Shandong Haili Chemical Industry Co., Ltd., and Shenma Industrial Co., Ltd. Manufacturers are shifting their production bases to China due to lax regulations and tax incentives. BASF constructed a plant at Shanghai Chemical Industry Park, China in 2015. This will allow it to produce adipic acid in mass quantities and expand its reach in Asia Pacific.
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About Radiant Insights,Inc
Radiant Insights is a platform for companies looking to meet their market research and business intelligence requirements. We assist and facilitate organizations and individuals procure market research reports, helping them in the decision making process. We have a comprehensive collection of reports, covering over 40 key industries and a host of micro markets. In addition to over extensive database of reports, our experienced research coordinators also offer a host of ancillary services such as, research partnerships/ tie-ups and customized research solutions.
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