Synthetic & Bio-Based Adipic Acid Trends and Forecast
The future of the global synthetic & bio-based adipic acid looks promising with opportunities in the plasticizer, lubricant, and coating applications. The global synthetic & bio-based adipic acid is expected to reach an estimated $13.7 billion by 2030 with a CAGR of 5.3% from 2024 to 2030. The major drivers for this market are the rising demand for eco-friendly materials and the emergence of nylon 6.6.
Lucintel forecasts that nylon 6,6 fiber is expected to witness highest growth over the forecast period.
APAC is expected to witness highest growth over the forecast period due to presence of key players in the region.
A more than 150-page report is developed to help in your business decisions.
Emerging Trends in the Synthetic & Bio-Based Adipic Acid Market
Emerging trends in the synthetic and bio-based adipic acid markets are redefining the scope and future of production processes and applications. Technological advancements and the upsurge in the quest for viable innovative solutions continue to fast-track these trends. Such developments are important for various stakeholders to understand how the market operates and where their investments are positioned relative to growth opportunities and the creation of innovations and new applications.
• Incorporation of Bio-Adipic Acid: Bio-based adipic acid is an important trend due to growing environmental concerns and pressure to comply with regulations. As a result, bio-based adipic acid derived from renewable feedstocks has been developed, making it more environmentally friendly than traditional petrochemical methods. This requires advancements in production technologies, including fermentation and catalytic processes that focus on increasing efficiency and scalability. There is also a shift in preference from traditional oxalate use in the depolymerization process in favor of equivalent polyols, driven by rising customer demand for green products and companies’ sustainability strategies.
• Catalytic Processes: Catalytic processes are improving the production of both synthetic and bio-based adipic acid. The development of new catalytic technologies aims to decrease costs and environmental footprints while improving production efficiency and selectivity. Cost and environmental goals are achieved through innovations that include new reactor designs and the use of heterogeneous catalysts. These improvements enable the synthesis of adipic acid with less energy and emissions, leading to more economically friendly processes.
• Rising Emphasis on Sustainability: The adipic acid market is characterized by rising trends in sustainability measures. These efforts encourage businesses to promote environmentally friendly production methods, including the use of renewable raw materials, low-energy processes, and waste minimization. Sustainability trends are pushing the boundaries of adipic acid production, both synthetically and through biomass, by comparing carbon footprints and seeking to reduce harmful environmental impacts.
• Increase in Production Capacity: An important trend is the increase in production capacity due to the high consumption of adipic acid. New production facilities are being constructed, and existing ones are being enhanced to meet rising market demand. This expansion is not limited to synthetic adipic acid but also applies to bio-based production. Increased production capacity aims to avert disruptions in the supply chain amid the ÄX%$%Xnew normalÄX%$%X while ensuring the continuous provision of adipic acid for specific industries such as textiles, automotive, and packaging.
New developments in the synthetic and bio-based adipic acid markets—including increased bio-based substitutes, improvements in catalytic technologies, heightened attention to environmental issues, growth in production capacity, and the need for effective strategic alliances—are changing the market landscape. These trends are bridging the gap of innovation, enhancing process and production operations, and reducing pollution. As these trends progress, they will become increasingly significant in the development of copolyester and related applications.
Recent Developments in the Synthetic & Bio-Based Adipic Acid Market
The synthetic and bio-based adipic acid market is changing rapidly due to factors such as technological advancements, new regulations, and shifts in customer preferences. These trends reflect the industryÄX%$%Xs progression toward more eco-friendly production processes and increasing concerns about environmental protection. Major companies are striving to enhance production efficiency, improve product quality, and comply with rigorous environmental standards in target markets.
• Recent Advancements in Biotechnological Processes: Recent advancements have enhanced the efficiency of bio-based adipic acid production. Modified organisms, fermentation broth optimization, and the availability of advanced organisms are driving improved production rates and reduced production costs. Such developments ensure that bio-based adipic acids are competitive with other commercialized chemicals, increasing production profitability and making these processes more viable.
