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The major key drivers contributing to the growth of the global adipic acid market include the increasing adoption of adipic acid in the automotive industry for the manufacturing of automotive parts by durable, chemical resilient, and strong fibers and the growing usage of adipic acid in electrical & electronics and consumer goods industry.
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This report researches and evaluates the impact of COVID-19 outbreak on the market, including potential opportunities and challenges, drivers, and risks associated with the market. We present a detailed assessment of market growth based on numerous scenarios.
Market Overview The market report offers a detailed analysis of the market size, regional and country-level market size, segmentation, market growth, market share, competitive landscape, and the impact of domestic and global leading players.
Market Drivers The major key drivers contributing to the growth of the global adipic acid market include the increasing adoption of adipic acid in the automotive industry for the manufacturing of automotive parts by durable, chemical resilient, and strong fibers and the growing usage of adipic acid in electrical & electronics and consumer goods industry. Nylon 66 is a significant shareholder that is surging the demand for adipic acid and has a high adoption in various industries such as automotive. This factor is further opening new doors for the growth of the adipic acid market size. Moreover, the rapid expansion in the construction industry and packaging industries has resulted in an increase in the usage of adipic acid, which will further accelerate the market growth.
Adipic acid offers numerous exceptional benefits such as low consumption of raw materials, reliability, durability, lightweight, strength, high absorption capacity, and reduced consumption of energy. The combination of these factors is creating innumerable opportunities for the growth of the global adipic acid market. On the other edge of the spectrum, the presence of stringent environmental regulations in several regions and the growing use of hybrid fibers in the market are the major factors that are hampering the growth of the market.
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