Adipic,acid,market,size,likely business, insurance Adipic acid market size is likely to exceed 4 million tons b
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Bio adipic acid market size is likely to see significant growth as planned capacities come online over the next few years. Adipic acid market size was estimated at over 2.7 million tons in 2015 and is likely to exceed 4 million tons by 2023, growing at a CAGR of more than 4.5%. Adipic acid (ADA) market revenue was over USD 4.5 billion in 2015 and is likely to reach USD 7.4 billion by 2023.Nylon 6,6 was the largest application and accounted for more than 80% of the total volume in 2015. Polyurethane (PU) application is likely to be the fastest growing at gains of over 5.2% from 2016 to 2023.Asia Pacific adipic acid market size was estimated over 940 kilo tons in 2015 and is likely to witness highest gains of over 5% from 2016 to 2023. North America market is likely to be worth more than USD 2 billion by 2023 with expected gains of over 6%.The bio adipic acid market is still at the infancy stage as few companies have focused on research to commercialize production. Companies such as Verdezyne, DSM, BioAmeber, Ameris, Aemethis, Genomatica and Rennovia have successfully designed production technology to develop 100% bio ADA and would be commercializing the product over the coming years. Adipic acid market price trend is expected to remain stable between USD 1.6 to USD 1.9 per kilo.Increasing nylon 6.6 demand for durable application such as automobiles, textile, carpets, tire-cod and technical fibers is likely to drive bio adipic acid market. Industry participants are vying to manufacture 100% bio based nylon for industrial applications owing to stringent government policies over environmental concerns. Global nylon 6,6 market was estimated at over 1.3 million tons in 2013 and is likely to grow at a CAGR of over 4% from 2016 to 2023.In 2013, Rennovia announced successful completion of 100% bio based nylon 6,6. It is based on combination of Rennovia’s RENNLON bio based adipic acid and hexamethylenediamine (HMD). Rennovia is able to manufacture both the products through its patented chemical catalytic process technology. Rennovia bio adipic acid production is through anaerobic oxidation of glucose to obtain glucaric acid which further goes hydrooxygenation.Rennovia products are estimated to be cost competitive in comparison to petrochemical based products. The company is targeting to commercialize bio-based adipic acid market with an initial capacity of 135 kilo tons per annum by the end of 2018. Article Tags: Adipic Acid Market, Acid Market Size, Adipic Acid, Acid Market, Market Size, Million Tons, From 2016
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