• Emergence of New Regulatory Frameworks: New regulatory frameworks in major target markets are increasing compliance for bio-based adipic acids. Environmental regulations are becoming stricter, and governments are encouraging environmentally friendly policies. These changes are fueling growth in the bio-based industries by financing the development of bio-based technologies and prompting manufacturers to shift to greener production methods.
• Increasing Demand for Environmental Sustainability: The synthetic and bio-based adipic acid market is shaped by increased consumer demand for environmental sustainability. Growing environmental concerns have led consumers to seek greener alternatives to conventional products. This trend compels manufacturers to replace standard adipic acid with bio-based alternatives to meet consumer demands and improve product marketability.
• Industrial and Academic Collaborations: Collaborations supporting the production of bio-based adipic acid are becoming increasingly important. These partnerships are also fostering the development of new biopolymer applications with advanced functionalities. The intersection of science and business is essential for the advancement of bio-based solutions and their market potential.
Market intelligence reports for the synthetic and bio-based adipic acid sector reflect a significant shift toward sustainability and innovation. Driving factors behind bio-oriented solutions include innovation, technological readiness, regulatory support, and consumer demand. These factors are revolutionizing the industry landscape, making bio-based adipic acid more competitive and relevant for diverse applications. These changes are expected to significantly influence the future application of adipic acid as the industry evolves.
Strategic Growth Opportunities for Synthetic & Bio-Based Adipic Acid Market
The synthetic and bio-based adipic acid market provides numerous options for companies aiming to deliver services in the near future, driven by increasing demand for sustainable and innovative materials. As such, companies are focusing on specific applications to leverage these opportunities and expand their market presence.
• Automotive Applications: There is a rising trend in the utilization of bio-based adipic acid in automotive applications to improve the formulation of lightweight, high-performance materials and optimize functional composites production. Strategies that reduce emissions while increasing vehicular fuel economy have heightened interest in bio-polymers and bio-composites in the automotive industry. This opportunity allows producers to innovate and create sustainable products that align with industry goals.
• Textiles and Apparel: In the textiles and apparel sector, bio-based adipic acid is incorporated into the production of durable and eco-friendly fabrics. Rising consumer demand for bio-based fibers and coatings stems from a shift in consumer behavior toward sustainable and ethically made clothing. This presents a market opportunity for companies to develop new textile products.
• Consumer Goods: In the consumer goods sector, bio-based adipic acid is being used to manufacture packaging films, household items, and more. There is increasing demand for bio-based products due to a greater focus on environmental impact and product sustainability. This growth opportunity enables companies to enhance their product lines and expand their market presence.
• Construction Materials: Bio-based compounds are gaining traction in the construction industry for high-performance coatings and adhesives that incorporate bio-based adipic acid. Advocacy for sustainable building approaches and the use of green materials are driving the adoption of bio-based components. Companies are seizing this trend to create new construction materials that meet green building requirements.
Access to these growth opportunities in the synthetic and bio-based adipic acid market results from the need for ethical alternatives to existing solutions. Growth sectors include automotive, textiles, consumer goods, construction materials, and electronics. By capitalizing on these opportunities, companies can enhance market strength and support the new paradigm of environmentally friendly and efficient materials.
Synthetic & Bio-Based Adipic Acid Market Driver and Challenges
The synthetic and bio-based adipic acid market faces various drivers and challenges. The interplay among technological advancements, legislative changes, and market dynamics is substantial.
The factors driving the synthetic and bio-based adipic acid market include:
• Technological Advancements: Technological advancements are a significant driver in the synthetic and bio-based adipic acid market. Innovations in biotechnological processes and developments in production techniques have improved effectiveness while reducing costs. These improvements make bio-based adipic acid attractive and encourage its use in various applications.
• Regulatory Support: Supportive regulatory frameworks for the production of bio-based adipic acid enhance market demand. Governments are increasingly enacting stricter environmental regulations and providing incentives for adopting sustainable practices. This regulatory support promotes investments in bio-based technologies and transitions toward greener chemical production methods.
