Northern America: Adipic Acid Market 2024

Adipic Acid Market Size in Northern America

The North American adipic acid market expanded modestly to $X in 2022, with an increase of 2.1% against the previous year. The market value increased at an average annual rate of +1.6% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Adipic Acid Production in Northern America

In value terms, adipic acid production shrank slightly to $X in 2022 estimated in export price. In general, production, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 19% against the previous year. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Adipic Acid Exports

Exports in Northern America

In 2022, approx. X tons of adipic acid, its salts and esters were exported in Northern America; which is down by -6.8% against 2021 figures. In general, exports saw a abrupt downturn. The pace of growth appeared the most rapid in 2021 when exports increased by 25% against the previous year. The volume of export peaked at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, adipic acid exports surged to $X in 2022. Over the period under review, exports continue to indicate a noticeable reduction. The growth pace was the most rapid in 2021 with an increase of 51% against the previous year. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

The United States dominates exports structure, amounting to X tons, which was approx. 94% of total exports in 2022. It was distantly followed by Canada (X tons), constituting a 5.9% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to adipic acid exports from the United States stood at -6.8%. At the same time, Canada (+5.8%) displayed positive paces of growth. Moreover, Canada emerged as the fastest-growing exporter exported in Northern America, with a CAGR of +5.8% from 2012-2022. From 2012 to 2022, the share of Canada increased by +4.2 percentage points.

In value terms, the United States ($X) remains the largest adipic acid supplier in Northern America, comprising 93% of total exports. The second position in the ranking was taken by Canada ($X), with a 6.6% share of total exports.

From 2012 to 2022, the average annual growth rate of value in the United States stood at -4.9%.

Export Prices by Country

In 2022, the export price in Northern America amounted to $X per ton, picking up by 27% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.1%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Canada ($X per ton), while the United States amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+2.1%).

Adipic Acid Imports

Imports in Northern America

In 2022, purchases abroad of adipic acid, its salts and esters increased by 1.7% to X tons, rising for the second year in a row after two years of decline. The total import volume increased at an average annual rate of +1.3% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 when imports increased by 28%. The volume of import peaked in 2022 and is likely to see steady growth in the immediate term.

In value terms, adipic acid imports surged to $X in 2022. Total imports indicated a modest increase from 2012 to 2022: its value increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +92.1% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 49%. The level of import peaked in 2022 and is likely to see steady growth in the immediate term.

Imports by Country

In 2022, Canada (X tons) represented the major importer of adipic acid, its salts and esters, mixing up 76% of total imports. It was distantly followed by the United States (X tons), constituting a 24% share of total imports.

Canada experienced a relatively flat trend pattern with regard to volume of imports of adipic acid, its salts and esters. At the same time, the United States (+5.9%) displayed positive paces of growth. Moreover, the United States emerged as the fastest-growing importer imported in Northern America, with a CAGR of +5.9% from 2012-2022. While the share of the United States (+8.6 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Canada (-8.6 p.p.) displayed negative dynamics.

In value terms, Canada ($X) constitutes the largest market for imported adipic acid, its salts and esters in Northern America, comprising 74% of total imports. The second position in the ranking was taken by the United States ($X), with a 26% share of total imports.

From 2012 to 2022, the average annual growth rate of value in Canada was relatively modest.

Import Prices by Country

In 2022, the import price in Northern America amounted to $X per ton, jumping by 27% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while Canada stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+0.6%).

Source: IndexBox Platform

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