The India Adipic Acid market is anticipated to grow at a steady CAGR of 5.35% by FY2030. Increasing use of Adipic Acid as a feedstock to manufacture nylon 6,6 which is further used in numerous industries is anticipated to spur the demand for Adipic Acid in India.
Adipic Acid is dicarboxylic acid, and it is a white crystalline organic compound with the chemical formula (CH2)4(COOH)2. Adipic acid is an organic molecule containing two total carboxylate groups (-COOH), one connected to each terminal end of the carbon chain and six carbon atoms in total. Since adipic acid has two carboxylate groups, it can be referred to as a di-acid. This acid is primarily used in the production of nylon 6,6. Moreover, it serves as a reactant in the synthesis of polyester polyols, plasticizers, lubricant components, and polyurethanes. Commercial production of this chemical involves reacting cyclohexanone and cyclohexanol.
Growing demand for Adipic Acid in end-user applications such as Furniture and Interiors, Construction, Electronics and Appliances, Automotive, Footwear and Packaging, are mainly driving the market. Due to growing concern about energy saving in India, Indian Polyurethane Association (IPuA) has initiated the use of insulation in buildings through India Insulation Forum (IIF). With the increasing demand for polyurethane in the construction, automotive and furniture sectors as polyurethane possesses high durability, versatility, low cost and high functionality, it directly influences the Adipic Acid market. The above-mentioned factors are anticipated to contribute towards the rising demand of Adipic Acid in the country.
Based on region, the India Adipic Acid Market is segregated into North, South, East, and West. In the historic period of FY2015-FY2022, West India has been dominating the market. In FY2022, West India consumed approximately 38% of the market, owing to the presence of major textile manufacturers located in Western states like Gujarat.
As of FY2022, there are no domestic producers of adipic acid in India. Global players fulfilling the adipic acid demand in India are Asahi Kasei Corporation, BASF SE, Invista, Lanxess AG, Ascend Performance Materials LLC, Chongqing Huafon Chemical Co., Ltd., Shandong Haili Chemical Industry Co., Ltd, LCY Chemical Corporation, Huntsman Corporation and others.
Years considered for this report:
Historical Period: FY2015-FY2022
Base Year: FY2022
Estimated Year: FY2023
Forecast Period: FY2024- FY2030
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Objective of the Study:
• To assess the demand-supply scenario of Adipic Acid which covers production, demand and supply of Adipic Acid market in India.
• To analyse and forecast the market size of Adipic Acid in India.
• To classify and forecast India Adipic Acid market based on end-use and regional distribution.
• To examine competitive developments such as expansions, green field projects/ brown field expansions. mergers & acquisitions, etc., of Adipic Acid market in India.
To extract data for India Adipic Acid market, primary research surveys were conducted with Adipic Acid manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for India Adipic Acid market over the coming years.
ChemAnalyst calculated Adipic Acid demand in India by analyzing the historical data and demand forecast which was carried out considering the imports and domestic production coupled with demand from end user industry. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data / import data of Adipic Acid to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Adipic Acid manufacturers and other stakeholders
• Organizations, forums and alliances related to Adipic Acid distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Adipic Acid manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years, thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, India Adipic Acid market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Growth Rate
CAGR of 5.35% from FY2023 to FY2030
Base year for estimation
FY2023
Historic Data
FY2015 – FY2022
Forecast period
FY2024 – FY2030
Quantitative units
Demand in thousand tonnes and CAGR from FY2023 to FY2030
Report coverage
Capacity By Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Foreign Trade
Segments covered
By End-Use: (Furniture and Interiors, Construction, Electronics and Appliances, Automotive, Footwear and Packaging, and Others)
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Member - Board of Directors
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What is the anticipated market growth rate of India Adipic Acid market for the forecast period of FY2015-FY2030?
Ans:
The India Adipic Acid is anticipated to grow at a CAGR of 5.35% for the forecast period of FY2015-FY2030?
Q2.
Which industry is dominating the India Adipic Acid market?
Ans:
As of FY2022, Furniture and Interiors industry is dominating the Adipic Acid market in India with an estimated share of roughly 27%.
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