U.S.: Adipic Acid Market 2024

Adipic Acid Market Size in the U.S.

The U.S. adipic acid market shrank modestly to $X in 2022, remaining stable 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 recorded throughout the analyzed period. Adipic acid consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Adipic Acid Production in the U.S.

In value terms, adipic acid production dropped to $X in 2022. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the production volume increased by 18% against the previous year. Adipic acid production peaked at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Adipic Acid Exports

Exports from the U.S.

In 2022, adipic acid exports from the United States shrank to X tons, which is down by -6.8% against the year before. Over the period under review, exports saw a deep contraction. The growth pace was the most rapid in 2021 when exports increased by 28% against the previous year. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, adipic acid exports skyrocketed to $X in 2022. In general, exports continue to indicate a noticeable descent. The pace of growth appeared the most rapid in 2021 when exports increased by 53%. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Canada (X tons) was the main destination for adipic acid exports from the United States, accounting for a 65% share of total exports. Moreover, adipic acid exports to Canada exceeded the volume sent to the second major destination, Japan (X tons), fourfold. The Netherlands (X tons) ranked third in terms of total exports with a 7.3% share.

From 2012 to 2022, the average annual growth rate of volume to Canada was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-4.2% per year) and the Netherlands (-3.2% per year).

In value terms, Canada ($X) remains the key foreign market for adipic acid, its salts and esters exports from the United States, comprising 61% of total exports. The second position in the ranking was held by Japan ($X), with a 14% share of total exports. It was followed by the Netherlands, with a 7.4% share.

From 2012 to 2022, the average annual growth rate of value to Canada was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-0.7% per year) and the Netherlands (-0.4% per year).

Export Prices by Country

The average adipic acid export price stood at $X per ton in 2022, increasing by 28% 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 attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to Israel ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+5.3%), while the prices for the other major destinations experienced more modest paces of growth.

Adipic Acid Imports

Imports into the U.S.

After two years of decline, overseas purchases of adipic acid, its salts and esters increased by 7.6% to X tons in 2022. In general, imports recorded strong growth. The pace of growth appeared the most rapid in 2016 with an increase of 48% against the previous year. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, adipic acid imports surged to $X in 2022. Overall, total imports indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +4.8% 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 +72.2% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 32% against the previous year. Imports peaked in 2022 and are likely to continue growth in the immediate term.

Imports by Country

Brazil (X tons), Canada (X tons) and Germany (X tons) were the main suppliers of adipic acid imports to the United States, with a combined 73% share of total imports. France, South Korea, India, the Netherlands and China lagged somewhat behind, together comprising a further 24%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by France (with a CAGR of +25.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest adipic acid suppliers to the United States were Canada ($X), Brazil ($X) and France ($X), together comprising 72% of total imports.

In terms of the main suppliers, France, with a CAGR of +27.9%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average adipic acid import price stood at $X per ton in 2022, increasing by 21% against the previous year. In general, the import price, however, saw a mild setback. The pace of growth was the most pronounced in 2021 an increase of 33%. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+10.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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