Adipic Acid Market Updates

Adipic Acid Market size was valued at USD 8.5 Billion in 2023 and is poised to grow from USD 8.92 Billion in 2024 to USD 12.8 Billion by 2032, growing at a CAGR of 4.9% during the forecast period (2025-2032).

To create eco-friendly adipic acid for the end consumers, industry participants are constantly innovating and engaging in a number of mergers and acquisitions. In order to meet the needs of consumers in the global adipic acid market, key players are purchasing attractive raw materials to create innovative products. 'Solvay (Belgium) ', 'BASF (Germany) ', 'Ashland (United States) ', 'Evonik Industries (Germany) ', 'LyondellBasell (Netherlands) ', 'INEOS (Switzerland) ', 'Mitsui Chemicals (Japan) ', 'Sumitomo Chemical (Japan) ', 'Toray Industries (Japan) ', 'Huizhou Zhongkai Chemical (China)'

The packaging and consumer products sectors' rapid modernization and ongoing expansion would accelerate the market's growth pace. Growth will be aided by increased use of high-density plastic, improved lifestyles, and rising demand for sturdy furniture. The requirement to improve the quality of processed end-products as well as the growing demand for clean air and water are anticipated to drive the market ahead.

The demand for adipic acid in building elements including outside panels, insulation, and housing electronics is anticipated to increase rapidly with the growing construction sector. The expanding automotive and packaging sectors also fuel market expansion.

Asia Pacific dominated the global market. The rise in demand can be attributed to the product's expanding use as a food ingredient and in plastic manufacturing. Due to a decline in global auto sales during the pandemic, adipic acid consumption decreased. However, because of the increased need for pharmaceutical and personal care items, the pandemic has opened up opportunities for market growth.