HS Code:
Adipic acid (HS Code: 2917.12) is a dicarboxylic acid primarily used as a precursor for the production of nylon 6,6, a key material in textiles, automotive components, and industrial applications. It is also utilized in the manufacture of plasticizers, lubricants, and polyurethane resins. The global trade of adipic acid is driven by demand in the textile and automotive industries, with significant production and consumption in industrialized regions.
Total Trade Volume
USD 2.5 billion
Data from 2022
Source
United Nations Comtrade Database, International Trade Centre (ITC)
USD 800 million
32% of total trade of total trade
Increasing
USD 600 million
24% of total trade of total trade
Stable
USD 400 million
16% of total trade of total trade
Increasing
USD 300 million
12% of total trade of total trade
Stable
USD 200 million
8% of total trade of total trade
Decreasing
Average Rate
5.2%
Highest Rate
12% (applied by certain developing countries)
Lowest Rate
0% (under free trade agreements like EU-USMCA)
Shift towards bio-based adipic acid
Growing environmental concerns and regulations are pushing manufacturers to adopt sustainable production methods, increasing costs but opening new market segments.
2021-2023
Rising demand in automotive sector
Increased use of nylon 6,6 in lightweight vehicle components is driving adipic acid demand, particularly in Asia-Pacific and North America.
2020-2022
Supply chain disruptions
Global logistics challenges and raw material shortages have led to price volatility and delays in adipic acid supply.
2021-2022
The European Union introduced anti-dumping duties ranging from 8-12% on adipic acid imports from China to protect domestic producers from unfairly priced imports.
March 2023
This has led to a shift in trade flows, with European buyers sourcing more from the US and South Korea, potentially increasing prices in the short term.
A major chemical company in the US announced a scalable method for producing bio-based adipic acid, reducing reliance on petroleum-based feedstocks.
July 2022
This development is expected to attract environmentally conscious buyers and may influence global trade patterns over the next decade.
China commissioned new production facilities to meet growing domestic and export demand, solidifying its position as the largest exporter.
October 2022
This could lead to oversupply in the global market, potentially driving down prices and intensifying competition.