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North America Adipic Acid Market is Expected to Reach $1.7 Billion in 2018 - New Report by MicroMarket Monitor
Date:7/23/2014

(PRWEB) July 23, 2014

Adipic acid is an intermediate chemical for polyamide 66, which is mainly a high-performance plastic, often referred to as engineering thermoplastics. These involve an extensive range of materials, depending on the monomers employed. Due to the high production growth rate in the automotive industry and the increasing number of developing countries, the Asia-Pacific region has the maximum adipic acid market share, followed by Europe and North America. Adipic acid in polyamide 66 is used widely in many applications such as automotive, consumer goods, electrical/electronics, energy, textile, and industrial coatings, among others.

Crude oil-based polyamide manufacturers are also focusing on bio-based methods. Thus, conventional adipic acid producers are also focusing on bio-based methods which are accepted by the automotive and consumer goods industry to produce bio polyamide 66 based parts.
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The bio-based polyamide market has enormous potential and opportunity, with many obstacles to be overcome by the petroleum-based polyamides. In order to gain acceptance from more customers, the bio-based polyamide is expected to be more cost and performance-effective than the petro-based polyamides. The global adipic acid application market is expected to grow at a CAGR of 4% from 2014 to 2019, and is projected to reach a market value of $7.5 billion by 2019.

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