USD 9.63 billion
Adiponitrile Market Size, Share, Growth Analysis, By Application(Nylon synthesis, electrolyte solutions and others), By End-use(Automotive, textiles, electrical and electronics, chemical intermediates and others), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15E2263 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
63
|Figures:
75
Adiponitrile Market Insights
Adiponitrile Market size was valued at USD 9.63 billion in 2021 and is poised to grow from USD 10.24 billion in 2022 to USD 16.69 billion by 2030, at a CAGR of 6.3% during the forecast period (2023-2030).
The global adiponitrile market is experiencing significant growth and expansion, driven by various factors. Adiponitrile, a crucial chemical intermediate, is primarily used in the production of hexamethylenediamine (HMDA), which is further used in the manufacturing of nylon 6,6. The rising demand for nylon 6,6 from various end-use industries such as automotive, textile, and electrical, among others, is a key driver for the growth of the adiponitrile market. Additionally, the increasing use of nylon 6,6 in lightweight automotive components and electrical insulation applications is further boosting the demand for adiponitrile. The market is witnessing technological advancements and innovations in adiponitrile production methods to enhance efficiency and reduce costs, contributing to market growth. Furthermore, the growing focus on sustainable and eco-friendly solutions is leading to the development of bio-based adiponitrile, providing new opportunities in the market. Geographically, Asia Pacific holds a significant share in the global adiponitrile market, attributed to the presence of major chemical manufacturing hubs, increasing industrialization, and rising demand from end-use sectors. The market is also witnessing consolidation as key players are engaging in strategic partnerships, mergers, and acquisitions to expand their market presence and strengthen their product portfolio. Additionally, stringent environmental regulations regarding the production and disposal of adiponitrile are influencing market dynamics, with companies focusing on adopting sustainable practices and investing in research and development for greener alternatives. Overall, the global adiponitrile market is expected to continue its growth trajectory in the coming years, driven by the expanding nylon 6,6 market and technological advancements in production methods.
US Adiponitrile Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2023-2030
Global Market Size
Largest Segment
Nylon synthesis
Fastest Growth
Nylon synthesis
Growth Rate
6.3% CAGR
Global Adiponitrile Market ($ Bn)
Country Share for Asia Pacific Region (%)
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Adiponitrile Market Segmental Analysis
Global Adiponitrile Market is segmented on the basis of application, end-use and region. Based on application, the market can be segmented into Nylon synthesis, electrolyte solutions and others. Based on end-use, the market is segmented into Automotive, textiles, electrical and electronics, chemical intermediates and others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Adiponitrile Market Analysis By Application
The dominant segment in the global adiponitrile market is nylon synthesis. Adiponitrile is primarily used as a key raw material in the production of nylon 6,6, which finds extensive applications in various industries such as automotive, textile, and electrical. The increasing demand for nylon 6,6 from these sectors is driving the growth of the adiponitrile market in the nylon synthesis segment.
The fastest growing segment in the global adiponitrile market is electrolyte solutions. Adiponitrile is utilized in the manufacturing of electrolyte solutions for lithium-ion batteries. With the surging demand for electric vehicles and energy storage systems, the demand for high-performance lithium-ion batteries is on the rise. This, in turn, is propelling the growth of the adiponitrile market in the electrolyte solutions segment, as it serves as a critical component in the battery manufacturing process.
Adiponitrile Market Analysis By End-use
The dominant segment in the global adiponitrile market based on end-use is the automotive sector. Adiponitrile is extensively used in the production of nylon 6,6, which is a key material for manufacturing lightweight automotive components. The automotive industry's increasing focus on fuel efficiency, sustainability, and emission reduction has resulted in a growing demand for nylon-based materials, driving the dominance of the automotive segment in the adiponitrile market.
The fastest growing segment in the global adiponitrile market based on end-use is the electrical and electronics sector. The demand for adiponitrile is rapidly increasing in this sector due to its application in electrical insulation materials and cables. With the advancements in electronic devices and infrastructure, there is a growing need for reliable and efficient electrical insulation solutions. Adiponitrile-based materials provide excellent electrical insulation properties, making them ideal for use in this sector. As a result, the electrical and electronics segment is witnessing rapid growth in the adiponitrile market.
Global Adiponitrile Market By Application
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Adiponitrile Market Regional Insights
The dominant region in the global adiponitrile market is Asia Pacific. Asia Pacific holds a significant share in the market due to the presence of major chemical manufacturing hubs, increasing industrialization, and rising demand from end-use sectors such as automotive, textiles, and electronics. The region's strong manufacturing capabilities and growing consumer base drive the dominance of Asia Pacific in the adiponitrile market.
The fastest growing region in the global adiponitrile market is the Middle East and Africa (MEA). The MEA region is experiencing rapid growth in the market due to the expanding chemical industry, increasing infrastructure development, and growing demand for nylon-based products. The region's favorable investment environment, supportive government initiatives, and strategic geographical location for exports contribute to the significant growth of the adiponitrile market in the Middle East and Africa.
