According to ChemAnalyst report, “India Adipic Acid Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Company Share, Foreign Trade, FY2015-FY2030”, The India Adipic Acid Market is likely to grow at a CAGR of 5.35% during the forecasted period by FY2030. The end-use industries Furniture and Interiors, Construction, Electronics and Appliances, Automotive, Footwear and Packaging are anticipated to accelerate the Adipic Acid Market in India in the forthcoming years.
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. The monomer adipic acid is utilised in the production of nylon 6,6. Polyurethanes and adipic acid esters, such Di-2-Ethylhexyl Adipate (DOA), which are used as plasticizers for polyvinyl chloride (PVC) resins, are other uses for adipic acid.
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The demand for Adipic Acid is fuelled by its increasing usage as a precursor to manufacture nylon 6,6 and polyurethane. market. Polyurethane possesses high durability, versatility, low cost and high functionality, and finds applications in the construction, automotive and furniture sectors as it directly influences the Adipic Acid 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). For mattresses and seating cushions, polyurethane foams are regarded as excellent and secure filling materials. Also, they are simple to adjust to the needed density, giving furniture designers more freedom to create novel new things. Flexible PU foams’ qualities of softness, durability, and form retention make them an ideal choice for furniture and bedding, which has led to rising demand in the furniture and interiors sector.
The India Adipic Acid Market is segmented based on end-use, sales channel, and region. Based on end-use, the India Adipic Acid market is segregated into Furniture and Interiors, Construction, Electronics and Appliances, Automotive, Footwear and Packaging, and Others. Among these, the Furniture and Interiors industry is dominating the India Adipic Acid market and is anticipated to retain this position in the forecast period as well.
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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.
“India Adipic Acid Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Company Share, Foreign Trade, FY2015-FY2030” 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.
“Linked to various downstream industries such as Furniture and Interiors, Construction, Electronics and Appliances, Automotive, Footwear and Packaging, Adipic Acid can be said as a versatile. Adipic acid is primarily used to make nylon 6,6, which has several uses in a variety of industries, including the textile and automotive industries. This is mostly attributable to its great tensile strength, light weight, excellent flexibility, and high durability. Additionally, it is predicted that throughout the projection period, the market would be further influenced by growing demand for lightweight vehicles, anticipated to fuel the market for polyurethane and nylon 6,6, which is anticipated to have a positive effect on the Adipic Acid market. “Said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm promoting ChemAnalyst worldwide.
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