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(Construction.IndustryNews247.Com, September 18, 2018 ) The bio adipic acid market was valued as USD 4.28 billion in 2014 and expected to reach USD 6.27 billion by 2023, registering a compound annual growth rate of 4.32%. Adipic acid is widely used as dicarboxylic acid in the industries mainly for the production of nylons. The properties such as excellent energy absorbing, lightweight in nature, and durability have raised the demand of the product in the market. As due to immense use of nylon in textiles and automobile components there is a rise in the demand of the adipic acid in the market. Basically the market of the adipic acid is at the beginning stage as companies are focusing on the Research and Development department for the development of the product. While producing adipic acid harmful and toxic gases such are nitrogen gas are emitted into the environment and to reduce them is one of the challenging factor. The adipic acids are prepared by a chemical reaction of cyclohexanol and cyclohexanone which is also known as ketone alcohol oil with the nitrogen compounds.
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Application Outlook and Trend Analysis:
Adipic acids are basically used for the production of Nylon6,6 and Polyurethane. The Nylon6,6 market have acquired the largest share of the market and will continue to grow at a compound annual growth rate of XX%. On the other hand polyurethane will achieve a steady growth in the near future. Nylon6,6 are widely used for developing textiles and automobile parts and due to which there is rise in demand for this product. Bio-Polyurethane will soon replace the conventional based polyurethane which is mostly used in electronics and construction industry and thus increasing the production of bio based adipic acid.
End User Outlook and Trend Analysis:
Adipic acid are used in variety of end user application such construction, automobile, medical, food and electronics industry. Among this the Automobile sector has acquired the largest share in the adipic acid market globally. Adipic acids are used as flavorant in food industry and are used as for coatings the drugs in the medical industry. The demand for adipic acid in the food and medical industry will achieve a steady growth over the forecast period.
Regional Outlook and Trend Analysis:
North-American region has acquired the largest share of the adipic acid in 2014 and is expected to grow at a significant compound annual growth rate over the forecast period. Asia-Pacific region has also been the dominating due to rise in industrialization in countries such as China, Japan and India. On the other hand Europe and other Mid-Eastern regions market will grow at a steady pace.
Competition Insights:
The leading competitors for the production of Bio based adipic acid are PetroChina Liaoyang Petrochemical, Rhodia, Shandong Hongye Chemical Company, Ascend Performance Materials Inc., Asahi Kasei Corporation Invista, Lanxess Ag, Radici Group, Shandong, Haili Chemical Industry Company Ltd., and BASF SE, Ltd., and others.
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The Bio Adipic Acid is segmented as follows:
By Application:
Nylon 6,6
Polyurethane
By End User:
Automobile
Food Industry
Medical
Construction
Electronics
By Regions:
North America
U.S
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
Japan
China
Australia
India
South Korea
Southeast Asia
Rest of Asia Pacific
South America
Brazil
Argentina
Columbia
South Africa
Rest of South America
Middle East and Africa
Saudi Arabia
UAE
Egypt
Nigeria
South Africa
Rest of MEA
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Some of the key questions answered by the report are:
What was the market size in 2014 and forecast from 2015 to 2023?
What will be the industry market growth from 2015 to 2023?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?
Qurate Business Intelligence
Nehal Chinoy
+919881074592
nehal@qurateresearch.com
Source: EmailWire.Com 
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