• Consumer Demand for Sustainability: Growing consumer demand for sustainable products is fueling market growth. As consumers become more environmentally conscious, they seek greener options for everyday products. This shift in consumer preferences prompts manufacturers to incorporate bio-based adipic acid into their offerings to remain competitive and expand their product range.
Challenges in the synthetic and bio-based adipic acid market include:
• Cost Competitiveness: The issue of cost competitiveness remains significant in the synthetic and bio-based adipic acid market. Although bio-based adipic acid is associated with reduced greenhouse gas emissions, production costs often exceed those of synthetic polyamide. Companies are seeking ways to address production costs through technological innovations and economies of scale to enhance market competition.
• Supply Chain Disruption: The means of production significantly impact total sales of bio-based adipic acid. Fluctuations in feedstock availability can disrupt the supply chain or lead to price increases. To mitigate these risks, companies are exploring alternative raw material supply chains and enhancing cost, quality, and delivery reliability.
Given the aforementioned drivers and challenges, municipalities and local governments play a crucial role in the synthetic and bio-based adipic acid market. Existing drivers, such as emerging technologies, legislation, and consumer behavior, are gaining momentum. However, various technological or economic barriers create competitive thresholds in this field. Understanding how to navigate these obstacles is essential for identifying opportunities in a rapidly growing market and addressing the challenges of the current marketing environment.
List of Synthetic & Bio-Based Adipic Acid Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies synthetic & bio-based adipic acid companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the synthetic & bio-based adipic acid companies profiled in this report include-
• Asahi Kasei
• Ascend Performance Materials
• BASF
• Liaoyang Petrochemical
• Radici
• Rhodia
• Shangdong Haili (Bohui)
Synthetic & Bio-Based Adipic Acid by Segment
The study includes a forecast for the global synthetic & bio-based adipic acid by product type, type, application, and region.
Synthetic & Bio-Based Adipic Acid by Product Type [Analysis by Value from 2018 to 2030]:
• Nylon 6,6 Fiber
• Nylon 6,6 Resin
• Polyurethanes
• Adipate Esters
• Others
Synthetic & Bio-Based Adipic Acid by Type [Analysis by Value from 2018 to 2030]:
• Synthetic Adipic Acid
• Bio-Based Adipic Acid
Synthetic & Bio-Based Adipic Acid by Application [Analysis by Value from 2018 to 2030]:
• Plasticizers
• Lubricants
• Coatings
• Others
Synthetic & Bio-Based Adipic Acid by Region [Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
Country Wise Outlook for the Synthetic & Bio-Based Adipic Acid Market
Improved production technologies and movements advocating eco-friendly approaches are rapidly transforming the synthetic and bio-based adipic acid market. These developments are relevant across all markets, but regional perspectives influence standards in the ethnocentric context. The following reviews recent developments in the adipic acid market across the United States, China, Germany, India, and Japan.
• United States: The synthetic adipic acid market in the United States remains strong due to its use in automotive and textile industries, among others. However, growing interest in bio-adipic acid is emerging as companies and researchers seek eco-technological solutions. Recent developments include the introduction of pilot programs for bio-based production that utilize renewable raw materials to comply with green standards and policies. There is increasing interest and funding for research, development, and efficiency in bio-based adipic acid production processes.
• China: China is rapidly developing the synthetic adipic acid market, focusing on increasing production to meet local and export needs. The country is also prioritizing funding for technologies that develop bio-based adipic acids to reduce environmental pollution and comply with regulatory requirements. Recently, new plants for producing bio-based adipic acid have been launched, and partnerships between science and industry have formed to create greener manufacturing processes. China’s efforts aim to minimize petrochemical reliance and build sustainability within production processes.
