The consumer electronics market is largely correlated to uses of adipic acid. While, the consumer market is in expansion mode, the scope of expansion widens for adipic acid. Chemically, it is a white crystalline powder used in production of other polymers, plasticizers, coatings and detergents. It is an organic compound mainly responsible as a precursor for nylon production. In the consumer market, the uses of adipic acid encompass dish washing activities in restaurant and hotels. Simply put, it is a chemical product that is used directly or indirectly in some form in the consumer market.
The market is highly driven constant research for production, rise in demand for consumer electronics, good and electronic appliances. Additional rise is mainly due to the technological advances in the textile industry. Manufacture emphasis on producing high capacity chemical products having versatility as a key feature.
Adipic acids find use for applications like electrical appliances, fibres, automotive, film coating and industrial goods. Film coating and industrial goods account for a greater market share.
Asia-Pacific regions dominate the market growth in the near future as the economies in Asia-Pacific being the chief producers and consumers. Huge population is a greater advantage for market growth with soaring demands for electrical appliances, automotive and other industrial goods. Additionally, the market is subject to witness relative market growth in the near future in terms of higher production. The pricing scenario is expected to rise as the production is high due to investments made by China.
North America and Europe market is likely to grow at a steady pace owing to manufacture emphasis on R&D for production technologies. However, the market scenario is somewhat different than North America as the European market witness shortage of production.
Prominent players profiled in the adipic acid market report include Ascend Performance Materials Inc, Asahi Kasei Corporation, BASF SE, DSM, Lanxess AG, PetroChina Liaoyang Petrochemical, Rennovia Sumitomo Chemical Co Ltd, Lanxess AG and Rhodia.