Adipic Acid Market Adipic Acid Market | Page 2

Global In-flight Advertising Market Research Report: Forecast to 2023
Adipic Acid Market
INVISTA (U.S.), PetroChina Company Limited (China), Asahi Kasei Corporation (Japan), Ascend
Performance Materials (U.S.), BASF SE (Germany), LANXESS (Germany), Radici Partecipazioni
SpA (Italy), Solvay S.A. (Belgium), Sumitomo Chemical Co., Ltd. (Japan), BioAmber Inc (U.S.),
Shandong Hongye Chemical Company, Ltd. (China) among others these are the important players
covered in Adipic Acid Market.
The Global Adipic Acid Market is categorized into five regions: Asia Pacific, North America, Europe, Latin
America, and the Middle East and Africa. Among them, Asia Pacific accounted for ~33% market in 2016 and
is predicted to grow at a significant CAGR over the forecast period 2017-2023 on account of
the continuous expansion of automotive as well as electrical & electronics industries. The Asia Pacific adipic
acid market is segmented into Japan, India, Vietnam, China, Malaysia, Taiwan, Singapore, South Korea, and
Rest of Asia Pacific. Among them, China and India are predicted to remain the major contributors to the
regional market growth due to growth in various end-use industries such as footwear, automotive, building &
construction, and electronics.
Market Analysis
The Asia Pacific holds the largest market for adipic acid followed by Europe and North America. Europe is
estimated to witness a steady growth in the use of adipic acid on account of increasing Research &
Development activities and innovations in bio-basedplastics. European countries such as the U.K, Poland, Italy,
France, and Germany dominated the region in 2016 due to increasing investment in the packaging & consumer
goods and automotive sector. In North America, the countries such as the U.S. and Canada are among
the major contributors to the regional market growth due to rising expansion of textile and electronics industry.
Latin American countries such as Brazil, Mexico, Venezuela, Peru, and Argentina are predicted to witness a
strong growth on account of increasing consumer expenditure on passenger cars as well as household
appliances. The Middle East & Africa is estimated to witness a moderate growth rate owing
to increasing residential, commercial, and institutional construction activities specifically in the United Arab
Emirates, Saudi Arabia, Turkey, Qatar, and Kuwait. Furthermore, rising disposable income has given a rise to
the higher household appliances & heavy as well as light duty vehicles demand, which is likely to propel the
growth of the regional market in the upcoming years.
Page | 2
Copyright © 2017 Market Research Future.