3-Oxoadipic Acid Market Overview:

The 3-Oxoadipic Acid Market size is estimated to reach $440  million by 2030, growing at a CAGR of 3.6% during the forecast period 2024-2030, according to a recent report published by IndustryARC, titled, “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 - Global Opportunity Analysis & Industry Forecast, 2024-2030”

Rising production of chemical intermediates supports market growth and Technological innovations improve production efficiency of 3-oxoadipic acid are fueling the growth of the 3-Oxoadipic Acid industry during the forecast period.

Asia Pacific Dominated the Market in 2023:

Asia Pacific accounted for the largest share of 40% of the 3-Oxoadipic Acid Market in 2023. Increasing demand for chemical intermediates in the pharmaceutical and biotechnology sectors drive the 3-Oxoadipic Acid market in Asia Pacific. Rising industrialization and advancements in specialty chemicals production are boosting the adoption of 3-oxoadipic acid in various applications. Agrochemical demand is also increasing, particularly in India and China. In 2023, BASF achieved €9.4 billion ($10.1 billion) in sales from Greater China, while expanding production and R&D. BASF's focus on sustainable development and innovation is strengthening market growth, further supporting economic and environmental progress in the region.

3-Oxoadipic Acid Market: Key Takeaways

Increased Use in Agricultural Chemicals Contributes to Market Expansion:

The increasing use of 3-oxoadipic acid in agricultural chemicals is a key driver of market expansion. Its role as a chemical intermediate enhances the formulation of fertilizers and pesticides, improving crop yield and protection. With growing demand for sustainable agricultural solutions, 3-oxoadipic acid plays a crucial part in developing eco-friendly products. Additionally, its application in producing herbicides and growth regulators supports more efficient farming practices, addressing the rising need for food security. This increased usage in agricultural chemicals reinforces the compound's importance in ensuring the long-term sustainability of global agricultural industries.

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Growing Pharmaceutical Industry Boosts the Need for 3-Oxoadipic Acid in Drug Synthesis:

The pharmaceutical industry’s expansion is a key driver of demand for 3-oxoadipic acid, an important intermediate in drug synthesis. As drug manufacturing processes evolve, the need for specialized compounds like 3-oxoadipic acid grows due to its role in producing advanced pharmaceuticals. This compound’s versatility in synthesizing biologically active molecules makes it vital in developing new medications. Additionally, increased investments in R&D by pharmaceutical companies have heightened the focus on high-quality chemical intermediates, further boosting the demand for 3-oxoadipic acid in drug synthesis applications. 

Scope of the Report: 

      Report Metric

                    Details

Base Year Considered

2023

Forecast Period

2024–2030

CAGR

3.6%

Market Size in 2030

$440 million

Segments Covered

By Application, By End-Use Industry and By Region


Geographies Covered

North America (U.S., Canada and Mexico), Europe (Germany, France, UK, Italy, Spain, Russia and the Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia & New Zealand and the Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia and Rest of South America), Rest of the World (Middle East and Africa).



Key Market Players

  1. Finetech Industry Limited

  2. PETRONAS (Henan Tianfu Chemical Co. Ltd.)

  3. Shandong Haili Chemical Industry Company Ltd. 

  4. PetroChina Company Limited

  5. Asahi Kasei Corporation

  6. BASF SE

  7. LANXESS

  8. Solvay S.A

  9. Sumitomo Chemical Co., Ltd.

  10. Dongfang Hongye Chemical Co., Ltd. (Shandong Hongye Chemical Company, Ltd.)



3-Oxoadipic Acid Market: Competitive Landscape

Key companies profiled in the 3-Oxoadipic Acid Market are Finetech Industry Limited, PETRONAS (Henan Tianfu Chemical Co. Ltd.), Shandong Haili Chemical Industry Company Ltd., PetroChina Company Limited, Asahi Kasei Corporation, BASF SE, LANXESS, Solvay S.A, Sumitomo Chemical Co., Ltd., Dongfang Hongye Chemical Co., Ltd. (Shandong Hongye Chemical Company, Ltd.) and Others.

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