The adipic acid market is dominated by the respective regional players along with the presence of few global players in the key growth markets.
Asahi Kasei Corporation (Japan), Ascend Performance Materials Inc. (U.S.), BASF SE (Germany), Invista (U.S.), Lanxess Ag (Germany), PetroChina Liaoyang Petrochemical (China), Radici Group (Italy), Rhodia (France), Shandong Haili Chemical Industry Company Ltd. (China), and Shandong Hongye Chemical Company, Ltd. (China) are the most active and key players in the adipic acid market.
The adipic acid market is dominated by the respective regional players along with the presence of few global players in the key growth markets. The Asia-Pacific region is the largest market, followed by Europe, in the global adipic acid industry. Various market players have integrated their value chains so as to reduce the impact of external environment on product economics.
In terms of market activities, investments and expansions were the most preferred development strategies by the players to increase their product portfolio, market share, and geographic reach.
In 2012, BASF SE invested around $15.9 million (€10million) to expand its capacity for cyclohexane oxidation at its Antwerp Verbund site by about 50,000 tons/year. The geographical re-balancing of BASF activities has resulted in a proportional increase of the adipic acid industry in the European market.
In 2011, Shandong Hongye Chemical Industrial Group (China) also started its 140,000 tons/year adipic acid (ADA) plant at Yuncheng county in Shandong province. This expansion helped the company to focus particularly on the South China region and meet the demand supply gap by 2015.
Related Reports:
Adipic Acid Market by Application (Polyamide 66, Polyurethane, Adipic Esters, & Others), by Material Type (Engineering Plastics & Fibers) & by Geography (North America, Europe, Asia-Pacific, & ROW) - Global Trends & Forecast to 2019
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