3-Oxoadipic Acid market size is forecasted to reach US$440 million by 2030, after growing at a CAGR of 3.6% during the forecast period 2024-2030.

3-Oxoadipic Acid market size is forecasted to reach US$440 million by 2030, after growing at a CAGR of 3.6% during the forecast period 2024-2030. This is attributed to the growing textile and automotive industries. 3-Oxoadipic acid is also known as 3-ketoadipate, 3-Oxohexanedioic acid, or beta-oxoadipate, and belongs to the class of organic compounds known as medium-chain keto acids. 3-Oxoadipic acid has excellent physical properties such as durability, lightweight nature, and excellent energy absorption. So, it is used in polyamide 66, polyvinyl chloride (PVC) resins, and polyurethane. It is also used in the chemical industry to create coatings, plasticizers, and resins. Polyamides such as nylon polymers and polyester polyols are used in the production of hot-melt adhesives mainly for shoe soles and other applications, and this is anticipated to grow swiftly. Nylon 66 industrial filament is one of the rapidly growing application areas for 3-oxoadipic acid during the forecast period. It is used increasingly to manufacture lightweight components in the automotive industry and thus driving the market growth.

The booming global construction sector is expected to fuel the demand for adipic acid, particularly in building materials like exterior panels, insulation, and electronic housing. Additionally, the growth in automotive and packaging industries is further bolstering market expansion. Consequently, the surge in construction and automotive sectors is anticipated to propel the adipic acid market, leading to significant growth prospects in the forecasted period.

The COVID-19 pandemic brought life to a standstill. Measures to control the spread of the virus such as lockdowns, border closures, travel bans and stay-at-home mandates led to the shutdown of various factories and workplaces in several countries. As a result, these measures have had wide-ranging economic effects which are still being felt across the core industries such as aerospace and automotive industries. Other issues such as supply chain disruptions have led to raw material delays which result in lower demand for 3-oxoadipic acid in 2020. However, as economies gradually reopen and vaccination efforts progress, there's a potential for recovery as noticed in 2023.

The report: “3-Oxoadipic Acid Market – Forecast (2024-2030)”, by IndustryARC, covers an in-depth analysis of the following segments of the 3-Oxoadipic Acid Market.

By Application: Polyamides (Nylon 6,6 Fiber, Nylon 6,6 Resin, and Others), Polyurethanes, Plasticizers, Glass Interleaving Powder, Resins (Unsaturated Polyester Resins, Wet Paper Resins, and Others), Coatings, Intermediates and Others

By End-Use Industry: Textile (Apparel, Upholstery, Carpets and Others), Electrical & Electronics, Automotive (Passenger Vehicles, Light Commercial Vehicles, Heavy Commercial Vehicles), Aerospace (Commercial, Military, and Others), Marine (Passenger, Supply Vessels, Cargo, and Others), Building and Construction (Residential and Commercial), Plastic and Others

By Geography: North America (USA, Canada, and Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia, Belgium, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and New Zealand, Indonesia, Taiwan, Malaysia, and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), and Rest of the World (Middle East, and Africa).

• Asia-Pacific dominates the 3-oxoadipic acid market, owing to the growing textile industry in the region. According to Invest India, the domestic technical textile market in India for synthetic polymers is projected to reach $11.6 billion by 2027.

• 3-Oxoadipic acid is utilized as a monomer in the manufacturing of polyamide 66, which is a widely used ingredient in advanced engineering products that are utilized in automobile, construction, footwear, furniture, and electrical and electronics industries.

• The major opportunity for this market is high research spending and growing awareness in society.

The polyamides segment held the largest share and is estimated to rise at a CAGR of 3.9% during the forecast period. 3-Oxoadipic acid is mainly used to manufacture polyamide 66, owing to its excellent properties such as durability, lightweight nature, and excellent energy absorbing property. There is a rising demand for lightweight polyamide 66 from auto component manufacturers. The lightweight feature of nylon, an important polyamide, makes it an important material used in the production of lightweight vehicles. A 10% reduction in vehicle weight can result in a 6%-8% fuel economy improvement. According to estimates from the Vehicle Technologies Office (VTO), using lightweight components in a quarter of the U.S. fleet could save more than 5 billion gallons of fuel annually by 2030. It has been estimated that the worldwide population will grow to more than 10 billion people by 2050. Hence, global vehicle sales will reach an all-time high. Therefore, the need to improve the use of lightweight materials in current transport systems becomes even more critical, and would also help in addressing the international commitment to net zero. Increasing demand from the automobile industry for the manufacturing of lightweight vehicles will result in the polyamides segment dominating the market during the forecast period.