Global Adiponitrile Market By Geography
- Largest
- Fastest
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Adiponitrile Market Dynamics
Adiponitrile Market Drivers
Increasing demand for nylon 6,6 from various end-use industries
- One key driver of the global adiponitrile market is the increasing demand for nylon 6,6 from various end-use industries such as automotive, textiles, and electronics. The growing need for lightweight materials, fuel efficiency, and electrical insulation solutions in these sectors is propelling the demand for adiponitrile.
Adiponitrile Market Restraints
Stringent environmental regulations regarding the production and disposal of adiponitrile
- One key restraint of the market is the stringent environmental regulations regarding the production and disposal of adiponitrile. These regulations impose challenges on manufacturers to adopt sustainable practices and ensure proper waste management. Compliance with these regulations can increase production costs and create hurdles for market growth.
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Adiponitrile Market Competitive Landscape
The competitive landscape of the global adiponitrile market is characterized by intense competition among key players striving to enhance their market share. Companies are focused on expanding their production capacities, adopting advanced technologies, and investing in research and development activities to improve product efficiency. Strategic partnerships, mergers, and acquisitions are prevalent in the market as players seek to strengthen their market presence and expand their product portfolios. Additionally, there is a growing emphasis on sustainability and the development of bio-based alternatives to meet the evolving demands of environmentally-conscious consumers. Overall, the market is highly dynamic, with companies striving to stay ahead through innovation and strategic collaborations.
Adiponitrile Market Top Player’s Company Profiles
- Kishida Chemical Co., Ltd. (Japan)
- Tokyo Chemical Industry (Japan)
- Thermo Fisher Scientific (US)
- Asahi Kasei Corp. (Japan)
- Merck (Germany)
- Spectrum Chemical Mfg. Corp. (US)
- Acros Organics BVBA (Belgium)
- Alfa Aesar (US)
- Thermo Fisher Scientific (US)
- BASF SE (Germany)
- LG Chem (South Korea)
- Dow Chemical Company (US)
- Mitsui Chemicals, Inc. (Japan)
- Toray Industries, Inc. (Japan)
- Sumitomo Chemical Co., Ltd. (Japan)
- Solvay SA (Belgium)
- Lanxess AG (Germany)
Adiponitrile Market Recent Developments
- In April 2023, Lanxess AG introduced a new range of specialty adiponitrile products for specific applications in the automotive and electronics industries.
- In February 2023, BASF SE announced plans to invest in expanding its adiponitrile production capacity in the United States.
- In October 2022, Acros Organics BVBA enhanced its product portfolio with a range of high-quality adiponitrile derivatives.
- In July 2022, LG Chem expanded its adiponitrile production capacity in South Korea to meet the growing demand from the nylon industry.
- In September 2021, Thermo Fisher Scientific launched an innovative adiponitrile testing kit for rapid and accurate analysis in quality control processes.
- In May 2021, Thermo Fisher Scientific launched advanced analytical solutions for the detection and analysis of adiponitrile in various industries.
- In March 2021, Butachimie announced the restart of its adiponitrile production plant in France after a scheduled maintenance shutdown.
- In March 2021, Alfa Aesar introduced customized packaging options for adiponitrile to ensure safe handling and transportation.
Adiponitrile Key Market Trends
- Increasing focus on sustainability and the development of bio-based alternatives: One key market trend in the global adiponitrile market is the increasing focus on sustainability and the development of bio-based alternatives. As the demand for adiponitrile continues to rise, there is a growing emphasis on reducing the environmental impact associated with its production and disposal. Companies are investing in research and development to explore bio-based sources of adiponitrile and develop greener manufacturing processes. This trend aligns with the broader global movement towards sustainable practices and the demand for eco-friendly materials in various industries.
Adiponitrile Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our Global Adiponitrile Market analysis, the global market is witnessing significant growth and is driven by factors such as the increasing demand for nylon 6,6 from various industries like automotive, textiles, and electronics. The market is characterized by the dominant segment of nylon synthesis, where adiponitrile is a key raw material. Additionally, the market is experiencing advancements in production methods and a focus on sustainability, leading to the development of bio-based alternatives. Geographically, Asia Pacific holds a significant share in the market, while the Middle East and Africa exhibit rapid growth. The competitive landscape involves companies expanding production capacities, engaging in strategic partnerships, and investing in research and development. However, stringent environmental regulations pose a challenge for market players. Overall, the market is dynamic, driven by technological advancements, market consolidation, and the demand for sustainable solutions.
| Report Metric | Details |
|---|---|
| Market size value in 2021 | USD 9.63 billion |
| Market size value in 2030 | USD 16.69 billion |
| Growth Rate | 6.3% |
| Base year | 2023 |
| Forecast period | 2023-2030 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Adiponitrile Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Adiponitrile Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Adiponitrile Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Adiponitrile Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Adiponitrile Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Adiponitrile Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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