The adipic acid market in Austria has shown notable fluctuations from 2013 to 2023, with a steady increase in volume, reaching 5.0379 million kilograms by 2023. The market experienced a substantial decline of 11.43% in 2018, but recovered with continual growth, especially notable in the years 2020, 2021, and 2023. Over the last five years, the compound annual growth rate (CAGR) indicates an average annual increase of 4.82%. In 2023, the market saw a year-on-year increase of 1.04%, illustrating resilience and recovery in demand.
Future trends to watch include potential impacts of sustainability policies on production, advancements in bio-based adipic acid, and shifts in customer demand towards environmentally friendly alternatives, which could greatly influence the market dynamics in Austria. Additionally, monitoring global economic conditions and supply chain developments will be crucial for anticipating changes in market size and volume.
