India Adipic Acid Market Size and Forecast

Adipic acid is a white crystalline powder that is used in the production of nylon, polyurethane, and other synthetic fibers. It is also used in the production of plasticizers, lubricants, and other industrial chemicals. The India adipic acid market is expected to grow at a CAGR of 4.5% during the forecast period (2021-2026).

Overview

The India adipic acid market is driven by the increasing demand for nylon fibers in the textile industry. Nylon fibers are used in the production of clothing, carpets, and other textiles. The growth of the automotive industry in India is also driving the demand for adipic acid. Adipic acid is used in the production of automotive parts such as bumpers, fenders, and dashboards.

The India adipic acid market is segmented by application into nylon 6,6 fibers, polyurethane, adipate esters, and others. Nylon 6,6 fibers are the largest application segment, accounting for more than 50% of the market share. The polyurethane segment is expected to grow at the highest CAGR during the forecast period.

Key Players in the India Adipic Acid Market Size and Forecast

The key players in the India adipic acid market include Asahi Kasei Corporation, BASF SE, Invista, Lanxess AG, Radici Group, and Shandong Haili Chemical Industry Co. Ltd. These companies are focusing on expanding their production capacities to meet the growing demand for adipic acid in India.

Asahi Kasei Corporation is one of the leading players in the India adipic acid market. The company has a production capacity of 100,000 tons per year and is planning to expand its production capacity to 150,000 tons per year by 2022. BASF SE is another major player in the market. The company has a production capacity of 165,000 tons per year and is planning to expand its production capacity to 220,000 tons per year by 2025.

Market Challenges

The India adipic acid market is facing several challenges. The volatility of raw material prices is one of the major challenges faced by the market. The price of benzene, which is a key raw material used in the production of adipic acid, is highly volatile. The fluctuation in the price of benzene affects the profitability of adipic acid manufacturers.

The environmental concerns associated with the production of adipic acid are also a major challenge faced by the market. The production of adipic acid generates a significant amount of greenhouse gases. The adipic acid manufacturers are focusing on developing sustainable production processes to reduce the environmental impact of adipic acid production.

Market Opportunities

The India adipic acid market is expected to grow at a significant rate during the forecast period. The increasing demand for nylon fibers in the textile industry is expected to drive the growth of the market. The growth of the automotive industry in India is also expected to drive the demand for adipic acid.

The adipic acid manufacturers are focusing on developing sustainable production processes to reduce the environmental impact of adipic acid production. The development of bio-based adipic acid is also expected to create new opportunities in the market.

Future of the India Adipic Acid Market Size and Forecast

The India adipic acid market is expected to grow at a significant rate during the forecast period. The increasing demand for nylon fibers in the textile industry and the growth of the automotive industry in India are expected to drive the growth of the market.

The adipic acid manufacturers are focusing on developing sustainable production processes to reduce the environmental impact of adipic acid production. The development of bio-based adipic acid is also expected to create new opportunities in the market.

Conclusion

The India adipic acid market is expected to grow at a significant rate during the forecast period. The increasing demand for nylon fibers in the textile industry and the growth of the automotive industry in India are expected to drive the growth of the market. The adipic acid manufacturers are focusing on developing sustainable production processes to reduce the environmental impact of adipic acid production. The development of bio-based adipic acid is also expected to create new opportunities in the market.