The textiles segment held the largest share of more than 28% in the 3-Oxoadipic Acid market in 2023. 3-Oxoadipic acid is used to produce polyamide and polyurethane, both of which find applications in the textile industry. The polyamide fibre includes nylon. Nylon fibres are tough, strong, durable fibres that are useful in a wide range of textile applications. Nylon fabric was originally marketed as an alternative to silk stockings. Sportswear manufacturers include nylon fabric in their textile blends for enhanced elasticity and lightness. It finds applications in carpets. Polyurethane coated fabrics are durable and abrasion-resistant, yet soft, light and breathable. As such, they are used to create more comfortable and sophisticated weatherproof clothing such as sports anoraks and light rain clothes. Polyurethane coatings are also used for leather-like materials, such as imitation suede, and as man-made leather for garments that not only look like leather, but also have similar stretch, stiffness, and permeability properties. As a result, the growing textile industry is projected to fuel the growth of the global 3-Oxoadipic Acid market over the forecast period.

The Asia-Pacific region held the largest share of 40% in the 3-Oxoadipic Acid market in 2023. owing to the growing end-use industries in the region. There are a large number of polyurethane manufacturing companies located in China, owing to the high demand for polyurethane foams in several end-use industries because of their durability, versatility, low cost, and high functionality. These foams are considered excellent and safe filling materials for mattresses and seating cushions. They are employed in several industries including construction and building, automotive, furniture and bedding, footwear, electronic appliances, and coatings. 3-Oxoadipic acid is also used in plasticizers. Plasticizers are among the most widely used additives in the plastic industry. They are also usually cheaper than other additives used in polymer processing. Plasticizers make plastics elastic, extensible, and flexible. Besides, the surging uses of plasticizers in the building and construction sector further contribute to the growth of this market. According to the Indian Department for Promotion of Industry and Internal Trade (DPIIT), FDIs in the construction development sector and construction activities stood at US$25.93 billion and US$23.99 billion respectively, between April 2000 and December 2020. Thus, with the growing building & construction industry, there will be an upsurge in the demand for plasticizers, which is anticipated to drive the 3-oxoadipic acid market in the Asia-Pacific region.

3-Oxoadipic acid is used to manufacture polyamide 66. There is a rising demand for lightweight polyamide from auto component manufacturers. Nylon, an important polyamide, is lightweight. This makes it important in the production of lightweight vehicles. Lightweight materials offer great potential for increasing vehicle efficiency. By using lightweight structural materials, automobiles can carry additional advanced emission control systems, safety devices, and integrated electronic systems without increasing the overall weight of the vehicle. Lightweight materials are also highly sought after in electric vehicles. Using lightweight materials in these vehicles can offset the weight of power systems such as batteries and electric motors, improving the efficiency and increasing their all-electric range. Alternatively, the use of lightweight materials could result in needing a smaller and lower cost battery while keeping the all-electric range of plug-in vehicles constant. According to Aurovista24, sales of full-electric vehicles in Germany was 524,219 units in 2023. Thus, increasing automation production will require more lightweight automotive components, which acts as a driver for the 3-oxoadipic Acid market during the forecast period.

3-Oxoadipic acid is used in the textile industry to mainly produce polyamide fibres. The growing textile industry in Asia is the driving factor for the growth of this market. Availability of cost-effective labor and low initial investments in this region are the significant factors influencing manufacturers to set up their manufacturing units. China and India are the key producers as well as consumers of synthetic fabrics. India is one of the leading man-made fabric manufacturers in the world. Indian fabrics are known for their outstanding quality, colors, and durability. Heavy investment, continuous development, new product mix and strategic business expansion is the reason why Indian fabrics occupy a large share in the Asian and global markets. Nylon also finds major application in manufacturing industrial yarns and textiles. The textile industry in China is also booming with increasing investments and government support from the 14th Five-year Plan. Thus, it is anticipated that with the growing Asian textile industry, there will be an upsurge in the demand for polyamides, which will subsequently drive the 3-Oxoadipic Acid market growth during the forecast period.

Several countries, regions, and cities have recently introduced regulations and legislations focused on plastic. These are primarily aimed at use and disposal to reduce consumption and improve waste management. Over 60 countries have implemented bans and levies on plastic packaging and single-use waste. Although there are currently no policies or regulations that directly target the primary production of plastics, companies involved in producing raw materials for plastics may be affected indirectly through policies that aim to boost plastic recycling and reduce fossil fuel dependence and greenhouse gas emissions. As 3-oxoadipic acid is used in plasticizers which is one of the most widely used additives in the plastic industry, these factors have become a challenge in the 3-oxoadipic acid market.

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the 3-Oxoadipic Acid market. 3-Oxoadipic Acid market top companies are:

• In September 2023, Celanese announced that it will be partnering with Anellotech to develop a new process for producing adipic acid from biomass. The new process is expected to be more sustainable and efficient than traditional production methods.

• In August 2023, LANXESS announced that it will be investing in the development of new adipic acid production technologies. The company is aiming to develop more sustainable and efficient production methods.