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The Adiponitrile market will reach a value of USD 20.1 Billion by 2027, at a CAGR of 5.5% during the forecast period (2020 - 2027). The Adiponitrile market, which is an essential ingredient for making nylon 6,6, is driven by different market factors that shape it in one way or another. One important factor here is the need for nylon 6,6, which has many applications in industries such as textiles, automotive, and electronics, among others. Another key factor affecting the Adiponitrile market greatly is the growth of end use industries. For instance, with industrial expansions and diversification, there would be an increase in demand for nylon 6,6, thus driving up its demand for adiponitrile. For example, automobile manufacturers are also increasing the usage of nylon 6,6 to make lighter parts that can withstand longer periods.
Raw materials availability and pricing are key determinants to consider while looking into adiponitrile markets. The main raw ingredients used in producing adiponitrile include butadiene ammonia and adipic acid. This means any price incongruity or unavailability of these raw materials may affect overall production costs, thereby directly impacting the market dynamics of adiponitrile. Similarly, government regulations and environmental policies play a significant role in shaping the Adiponitrile market. Strict laws on environmental impact assessment (EIA), waste management methods, and emission control during manufacturing will affect how producers make their products from this compound. In order to meet those standards, companies must not only incur costs in production, but they also have no choice but to adopt environmentally friendly processes into the manufacturing system.
Market competition drives the Adiponitrile sector forward as well. Multiple manufacturers competing for markets create innovations and reduce costs as well as product development, resulting in growth in the market. The global economy and trade policies also have far-reaching consequences on the Adiponitrile market. Changes in consumer spending, industrial production, and overall demand for goods made of nylon 6,6 are some of the impacts that can be experienced due to economic recessions or trade wars. Technological advancements are instrumental in shaping the Adiponitrile market, too. These include continued research and development efforts aimed at improving production processes, elevating the quality standards of our products, and finding new raw materials to use, consequently impacting the industry positively. Also, technological innovations contribute towards environmental sustainability, where consumers' behavior is changing, along with concerns about climate change, and all these issues need to be addressed.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Growth Rate | Â Â 2027: 5.5% |
Adiponitrile Market Highlights:
Adiponitrile Market Overview
Adiponitrile Market is expected to register a CAGR of 5.5% during the forecast period to cross USD 20.1 Billion by 2027. The main factors fueling the adiponitrile market are growing ultimatum from the textile industries and electrical industries. On the other hand, the decline in the global automotive production and unpreferred situations rising due to the covid-19 pandemic are hampering the growth of the global market for adiponitrile. The synthesis of adiponitrile via the biocatalytic route, which empowers a high regio and chemo-selective approach towards dinitriles without the use of hydrogen cyanide to strident reaction conditions, is expected to offer several opportunities for the increase of the market over the anticipated period. The automotive and transportation industry is projected to dominate the global adiponitrile market over the anticipated period. The Asia Pacific region represents the widest market and is also projected to be the fastest-rising market over the anticipated period due to the consumption in countries, such as India, Japan, and China.
Global Adiponitrile Market Share, by Application, 2017 (%) 
Source: MRFR Analysis
Regional Analysis
The market in Asia-Pacific held the largest share of the global adiponitrile market in 2017 and is expected to register a higher CAGR during the forecast period. The region is expected to witness lucrative growth in the coming future owing to positive inclined growth of the end-use industries, especially from China and India. The increase in demand in the chemical industry in the region is expected to boost the regional market growth in the coming future. Additionally, the growth of other end-use industries, such as medical, personal care, and electronics is expected to add up to the growth in the global market.
The North American market is projected to grow substantially over the assessment period on account of the growth of end-use industries such as chemical, personal care automobile and textile in countries including the US and Canada. Moreover, higher consumption of polymer in the various applications is also likely to boost the demand for the product over the forecast period. The Latin American and the Middle & African markets are expected to witness moderate growth on account of increasing demand in the end use industries such as chemical and healthcare.
Segmentation
The global adiponitrile market has been segmented by product type, application, and region. Based on product type, the global market has been segmented into polyurethane; nylon 6,6; fiber; nylon 6,6 resin; adipate esters; and others. By application, the global market has been divided into chemical, medical, personal care, electronics, automobile, textile, and others.
The global adiponitrile market, by region, has been studied concerning five regions—North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
Key Players
Some of the key players operating in the global adiponitrile market are BASF (Germany), LG Chem (South Korea), Sinopec (Beijing), Ineos (Germany), DowDuPont (US), Evonik Industries (Germany), SABIC (Saudi Arabia), Royal Dutch Shell (The Netherland), and JSR Corporation (Japan), among others.Recent Development
The adiponitrile is a nylon-66 intermediate. It is changed into nylon-66 through hexamethylene diamine as a transitional. Nylon-66 is applied heavily in the transportation and automotive sector. It is also applied to the radiator and tanks, oil pans, air intake manifolds, etc., as this is resistant to heat, grease, and oil. Nylon-66 finding increasing importance in the automotive and transportation segment in under-the-hood, chassis, and exterior and interior applications. This is due to its excellent properties, such as tensile strength, heat and chemical resistance, and abrasion resistance. The rising in the production of airbags is also projected to increase the need for nylon-66, hence increasing the ultimatum for adiponitrile. The ultimatum for adiponitrile from the section is likely to increase moderately, owing to the slowdown of the automotive industry during the anticipated period.
Intended Audience
- Adiponitrile Manufacturers
- Traders and Distributors of Adiponitrile
- Research and Development Institutes
- Potential Investors
- Raw Material Suppliers
- Nationalized Laboratories
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