Synthetic And Bio-Based Adipic Acid Market - Global Industry Analysis, Market Size, Share, Growth And Forecast, 2012 - 2018
Albany, NY -- (SBWIRE) -- 03/25/2015 -- A recent research report published by Transparency Market Research presents in-depth analysis of the global synthetic and bio-based adipic acid market. As per the statistics provided by the report, the global market for synthetic and bio-based adipic acid was valued at US$4,898.5 million in 2010. The market is further expected to reach US$8063.1 million by 2018 at a progressive CAGR of 5.8% between the years 2013 and 2018. The research report is titled "Synthetic and Bio-Based Adipic Acid Market - Global Industry Analysis, Market Size, Share, Growth and Forecast, 2012 - 2018".In terms of volume, the global market for adipic acid was assessed at 2914.8 kilo ton in 2010 and is believed to touch 4125.3 kilo ton in the year 2018. As per the report, the market is expected to show a progressive CAGR of 4.5% for volume between 2013 and 2018.
Adipic acid is the most commonly used dicarboxylic acid in the industrial sector. The production of synthetic and bio-based adipic acid consists of a two-step process. The first part includes the production of cyclohexanone or cyclohexanol, also known as ketone alcohol oil. In the second part, the ketone alcohol oil is converted into adipic acid through nitric acid reactions. The process of nitric acid oxidation of ketone alcohol oil also produces huge amount of N2O (nitrous oxide) and NOx.
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R&D departments have been developing innovative techniques through which adipic acid can be produced. Some of the techniques are biosynthesis, through oxidation of benzene, by direct oxidation of cyclohexane, and via butadiene carbonylation. The primary use of adipic acid is as a dicarboxylic acid in the industrial sector. The main application of adipic acid is done in the production of nylon, which is used in composite materials. These materials are mostly used in the production of automobile components. Other sectors in which adipic acid finds application are food additives, low-temperature lubricants, paints and coatings, polyurethane resins, plastic additives, and other synthetic fibers.
The report has segmented the global synthetic and bio-based adipic acid market on the basis of application into polyurethanes; nylon 6, 6 resins; adipate esters; nylon 6, 6 fibers; and others. As per the research, in the past few years the global demand for bio-based adipic acid has been increasing owing to the environmentally viable elements used in it. However, the bio-based adipic acid market is in its initial phase and is expected to be commercialized between 2013 and 2014. Some of the key players such as Verdezyne, DSM, and Rennovia are working to come up with innovative ideas to increase the demand from the global synthetic and bio-based adipic acid market.
Browse the full Synthetic And Bio-Based Adipic Acid Market - Global Industry Analysis, Market Size, Share, Growth And Forecast, 2012 - 2018 report at http://www.transparencymarketresearch.com/synthetic-and-bio-based-adipic-acid.html
On the flip side, environmental concerns in relation with the usage of adipic acid and the rising prices of crude oil are acting as a barrier to the global adipic acid market. Due to these concerns, the demand pattern is steadily shifting from synthetic to bio-based adipic acid. Bio-based adipic acid provides clean solutions and is also economically viable in comparison with the synthetic type of adipic acid.
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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