• Germany: Germany is the first country in Europe to invest in bio-based adipic acid production methods as part of its biobased economy. The country has implemented strategies to develop and encourage the growth of renewable feedstocks in place of fossil-based ones for adipic acid production. Recent advancements include further development of catalytic processes and fermentation technologies for bio-based production to enhance enzymatic biotechnology. GermanyÄX%$%Xs focus on regulatory issues has spurred the development of new technologies, with significant investments in research and constructing industrial processes for bio-based adipic acid manufacturing.
• India: The production of synthetic adipic acid is rising in India, driven by the expansion of the automotive and textile industries. However, there is also an increasing demand for bio-based adipic acid aligned with the nation’s improved environmental manufacturing practices. Recent joint efforts between Indian and foreign industrial concerns aim to create bio-based production methods. India seeks to utilize local biomass materials for manufacturing bio-based adipic acid to enhance product sustainability and reduce reliance on imported raw materials.
• Japan: Japan is actively developing both bio-based and synthetic adipic acids. The country is enhancing synthetic production while seeking bio-based alternatives to traditional processes. Recent changes include the adoption of novel catalytic processes and the establishment of research collaborations focused on alternative bio-production methods. JapanÄX%$%Xs direction in technological advancement and environmental sustainability is reshaping adipic acid production to minimize environmental impacts while maintaining competitiveness in the economy.
Features of the Global Synthetic & Bio-Based Adipic Acid
Market Size Estimates: Synthetic & bio-based adipic acid size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Synthetic & bio-based adipic acid size by product type, type, application, and region in terms of value ($B).
Regional Analysis: Synthetic & bio-based adipic acid breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different product types, types, applications, and regions for the synthetic & bio-based adipic acid.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the synthetic & bio-based adipic acid.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
If you are looking to expand your business in this or adjacent markets, then contact us. We have done hundreds of strategic consulting projects in market entry, opportunity screening, due diligence, supply chain analysis, M & A, and more.
FAQ
Q.1 What is the synthetic & bio-based adipic acid size?
Answer: The global synthetic & bio-based adipic acid is expected to reach an estimated $13.7 billion by 2030.
Q.2 What is the growth forecast for synthetic & bio-based adipic acid?
Answer: The global synthetic & bio-based adipic acid is expected to grow with a CAGR of 5.3% from 2024 to 2030.
Q.3 What are the major drivers influencing the growth of the synthetic & bio-based adipic acid?
Answer: The major drivers for this market are rising demand for eco-friendly materials and emergence of nylon 6.6.
Q4. What are the major segments for synthetic & bio-based adipic acid?
Answer: The future of the synthetic & bio-based adipic acid looks promising with opportunities in the plasticizer, lubricant, and coating applications.
Q5. Who are the key synthetic & bio-based adipic acid companies?
Answer: Some of the key synthetic & bio-based adipic acid companies are as follows:
• Asahi Kasei
• Ascend Performance Materials
• BASF
• Liaoyang Petrochemical
• Radici
• Rhodia
• Shangdong Haili (Bohui)
Q6. Which synthetic & bio-based adipic acid segment will be the largest in future?
Answer: Lucintel forecasts that nylon 6,6 fiber is expected to witness highest growth over the forecast period.
Q7. In synthetic & bio-based adipic acid, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to witness highest growth over the forecast period due to presence of key players in the region.
Q.8 Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the synthetic & bio-based adipic acid by product type (nylon 6,6 fiber, nylon 6,6 resin, polyurethanes, adipate esters, and others), type (synthetic adipic acid and bio-based adipic acid), application (plasticizers, lubricants, coatings, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Synthetic & Bio-Based Adipic Acid Market, Synthetic & Bio-Based Adipic Acid Market Size, Synthetic & Bio-Based Adipic Acid Market Growth, Synthetic & Bio-Based Adipic Acid Market Analysis, Synthetic & Bio-Based Adipic Acid Market Report, Synthetic & Bio-Based Adipic Acid Market Share, Synthetic & Bio-Based Adipic Acid Market Trends, Synthetic & Bio-Based Adipic Acid Market Forecast, Synthetic & Bio-Based Adipic Acid Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.